Flavoxate hydrochloride is a muscle relaxant with urinary antispasmodic properties. Flavoxate binds to the muscarinic receptors which suppresses micturition reflex. It helps in modifying micturition center in the brain stem by increasing capacity of the urinary bladder. Therefore, this provides relief from dysuria, urgency, nocturia, suprapubic pain, frequency, and incontinence. Manufacturers such as Epic Pharma LLC, Perrigo Company PLC, Incepta Pharmaceuticals Ltd., Recordati S.p.A, and others offer generic flavoxate hydrochloride tablets in the market.
Global Flavoxate Hydrochloride Tablets Market Drivers
Key players are focusing on manufacturing of drugs in the global flavoxate hydrochloride tablets market. Several generic players have launched their products after the patent expiration of Urispas in the year 2004, manufactured by Janssen Pharmaceuticals, Inc. For instance, companies such as Paddock Laboratories LLC and Epic Pharma LLC launched generic products for Urispas, which are cheaper than branded products in the year 2004 and 2011, respectively.
Increasing incidence of lower urinary tract dysfunction such as prolonged micturition, incomplete bladder emptying, and others are expected to support growth of the market. For instance, according to a review article by Investigative and Clinical Urology, 2017, globally, around 10% of the geriatric population is suffering from urine incontinency while it is estimated to reach 20% by 2050. According to the same source, in South Korea, in population aged 70 years above, 48% of men and 12% of women are expected to suffer from detrusor contractile dysfunction in 2017. As per the Central Medicare and Medicaid Services (CMS), U.S., around US$ 8,800 million of flavoxate hydrochloride tablets have been consumed in the year 2017 by patients in U.S. suffering from insomnia. These factors are expected to support the global flavoxate hydrochloride tablets market growth over the forecast period.
Global Flavoxate Hydrochloride Tablets Market Restraints
Following factors are expected to restrain the global flavoxate hydrochloride tablets market growth over the forecast period. New medicines have been introduced in the market which belong to different chemical class than flavoxate hydrochloride which is expected to restrain growth of the flavoxate hydrochloride market. For instance, Merck & Co. Inc., received approval for Recabrio by U.S. Food and Drug Administration (FDA) in the year 2019. Recabrio is the combination of three different drugs i.e. Imipenem (antibacterial agent), Cilastatin (dehydropeptidase inhibitor), and Relebactam (beta lactamase inhibitor), a multifunctional drug useful for the treatment of urinary tract infection while flavoxate hydrochloride is a muscle relaxant.
Global Flavoxate Hydrochloride Tablets Market Regional Analysis
North America is expected to hold dominant position in the global flavoxate hydrochloride tablets market over the forecast period, owing to the large customer base and increase in incidence of lower urinary tract dysfunction. Increasing prevalence of lower urinary tract dysfunction is expected to boost the North America flavoxate hydrochloride tablets market growth. For instance, according to the article from Neuroimmunology and Neuroinflammation, 2019, 291,000 individuals in the U.S. were suffering from lower urinary tract dysfunction due to spinal cord injury.
According to the Arab Journal of Urology, 2019, in Europe 66% of women were suffering from lower urinary tract dysfunction mainly due to reasons such as nocturia, urgency, and urinary tract infections. According to the Hong Kong Medical journal, 2019, in Asia, around, 77.8% of men and 77.3% of women over the age of 40 suffer from mild degree of lower urinary tract symptoms. The above factors are expected to support the global flavoxate hydrochloride tablets market growth over the forecast period.
Global Flavoxate Hydrochloride Tablets Market Key Players
Some of the key players operating in the global flavoxate hydrochloride tablets market are Epic Pharma LLC, Perrigo Company PLC, Manus Aktteva Biopharma LLP, Recordati S.p.A, Taj Pharmaceuticals Ltd., Trumac Healthcare, Zhejiang CONBA Pharmaceutical co., ltd., Walter Bushnell, and Cipla Inc.
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