U.S. Urological Therapeutic Drugs and Devices Market Blazes Into the Next Millennium
Frost & Sullivan The U.S. Urological Therapeutic Drugs and Devices Market Blazes Into the Next Millennium
MOUNTAIN VIEW, Calif., Jan. 18 /PRNewswire/ -- First there was Viagra. Next, who knows? But one thing is certain, the future of the U.S. urological therapeutic drug and device market is looking very promising. Fueled by new technological advancements and growing consumer acceptance, the stage has been set for this market to skyrocket.
According to the latest strategic research study by Frost & Sullivan (www.frost.com), U.S. Urological Therapeutics: Drugs and Devices, in 1997, the market generated approximately $1.8 billion and grew a robust 23.4 percent. The market is projected to grow an astounding 50 percent from 1998 to 1999. The three primary market trends fueling this growth include: increased consumer awareness of urology diseases due to media attention on Viagra and prostate cancer, increased numbers of patients seeking treatment due to technologies and drugs that offer non-invasive treatment choices never before available and a growing generation of baby boomers.
Frost & Sullivan provides in-depth analysis of the following therapeutic drug and device markets: benign prostatic hyperplasia (BPH), prostate cancer, urinary incontinence, and erectile dysfunction. The key market opportunities are in erectile dysfunction drugs, incontinence drugs, brachytherapy for prostate cancer, and RF ablation and microwave therapy for BPH. In 1997, the erectile dysfunction drugs and devices market generated $203.8 million. The projected growth is primarily due to drug sales. The introduction of Viagra shined a new light on the market. The abundance of media attention on Viagra led to an increased awareness in the general population and a reduction in embarrassment about the condition. The entry of several new oral medications in the near future is expected to spur revenue growth to an even greater extent.
However, competitors must be wary of several issues that pose imminent threats to their market standing. Reimbursement is an extremely crucial issue. Limited reimbursement or lack thereof threatens market growth and opportunities. In addition, consumers are very concerned about the side effects of drugs. Historically, the severe side effects of these drugs and devices have scared away many consumers and restrained the market. Consequently, companies have invested heavily in research and development to reduce the severity of side effects. New technologies are being introduced, and there are many more on the horizon. However, the notorious reputation of severe side effects may continue to haunt these new treatments. This is evident in the BPH drug therapy market. Most physicians favor drug therapy over TURP (a surgical procedure) for treatment of BPH. However, end user acceptance will be restrained in the absence of long-term data on the efficacy and durability of the results of BPH drug therapy
Frost & Sullivan identifies eighty-four companies in the U.S. market. The competitors range in size from small start-ups to large, multi-national corporations. This diverse array of companies makes the market very dynamic. It is also highly competitive with many new market entrants.
The U.S. urological therapeutic drugs and devices market will experience tremendous growth in the next few years. Many people have recognized the lucrative profits that can be made in this market. Hence, it has attracted much interest by the investment community.
Market paticipants include: Abbott Laboratories, Ablation Technologies, American Medical Systems, Bard, Bayer Corporation, Berlex Laboratories, Best Industries, Inc., bioMerieux (psa), Boehringer Ingelheim Pharmaceuticals Inc., Bolan.Pharmaceutical, Bristol-Myers Squibb Company, Candela Corporation, Cheung Laboratories Columbia, Chiron (PSA), CIRCON Corporation, Clint Phamaceuticals, Coherent Medical, Inc., Dade Behring, Diagnostics Products Corp (PSA), Dornier Medical Systems, Inc., Dunhall Pharmaceuticals, EDAP Technomed, EDAP Technomed, U.S. Subsidiary: Eli Lilly & Company, Endocare, Inc., Focus Surgery, Inc., Forest Laboratories, Geneva Pharmaceuticals, Goldline Pharmaceuticals, Hauser, AF, Hoechst Marion Roussel Inc., Hybritech., Hyrex Pharmaceuticals, Imagyn Medical Technologies, Immunex Corporation, Indigo, International Isotopes, Johnson & Johnson, Karl Storz Endoscopy-America, Inc. Laserscope, Martec Pharmaceutical, Medtronic InStent, Mentor Corporation, Merck & Company Inc., Metra Biosystems, North American Scientific, Novacept, Novartis, Nycomed Amersham Healthcare, Olympus American Inc., Olympus America, Inc., Osbon Medical Systems Ltd., Parmed Pharmaceuticals, Pharmacia & Upjohn Inc., Pfizer Inc., Primedics Laboratories, Prosurg, Richard Wolf Medical, Instruments Corporation, Roche-Boehringer, Rugby Laboratories, Schein Pharmaceuticals, Schering-Plough Corporation, Schwarz Pharma Inc., Sharplan Lasers, Smithkline Beecham, Solvay Pharmaceuticals Inc. Surgical Laser Technologies, TAP Holdings Inc., Theragenics Corporation, Tosoh, United States Surgical Corporation, UroCor, Inc., Urologix, UroMed Corporation, Valleylab, Inc., VidaMed, Vivus Inc., Watson Laboratories, Wyeth-Ayerst Laboratories, Zeneca Pharmaceuticals, Urohealth Systems Inc., and Zonagen Inc.
Frost & Sullivan is an international marketing consulting company that monitors the medical industry for market trends, market measurements, and strategies. The ongoing research is utilized to update a series of research publications such as #5870-54 The U.S. Interventional Cardiovascular Devices Market, #5725-52 The U.S, European and Japanese Cancer Therapeutics Market, and #5676-54 The U.S. Disinfection and Sterilization Products Market to support industry participants with customized consulting needs.
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Report: 5719-54 Publication Date: Dec. 1998 Price: $4,450
SOURCE Frost & Sullivan
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