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 News

In May 2023, Urovant Sciences Ltd. announced that the FDA has approved its new drug, Viberect, for the treatment of BPH. Viberect is a minimally invasive procedure that uses a balloon to reposition the prostate gland and improve urine flow.

In April 2023, AbbVie Inc. announced that it had acquired Allergan plc for $63 billion. This acquisition will give AbbVie a strong portfolio of BPH treatments, including Flomax and Harnal.

In March 2023, Johnson & Johnson announced that it had completed the acquisition of Momenta Pharmaceuticals for $6.5 billion. This acquisition will give Johnson & Johnson a new BPH treatment, Mirabegron, which is currently under review by the FDA.

In February 2023, Pfizer Inc. announced that it has entered into a partnership with Veru Inc. to develop and commercialise a new BPH treatment, VYXEOS. VYXEOS is a combination therapy that uses an alpha-blocker and a 5-alpha reductase inhibitor.

In January 2023, Sanofi announced that it had submitted a new drug application to the FDA for its BPH treatment, Enzalutamide. Enzalutamide is a 5-alpha reductase inhibitor that is currently approved for the treatment of prostate cancer.

Benign Prostatic Hyperplasia Treatment Market Report Snapshots

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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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