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HEALTHCARE & PHARMACEUTICAL

Benign Prostatic Hyperplasia (BPH) Prostate Treatment Market Analysis by Treatment Type {BPH Devices (Transurethral RF Thermal Therapy, Suture Base Implant, and Others), and BPH Drugs (Alpha Blocker, Muscarinic Receptor Antagonist, 5-Alpha Reductase Inhibitors)}; and by Distribution Channels (Online, Pharmacies, and Institutional Sales), – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • March 15, 2018: NxThera, Inc. to that its Rezum System is more effective and provides long-lasting comfort in benign prostatic hyperplasia (BPH).  Rezum System is also found quicker in results than other pharmaceutical agents.

  • July 1, 2022: Teleflex Incorporated announces the results of research studies regarding the efficacy and safety of UroLift Systems. The system is developed for men diagnosed with benign prostatic hyperplasia (BPH) and median lobe obstruction

Global Benign Prostatic Hyperplasia (BPH) Prostate Treatment Market Size, Forecast, and Trend Highlights Over 2022 - 2031

Benign Prostatic Hyperplasia (BPH) Prostate Treatment Market Size

The global benign prostatic hyperplasia (BPH) prostate treatment market is estimated to garner robust revenue by the end of 2031 by growing at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. Further, the market generated noteworthy revenue in the year 2021. The growth of the market is attributed to the growing rate of BPH surgical treatment. For instance, around 11,000 per 100,000 men received surgical treatment in 2018 which was an increase from approximately 9000 per 100,000 men in 2012.

Benign Prostatic Hyperplasia (BPH) Prostate Treatment Market Forecast

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Benign prostatic hyperplasia (BPH), also known as prostate gland enlargement, is a medical condition that generally occurs in men above age of 60. Benign prostatic hyperplasia (BPH) is associated with any abnormalities in testicles. It is not a type of cancer but an overgrowth of prostate tissue resulting in the blockage of urine flow. Global benign prostatic hyperplasia (BPH) prostate treatment market trends such as, the higher prevalence of benign prostatic hyperplasia (BPH) and rising awareness of the disease is estimated to hike the growth of the market over the forecast period. For instance, benign prostatic hyperplasia becomes more prevalent in men after the age of 40 with a prevalence rate of approximately 10% to 65%.  

Global Benign Prostatic Hyperplasia (BPH) Prostate Treatment Market: Growth Drivers and Challenges

Growth Drivers

  •  Higher Prevalence of Benign Prostatic Hyperplasia (BPH) - Based on the report published by the National Institute of Diabetes and Digestive and Kidney Diseases, it is demonstrated that around 50% of men aged between 51 to 60 live with benign prostatic hyperplasia.
  • Rising Geriatric Population - Figures demonstrated by the World Bank, it is estimated that the geriatric population reached 747,238,580 in 2021.The chances of the occurrence of
  • Developing Medical Technology Across the Globe - As of 2022, The growth of global medical technology was estimated to increase by approximately 4% per year.
  • Spiking Cases of Urinary Tract Infection - For instance, in the United States, approximately 0.9 million cases of UTIs are diagnosed every year.
  • Increasing Healthcare Expenditure per Capita - In 2019, the healthcare expenditure across the globe was estimated to be around 1000 U.S. dollars per capita.

Challenges

  • Government Initiatives Regarding the Sales and Consumption of Medicines
  • Possibility of Side-Effect of BPH Drugs
  • Lack of Awareness of the Disease in Developing Countries

The global benign prostatic hyperplasia (BPH) prostate treatment market is segmented and analyzed for demand and supply by distribution channel into online, pharmacies, and institutional sales, out of which, the pharmacies segment is projected to acquire the largest share in the market over the forecast period. The growth of the segment is attributed to the rising sales of medicines from pharmacies. For instance, the sales of pharmacies and drug store were projected to be around USD 300 billion in the USA in 2020.

Major Macro-Economic Indicators Impacting the Market Growth

Benign Prostatic Hyperplasia (BPH) Prostate Treatment Market Growth

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Benign Prostatic Hyperplasia (BPH) Prostate Treatment Market Regional Synopsis

Regionally, the global benign prostatic hyperplasia (BPH) prostate treatment market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2031. The growth of the market in the region can be accounted to the rising geriatric population and higher prevalence of benign prostatic hyperplasia. As per the data released by the World Bank, it was represented that in 2021, the geriatric population in the USA reached 56,545,938. Furthermore, the presence of major key players and the growing healthcare infrastructure of the region is further projected to influence the growth of the market positively over the forecast period.

Benign Prostatic Hyperplasia (BPH) Prostate Treatment Market Regional Synopsis

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The global benign prostatic hyperplasia (BPH) prostate treatment market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global benign prostatic hyperplasia (BPH) prostate treatment market includes the following segments:

 

By Treatment Type

  • BPH Devices
  • Transurethral RF Thermal Therapy
  • Suture Base Implant
  • Others
  • BPH Drugs
  • Alpha Blocker
  • Muscarinic Receptor Antagonist
  • 5-Alpha Reductase Inhibitors

 

By Distribution Channels

  • Online Pharmacies
  • Retail
  • Institutional Sales

 

Top Featured Companies Dominating the Global Benign Prostatic Hyperplasia (BPH) Prostate Treatment Market

  • Pfizer Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Cardinal Health Inc.
  • NxThera, Inc.
  • NeoTract, Inc.
  • Teleflex Incorporated
  • Eli Lily & Company
  • Sanofi S.A.
  • GSK plc
  • Mylan N.V.
  • AbbVie Inc.

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