Genitourinary Drugs Market To Reach $31.75 Billion By 2030

Genitourinary Drugs Market Growth & Trends

The global genitourinary drugs market size is expected to reach USD 31.75 billion by 2030, expanding at a CAGR of 1.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. This sector is expected to be driven by high R&D investments undertaken by the key companies, which is expected to result in the large-scale development of new drug candidates. This is presumed to increase the influx of drugs at a rapid pace into the genitourinary drugs market hence providing efficient treatment alternatives for numerous genitourinary disorders.

In addition, growing incidence of drug recalls is fueling the high clinical urgency to develop relatively new and advanced drugs with targeted therapy mechanisms. These factors cumulatively are slated to present the vertical with considerable growth opportunities over the forecast period.

Furthermore, increasing global presence of the major market players is anticipated to raise the awareness levels pertaining to treatment alternatives for genitourinary diseases amongst the patients as well as the physicians. This is further expected to widen the genitourinary market growth potential during the forecast period. Growing generic drugs competition, rising presence of counterfeit drugs, and with several patent expirations in the horizon, the market growth is expected to slow down over the coming years.

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Genitourinary Drugs Market Report Highlights

• Prostate cancer held the largest share of the indication segment in 2022 owing to the rising global incidence of the condition. In addition, advances in proteomics technology and improved screening and diagnostic procedures are presumed to be responsible for the dominant share. 

• In 2022, North America dominated the global genitourinary drugs vertical with a share of over 37.0%. The dominant share is attributable to the high disease burden present in this region, thus driving the inclination of researchers and healthcare professionals toward advanced formulation technologies, which is anticipated to widen the growth scope for this sector

• Asia Pacific is expected to witness a lucrative CAGR of over 4.8% during the forecast period. The exponential growth rate can be attributed to the rising healthcare spending and the improving infrastructure quality of clinical research and manufacturing facilities owing to the initiatives of the key vertical players

• The prominent participants are employing new product development and collaborative strategies to capture greater market share and increase their presence in this sector. For instance, in March 2023, Novartis AG further enhanced its cancer immunotherapy research initiative through collaboration with Aduro Biotech to increase its activities toward discovery and development in next generation cancer immunotherapy

Genitourinary Drugs Market Segmentation

Grand View Research has segmented the genitourinary drugs market on the basis of indication, product, and region:

Genitourinary Drugs Indication Outlook (Revenue, USD Million, 2018 - 2030)

• Prostate Cancer

• Ovarian Cancer

• Bladder Cancer

• Cervical Cancer

• Renal Cancer

• Erectile Dysfunction

• Urinary Tract Infections

• Urinary Incontinence & Overactive Bladder

• Sexually Transmitted Diseases

• Interstitial Cystitis

• Hematuria

• Benign Prostatic Hyperplasia

Genitourinary Drugs Product Outlook (Revenue, USD Million, 2018 - 2030)

• Urologicals

• Hormonal Therapy Drugs

• Gynecological products

• Anti-infectives

• Others

Genitourinary Drugs Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • Thailand

  • South Korea

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East and Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in the Genitourinary Drugs Market

• Abbott

• Bristol-Myers Squibb Co.

• Novartis AG.

• Genentech, Inc.

• F. Hoffmann-La RocheLtd.

• Ionis Pharmaceuticals, Inc.

• Eli Lilly and Company

• Merck & Co., Inc.

• Pfizer, Inc.

• AstraZeneca

• GlaxoSmithKline

• Teva Pharmaceutical Industries Ltd.

• Bayer AG

• Allergan

• Antares Pharma