Reports and Insights (R&I) has published a new report titled, “Vaginitis Therapeutics Market: Opportunity Analysis and Future Assessment 2020 to 2028”
Global Vaginitis Therapeutics Market, by Product (Anti-fungal, Anti-bacterial, and Hormone), by Type (Over the counter and Prescription (Rx)), By End-Users (Hospitals, Clinics, Ambulatory Surgical Centres, Specialized Gynaecology Centres, Other) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global vaginitis therapeutics market in 2020 is estimated for more than US$ 2.8 Bn and expected to reach a value of US$ 5.4 Bn by 2028 with a significant CAGR of 8.5%.
Vaginitis is defined as a condition that is capable of causing inflammation of the vagina with abnormal vaginal discharge, irritation, itching or even burning. The main cause behind this condition is bacterial vaginosis, vulvovaginal candidiasis, and trichomoniasis. Vaginitis can be diagnosed using a combination of symptoms, physical examination findings, or even laboratory tests.
As per the report, the prime factors supporting the growth of the vaginitis therapeutics market are the elevated count of vaginitis cases, ongoing research and development activities supporting the invention, development and optimization of vaginitis therapeutics and increasing number of women of reproductive age across the globe. The market is also affected by the changing dietary patterns coupled with the increasing disposable income.
Moreover, the supportive government’s initiatives to create awareness about vaginitis among women across both developed and developing nation is also boosting the growth of this market. Additionally, a funded research from the National Institute of Allergy and Infectious Disease (NIAID) also discovered significant data about yeast generative behaviour, which serves to be an essential data that can be used during the invention of the drug.
Higher efficiency and the safety of prescribed drug also increases the demand for vaginitis drug across the globe. However, the threat from the substitutes may be responsible for hampering the growth of the global vaginitis therapeutics market.
Furthermore, Reports and Insights (R&I) Study identifies that the increasing adoption of products treating vaginitis coupled with the presence of products in pipelines also serves to be the market drivers of the market. The demand for vaginitis therapeutics is more from the developed nations like North America and Europe, owing to the high-quality healthcare services offered coupled with the elevated count of vaginitis cases within the region.
However, market growth may be hampered by the high cost associated with the research and development activities in emerging nations. Availability of alternates or natural remedies coupled with the stringent government norms associated with the approval of drugs also negatively affects the growth of the global vaginitis therapeutics market. Besides, the penetrating competition between key players and the downside risk of the economy is considered to be the major challenge of this market.
R&I Study identifies some of the key participating players in the vaginitis therapeutics market globally are Symbiomix Therapeutics LLC, Merck & Co., Inc., Pfizer Inc., Novartis AG, Teva Pharmaceutical Industries Ltd., Bayer AG, Janssen Pharmaceuticals Inc., Lupin Pharmaceuticals Inc., Lumavita AG, and Mission Pharmacal Company.
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