Benign Prostatic Hyperplasia Treatment Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019-2029, Segmented By Therapy ; By Therapeutic Class ; By Region

Global Benign Prostatic Hyperplasia (BPH) Treatment Market Size Set to Touch USD 7.4 Billion by 2029.

Global benign prostatic hyperplasia (BPH) treatment market is flourishing, because of increasing prevalence of BPH across the world, growing geriatric population prone to BPH, and advancements in minimally invasive treatment options.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global benign prostatic hyperplasia (BPH) treatment market size at USD 5,977.97 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global benign prostatic hyperplasia (BPH) treatment market size to grow at a steady CAGR of 3.13% reaching a value of USD 7,381.99 million by 2029. Major growth drivers for the global benign prostatic hyperplasia (BPH) treatment market include an increasing awareness among the public regarding available treatment options. Technological advancements, such as the introduction of transurethral resection of the prostate (TURP), have also played a significant role in driving market growth. TURP is an endoscopic electrosurgical procedure that involves the removal of a portion of the prostate gland to alleviate blockage caused by abnormal growth. The expanding individual healthcare expenditure capacities and notable improvements in healthcare infrastructure, particularly in developing countries, are expected to further propel the market's expansion. The growing prevalence of benign prostatic hyperplasia and the associated urological conditions are significant drivers of market growth. Factors such as elevated inflammatory response, sympathetic nerve activity, and oxidative stress contribute to the development of BPH, particularly in obese patients. Hormonal changes in the body are also linked to prostate enlargement and the development of BPH, thereby expanding the market for BPH medications. Also, untapped emerging economies present significant opportunities for market development due to improved healthcare infrastructure, a growing demand for unmet healthcare needs, and increased efforts in research and development (R&D). Hence, such aspects are expected to boost the expansion of global BPH market during the period in analysis. However, high costs associated with BPH treatment procedures and adverse effects and complications associated with certain treatment options are anticipated to restrain the growth of overall market during the forecast period.

Global Benign Prostatic Hyperplasia (BPH) Treatment Market - Overview:

Benign prostatic hyperplasia (BPH), commonly referred to as the enlargement of the prostate gland, tends to become more prevalent in aging men. An enlarged prostate gland can lead to urinary symptoms, such as urinary retention, and may also affect the bladder, urethra, or kidneys. Treatment options for BPH encompass a range of approaches, including prescription medications, active surveillance, monotherapy and combination therapy, phytotherapy, as well as minimally invasive and invasive surgeries. These procedures often involve the utilization of resectoscopes, urology lasers, radiofrequency ablation devices, prostatic stents, and implants. Active surveillance serves as one of the primary treatment methods for BPH. This approach entails closely monitoring the condition without active intervention. Under the guidance of a urologist, regular monitoring of the BPH will take place, typically through annual physical examinations. The focus will be on identifying any new or worsening symptoms before considering further interventions. Additionally, lifestyle modifications, including dietary adjustments and exercise, are commonly recommended to prevent or manage symptoms. Active surveillance is typically suitable for men experiencing mild to moderate symptoms or those who are not significantly bothered by BPH symptoms. However, if symptoms worsen or new ones emerge, the healthcare provider may recommend transitioning to active therapy.

Impact of COVID-19 on Global Benign Prostatic Hyperplasia (BPH) Treatment Market:

COVID-19 pandemic adversely affected global benign prostatic hyperplasia (BPH) treatment market. The healthcare system's focus on managing and containing the virus has resulted in a redirection of resources, affecting the diagnosis and treatment of non-emergency conditions, such as BPH. Delayed elective surgeries, reduced outpatient visits, and disruptions in the supply chain of medications and medical devices have impacted the market. Moreover, the economic impact of the pandemic has led to financial constraints for individuals, affecting their ability to seek timely BPH treatment. However, with the gradual resumption of healthcare services and the development of vaccination programs, the market recovered in the post-pandemic period, with a renewed emphasis on addressing the unmet needs of BPH patients.

Global Benign Prostatic Hyperplasia (BPH) Treatment Market - By Therapy:

By therapy, the global benign prostatic hyperplasia (BPH) treatment market is bifurcated into Mono Drug Therapy and Combination Drug Therapy segments. The combination drug therapy segment holds a higher market share in the global benign prostatic hyperplasia (BPH) treatment market, due to its enhanced efficacy and comprehensive approach. By combining medications with different mechanisms of action, combination therapy offers improved symptom relief and better outcomes compared to mono drug therapy. The synergistic effects of combined drugs further contribute to its popularity among healthcare providers and patients. Treatment guidelines and recommendations endorsing combination therapy, along with patient preferences for convenience, also drive its market dominance. Streamlining multiple medications into a single combination product enhances medication adherence and patient compliance. These factors collectively contribute to the prominence of combination drug therapy in the BPH treatment market.

Competitive Landscape:

Major players operating in the global benign prostatic hyperplasia (BPH) treatment market include: Astellas Pharma Inc., Eli Lilly and Company, GlaxoSmithKline plc, AstraZeneca plc, Johnson & Johnson, Pfizer Inc., Abbott Laboratories, Boston Scientific Corporation, Medtronic plc, Urologix, LLC, Teleflex Incorporated, Olympus Corporation, Merck & Co., Inc., Allergan plc, and Endo International plc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Benign Prostatic Hyperplasia (BPH) Treatment Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Benign Prostatic Hyperplasia (BPH) Treatment Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.