India Urology Drugs Market to Establish Growth with Impressive CAGR until FY2027
India Urology Drugs Market is expected to show robust
growth due to increasing cases of prostate cancer in the forecast period,
FY2017-FY2027.
According to TechSci report on, “India Urology
Drugs Market, By Region, Competition
Forecast & Opportunities, FY2017 - FY2027”, India urology drugs market
has shown promising growth in historical years until FY2020 and is expected to
continue its growth in upcoming forecast years FY2023 to FY2027. India urology
drugs market owes its growth to the factors like rapidly increasing geriatric
population of the country.
Geriatric population is
more susceptible to urological diseases like Benign
prostatic hyperplasia, overactive bladder, nocturia, etc. and with weak immune
system their capability to recover also diminishes thereby creating surge in
the demands for urology drugs and driving the growth of the India urology drugs
market in the upcoming five years. Increasing instances of prostate cancer
among the population is further supporting the growth of the India urology
drugs market in the next five years.
Rapidly increasing
number of UTI surgical procedures and demand for effective treatment is further
substantiating the growth of the India urology drugs market in the future five
years. Increasing instances of diabetes and obesity are also responsible for
the increasing cases of urinary tract infection and thus substantiate the
growth of the India urology drugs market in the future five years.
Increasing demand for
the effective treatment and advanced pharmaceutical is also supporting the
growth of the India urology drugs market in the forecast years, until FY2027. Moreover,
factors like consistent research and technological advancement in the
innovative therapeutic product development of urology drugs for regulating the
conditions of the patients are further anticipated to support further growth of
India urology drugs market in the forecast period.
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The India urology drugs market segmentation is based on drug class,
type, application, distribution channel, competitional landscape, and regional distribution.
Based on drug class, the market is further fragmented into anticholinergic/
antispasmodic agents, skeletal muscle relaxants, alpha blockers, and others.
Anticholinergic/ Antispasmodic agents are the types of medicine that includes
the natural belladonna alkaloids like atropine, belladonna, hyoscyamine, and
scopolamine.
The drugs are used to relieve pain stimulus and spasms of the stomach,
intestines, and bladder. Increasing demand for the painkillers for stomach
pain, bladder pain etc. is further driving the growth of the sub-segment along
with the growth of the India urology drugs market in the upcoming five years.
The growth is anticipated to aid anticholinergic or antispasmodic agents to
dominate the market segment and hold largest revenue shares of the market in
the next five years.
Also based on type, the market is further divided between original
drugs and generic drugs. Original drugs are anticipated to hold the largest
revenue shares of the market and dominate the market segment in the upcoming
five years on the account of increasing development of the pharmaceuticals as
urology drugs. Multiple market players are actively investing in the research
and advanced drug development for the increasing urological diseases thus
aiding the growth of the India urology drugs market in the next five years.
Generic drugs are also anticipated to register significant growth in
the subsequent years on the grounds of growing generic drugs industry.
Feasibility and availability of the generic drugs as an OTC in the Indian
pharmaceutical market further aids the growth of the India urology drugs market
in the forecast years.
Based on application, the market is segmented into benign prostatic
hyperplasia (BPH), prostate cancer, urinary incontinence, kidney/bladder stone,
erectile dysfunction, and others. Prostate cancer is anticipated to lead the
market segment in the next five years since the number of prostate cancers
among male population of the country is rapidly increasing. Also, increasing
geriatric population of the country is more risk prone to prostate cancer and
thus drives the growth of the India urology drugs market in the upcoming five
years.
A partial list of market players in the field includes:
·
Astellas Pharma India Pvt Ltd
·
Endo Pharmaceuticals
·
Sanofi India
·
Pfizer Ltd.
·
Innovexia Lifesciences
·
Salvus Pharma
·
Silhos Pharma Ltd.
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“Retail pharmacies are
rapidly growing in the country and their revenue share is anticipated to be
highest in the future five years and driving the growth of the India urology
drugs market. Increasing instances of urology diseases and increasing demand
for the efficient treatment urinary tract infectious diseases and other
urological diseases with the availability of the affordable urology drugs are
further anticipated to aid to the growth of the India urology drugs market in
the next five years. Increasing
investment from the governmental bodies and private investments toward research
institutes is further expected to support market growth. New market players
entering the market in the future may invest in extended research and
innovative product development for their brand establishment. Partnerships and
conjugation with the global giants dominating the market may support future
market growth,” 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, Competition Forecast & Opportunities, FY2027” 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 cutting-edge 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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