Overactive Bladder Treatment Market Growth Driven by Rising Patient Awareness and Demand

Posted on 2024-12-23 by researchinsights in Internet & Online // 0 Comments

The global overactive bladder treatment market size is expected to reach USD 5.25 billion by 2030, and is estimated to register a CAGR of 4.8% over the forecast period, according to a new report by Grand View Research, Inc. Factors such as the growing awareness about the overactive bladder (OAB) condition, along with rising R&D investments to develop novel formulations for this disease, are projected to drive the global market. In addition, rising competition owing to high demand for OAB medications and treatments and rising emphasis of major players to manufacture drugs is another vital factor propelling the demand forward.

Rising awareness about OAB and urinary incontinence among the population is one of the major factors bolstering the growth of the market. Various key players operating in the industry undertake numerous initiatives to raise awareness about the overactive bladder condition. For instance, in January 2023, Urovant Sciences, a key player operating in the market, collaborated with actress and patient Holly Robinson Peete under a campaign to bring awareness to OAB. Such initiatives help increase awareness and knowledge about the treatment options thereby increasing treatment adoption.

Moreover, increasing investments to develop innovative formulations and treatments targeting OAB are anticipated to fuel growth over the forecast period. For instance, in November 2019, EBT Medical, Inc., a startup, received funding of USD 10 million in series A for developing noninvasive neuromodulation technology to treat overactive bladder. Thus, developments and investments focusing on medications and treatments are anticipated to fuel the geographic expansion.

Gather more insights about the market drivers, restrains and growth of the Global Overactive Bladder Treatment Market

Furthermore, industry participants are undertaking various strategies like collaborations and new product launches to maintain their position in this competitive market. For instance, in March 2023, KYORIN Pharmaceutical Co., Ltd. collaborated with Sumitomo Pharma Co., Ltd. to develop, manufacture, and commercialize Vibegron for OAB in Taiwan and other Asian Countries like Singapore, Hong Kong, Indonesia, and Vietnam. Such collaborations among major players are expected to increase the accessibility of drugs and treatments across the countries, which can further propel growth in the coming years.

Overactive Bladder Treatment Market Report Highlights

Mirabegron drug dominated the market in 2023 with a which can be attributed to the high adoption and prescription rate of Mirabegron for treating OAB

Among disease-type segments, the idiopathic overactive bladder segment was the largest revenue contributor for the industry in 2023 due to its high prevalence rate

In the distribution channel segment, the retail pharmacies dominated the market. The higher revenue growth is attributed to the presence of established retail pharmacies offering OAB drugs and its better patient compatibility

North America dominated the market for overactive bladder treatment in 2023 owing to the presence of key players such as Pfizer, Inc., AbbVie, Inc., and Viatris, Inc. across the region

Key Companies & Market Share Insights

The key players in the industry are undertaking various strategic initiatives to maintain their market presence. In addition, various strategic initiatives help market players to bolster their business avenues.

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