The Benign Prostatic Hyperplasia Prostate Treatment Market is poised for a period of stable expansion, driven by key demographic and technological trends. According to a recent market analysis, the market is currently valued at US$33.03 billion in 2024. Looking ahead, the market is expected to exhibit a steady Compound Annual Growth Rate (CAGR) of 3.6%, reaching a projected valuation of US$47.05 billion by 2034.
One of the key drivers of this remarkable growth is the increasing preference for minimally invasive surgical procedures. Patients and healthcare professionals alike are recognizing the benefits of these approaches, leading to a surge in demand for benign prostatic hyperplasia (BPH) prostate treatment options.
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The increasing cases of benign prostatic hyperplasia (BPH) along with a surge in preference for minimally invasive surgeries are primary growth drivers of the target market. Furthermore, the growing popularity of Ayurveda, especially in South Asian countries, will generate more growth-inducing opportunities for the BPH treatment market. Due to all of these considerations, the target market observed a surge in growth rate as it rose to a CAGR of 3.7% from 2013 to 2021.
Heightened emphasis on healthcare, a growing geriatric population, degenerating lifestyle, poor dietary habits, hereditary inheritance of the disease, advancing research and development, and better availability of treatment procedures are some of the prominent factors that positively influence the BPH treatment market growth during the forecast period.
“Rising adoption of minimally invasive procedures coupled with rising incidences of benign prostatic hyperplasia will augment the global growth of the benign prostatic hyperplasia (BPH) prostate treatment market over the forecast period,” says an FMI analyst.
Benign Prostatic Hyperplasia Prostate Treatment Market Key Takeaways:
- The BPH treatment market is expected to witness consistent growth due to a rising aging population and increasing prevalence of BPH.
- Growing awareness of BPH and minimally invasive treatment options are expected to drive market expansion.
- Technological advancements in BPH treatment procedures, including minimally invasive surgeries and laser therapies, are a key driver of market growth.
- Increasing healthcare expenditure in developed and developing countries is expected to further fuel market expansion.
Benign Prostatic Hyperplasia Prostate Treatment Market Competitive Landscape
Pfizer Inc., NxThera Inc., NeoTract Inc., Sanofi S.A, GlaxoSmithKline Plc., Allergan Plc., Teva Pharmaceutical Industries Ltd., Mylan N.V., Eli Lily & Company, and Cardinal Health Inc., among others, are some of the major players in the benign prostatic hyperplasia (BPH) prostate treatment market profiled in the full version of the report.
Leading market players are focusing on increasing investment in research and development activities. These participants are keen on offering new treatment options to patients.
More Insights into Benign Prostatic Hyperplasia Prostate Treatment Market Report
In its latest report, FMI offers an unbiased analysis of the Global Benign Prostatic Hyperplasia (BPH) Prostate Treatment Industry, providing historical data from 2013 to 2021 and forecast statistics for 2022 to 2028. To understand the global market potential, growth, and scope, the market is segmented based on treatment type (BPH drugs (alpha-blockers, 5-alpha reductase inhibitors, phosphodiesterase-5 (PDE-5) inhibitors, muscarinic receptor antagonist (MRA), combination drug), BPH devices (prostatic stents, suture base implant systems, transurethral RF thermal therapy devices)), distribution channel (institutional sales (hospitals, ambulatory surgical clinics, specialty clinics), retail sales (retail pharmacies, drug stores), online pharmacies), and region.
According to the latest FMI reports, based on segmentation, the institutional sales segment leads the market. This segment accounts for 64.7% of the overall market share owing to the rising demand for minimally invasive surgeries. The retail sales segment accounts for 26.7% while the online pharmacies segment holds 8% of the Global Benign Prostatic Hyperplasia (BPH) Prostate Treatment Industry share.
Based on region, the benign prostatic hyperplasia (BPH) prostate treatment market in the United States will exhibit impressive growth during 2022-2028. The rising geriatric population coupled with increasing cases of BPH propel the target market growth in this country. Growth in research and development activities will further aid the target market growth during the projected period. Besides, India’s benign prostatic hyperplasia (BPH) prostate treatment market, too, will present notable growth. This is due to the popularity of Ayurveda as well as a surge in BPH cases. Thus, these two countries will demonstrate significant growth in the benign prostatic hyperplasia (BPH) prostate treatment market during the forecast period.
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Key Segments of Benign Prostatic Hyperplasia Prostate Treatment Market Survey
BPH Prostate Treatment Market by Treatment Type:
- BPH Drugs
- Alpha Blockers
- 5-Alpha Reductase Inhibitors
- Phosphodiesterase-5 (PDE-5) Inhibitors
- Muscarinic Receptor Antagonist (MRA)
- Combination Drug
- BPH Devices
- Prostatic Stents
- Suture Base Implant Systems
- Transurethral RF Thermal Therapy Devices
BPH Prostate Treatment Market by Distribution Channel:
- Institutional Sales
- Hospitals
- Ambulatory Surgical Centres
- Specialty Clinics
- Retail Sales
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
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