Benign Prostatic Hyperplasia Treatment Market Forecast to Reach US$ 12 Bn by 2027 Spurred by the Rising Incidence of Benign Prostatic Hyperplasia: Fact MR
170 Pages Market Research Survey by Fact MR, A Market Research and Competitive Intelligence Provider, Highlights Key Factors Enabling Benign Prostatic Hyperplasia Market Growth
The benign prostatic hyperplasia market survey offers insights into chief growth drivers and restrains impacting the overall growth trajectory. The survey also provides insights into competitive landscape of global benign prostatic hyperplasia market, identifying the key market players and analyzing the impact of their growth strategies
Fact.MR: As per a study by Fact.MR, the sales of benign prostatic hyperplasia treatment are expected to reach a valuation of US$ 12 billion through 2027, growing at a CARG of 5.5% over the forecast period 2021 to 2031.
The benign prostatic hyperplasia treatment demand outlook remains positive owing to the rising prevalence of benign prostatic hyperplasia (BPH) and other urological disorders worldwide. According to a Canadian Journal of Urology’s report, nearly 50% of men are estimated to suffer from BPH by the age of 50 years.
Increasing incidence of urological disorders coupled with rising aged population are the factors creating demand for treatments such as transurethral resection of the prostate and alpha-blockers to curb the rising incidence of the diseases, augmenting the sales of BPH treatments.
According to a study by Fact.MR, sales of transurethral resection of the prostate for BPH treatment are likely to account for a market share of over 30% by 2027. High success rate and better results of minimally-invasive surgeries for the treatment of BPH are spurring the sales of transurethral resection of prostate surgery across the globe.
This shift in preference over the standard drug-based treatment is expected to drive the growth of the market over the forecast period. Against this backdrop, the study forecasts the demand for robotic surgeries for benign prostatic hyperplasia treatment to rise at a considerable pace over the forecast period.
“A significant change in preference towards minimally invasive surgical treatment is encouraging market players to enhance product efficacy by increasing surgical precision and exploring advance medical technologies to cater to increasing demand for BPH treatments,” says the Fact.MR analyst.
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- Owing to the availability of research funding, the U.S. is estimated to account for nearly 25% of the market share for the global BPH treatment market.
- Japan is likely to emerge as a lucrative market on the back of high prevalence of BPH among men over 50 years in the country.
- The sales of BPH treatment in India are expected to surge at the highest rate due to the relatively low costs of BPH treatments.
- The Asia Pacific market is projecting a steady growth supported by favorable medical tourism and is anticipated to expand at a CAGR of 7.3% over the forecast period.
- Based on end user, hospitals are expected to lead the segment, accounting for a revenue contribution of over 40% through 2027.
- Increasing prevalence of benign prostatic hyperplasia is fostering the growth of the market.
- Growing shift towards minimally-invasive surgeries will spur the demand for benign prostatic hyperplasia treatment.
- Rising medical tourism is expected to drive the sales of benign prostatic hyperplasia treatment in Asia Pacific.
- Low cost of treatment in emerging economies such as India and China will boost the expansion of the market.
- High cost of installation for benign prostatic hyperplasia treatment is hampering the expansion of the market.
- Adverse effects associated with drug-based treatments are hindering the demand for Alpha Blockers and 5-Alpha-reductase Inhibitors.
- Lack of skilled professionals for the treatment is negatively affecting benign prostatic hyperplasia treatment sales.
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Prominent market players operating in the benign prostatic hyperplasia treatment industry are focusing on receiving regulatory approvals for launching their new products and establishing strategic collaboration and acquisition to strengthen their presence and increase their market share. For instance,
- Fresenius Medical Care AG & Co. KGaA, a Germany based company, established new distribution center in May 2019, to improve the delivery of products needed for in-center hemodialysis treatment in Knoxville, Tennessee.
- In February 2019, Fresenius Medical Care AG & Co. KGaA accounted acquisition of a U.S. based company named, NxStage Medical, Inc.to expand its product portfolio in renal and critical care area.
Key players operating in the benign prostatic hyperplasia treatment market profiled by Fact.MR includes
- Boston Scientific Corporation
- Coloplast Group
- Teleflex Incorporated
- Olympus Corporation
- GlaxoSmithKline PLC
- Eli Lilly
- Pfizer, Inc.
- Asahi Kasei Corporation
- Merck & Co., Inc.
- Astellas Pharma Inc.
- Allergan plc
- IPG Photonics Corporation
- Richard Wolf GmbH
- Unilab, Inc.
- Pharex Health Corporation
- Biolitec AG
- Urologix, LLC
- Advin Health Care
- Medifocus, Inc.
- Asclepion Laser Technologies GmbH
More Insights on the Benign Prostatic Hyperplasia Treatment Market:
Fact MR provides an unbiased analysis of the benign prostatic hyperplasia treatment market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global bioelectric medicine market with a detailed segmentation on the basis of:
- Drug Classes
- Alpha Blockers
- 5-Alpha-reductase Inhibitors (5-ARIs)
- Phosphodiesterase-5 Enzyme Inhibitors
- Minimally-invasive Surgeries
- Transurethral Resection of the Prostate (TURP)
- Transurethral Incision of the Prostate (TUIP)
- Robotic Surgeries
- Transurethral Microwave Thermotherapy (TUMT)
- Prostatic Urethral Lift
- Laser Therapy
- Ambulatory Surgical Centres
- Specialty Clinics
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Key Questions Covered in the Benign Prostatic Hyperplasia Treatment Market Report
- The report offers detailed insights into benign prostatic hyperplasia treatment demand outlook for 2021-2031
- The market study also highlights projected sales growth for benign prostatic hyperplasia treatment market between 2021 and 2031
- Benign prostatic hyperplasia treatment market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends, evaluation of current market size, and technological advancements within the industry
- Benign prostatic hyperplasia treatment market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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Minimally Invasive Surgery Market- The global minimally invasive surgery is growing. Supplier sales are predicted to be fueled by advancements in clinics, hospitals, and medical technology, as well as an increase in preference for less invasive surgical techniques such as robotic surgery, laparoscopic surgery, and others. The demand for bariatric and cosmetic minimally invasive surgery is also increasing in different parts of the world. The United States, Germany, France, India, Japan, and a few other nations, according to the report, will continue to be attractive markets for minimally invasive surgeries and MIS techniques.
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