Botulinum Toxin In Urology Market Size, Share & Trends Analysis Report By Application (Overactive Bladder, Neurogenic Detrusor Overactivity), By End-use (Hospitals, Urology Clinics), By Region, And Segment Forecasts, 2023 - 2030

Botulinum Toxin In Urology Market Size, Share & Trends Analysis Report By Application (Overactive Bladder, Neurogenic Detrusor Overactivity), By End-use (Hospitals, Urology Clinics), By Region, And Segment Forecasts, 2023 - 2030

Botulinum Toxin In Urology Market Growth & Trends

The global botulinum toxin in urology market size is anticipated to reach USD 1.45 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 6.0% from 2023 to 2030. The demand for botulinum toxin is growing due to a rise in the prevalence of neurogenic bladder, rising geriatric population associated with urinary condition problems and urinary incontinence. For instance, in May 2023, according to the U.S. Census Bureau 2020, around 55.8 million or 16.8% of the population in the U.S. has been classified as older. As a result, the rising geriatric population has led to an increase in urinary condition problems, further leading to market growth.

In addition, in May 2023, according to the Continence Foundation of Australia, urinary incontinence affects about 38% of women and 10% of men in Australia. Thus, the increase in the prevalence of urinary incontinence raised the growth of the market. Urinary incontinence is caused due to constipation, pelvic floor disorders, stroke, and side effects of certain medications.

However, rising investment in R&D by government and private organizations to explore the therapeutic approach of botulinum in the urology sector creates new opportunities for the market. For instance, in July 2022, AbbVie Inc. and Allergan PLC presented more than 30 abstracts, including seven podium presentations at the TOXINS 2022 Conference in New Orleans. It highlighted preclinical research, clinical studies, and real-world utilization data of onabotulinumtoxinA. Thus, increased funding by various institutions boosts market growth.

Botulinum Toxin In Urology Market Report Highlights

• In terms of application, the overactive bladder segment held the largest market share of 67.14% in 2022 and it is anticipated to register the fastest CAGR over the forecast period. Factors such as abdominal trauma, excessive alcohol consumption, and nerve damage increase the incidence of overactive bladder, further increasing the segment's growth
• Based on end-use, the hospitals segment held the largest market share of 73.74% in 2022. The growing number of hospitals in developing nations and technological advancements are fueling the market growth of this segment
• North America region emerged as the leading market region in 2022, holding the largest share of 37.41%. The region's robust healthcare infrastructure, skilled healthcare professionals, and advanced medical facilities contribute to the market growth in the region.
• The Asia Pacific region is anticipated to register the fastest CAGR of 7.3% over the forecast period owing to the increased prevalence of chronic diseases and diabetes

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