Benign Prostatic Hyperplasia (BPH) Prostate Treatment Market to Expand at CAGR of ~6% Assessment for the Driving Factors, Size, Revenue, Segments, Expansion, Demand, and Opportunities During 2023-2033
Global Benign Prostatic Hyperplasia (BPH) Prostate Treatment Market Key Insights
During the forecast period of 2023-2033, the global benign prostatic hyperplasia (BPH) prostate treatment market is expected to reach an estimated value of ~USD 13.0 billion by 2033 by expanding at a CAGR of ~6%. The market further generated revenue of ~USD 7.0 billion in the year 2022. Major key factors propelling the growth of the global benign prostatic hyperplasia (BPH) prostate treatment market worldwide are higher demand for the treatment for BPH surgical treatment owing to the severity of the disease. As of 2018, about 11,000 out of 100,000 individuals received surgical treatment for benign prostatic hyperplasia.
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Market Definition of Global Benign Prostatic Hyperplasia (BPH) Prostate Treatment Market
Benign prostatic hyperplasia is a condition in which the size of the prostate gland in males as they grow old. Benign prostatic hyperplasia is a medical condition that blocks the flow of urine, and semen on account of the large size of prostate glands. Hence, it can be very discomforting for the person suffering from it and people are much hesitant to talk about this disease. This disease can effect the physical and mental health of the person negatively. Therefore, the higher demand for treatment is expected to flourish the market growth over the forecast period.
Global Benign Prostatic Hyperplasia (BPH) Prostate Treatment: Growth Drivers
The growth of the global benign prostatic hyperplasia (BPH) prostate treatment market can majorly be attributed to skyrocketing research and development process to find new systems and drugs to cure the disease. For instance, a system, Rezum System, launched by NxThera, Inc, is observed to be more effective and quicker in results compared to other pharmaceutical agents for benign prostatic hyperplasia. On the other hand, the market growth can also be attributed to the growing number of major key players developing methods to provide treatment for the patient. For instance, Teleflex Incorporated published the positive results of the research program of the UroLift. It is a system developed for men living with median lobe obstruction and benign prostatic hyperplasia (BPH).
The global benign prostatic hyperplasia (BPH) prostate treatment market is also estimated to grow majorly on account of the following:
- Escalation in the healthcare expenditure per capita
- Rising prevalence of urinary tract infection
- Growing geriatric population across the globe
- Significant development in the medical technology
- Spiking cases of benign prostatic hyperplasia (BPH)
Global Benign Prostatic Hyperplasia (BPH) Prostate Treatment Market: Restraining Factor
There can be significant side effects of the BPS drugs such as, dizziness, prostate treatment, dry mouth, pruritus, nasopharyngitis, constipation, micturition difficulties, and others. Hence, this factor is expected to be the major hindrance to the growth of the global benign prostatic hyperplasia (BPH) prostate treatment market during the forecast period.
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Global Benign Prostatic Hyperplasia (BPH) Prostate Treatment Market Segmentation
- By Treatment Type (Drug Treatment, and Surgical Treatment)
The drug treatment, amongst all the other segments, is anticipated to garner the largest revenue by the end of 2033. The growth of the segment can be attributed to the growing consumption of drugs to ease the discomfort caused by the disease. It is estimated that approximately 70% of the adults in the USA consume prescribed drugs while around 20,000 prescription drugs got approved in the same region.
- By Therapeutic Class
- By Distribution Channels (Online, Pharmacies, and Institutional Sales)
- By Region
The North America benign prostatic hyperplasia (BPH) prostate treatment market is anticipated to hold the largest market share by the end of 2033 among the market in all the other regions. Escalating geriatric population and growing cases of benign prostatic hyperplasia along with health care expenditure are major factors anticipated to drive the growth of the market in North America during the forecast period. World Bank stated that in 2021, the geriatric population in the United States reached 56,545,938.
The market research report on global benign prostatic hyperplasia (BPH) prostate treatment also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), 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), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
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Key Market Players Featured in the Global Benign Prostatic Hyperplasia (BPH) Prostate Treatment Market
Some of the key players of the global benign prostatic hyperplasia (BPH) prostate treatment market are Pfizer Inc., Cardinal Health Inc., NxThera, Inc., NeoTract, Inc., Teleflex Incorporated, Eli Lily & Company, Sanofi S.A., GSK plc, Mylan N.V., AbbVie Inc., and others.
Published Mon, 14 Nov 2022 06:44:28 -0600
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