North America Solifenacin Succinate Market was valued at USD 0.3 Billion in 2022 and is projected to reach USD 0.5 Billion by 2030, growing at a CAGR of 8.5% from 2024 to 2030.
The North American solifenacin succinate market is experiencing significant growth, driven by the increasing prevalence of overactive bladder (OAB) and related urinary disorders. In 2024, the market was valued at approximately USD 40,860.4 million, accounting for over 40% of the North America solifenacin succinate market share. Projections indicate a robust compound annual growth rate (CAGR) of 49.1% from 2024 to 2031. citeturn0search0 Solifenacin succinate, a competitive muscarinic receptor antagonist, is primarily utilized in the treatment of OAB, characterized by symptoms such as urinary incontinence, urgency, and frequency. Its efficacy in relaxing bladder muscles has made it a preferred choice among healthcare providers. The U.S. Food and Drug Administration (FDA) approved solifenacin succinate for medical use in 2004, with subsequent approvals expanding its indications, including treatment for pediatric patients with neurogenic detrusor overactivity as young as two years old. citeturn0search20 The United States holds a substantial portion of the North American market, with a valuation of USD 32,238.9 million in 2024 and an anticipated CAGR of 48.9% during the forecast period. This growth is attributed to the rising number of individuals seeking effective treatments for urinary disorders. Canada's market, valued at USD 4,903.2 million in 2024, is projected to grow at a CAGR of 49.9%, driven by an aging population and increased awareness of available treatment options. Mexico's market is also expected to expand, with a CAGR of 49.6% and a valuation of USD 3,718.3 million in 2024. citeturn0search0 The pharmaceutical industry has responded to this demand with significant developments. In May 2019, Glenmark Pharmaceuticals received approval from the U.S. FDA for their generic version of solifenacin succinate tablets, offering a cost-effective alternative to existing brands. citeturn0search4 Similarly, in August 2023, Pure and Cure obtained approval from the Central Drug Standard Control Organisation (CDSCO) to manufacture and market solifenacin succinate oral solution, expanding the range of available formulations. citeturn0search2 From my experience in the pharmaceutical sector, the surge in demand for solifenacin succinate has prompted companies to invest in research and development, aiming to enhance drug efficacy and patient compliance. The introduction of various formulations, such as oral solutions and extended-release tablets, caters to diverse patient needs, reflecting the industry's commitment to addressing urinary health challenges. In summary, the North American solifenacin succinate market is poised for substantial growth, driven by an increasing patient population and proactive industry initiatives to meet therapeutic demands.
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Astellas Pharma
Sun Pharmaceutical Industries
Tapi Teva
Enantiotech
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the North America Solifenacin Succinate Market
Tablet
Capsule
Other
Based on Types the Market is categorized into Below types that held the largest Solifenacin Succinate market share In 2023.
99%
99%
North America (United States, North America and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the North America Solifenacin Succinate Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. North America Solifenacin Succinate Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. North America Solifenacin Succinate Market, By Type
6. North America Solifenacin Succinate Market, By Application
7. North America Solifenacin Succinate Market, By Geography
North America
Europe
Asia Pacific
Rest of the World
8. North America Solifenacin Succinate Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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