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Genito-Urinary Drugs Global Market Report 2021: COVID 19 Impact and Recovery to 2030

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New York, Feb. 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Genito-Urinary Drugs Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06027736/?utm_source=GNW
24 billion in 2020 to $53.78 billion in 2021 at a compound annual growth rate (CAGR) of 9.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $63.95 billion in 2025 at a CAGR of 4%.

The genito-urinary drugs market consists of sales of genito-urinary drugs and related services by entities (organizations, sole traders and partnerships) that produce genito-urinary drugs to treat genito- urinary diseases such as urinary tract infections, male reproductive diseases, voiding diseases, female reproductive diseases, glomerular disorders, urinary calculi, cystic kidney disease, Reno vascular diseases, benign prostate diseases, and other related diseases.This industry includes establishments that produce infertility drugs, hormonal contraceptives, erectile dysfunction drugs and hormonal replacement drugs to treat infertility, infections and prevent pregnancy.

It also consists of establishments which produce drugs for benign prostatic hypertrophy, drugs for urinary incontinence and overactive bladder, diuretics to treat urinary calculi, glomerular disorders and other urinary disorders. The genito-urinary drugs market is segmented into hormonal contraceptives; drugs for benign prostatic hypertrophy; drugs for infertility; drugs for erectile dysfunction; drugs for urinary incontinence and overactive bladder; drugs for infections and others; drugs for hormonal replacement therapy; and diuretics.

North America was the largest region in the global genito-urinary drugs market, accounting for 55% of the market in 2020.Asia Pacific was the second largest region accounting for 21% of the global genito-urinary drugs market.

Africa was the smallest region in the global genito-urinary drugs market.

Pharmaceutical companies are investing in development of new class drugs for treating overactive bladders (OAB).Earlier anti-muscarinic agents have been used for the treatment of OAB.

Going forward, the market is expected to be driven by a new class of drug known as beta-3 adrenergic agonists that has been increasingly used to treat OAB.Beta-3 adrenergic agonists are drugs which cause the bladder muscles to relax without causing side effects such as dry mouth.

For instance, in 2018, European Medicines Agency (EMA) and the Food and drug Administration (FDA) approved a beta-3 adrenergic drug called Mirabegron.

Regulatory agencies and federal governments adopted stringent regulations and took a tough stance on drug pricing by pharmaceutical companies during the historic period.Pharmaceutical companies faced criticism from politicians, patients and physicians over high pricing of some medicines and drugs.

Moreover, companies had to sell drugs and medicines at subsidized rates to government hospitals, doctors and clinics, further effecting companies' revenues. This led to drug manufacturing companies operating on a reduced profit margin, which negatively impacted the attractiveness of the genito-urinary drugs industry in the historic period.

The aging population profile of most countries contributed to the growth of the gastrointestinal drugs market.The increase in patient pool due to rising geriatric population globally, contributed significantly to the growth of the market during the historic period.

According to the Population Reference Bureau, the share of population over the age of 65 in the global population increased from 8% in 2015 to 9% in 2019.The global population aged 65 years or over was 703 million in 2019.

This rise in the geriatric population increased the demand for medical care and drove the healthcare expenditure. This has led to increased demand for pharmaceuticals products, significantly impacting market growth during this period.
Read the full report: https://www.reportlinker.com/p06027736/?utm_source=GNW

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