India Urology Drugs Market to Establish Growth with Impressive CAGR until FY2027
Increasing
healthcare infrastructure and a supportive regulatory environment are the major
drivers for the India Urology Drugs Market.
According
to TechSci Research report, “India Urology Drugs Market Industry Size,
Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, India Urology Drugs Market has
valued at USD 1.02 billion in 2023 and is anticipated to witness an impressive
growth in the forecast period with a CAGR of 6.90 % through 2029. This can be
due to collaborations and partnerships among leading companies with a diverse
approach to merge the expertise of individual companies and to strengthen their
position in the market. The aging population is a significant driver of the
demand for urology drugs. As individuals age, they become more susceptible to a
range of urological conditions, including benign prostatic hyperplasia (BPH),
urinary incontinence, kidney stones, and erectile dysfunction. The higher
incidence of these conditions among the elderly drives the demand for urology
drugs, which are often used in the management and treatment of these
conditions. Enlargement of the prostate is common in older men, and it can lead
to urinary symptoms. Many urology drugs are prescribed to manage the symptoms
of BPH, reducing urinary frequency and improving urine flow. Aging is a
significant risk factor for urinary incontinence. Urology drugs, including
anticholinergic medications, can help manage and control this condition,
improving the quality of life for older individuals. Erectile dysfunction
becomes more prevalent with age. Medications like phosphodiesterase type 5
(PDE5) inhibitors, including Viagra and Cialis, are commonly prescribed to
address this issue, increasing the demand for such drugs among older adults. The
risk of developing kidney stones tends to increase with age. Urology drugs may
be used to manage the pain and assist in the passage of kidney stones. The
aging process can lead to changes in bladder function, including increased
urinary frequency and urgency. Urology drugs can help manage these symptoms.
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In June 2022, Austrak, an Indian
pharmaceutical company headquartered in Hyderabad, Telangana, has recently
introduced a new super-specialty division. This division is dedicated to
offering approximately 73 high-value products in the fields of nephrology and
urology. Austrak, known for its strong presence in ophthalmology over the past
12 years, is a leading healthcare group with a focus on innovation. The
company's primary areas of operation encompass pharmaceuticals and surgical
products. Austrak's mission is to provide products and services that have a
significant positive impact on people's lives by contributing to the
prevention, diagnosis, and treatment of diseases. Patent
expirations present challenges in the India Urology Drugs Market, as they do in
the pharmaceutical industry worldwide. When the patent for a urology drug
expires, it opens the door for the entry of generic drug manufacturers into the
market. This increased competition can lead to a significant drop in the price
of the drug, impacting the revenue of the original drug manufacturer. As
generic versions of urology drugs become available, the original brand-name
drug may lose a substantial portion of its market share. Patients and
healthcare providers may opt for more affordable generic alternatives. With the
introduction of generic versions, price erosion can occur, driving down the
cost of urology drugs. While this can benefit patients by making medications
more affordable, it can be a challenge for brand-name drug manufacturers. The
entry of multiple generic manufacturers can lead to a fragmented market with
various versions of the same drug, potentially creating confusion among
healthcare providers and patients.
India Urology Drugs Market is segmented based on
Drug Class, Type, Application, Distribution Channel, and by region.
Based on the Application, India Urology Drugs
Market is segmented into Benign Prostatic Hyperplasia (BPH), Prostate Cancer, Urinary
Incontinence, Kidney/Bladder Stone, Erectile Dysfunction, Others. Erectile
dysfunction (ED), commonly known as impotence, is a medical condition
characterized by the consistent or recurrent inability to achieve or maintain
an erection sufficient for sexual intercourse. It is a common sexual health
issue that can affect men of all ages but is more prevalent as men get older. ED can be caused by a wide range of
physical, psychological, or lifestyle factors, and it can have a significant
impact on a man's overall well-being and self-esteem. The primary symptom of ED is the inability
to achieve or sustain an erection firm enough for sexual intercourse. It's
important to note that occasional difficulties with achieving or maintaining an
erection are normal and not necessarily indicative of ED. ED is typically
diagnosed when the issue is persistent. A healthcare provider may diagnose ED through a physical examination,
medical history assessment, and a discussion of symptoms. Blood tests may be
performed to check for underlying medical conditions, and sometimes imaging
studies or special tests to assess blood flow may be recommended. Based on Region, North India held the largest share in the India Urology
Drugs Market. North India includes economically prosperous regions,
which can lead to higher healthcare spending and a greater ability to afford
urology drugs. North India is home to several major pharmaceutical companies
and manufacturing hubs, making it a convenient location for the production and
distribution of urology drugs. The presence of renowned healthcare institutions
and research centers in North India fosters research, development, and adoption
of advanced urology treatments and drugs. Government initiatives and healthcare
policies in the region can influence the healthcare landscape and the urology
drugs market.
Some of the major companies
operating in the India Urology Drugs
Market include:
- Astellas
Pharma India Pvt Ltd
- Endo
Pharmaceuticals
- Sanofi
India
- Pfizer
Ltd.
- Innovexia
Lifesciences
- Salvus
Pharma
- Silhos
Pharma Ltd.
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“Certain areas, particularly in North
America, are projected to exert significant demand for Urology Drugs. The
growth in the competitive landscape and the presence of well-established
companies in the market, committed to enhance the overall wellbeing of people each
year, are expected to contribute to a remarkable growth of the India Urology
Drugs Market in the forecast period," said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based Global management consulting
firm.
India Urology Drugs Market by Drug
Class (Anticholinergic/ Antispasmodic Agents, Skeletal Muscle Relaxants, Alpha Blockers,
Others), By Type (Original Drugs v/s Generic Drugs), By Application (Benign
Prostatic Hyperplasia (BPH), Prostate Cancer, Urinary Incontinence,
Kidney/Bladder Stone, Erectile Dysfunction, Others), By Distribution Channel
(Hospital Pharmacies, Retail Pharmacies, Online), By Region, By Competition
Forecast & Opportunities, 2019-2029F has evaluated the future growth
potential of India Urology Drugs Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide innovative market intelligence and help decision makers take
sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges, and opportunities
in India Urology Drugs Market.
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