PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1290832
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1290832
Benign Prostatic Hyperplasia Treatment Market size was valued at USD 11,005.4 million in 2022, expanding at a CAGR of 5.9% from 2023 to 2030.
Benign prostatic hyperplasia, a noncancerous enlargement of the prostate gland, is the most common benign tumor found in men. Many treatments are available for enlarged prostate. These include medicines, surgery, and procedures that involve smaller, fewer, or no cuts. Furthermore, New BPH treatments are less invasive and damaging to healthy tissue than surgery. In general, most of these treatments are outpatient procedures, which means consumers can go home the same day as the procedure. They're also cheaper, have fewer side effects and allow for a faster recovery.
The global population urging the burden of age-associated diseases, such as benign prostatic hyperplasia, has become a global health priority. Benign prostatic hyperplasia is a common urological disease among older men. The age-specific prevalence of benign prostatic hyperplasia has been estimated from autopsy evaluations to be 8% in the fourth decade of life, 50% in the sixth decade of life, and 80% in the ninth decade of life. The burden of benign prostatic hyperplasia is rising throughout the world, primarily due to population growth and aging. Overall, the growth of the benign prostatic hyperplasia therapeutics market is majorly driven due to the rise in the prevalence of benign prostatic hyperplasia as well as the rise in urological illnesses linked with benign prostatic hyperplasia.
The Global Benign Prostatic Hyperplasia Treatment Market is segmented on the basis of Product Type, Application, Technology, and Region.
The market is divided into three categories based on product type: Drug treatment, Minimally Invasive Surgeries, laser therapy, and others. Drug treatment dominates the market due to providing symptom relief and facilitating prevent the progression of BPH.
The market is divided into four categories based on application: Hospitals, Ambulatory Surgical Centers, Specialty Clinics, home healthcare, and Others. Home healthcare dominates the market and is likely to maintain its dominance during the forecast period. Patients should also continue taking their prescriptions for a few weeks after surgery. As a result, in his market, the emphasis is biased toward home healthcare rather than hospital care.
Benign Prostatic Hyperplasia Treatment Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the growth of the Benign Prostatic Hyperplasia Treatment market, due to the increasing geriatric population, and rising awareness among the general public about the available treatment options. According to American Community Survey (ACS) Data Users Group, the number of Americans ages 65 and older is projected to nearly double from 52 million in 2018 to 95 million by 2060, and the 65-and-older age group's share of the total population will rise from 16 percent to 23 percent. The Benign Prostatic Hyperplasia Treatment market is influenced by different market drivers and end-user industries across different regions. Companies in the Benign Prostatic Hyperplasia Treatment market develop specialized solutions to meet the specific needs of customers in each region like Europe, Asia pacific, Latin America, the Middle East & Africa, etc.
Some of the primary techniques used by corporations to strengthen their reach and expand their market share include new product launches, distribution network development, R&D spending, and mergers and acquisitions. Each of these companies provides different treatment options and technologies, and the choice of treatment depends on factors such as the patient's condition, preferences, and the expertise of the healthcare provider. It's crucial to consult with a urologist or healthcare professional who can assess specific cases and recommend the most appropriate treatment approach. For example, Boston Scientific Corporation recently announced that it has purchased technology for treating symptomatic benign prostatic hyperplasia from Celsion Corporation, following approval of the acquisition by Celsion stockholders at the company's annual meeting on June 13.
In 2022, Olympus, a global technology leader in designing and delivering innovative medical technology solutions, announced nowadays the first commercial treatment of Benign Prostatic Hyperplasia (BPH) in Canada using the minimally invasive iTind procedure.
The scope of this report covers the market by its major segments, which include as follows: