What is the global market size of Benign Prostatic Hyperplasia Treatment Market?

Global Benign Prostatic Hyperplasia Treatment Market size was valued at USD 11.8 billion in 2021 and is poised to grow from USD 12.41 billion in 2022 to USD 18.62 billion by 2030, growing at a CAGR of 5.2% in the forecast period (2023-2030).

Benign Prostatic Hyperplasia Treatment Market Size, Share, Growth Analysis, By Type(Medications, Minimally Invasive Procedures, and Surgical Procedures.), By Application(Lower Urinary Tract Symptoms Management, Acute Urinary Retention Treatment, Prostate Size Reduction, and Prevention of Disease Progression.), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35E2045 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 64 | Figures: 75

Benign Prostatic Hyperplasia Treatment Market Dynamics

Drivers

Growing Awareness and Screening Initiatives

There is a growing awareness about benign prostatic hyperplasia (BPH) and its associated symptoms, leading to early detection and diagnosis. Governments, healthcare organisations, and advocacy groups are actively involved in promoting BPH awareness campaigns and screening initiatives. This emphasis on early intervention and timely treatment significantly contributes to the positive growth of the BPH treatment market.

Restraints

Availability of Generic Medications

The expiration of patents and the availability of generic medications for BPH treatment options, such as alpha-blockers and 5-alpha reductase inhibitors, have introduced pricing pressures and affected market revenues for branded products. The availability of generic alternatives provides cost-effective options for patients and influences market dynamics in terms of affordability and competition.

Benign Prostatic Hyperplasia Treatment Market Report Snapshots

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FAQs

Benign Prostatic Hyperplasia Treatment Market size was valued at USD 11.2 billion in 2022 and is poised to grow from USD 11.8 billion in 2023 to USD 18.1 billion by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).

The global BPH treatment market is highly competitive, driven by the need for effective and patient-friendly therapeutic options. Companies invest in research and development, product innovation, and strategic collaborations to gain a competitive advantage and meet the evolving needs of healthcare providers and patients. 'Astellas Pharma Inc. (Japan)', 'AstraZeneca plc (UK)', 'Eli Lilly and Company (US)', 'GlaxoSmithKline plc (UK)', 'Johnson & Johnson (US)', 'Medtronic plc (Ireland)', 'Merck & Co., Inc. (US)', 'Novartis International AG (Switzerland)', 'Pfizer Inc. (US)', 'Roche Holding AG (Switzerland)', 'Sanofi (France)', 'AbbVie Inc. (US)', 'Bayer AG (Germany)', 'Boston Scientific Corporation (US)', 'Coloplast A/S (Denmark)', 'Olympus Corporation (Japan)', 'Urovant Sciences Ltd. (UK)', 'Teleflex Incorporated (US)', 'NeoTract, Inc. (US)', 'Terumo Corporation (Japan)'

There is a growing awareness about benign prostatic hyperplasia (BPH) and its associated symptoms, leading to early detection and diagnosis. Governments, healthcare organisations, and advocacy groups are actively involved in promoting BPH awareness campaigns and screening initiatives. This emphasis on early intervention and timely treatment significantly contributes to the positive growth of the BPH treatment market.

Shift towards Minimally Invasive Procedures: Minimally invasive techniques have gained significant traction in the treatment of BPH due to their advantages over traditional surgical interventions. These procedures, such as transurethral resection of the prostate (TURP), laser ablation, and prostatic urethral lift (PUL), offer reduced invasiveness, shorter hospital stays, faster recovery times, and minimal postoperative complications compared to open surgeries. The trend towards minimally invasive BPH treatments is driven by the increasing focus on patient-centred care, improving quality of life, and reducing healthcare costs.

North America holds a significant share in the BPH treatment market due to several factors. The region has a well-developed healthcare infrastructure, advanced medical technologies, and a high prevalence of BPH among the aging population. Additionally, increased awareness about the condition and the availability of innovative treatment options contribute to the dominance of North America in the market. The presence of key market players, extensive research and development activities, and favourable reimbursement policies further support the growth of the BPH treatment market in this region.

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Benign Prostatic Hyperplasia Treatment Market Dynamics

Benign Prostatic Hyperplasia Treatment Market Report Snapshots

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What is the global market size of Benign Prostatic Hyperplasia Treatment Market?

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