LONDON--(BUSINESS WIRE)--The global overactive bladder (OAB) therapeutics market is projected to grow at a CAGR of nearly 2% over the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global overactive bladder therapeutics market for 2017-2021. Based on the drug class, the market is divided into anticholinergic agents and beta-3-adrenoreceptor segments.
|The medication treatment for overactive bladder is mainly dominated by anticholinergic agents such as oxybutynin, tolterodine, and darifenacin. Beta-3 adrenoreceptor agonists are the new class of drugs that have been recently approved for treating OAB. Myrbetriq (mirabegron) launched by Astellas Pharma, was the first beta-3 adrenoreceptor agonist to reach the global OAB therapeutics market.|
Technavio’s research study segments the global overactive bladder therapeutics market into the following regions:
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OAB therapeutics market in the Americas
“The Americas occupied a majority 43% of the overactive bladder therapeutics market in 2016, with the US being the single largest contributor to the market. The market is expected to experience a high growth rate because of the high occurrence of OAB and rise in geriatric population,” says Sapna Jha, a lead analyst at Technavio for cardiovascular and metabolic disorders research.
The presence of various health care coverage systems such as Medicare is also significantly boosting the market growth since it allows access to an effective treatment regimen for OAB. Studies conducted by institutions such as the MGC Data Services estimate that about 8.8%-13.6% of the total affected OAB population seemed to seek medical treatment. The improvement of these percentages through the forecast period will augment the market growth.
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OAB therapeutics market in EMEA
The OAB therapeutics market in EMEA was valued at USD 992.62 million in 2016 with Western Europe such as France, Germany, Italy, Spain, and the UK contributing the highest revenue and growth to the overall market.
The rise in the number of cases of overactive bladder and the increase in programs toward creating awareness regarding the disease are the major factors contributing to the growth of the regional growth. Also, the rising prevalence of OAB in this region has led to increasing demand for OAB therapeutics, further boosting the market growth.
OAB therapeutics market in APAC
“The OAB therapeutics market in APAC is the fastest growing segment, driven by an increase in awareness and the availability of improved healthcare services. Emerging countries such as China and India represent immense opportunities for leading players with their large pool of underserved patients,” says Sapna.
Global vendors are increasingly targeting the populous and emerging markets in Asia by launching their products here. For instance, Astellas Pharma launched VESIcare and Betanis in the region. Another major vendor, Hisamitsu Pharmaceutical also launched the transdermal patch of oxybutynin, NEOXY Tape in Japan to strengthen its position in the market. Such initiatives by vendors will support the market growth in this region.
The top vendors in the global overactive bladder therapeutics market highlighted in the report are:
- Astellas Pharma
- Hisamitsu Pharmaceutical
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