Benign Prostatic Hyperplasia Treatment Market is Expected to Reach $14.1 billion | MarketsandMarkets.
Chicago, March 22, 2023 (GLOBE NEWSWIRE) -- In the near future, the Benign Prostatic Hyperplasia (BPH) treatment industry is likely to see further developments and advancements in treatment options. Medications are likely to become more effective and have fewer side effects, and the use of minimally invasive surgical techniques for BPH treatments is likely to increase. Prostate artery embolization, a minimally invasive procedure, has recently been approved by the United States Food and Drug Administration, and is becoming more widely used to treat BPH. In addition, more research is being conducted into the use of lasers, microwave energy, and other energy-based treatments for BPH. As technology and treatment options advance, the industry is likely to become more competitive and offer more personalized treatment plans for patients.
Benign Prostatic Hyperplasia Treatment market in terms of revenue was estimated to be worth $10.8 billion in 2021 and is poised to reach $14.1 billion by 2026, growing at a CAGR of 5.3% from 2021 to 2026 according to a latest report published by MarketsandMarkets™. The growth of this market is driven by the increasing prevalence of benign prostatic hyperplasia, the rising preference for minimally invasive surgeries, increasing obesity rate, and investments, funds, and grants for research in the field of BPH treatment.
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Benign Prostatic Hyperplasia Treatment Market Scope:
| Report Coverage | Details |
| Market Revenue in 2021 | $10.8 billion |
| Estimated Value by 2026 | $14.1 billion |
| Growth Rate | Poised to grow at a CAGR of 5.3% |
| Market Size Available for | 2018–2026 |
| Forecast Period | 2021–2026 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, end user and region |
| Geographies Covered | North America (US and Canada), Europe (Germany, France, UK, and the RoE), APAC (Japan, China, India, and the RoAPAC), and Rest of the World (RoW). |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | Promising Product Pipeline |
| Key Market Drivers | Increasing prevalence of benign prostatic hyperplasia |
Based on the type, the BPH treatment market is segmented into drug treatment and surgical treatment. Drug treatment is the largest and the fastest-growing segment in this market. This can primarily be attributed to the use of medications as the first line of treatment among men with mild to moderate symptoms of BPH.
Based on the end user, the market is segmented into home healthcare and hospitals & clinics. In 2019, home healthcare accounted for the largest share of this market, as most patients are prescribed medications over surgery. Patients are also advised to continue taking medications for a few weeks post-surgery and may even require catheters for a few days. As a result, the emphasis in his market is skewed toward home healthcare over hospital care.
On the basis of region, the benign prostatic hyperplasia treatment market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. In 2019, North America commanded the largest share of the benign prostatic hyperplasia treatment market. The large share of this market segment can be attributed to the rising geriatric and obese population and the availability of research funding are the major factors driving the market growth. Initiatives by key players are also expected to contribute to the market.
Key Market Players:
The major players operating in this market are Boston Scientific Corporation (US), Coloplast Group (Denmark), Teleflex Incorporated (US), Olympus Corporation (Japan), GlaxoSmithKline PLC (UK), Eli Lilly (US), Pfizer, Inc. (US), Abbott (US), Asahi Kasei Corporation (Japan), Merck & Co., Inc. (US), Astellas Pharma Inc. (Japan), Allergan plc (Ireland), Alembic (India), IPG Photonics Corporation (US), Richard Wolf GmbH (Germany), Unilab, Inc. (Philippines), Pharex Health Corporation (Philippines), Biolitec AG (Austria), Urologix, LLC (US), Advin Health Care (India), Medifocus, Inc. (Canada), Asclepion Laser Technologies GmbH (Germany), Pnn Medical A/S (Denmark), Surgical Lasers Inc. (Canada). Quanta Systems (Italy), Allium Ltd. (Israel), Lumenis Ltd. (Israel), KARL STORZ SE & Co. KG (Germany), and SRS Medical (US).
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Hypothetic Challenges of Benign Prostatic Hyperplasia Treatment Market in Near Future:
- Finding new ways to reduce the side effects of current treatments: Currently, BPH treatment options are associated with a range of side effects, such as sexual dysfunction, incontinence and bladder problems. Developing new treatments which are less likely to cause these side effects will be a key challenge for the industry.
- Developing more effective treatments: There is a need to develop treatments which are more effective in treating the symptoms of BPH, such as reducing urinary frequency and improving the flow of urine.
- Improving patient access to treatments: In many parts of the world, BPH treatments are not readily accessible due to cost or lack of access to qualified medical personnel. Finding ways to make treatments more affordable and accessible to patients will be an important challenge for the industry.
- Improving patient compliance with treatments: Many patients fail to comply with the recommended treatment plans due to cost, inconvenience or lack of understanding. Finding ways to improve patient compliance with treatments will be important in improving outcomes.
- Improving diagnosis and treatment of BPH: The diagnosis and treatment of BPH is often complicated and relies heavily on patients’ subjective reports. Finding ways to improve the accuracy of diagnosis and treatment will be important for improving outcomes.
Top 3 Use Cases of Benign Prostatic Hyperplasia Treatment Market:
- Treatment of Lower Urinary Tract Symptoms (LUTS): Benign prostatic hyperplasia (BPH) is the most common cause of lower urinary tract symptoms (LUTS) in men. Treatment options such as medications, minimally invasive therapies, and surgery are available to help manage and improve LUTS associated with BPH.
- Treatment of Urological Complications: BPH is associated with a number of urological complications, including urinary retention, recurrent urinary tract infections, and bladder stones. Treatment options such as medications, minimally invasive therapies, and surgery can help reduce the risk of these complications.
- Prevention of Prostate Cancer: Early diagnosis and treatment of BPH can help reduce the risk of prostate cancer. Treatment options such as medications, minimally invasive therapies, and surgery can help reduce the risk of the disease in men with BPH.
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Recent Developments:
- In 2021, In January 2021, PHAREX Health Corporation in partnership with the Philippine Urological Association (PUA), launched Pharex Tamsulosin for BPH treatment.
- In 2020, UroLift launched Advanced Tissue Control (ATC) System
- In 2020, Asahi Kasei Pharma obtained Chinese approval for Flivas (naftopidil).
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