The global benign prostatic hyperplasia (BPH) treatment market is projected to experience steady growth, with its valuation expected to rise from USD 33,031.10 million in 2024 to USD 47,045.80 million by 2034. This reflects a compound annual growth rate (CAGR) of 3.6% over the forecast period, driven by increasing awareness and advancements in treatment options for BPH, a common condition affecting the prostate gland in aging male populations.
Rising Prevalence of BPH Driving Market Growth
The growing prevalence of benign prostatic hyperplasia, particularly among men over the age of 50, is a significant driver of market expansion. As global life expectancy increases, the demand for effective BPH treatments, including medications and minimally invasive surgical procedures, continues to rise. Improved diagnostic capabilities are also contributing to earlier detection and management, further boosting the market.
Advancements in Treatment Options
The market is benefiting from the development of innovative therapies, including next-generation drugs and advanced surgical techniques. Minimally invasive procedures such as laser therapy, transurethral resection of the prostate (TURP), and prostatic artery embolization (PAE) are gaining traction due to their efficacy and reduced recovery times. These advancements are enhancing patient outcomes and driving adoption worldwide.
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Future Outlook and Opportunities
With increasing investment in research and development, coupled with a growing focus on patient-centric care, the BPH treatment market is poised for sustained growth. Market players are expanding their offerings to include novel therapies and devices, ensuring broader access to effective solutions for managing this condition.
Key Takeaways:
- The global BPH treatment market is expected to grow from USD 33,031.10 million in 2024 to USD 47,045.80 million by 2034, at a CAGR of 3.6%.
- Increasing prevalence of BPH, especially in aging populations, is a key driver of market growth.
- Advancements in treatment options, including minimally invasive procedures, are improving patient outcomes and boosting adoption.
- Investments in innovation and patient-centric care will continue to shape the market over the forecast period.
Market Dynamics
- Drivers of Growth:
- Increasing Geriatric Population: The aging population is a significant factor contributing to the rise in BPH cases, as the condition is more prevalent in older men.
- Advancements in Treatment Options: Continuous development of new drugs and minimally invasive procedures is enhancing treatment effectiveness and patient outcomes.
- Rising Awareness: Increased awareness about BPH and its treatment options among both patients and healthcare providers is driving market growth.
- Preferred Treatment Types:
- Medications: Drugs are expected to account for 65.2% of the market share in 2024. This includes alpha-blockers and 5-alpha reductase inhibitors, which are commonly used to manage BPH symptoms.
- Minimally Invasive Procedures: These procedures are gaining popularity due to their reduced recovery times and lower complication rates compared to traditional surgical methods.
- Distribution Channels:
- Institutional Sales: Institutional sales are anticipated to account for 64.7% of the market share in 2024, reflecting the preference for treatments administered in healthcare facilities.
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.
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