Dublin, May 06, 2024 (GLOBE NEWSWIRE) -- The "Interstitial Cystitis Drugs Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The interstitial cystitis drugs market size has grown from $1.28 billion in 2023 to $1.36 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth observed in the historical period can be ascribed to several factors, including heightened awareness of diseases, advancements in diagnostic techniques, increased investments from the pharmaceutical industry, a rise in healthcare spending, collaborative research endeavors, and the presence of patient advocacy and support groups.
The interstitial cystitis drugs market size is expected to see continued growth in the next few years, reaching a projected $1.67 billion in 2028 at a CAGR of 5.3%. The anticipated growth in the forecast period is linked to several factors, including a heightened focus on rare diseases, the expansion of biopharmaceutical innovation, regulatory backing for orphan drugs, a growing global disease burden, the adoption of patient-centric healthcare approaches, and ongoing collaborative research initiatives. Noteworthy trends expected in the forecast period encompass progress in diagnostic techniques, the emergence of targeted therapies, the promotion of patient-centric approaches, collaborative research initiatives, advancements in surgical interventions, and the development of biomarkers.
The anticipated increase in chronic diseases is poised to drive the expansion of the interstitial cystitis drug market in the future. Chronic diseases denote enduring health conditions persisting over an extended period, often throughout an individual's lifetime. Drugs for cystitis target and eliminate bacteria causing urinary tract infections, addressing symptoms such as painful urination, frequent urination, and urgency linked to chronic diseases such as urinary tract infections (UTIs). Notably, in January 2023, the National Institute of Health, a US-based public health research agency, reported that urinary tract infections accounted for over 1 million emergency department visits in the US, ranking as the seventh most common reason for such visits. Among these cases, 22% (220,000) were considered complicated UTIs, leading to approximately 100,000 hospital admissions annually. Consequently, the increasing incidence of chronic diseases propels the growth of the interstitial cystitis drug market.
The surging demand for personalized medicine is anticipated to fuel the advancement of the interstitial cystitis drug market. Personalized medicine represents an innovative medical treatment approach considering individual differences in genes, environments, and lifestyles. This approach enhances the efficacy of interstitial cystitis drugs by tailoring treatments to individual patient characteristics, optimizing therapeutic outcomes, and minimizing adverse effects, thereby improving the overall management of interstitial cystitis. For example, in 2022, the Food and Drug Administration's Center for Drug Evaluation and Research (CDER) approved 37 new molecular entities (NMEs). Among the 35 therapeutic NMEs, approximately 34% (12 of them) are classified as personalized medicines by the Personalized Medicine Coalition (PMC). Hence, the increasing demand for personalized medicine propels the growth of the interstitial cystitis drug market.
The growth of the interstitial cystitis drugs market is expected to be hampered by restricted research and development efforts. Insufficient research activities can impede the progress of new treatment options and the comprehension of interstitial cystitis. For instance, as of March 2023, the American Medical Association, a professional association and advocacy group for physicians and medical students in the United States, reported that health spending in the country saw a 2.7% increase in 2021, reaching $4.3 trillion, or $12,914 per capita. This figure is notably lower than the 10.3% increase observed in 2020. Consequently, the limited scope of research and development activities is acting as a constraint on the expansion of the interstitial cystitis drugs market.
Leading companies in the interstitial cystitis drugs market are increasingly concentrating on the development of novel treatment options to gain a competitive advantage. These options encompass drugs used for treating a specific disease, including both established treatments and experimental options undergoing clinical trials. For example, in April 2021, Kyorin Pharmaceutical Co. Ltd., a pharmaceutical company based in Japan, introduced Zymso Intravesical Solution 50%, a fresh treatment alternative for interstitial cystitis. This intravenous infusion, containing 50% (w/w) dimethyl sulfoxide, effectively alleviates interstitial cystitis symptoms. Zymso's introduction followed the successful results of a phase III clinical trial conducted in Japan, demonstrating its efficacy in symptom improvement for interstitial cystitis. The trial involved 96 interstitial cystitis patients randomly assigned to receive either Zymso or a placebo. After six weeks of treatment, patients receiving Zymso exhibited significant symptom improvement compared to those receiving the placebo. This launch is crucial for addressing interstitial cystitis and is anticipated to provide relief to individuals grappling with this persistent condition.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Report Scope
Markets Covered:
- By Drugs: Pentosan Polysulfate Sodium; Dimethyl Sulfoxide; Other Drugs
- By Type: Oral Therapy; Intravesical Therapy
- By Distribution Channel: Hospital Pharmacies; Retail Pharmacies; Online Pharmacies
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $1.36 Billion |
| Forecasted Market Value (USD) by 2028 | $1.67 Billion |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
Companies Profiled:
- Pfizer Inc.
- Johnson & Johnson
- Merck & Co. Inc.
- AbbVie Inc.
- Bayer
- Novartis
- Sanofi
- GlaxoSmithKline
- Eli Lilly and Company
- Amgen Inc.
- Viatris Inc.
- Teva Pharmaceutical Industries Ltd.
- Astellas Pharma Inc.
- Boehringer Ingelheim International GmbH
- UCB S.A.
- Sun Pharmaceutical Industries Ltd.
- Perrigo Company PLC
- Cipla Limited
- Ferring B.V.
- Grunenthal Pharma
- Kyorin Pharmaceutical Co. Ltd
- Seikagaku Corporation
- UroGen Pharma
- Alivio Therapeutics
- Imbrium Therapeutics
- Urigen Pharmaceuticals
- Lipella Pharmaceuticals
- GlycoMira Therapeutics Inc.
For more information about this report visit https://www.researchandmarkets.com/r/hu1sfg
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