Jersey City, NJ, Dec. 05, 2023 (GLOBE NEWSWIRE) -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Botulinum Toxin in Urology Market- (By Application (Overactive Bladder, Neurogenic Detrusor Overactivity), By End-use (Hospitals, Urology Clinics)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."
According to the latest research by InsightAce Analytic, the Global Botulinum Toxin in Urology Market is valued at US$ 903.82 Mn in 2022, and it is expected to reach US$ 1,504.89 Mn by 2031, with a CAGR of 5.94% during the forecast period of 2023-2031.
Botulinum toxin, a substance generated by the bacterium Clostridium botulinum, functions as a selective inhibitor of acetylcholine, which is produced by nerves and serves to impede neural transmission within muscles when injected. The escalating demand for botulinum toxin is attributable to various factors, including the expanding elderly demographic, the upsurge in botulinum toxin procedures, and the increasing prevalence of neurogenic urologic disorders like refractory urinary incontinence, urgency, and frequency. Moreover, the utilization of botulinum toxin injections in treating a range of lower urinary tract conditions, such as overactive bladders, bladder pain syndrome, and pediatric urinary incontinence, among others, is anticipated to stimulate market growth during the forecast period.
Additionally, on a global scale, the growing elderly population, particularly those aged 65 and older, is expected to exert a significant influence on market expansion, primarily in the context of urinary tract conditions like urinary incontinence, where botulinum toxin injections are often required for treatment.
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Recent Developments:
- In February 2021, Allergan, a subsidiary of AbbVie, has received approval from the U.S. FDA for the use of BOTOX® in the treatment of detrusor overactivity (bladder muscle overactivity) linked to a neurologic condition in pediatric patients aged five years and above who have not responded well to or cannot tolerate anticholinergic medication.
List of Prominent Players in the Botulinum Toxin in Urology Market:
- AbbVie Inc.
- Merz Pharma
- Ipsen Pharma
- GALDERMA
- Allergan PLC
- Sun Pharmaceutical Industries Lt
- Biosensor Healthcare Pvt Ltd
- Others
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Botulinum Toxin in Urology Market Report Scope:
| Report Attribute | Specifications |
| Market Size Value In 2022 | USD 903.82 Mn |
| Revenue Forecast In 2031 | USD 1,504.89 Mn |
| Growth Rate CAGR | CAGR of 5.94 % from 2023 to 2031 |
| Quantitative Units | Representation of revenue in US$ Million and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report Coverage | The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
| Segments Covered | By Application and End-Use |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
Market Dynamics:
Drivers:
The botulinum toxin in the urology market is marked by increasing demand, a growing patient population, the presence of key industry players, strong healthcare infrastructure, and rising awareness, making it a significant and dynamic segment within the broader healthcare industry. Growing public awareness regarding the effectiveness of botulinum toxin in treating urologic conditions contributes to an expanding patient base and market growth. The expanding elderly demographic is linked to the rising need for botulinum toxin injections. Furthermore, the heightened commitment of leading market players to research and develop the therapeutic applications of botulinum toxin for urinary tract conditions is creating avenues for market growth in the projected time. The substantial presence of established industry leaders in the botulinum toxin market enhances accessibility and promotes competition, leading to innovations and market growth.
Challenges:
Stringent regulations and approval processes can be a hurdle, particularly for new applications and variations of botulinum toxin in urology. Ensuring compliance with regulatory authorities can be time-consuming and costly. Botulinum toxin treatments can be expensive, and not all patients can afford them. Cost constraints and limited insurance coverage may restrict access to these treatments. Meeting regulatory requirements and obtaining approvals for botulinum toxin applications in urology can be a time-consuming and costly process, which can hinder market growth.
Regional Trends:
The North American botulinum toxin in the urology market is expected to record a major market share. The presence of established industry players, rigorous regulatory oversight, and cost-related considerations. While it has seen growth, it also faces challenges such as competition, reimbursement policies, and the emergence of alternative treatments. Besides, Asia Pacific had a considerable share of the market. North America has a well-developed healthcare infrastructure, making botulinum toxin treatments more accessible to patients. As the population in Asia Pacific ages, there is an increased prevalence of urological conditions, such as overactive bladder and urinary incontinence, making the need for effective treatments more significant. Increased awareness of treatment options and improved accessibility to healthcare in the Asia Pacific region have contributed to the growth of this market.
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Segmentation Of Botulinum Toxin in Urology Market-
By Application
- Overactive Bladder
- Neurogenic Detrusor Overactivity
By End-use
- Hospitals
- Urology Clinics
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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