Benign Prostatic Hyperplasia Treatment Market to Surpass US$ 47 Billion by 2032, Expanding At A 5% CAGR: Fact.MR Report
The Growing Preference for Minimally Invasive Surgeries Is Expected To Drive Demand for BPH Surgical Treatment Procedures in the Coming Decades
Rockville, Feb. 01, 2023 (GLOBE NEWSWIRE) -- According to a recent report by Fact.MR, a market research and competitive intelligence provider, the global benign prostatic hyperplasia (BPH) treatment market is estimated to be worth US$ 47.24 Billion by the end of 2032. From 2022 to 2032, demand for benign prostatic hyperplasia prostate treatment is predicted to grow at a 5% CAGR.
Some of the important factors that influence BPH treatment market growth include increased focus on healthcare, an aging population, deteriorating lifestyle, poor eating habits, hereditary inheritance of the illness, increased research and innovation, and greater availability of therapeutic approaches. Over the projected timeframe, these factors are anticipated to favor demand for BPH homeopathy remedies, BPH relief medicine, and benign prostatic hyperplasia natural remedies.
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The benign prostatic hyperplasia treatment market in Asia Pacific is broadening at a rapid pace, with a CAGR of 7.3% anticipated during the forecast timeframe, owing to rising demand from medical tourism and severe R&D efforts to ensure long-term supply. Moreover, an increase in the requirement for minimally invasive treatment, an increment in the aging populations, and advancements associated with novel and advanced BPH treatment technologies will all contribute to the growth of the benign prostatic hyperplasia treatment market in Europe.
Key Takeaways from Market Study
From 2017 to 2021, the global BPH prostate treatment market grew at a CAGR of 3.8%.
In 2021, the global benign prostatic hyperplasia treatment market revenue accounted for 24% of the global cancer treatment market.
BPH symptoms are estimated to affect approximately 30 million men worldwide and 14 million men in the United States.
During the forecast period, specialty clinics are expected to grow at a higher CAGR of more than 6.9%.
North American regional market is expected to rise 1.4X by 2032.
“The increasing prevalence of benign prostatic hyperplasia, as well as the rising global male aging population, are propelling the expansion of the benign prostatic hyperplasia treatments market. Furthermore, sympathetic stimulation nerve activity, a modified endocrine state, an elevated inflammatory reaction, and oxidative stress all perform a role in the emergence of benign prostatic hyperplasia in obese people.” says a Fact.MR analyst.
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Key players in the Benign Prostatic Hyperplasia Treatment market are Abbott Laborites, Allergan plc, Astellas Pharma, Inc., Asahi Kasei Corporation, Boehringer Ingelheim GmbH, GlaxoSmithKline plc, Pfizer, Inc., Boston Scientific Corporation, Teleflex Incorporated, Endo International plc, Urologix, LLC, LISA Laser, Olympus Corporation, Teva Pharmaceutical Industries Ltd., Merck & Co. Inc.
In January 2021, PHAREX Health Corporation introduced Pharex Tamsulosin for BPH treatment in collaboration with the Philippine Urological Association (PUA).
UroLift launched the Advanced Tissue Control (ATC) System in 2020.
Asahi Kasei Pharma received Chinese approval for Flivas in 2020. (naftopidil).
Alembic was granted FDA approval for its Abbreviated New Drug Application (ANDA) for Silodosin Capsules 4 mg and 8 mg in 2019.
Major Benign Prostatic Hyperplasia Treatment Service Providers
Astellas Pharma Inc.
Asahi Kasei Corporation
Boehringer Ingelheim GmbH
Boston Scientific Corporation
Endo International Plc.
Teva Pharmaceutical Industries Ltd.
Merck & Co. Inc.
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Key Segments Profiled in the Benign Prostatic Hyperplasia Treatment Industry Survey
5-Alpha-reductase Inhibitors (5-ARIs)
Phosphodiesterase-5 Enzyme Inhibitors
Transurethral Resection of the Prostate (TURP)
Transurethral Incision of the Prostate (TUIP)
Transurethral Microwave Thermotherapy (TUMT)
Prostatic Urethral Lift
By End User:
Ambulatory Surgical Centres
Middle East & Africa
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the chromatography syringes market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of, By Drug Classes (Alpha Blockers, 5-Alpha-reductase Inhibitors (5-ARIs), Phosphodiesterase-5 Enzyme Inhibitors), By Minimally-invasive Surgeries, By Laser Therapy, across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).
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