Hematuria Treatment Market Will Generate New Growth Opportunities in Upcoming Year
Hematuria Treatment Market: Introduction
- Hematuria is the presence of blood in a person’s urine. There are a number of causes for blood in urine, such as urinary tract infections, bladder or kidney stone, kidney infections (pyelonephritis), kidney disease, cancer, enlarged prostate, kidney injury, and kidney disease. Improvements in understanding of the physiological mechanism responsible for hematuria have led to developments in the treatment of the condition.
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- Antibiotics prescribed for the treatment depend on what part of the tract is to be treated. However, developments in route of administration and different concentration of drugs enable prevention of the disease or infection to spread to cellular and molecular levels.
Key Drivers and Restraints of Global Hematuria Treatment Market
- Incidences of hematuria increases with age, and people above 35 years of age are likely to develop the symptoms of hematuria. According to the International Incontinence Society, approximately 70% to 80% of people aged 80 years, experience symptoms of an overactive bladder.
- Geriatric population is expected to increase the patient pool worldwide, which, in turn, is projected to drive the hematuria treatment market during the forecast period. According to the World Health Organization (WHO), the elderly population in the world is likely to reach about 2 billion (22% of the global population) by 2050 as compared to 617 million population in 2015.
- High prevalence of diseases such as UTI and kidney stone, increase in incidences of hematuria among adults, surge in awareness, extensive research and development activities, advent of high-throughput screening (HTS) for drug discovery, and FDA approvals for drugs are major factors driving the global hematuria treatment market. Currently, the societal cost of UTI infections, including health care costs and time missed from work, is approximately US$ 3.5 Bn per year in the U.S. alone.
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Retail Pharmacies to be Most Attractive Distribution Channel Segment
- In terms of distribution channel, the retail pharmacies segment accounted for the second largest share of the hematuria treatment market in 2018. Increase in the number of hematuria therapeutics being dispensed through retail pharmacies and growth in the number of retail pharmacies in developing countries render these pharmacies as a major channel of distribution. Moreover, patients prefer retail pharmacies to purchase drugs, as they are easily accessible.
- The online pharmacies segment is likely to expand at a rapid CAGR during the forecast period. Increasing popularity of online pharmacies for obtaining prescribed drugs and adoption of this distribution channel by customers are factors fueling the growth of this segment.
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North America to Lead Global Hematuria Treatment Market
- In terms of region, the global hematuria treatment market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
- North America is projected to be the most attractive market for hematuria treatment. Early adoption of branded products, favorable medical reimbursement policies, recent FDA approvals, large number of drugs in pipeline, focus on reducing the number of undiagnosed hematuria cases, and early treatment are factors anticipated to drive the hematuria treatment market in the U.S. and Canada during the forecast period.
- Europe is projected to be the second most attractive market for hematuria treatment. This market in Europe is driven by the increase in the demand for new therapeutics, extensive research in the field of urinary tract infection care, and geographical expansion of market players.
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Key Manufacturers Operating in Global Market
The global hematuria treatment market is highly fragmented, in terms of number of players. Key manufacturers operating in the global market are:
- Pfizer, Inc.
- AstraZeneca plc
- Novartis International AG.
- Johnson & Johnson
- Hoffmann La Roche Ltd.
- Teva Pharmaceutical Industries Ltd.
- Boehringer Ingelheim GmbH
- Cipla Ltd.
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