Latest Study on “Benign Prostatic Hyperplasia Treatment Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2027”.
The global Benign Prostatic Hyperplasia Treatment market size is expected to be worth around US$ 16.2 Billion by 2027, according to a new report by nova one advisor.
The global Benign Prostatic Hyperplasia Treatment market size was valued at US$ 9.8 Billion in 2020 and is anticipated to grow at a CAGR of 6.0% during forecast period 2021 to 2027.
Overview of Benign Prostatic Hyperplasia Treatment Market Study
Benign Prostatic Hyperplasia Treatment market study conducted by Nova One Advisor is intended at helping stakeholders get a comprehensive overview of potential challenges and undiscovered opportunities. The report offers exclusive insights to help companies and their customers to make informed decision to sustain growth through the assessment period.
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The presence of a large geriatric and target patient population and the improving healthcare infrastructure in several APAC countries are expected to offer growth opportunities in the benign prostatic hyperplasia treatment market during the forecast period.
DRIVER:Increasing prevalence of benign prostatic hyperplasia
BPH refers to the nonmalignant growth of prostate tissue and is a frequent cause of lower urinary tract symptoms among men. BPH is considered a normal part of male aging and is hormonally dependent on testosterone and dihydrotestosterone (DHT) production. Approximately 50% of men demonstrate histopathologic BPH by 60 years and 90% by 85 years.
Approximately 30 million men worldwide and 14 million men in the US are said to have BPH symptoms. (Source: WebMD LLC.).
Data from the Health Insurance Review and Assessment (HIRA) agency in 2018 revealed that nearly 7,600,000 patients were diagnosed with BPH in 2010, which increased by ~1.2 million in 2017. This represents an annual increase of about 7% and a total increase of 58% from 2010.
The growth of the aging population, especially the geriatric male segment, can be held as a prominent driver of BPH incidence, as BPH is a representative disease that appears in males during the aging process. As a result, the growth of this population segment will ensure demand for appropriate therapeutics in major markets. For example, China is believed to have the largest geriatric population; the population aged 65 years and above is estimated to account for 26.8% of its total population by 2050 from 10.1% in 2015 (Source: US Census Bureau). By 2050, the WHO estimates that there could be ~100 million people in China aged 80 years and above. In the UK, NHS data estimates that there were five million men in the country in 2019; this is expected to rise to 7 million in 2030 and nearly 9 million by the end of 2050.
RESTRAINTS:Side-effects associated with BPH medications
While drugs and surgery can treat BPH, both methods are associated with significant side-effects. Medicines commonly used to treat BPH include alpha-blockers, 5-ARIs (5-alpha reductase inhibitors), and other drug classes. Common side effects of alpha-blockers include dizziness, orthostatic hypotension, retrograde ejaculation, and rhinitis. Dizziness and orthostatic hypotension are of increased concern among the elderly as they can cause significant morbidities such as falls and subsequent injuries.
Finasteride and Dutasteride (among other 5-ARIs) convert testosterone to dihydrotestosterone. These drugs also reduce the synthesis of several neuroactive steroids, but the modulation of the neuroendocrine stress response may lead to depression. Other side effects of 5-ARIs are gynecomastia, impotence, and decreased libido, and ejaculate volume.
OPPORTUNITY: Promising Product Pipeline
The BPH treatment market offers considerable growth opportunities to manufacturers of generics. The patents of most medications for BPH treatment such as Avodart, Cialis, and Jalyn have expired, which has paved the way for generics. Besides, demand has also risen for more effective treatment options, resulting in a strong pipeline of products in the BPH market.
Studies reveal that price of a generic version of an alpha blocker is as low as USD 8 or less for a month’s supply, compared to nearly USD 100 per month for a branded product. While the lower price may affect overall revenue generated in the short term, it also translates into a far higher level of access that may lead to increased sales volumes overall.
Drug treatment is expected to hold the largest share of the benign prostatic hyperplasia treatment market, by type in 2021.
Based on the type, the BPH treatment market is segmented into drug treatment and surgical treatment. Drug treatment is the largest and the fastest-growing segment in this market. This can primarily be attributed to the use of medications as the first line of treatment among men with mild to moderate symptoms of BPH.
Home healthcare is expected to hold the largest share of the benign prostatic hyperplasia treatment market, in 2021.
Based on the end user, the market is segmented into home healthcare and hospitals & clinics. In 2019, home healthcare accounted for the largest share of this market, as most patients are prescribed medications over surgery. Patients are also advised to continue taking medications for a few weeks post-surgery and may even require catheters for a few days. As a result, the emphasis in his market is skewed toward home healthcare over hospital care.
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COVID-19 Impact on Benign Prostatic Hyperplasia Treatment Sales
Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Benign Prostatic Hyperplasia Treatment market.
Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.
Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.
Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Benign Prostatic Hyperplasia Treatment market 2021 onwards. This trend will however continue through the course of the report’s assessment period
This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the Benign Prostatic Hyperplasia Treatment market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.
Some of the prominent players in the Benign Prostatic Hyperplasia Treatment market include:
Boston Scientific Corporation (US), Coloplast Group (Denmark), Teleflex Incorporated (US), Olympus Corporation (Japan), GlaxoSmithKline PLC (UK), Eli Lilly (US), Pfizer, Inc. (US), Abbott (US), Asahi Kasei Corporation (Japan), Merck & Co., Inc. (US), Astellas Pharma Inc. (Japan), Allergan plc (Ireland), Alembic (India), IPG Photonics Corporation (US), Richard Wolf GmbH (Germany), Unilab, Inc. (Philippines), Pharex Health Corporation (Philippines), Biolitec AG (Austria), Urologix, LLC (US), Advin Health Care (India), Medifocus, Inc. (Canada), Asclepion Laser Technologies GmbH (Germany), Pnn Medical A/S (Denmark), Surgical Lasers Inc. (Canada). Quanta Systems (Italy), Allium Ltd. (Israel), Lumenis Ltd. (Israel), KARL STORZ SE & Co. KG (Germany), and SRS Medical (US).
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
Benign Prostatic Hyperplasia Treatment Market by Type
- Alpha Blockers
- Other Alpha Blockers
- 5-Aplha Reductase Inhibitors
- Other Drug Classes
- Transurethral Resection of the Prostate (TURP)
- Transurethral Microwave Thermotherapy (TUMT)
- Transurethral Needle Ablation of the Prostate (TUNA)
- Laser Therapy
- Prostatic Stenting
- UroLift Therapy
- Rezûm Therapy
- Other Surgeries
Browse Complete Table of Content@ https://www.novaoneadvisor.com/toc/benign-prostatic-hyperplasia-treatment-market
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The purpose of Nova one advisor’s Benign Prostatic Hyperplasia Treatment market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.
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