The global benign prostatic hyperplasia (BPH) prostate treatment market is set for consistent growth, with its valuation expected to reach USD 33.03 billion in 2024. The market is projected to expand at a compound annual growth rate (CAGR) of 3.6% over the forecast period of 2024 to 2034, achieving an estimated valuation of USD 47.05 billion by 2034.
Benign prostatic hyperplasia, a common condition among aging male populations, is driving demand for effective treatment solutions ranging from medications to minimally invasive procedures and surgical interventions.
Market Growth Factors:
- Rising prevalence of BPH due to aging demographics globally.
- Increased adoption of advanced treatment options, such as laser therapies and minimally invasive surgeries.
- Growing awareness of the condition and the availability of effective treatment modalities.
The market’s steady growth highlights the ongoing efforts by healthcare providers and manufacturers to address the unmet needs in managing BPH, improving patient outcomes, and enhancing quality of life.
- Market Dynamics:
- Treatment Preferences: Drugs are anticipated to dominate the treatment segment, accounting for about 65.2% of the market share in 2024.
- Distribution Channels: Institutional sales are expected to represent approximately 64.7% of the market share for distribution channels.
- Growth Drivers:
- The increasing geriatric population is a significant factor contributing to market growth, as BPH is more prevalent among older men.
- Advances in treatment options, including both pharmacological and minimally invasive procedures, are enhancing patient outcomes and driving demand.
Competitive Landscape in the Benign Prostatic Hyperplasia (BPH) Prostate Treatment Market
The benign prostatic hyperplasia (BPH) prostate treatment market is competitive, though a few companies are prominent in the market. One of the well-established companies in the market is Pfizer Inc., who are concentrated on expansion through its alpha-blockers range.
Other players in the market are implementing strategies such as acquisitions and mergers to get a competitive edge. Research and development are also given importance by these market players.
Recent Developments in the Benign Prostatic Hyperplasia (BPH) Prostate Treatment Market
- In May 2023, the English football club Sutton United was sponsored by Ideal Medical Solutions Ltd. The sponsorship aimed to raise awareness of the Elesta Echo-Laser treatment device for BPH.
- In February 2023, it was announced that the New Hall Hospital in Bodenham, England will receive equipment for the new ablation treatment procedure of BPH. The treatment uses imaging, robotics, and a heat-free water jet.
- In June 2022, the first BPH treatment with the iTind device was done in Canada by Olympus.
A Full Report Overview
Key Companies in the Benign Prostatic Hyperplasia (BPH) Prostate Treatment Market
- Pfizer Inc.
- NxThera Inc.
- NeoTract Inc.
- Sanofi S.A
- GlaxoSmithKline Plc.
- Allergan Plc.
- Teva Pharmaceutical Industries Ltd.
- Mylan N.V.
- Eli Lily & Company
- Cardinal Health Inc.
Key Segments
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
By Distribution Channel:
- Institutional Sales
- Hospitals
- Ambulatory Surgical Centres
- Specialty Clinics
- Retail Sales
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
