July 09, 2020
According to the research report titled ‘Global Overactive Bladder (OAB) Treatment Market - Analysis By Medication, By Therapy, By Region, By Country (2019 Edition): Opportunities and Forecast (2019-2024) – By Region, By Country available with Market Study Report LLC, global overactive bladder treatment market was valued at USD 4,978.09 million in the year 2018 and is expected to amass notable gains during 2020-2026.
Emergence of new technologies, rising development of drugs, growing healthcare expenditure & infrastructure, and increasing elderly population are key factors driving the growth of global overactive bladder treatment market. Increase in drug approvals and advent of combination therapy is also fueling the market growth. Furthermore, advancements in treatments in the pharmaceutical industry has impelled the demand for highly efficient overactive bladder treatments which in turn is stimulating the industry outlook.
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Based on medication type, oxybutynin segment is anticipated to drive the market growth across the globe during the forecast period. This medication offers better efficiency, cost effectiveness, and lower adherence rate during OAB treatment.
With regards to therapy, BOTOX treatment segment is expected to witness a high CAGR through 2026, owing to its cost-effective nature while being used in hospital settings under general as well as local anesthesia. Also, Botox is a single step procedure and does not need implantation of a foreign object.
On the other hand, SNM therapy segment is expected to grow and witness high CAGR during the study period, primarily due to the factors such as improvements in frequency/urgency, higher zero pad usage, significantly improved completely dry rates, and no change in voiding efficiency. Furthermore, SNM therapy is more comprehensive than BOTOX therapy, which in turn is fueling the segmental share.
Based on regional overview, global overactive bladder treatment industry is categorized into Asia Pacific, North America, Europe, and Rest of the World.
Key players operating in global overactive bladder treatment industry are Allergan plc, Laborie Medical Technologies Corp., Intas Pharmaceutical Ltd., Apotex Inc., Macleods Pharmaceuticals Ltd., Teva Pharmaceutical Industries Ltd., Pfizer Inc., Sanofi S.A., Astellas Pharma Inc., and Axonics Modulation Technologies Inc, among others.