The US urinary tract infection therapeutics market is anticipated to grow at a CAGR of ~2% and become a ~USD 2Bn industry by 2028. Currently, this industry has a market size of ~USD1.8 Bn.
STORY OUTLINE
- The rising age of the population is one of the major factor responsible for the growth of the US UTI Therapeutics market.
- The rise in government expenditure towards the healthcare sector also pose as growth inhibitor for the US UTI Therapeutics market.
- The adoption of Telemedicine by people of the United States also act as an accelerating force in the US UTI Therapeutics market.
- Increasing focus on the development of novel therapeutics also helps in pumping the US UTI Therapeutics market.
A fast growing industry, increasing geriatric population, increasing health expenditure by US government, and rise in health consulting apps and websites along with focus on the development of novel therapeutics are the various reasons behind the growth and expansion of the US UTI Therapeutics Market. This market is predicted to grow at a CAGR of ~2% in the next five years.
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1. Increasing geriatric population: a major factor responsible for the growth of US UTI Therapeutics market
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The ageing or geriatric population has been constantly rising in the United States over the year. In 1980s, there were ~25000 elderly per 100,000, in 1990s, the number rose to ~32,000 elderly per 100,000. In 2000s, there were almost ~35000 elderly per 100,000. In 2010s, there happened to be ~40,000 elderly per 100,000. In 2020s, the number saw a massive rise and there were ~55000 elderly per 100,000. Lastly, there are expected to be ~70,000 elderly per 100,000 in the 2030s.
Now what is the connection between ageing population and UTI Therapeutics market?
The answer is UTI prevalence.
The prevalence of Urinary Tract Infection is 10% in women > 65 years and 30% in women > 85 years. The incidence of Urinary Tract Infection in older men is anticipated to increase 0.05 per person per year. When elderly have such high prevalence of UTIs, the ageing population becomes a major factor that contributes in the growth of the US UTI Therapeutics market.
As the ageing population rises, the prevalence of UTI cases also rises and as the UTI cases rise, there becomes the need to develop effective and efficient medicines to treat and reduce the prevalence of UTIs thereby accelerating the US UTI Therapeutics market.
2. Rise in government expenditure in the healthcare industry
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The United States government expenditure in the healthcare sector has been constantly rising over the years. The expenditure from government helps in accelerating the US UTI Therapeutics market as more and more start to go to doctors for common conditions like UTIs and pharmaceutical companies get more funds in developing medicines and vaccines.
The US government allocated a budget of around USD 3.4 Tn. in 2017, USD 3.6 Tn. in 2018, USD 3.7 Tn. in 2019, USD 4.1 Tn. in 2020, USD 4.2 Tn. 2021. The expenditure saw a massive hike of 10% in 2020 from 2019’s expenditure owing to Covid-19.
Expenditure helps not only in the growth of healthcare industries but also in the growth of the whole country. It also motivates people to seek medical help for common health conditions such as various infections. Moreover, it also helps in the development of various medications and vaccines by hospitals, research centers and pharmaceutical companies as they have enough funds available.
3. The rising use of health apps and websites: pumping the growth of US UTI Therapeutics Market
Telemedicine is trending. Nowadays mostly every doctor and hospital are going online. Telemedicine is not only convenient for doctors but also for the patients.
People in the US have been accepting and adopting Telemedicine and related applications pretty well. Moreover, UTI is a health condition that may let people feel a little embarrassed in directly going to the doctor. Thus, they may feel more comfortable in communicating with people over telephone or internet.
32% people in 2019, 43% people in 2020, 51% people in 2021, and 43% people in 2022 accepted Live Video to talk to doctors regarding their medical problems.
64% people in 2019, 47% people in 2020, 45% people in 2021, and 47% people in 2022 accepted Live Phone to communicate their medical concerns.
Telemedicine has allowed people to freely reach medical experts whenever they are comfortable. When people reach out to doctors for their medical problems especially Urinary Tract Infections, it becomes easier to doctors find out the infections rates, what medicines are working and what are not, and helps in further developing medicines by keeping in mind the body demands of the people, which ultimately helps in the growth of the US UTI Therapeutics Market.
4. Focus on the development on novel therapeutics: pumping the US UTI Therapeutics market
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Urinary Tract Infections are primarily treated by the use of antibiotics. They are highly efficient in treating Urinary Tract Infections. However, this is not the case for everyone. Antibiotics resistance is a major problem in the treatment of Urinary Tract Infections.
Antibiotics resistance can be best described as a situation wherein the bacteria tend to change their response to the use of antibiotics. In simple words, it means that bacteria are able to live and survive despite the use of antibiotics which are supposed to kill them.
Approximately 90% of urinary tract infection causing bacteria have become resistant to at least 1 antibiotic and approximately 80% of bacteria happen to be resistant to at least 2 antibiotics. This pose as a major problem as the effective antibiotics can no longer be used in the treatment of Urinary Tract Infections.
This results in the need for the development of novel therapeutics for the treatment of UTIs. Now doctors, scientists and pharmaceutical companies are looking for alternative treatment methods to treat UTIs.
Nowadays, there are various vaccines available to treat UTIs that are not antibiotic in nature. Some of these vaccines are ExPEC4V, Uro-Vaxom, Uromune, Urovac, etc.
Various herbs such as Armoraciae rusticanae, Tropaeoli majoris, Agropyron repens and Zea mays were also found to be effective in treating Urinary Tract Infections.
The need to further develop novel therapeutics due to rising antibiotic resistance helps in the growth of US UTI Therapeutics market as antibiotics are losing their efficacy and doctors, scientists and pharmaceutical have to find alternative ways of treating UTI thereby accelerating the US UTI Therapeutics market.
Companies covered in the Report:
- Pfizer
- Bristol Myers Squibb
- Johnson & Johnson
- AbbVie
- Merck & Co.
- Dendreon
- Zydus Pharamceuticals
Key target audience
- Therapeutics companies
- Potential market entrants
- Government bodies and institutions
- Healthcare research institutes
- Hospitals
- Patients
- Investors
- Venture Capitalists
- Medical educational institutes
Time Period Captured in the Report:
- Historical period: 2017-2022
- Base year: 2022
- Forecast period: 2022-2028
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