Overview of Myrbetriq
Myrbetriq, also known by its generic name mirabegron, is a beta-3 adrenergic receptor agonist used in the treatment of overactive bladder (OAB). It is one of the leading drugs in the OAB market, known for its efficacy in reducing the frequency of urination and the urgency to urinate.
Current Market Position
Myrbetriq is the market leader in the OAB treatment market, available across all eight major markets (8MM), which includes the United States, Japan, and several European countries. As of 2020, Myrbetriq accounted for a significant market share of 52.6% in the global OAB drug market[1].
Sales Projections
Global Sales Forecast
The global sales of Myrbetriq are projected to contribute significantly to the overall growth of the OAB drug market. From 2020 to 2030, the global OAB drug market is expected to grow from $2.2 billion to $2.8 billion at a Compound Annual Growth Rate (CAGR) of 2.7%. Myrbetriq is anticipated to remain a dominant player in this market[1].
Market Growth Drivers
The growth of Myrbetriq sales is driven by several factors:
- Increasing Prevalence of OAB: The prevalence of OAB is expected to rise due to aging populations, which will expand the treatment pool[1].
- Market Penetration: Despite being available for several years, Myrbetriq continues to see steady market penetration, especially in regions where it has recently been approved or is gaining traction[1].
Challenges and Opportunities
Patent Expiries and Generic Competition
One of the significant challenges facing Myrbetriq is the potential impact of patent expiries. The early-to-mid forecast period (2020-2025) is expected to see a decline in market sales due to patent expiries for key products, including Myrbetriq. However, the launch of several pipeline products in the mid-to-late forecast period (2025-2030) is anticipated to provide a boost to market sales[1].
Untapped Potential
The OAB market is characterized by significant untapped potential due to factors such as social stigma and lack of knowledge among healthcare professionals. This presents an opportunity for increased diagnosis and treatment rates, which could further drive the sales of Myrbetriq[1].
Competitive Landscape
Other Therapeutic Options
Myrbetriq competes with other therapeutic options such as antimuscarinics, which are highly genericized, and other beta-3 adrenergic receptor agonists like Gemtesa (vibegron). Additionally, neuromuscular blocking agents like Botox (onabotulinumtoxinA) are also used as alternative treatments for patients refractory to oral drugs[1].
Market Share
Despite the competition, Myrbetriq holds a significant market share. The mirabegron segment is anticipated to register the highest CAGR during the forecast period from 2022 to 2028, indicating its continued dominance in the market[4].
Regional Performance
Global Availability
Myrbetriq is widely available across major markets, including the United States, Japan, and several European countries. Its global availability and acceptance contribute to its strong market position[1].
Regional Growth
The sales of Myrbetriq are expected to grow steadily across different regions. In the United States, for example, it remains a key treatment option, while in other regions, its market penetration is expected to increase as more countries approve and adopt the drug[1].
Financial Performance and Projections
Revenue Growth
The financial performance of Myrbetriq has been robust, with the drug contributing significantly to the revenues of its manufacturer. The global OAB market, driven in part by Myrbetriq, is forecasted to grow at a CAGR of more than 2% from 2021 to 2030[3].
Future Outlook
For the period from 2022 to 2028, the global OAB treatment market, including Myrbetriq, is projected to reach USD 5,333.92 million from USD 4,295.93 million in 2021, growing at a CAGR of 3.1%[4].
Key Takeaways
- Market Leadership: Myrbetriq is the market leader in the OAB treatment market.
- Sales Projections: Global sales are projected to grow from $2.2 billion in 2020 to $2.8 billion in 2030.
- Growth Drivers: Increasing prevalence of OAB and aging populations.
- Challenges: Patent expiries and generic competition.
- Opportunities: Untapped potential due to social stigma and lack of knowledge among healthcare professionals.
- Competitive Landscape: Competes with antimuscarinics, Gemtesa, and Botox.
- Regional Performance: Widely available across major markets with steady growth expected.
FAQs
What is Myrbetriq used for?
Myrbetriq is used for the treatment of overactive bladder (OAB), reducing the frequency of urination and the urgency to urinate.
What is the current market share of Myrbetriq in the OAB drug market?
As of 2020, Myrbetriq accounted for a market share of 52.6% in the global OAB drug market[1].
What are the projected global sales of the OAB drug market by 2030?
The global OAB drug market is projected to increase from $2.2 billion in 2020 to $2.8 billion in 2030[1].
What are the main challenges facing Myrbetriq in the market?
The main challenges include patent expiries and the resulting generic competition, as well as social stigma and lack of knowledge among healthcare professionals[1].
How does Myrbetriq compare to other therapeutic options in the OAB market?
Myrbetriq competes with antimuscarinics, Gemtesa (vibegron), and Botox (onabotulinumtoxinA), but it remains the market leader due to its efficacy and widespread availability[1].
What is the projected CAGR for the global OAB treatment market from 2022 to 2028?
The global OAB treatment market is projected to grow at a CAGR of 3.1% from 2022 to 2028[4].
Sources
- ResearchAndMarkets.com, "Global Overactive Bladder Drug Forecast and Market Analysis to 2030"[1].
- Astellas Pharma Inc., "Financial Results for FY2023"[2].
- DrugPatentWatch, "When do the MYRBETRIQ patents expire, and when will generic versions be available?"[3].
- The Insight Partners, "Overactive Bladder Treatment Market Revenue Report, Trends, Growth, Demand & Forecast to 2028"[4].
