The approximately US$ 25 Bn market for benign prostatic hyperplasia prostate treatment is likely to expand at 4.6% CAGR during 2018-2028, according to a recent research report of Future Market Insights (FMI). The report has envisaged steady growth prospects for the revenue of global benign prostatic hyperplasia prostate treatment market through 2028.
The World Population Prospects’ data (2017) projected that the number of individuals aged 60 years and above will double by 2050, and triple by 2100. With such a high pace estimated for the growth of population aged 60 years and above, it is more likely that the prevalence of aging related health conditions will also increase at a considerable pace in the years to come. A high prevalence rate of benign prostatic hyperplasia (BPH) in men, the demand for improved and more effective treatment options continues to increase at a high rate.
Major Key Players:
- Pfizer, Inc.,
- Valeant Pharmaceuticals Inc.,
- Novartis AG,
- Bayer AG,
- Sanofi S.A.,
- GlaxoSmithKline plc.,
- Bristol-Myers Squibb and Company,
- Teva Pharmaceutical Industries Ltd,
- Mylan N.V.,
- Merck & Co.,
- Cardinal Health Inc., and Eli Lilly and Company among others.
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Alpha-blockers & Drugs for Lower UTIs Remain Pivotal in Benign Prostatic Hyperplasia Prostate Treatment
The drug treatment has been vital in treating benign prostatic hyperplasia conditions and lower UTIs, which has been attributed to widespread availability of drug-based benign prostatic hyperplasia prostate treatment. This factor, in particular, will play an instrumental role in driving the growth of the benign prostatic hyperplasia prostate treatment market during the forecast period. Drugs will remain the first choice of treatment for benign prostatic hyperplasia.
Benign prostatic hyperplasia increases the risk of other disorders as well. The most common disorder caused due to benign prostatic hyperplasia is lower UTI (urinary tract infection) for which, Alpha-blockers constitute the first line of treatment. However, other drugs are also available in the market, which offer relief from the benign prostatic hyperplasia symptoms. Other drugs include alpha reductase inhibitors, phosphodiesterase-5 (PDE-5) inhibitors, muscarinic receptor antagonists, and combination drugs.
Demand for Benign Prostatic Hyperplasia Prostate Treatment Higher in Developed Regions, Patient Pool Expanding Steadily in Developing Markets
Owing to significantly growing prevalence of benign prostatic hyperplasia in North American men, benign prostatic hyperplasia prostate treatment market is expected to witness strong growth within the region, followed by Europe.
Extensive availability of benign prostatic hyperplasia prostate treatments, increasing clinical trials, improving R&D scenario, higher healthcare spending, and favorable government initiatives will continue to assist the growth of the benign prostatic hyperplasia prostate treatment market in developed regions.
On the other side, Asia Pacific’s benign prostatic hyperplasia prostate treatment market is foreseen to witness significant growth, owing to steadily expanding patient pool due in the region.
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UroLift System to Revolutionize the Competitive Landscape of Benign Prostatic Hyperplasia Prostate Treatment Market
Teleflex Incorporated’s NeoTract recently launched UroLift® System as a highly effective, least invasive option for benign prostatic hyperplasia prostate treatment. The UroLift® System is permanently implanted via a transurethral outpatient procedure and predominantly relieves prostate obstruction, which is one of the primary symptoms of benign prostatic hyperplasia. The company has also declared insurance coverage for UroLift® System. While the coverage is being provided by Humana, it is most likely to improve awareness about increasing availability and broadening access of minimally invasive treatment methods in urological conditions such as benign prostatic hyperplasia. This in turn will encourage adoption of UroLift® System among patients seeking effective benign prostatic hyperplasia prostate treatment.
A majority of patients with enlarged prostate continue to perceive medication and surgery as the only available treatment alternatives. However, an increasing number of physician recommendations is advocating the use of The UroLift® System as it eliminates side effects associated with other conventional options of benign prostatic hyperplasia prostate treatment.
Key Segment
Based on treatment type
- alpha-blockers
- alpha reductase inhibitors
- phosphodiesterase-5 (PDE-5) Inhibitors
- muscarinic receptor antagonist
- combination drugs
Based on distribution channel
- institutional sales
- retail sales
- online pharmacies
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About FMI:
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.