The genitourinary drugs market is expected to reach USD 29.7 billion by 2024. 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.
Prostate cancer held the largest share of the indication segment in 2015 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 2015, North America dominated the global genitourinary drugs vertical with a share of over 42.6%. 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 5.6% 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.
- Bristol-Myers Squibb Co.
- Novartis AG
- Genentech, Inc.
- F. Hoffmann-La Roche Ltd
- Ionis Pharmaceuticals, Inc.
- Eli Lilly and Company
- Merck & Co., Inc.
- Pfizer, Inc.
- Teva Pharmaceutical Industries Ltd.
- Bayer AG
- Antares Pharma
Key Topics Covered:
1. Methodology and Scope
2. Executive Summary
3. Market Snapshot
4. Market Variables, Trends & Scope
5. Market Categorization 1: Indication Estimates & Trend Analysis
6. Market Categorization 2: Product Estimates & Trend Analysis
7. Market Categorization 3: Regional Estimates & Trend Analysis, By Indication & Product
8. Competitive Landscape
For more information about this report visit http://www.researchandmarkets.com/research/3hcjg5/genitourinary
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/genitourinary-drugs-market-to-reach-29-billion-by-2024---driven-by-high-rd-investments---research-and-markets-300383344.html
SOURCE Research and Markets