Global Benign Prostate Hyperplasia (BPH) Market - 2022-2029

Market Overview

Benign Prostate Hyperplasia (BPH) Market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of 6 % during the forecast period (2022-2029).

BPH (benign prostatic hyperplasia) is a urological disease marked by the non-cancerous proliferation of prostate gland cells. The gland enlarges due to this disease, rubbing against the urethra and limiting urine flow. Ageing, hormonal imbalances, and irregular cell growth are also related to this disease. BPH is characterized by excessive urination, trouble starting urine, a poor urinary tract, and the inability to drain the urinary bladder. Men with mild to moderate BPH are currently treated with drugs. The growth in the male geriatric population is driving the global benign prostatic hyperplasia therapeutics industry.

Market Dynamics: The rise in geriatric population drives market growth

BPH (benign prostatic hyperplasia) is becoming more commonly recognized as a growing health concern among elderly men. The magnitude of the problem is predicted to multiply in the coming years as the number of elderly men increases. The global geriatric population is growing significantly. In the past few years, the aging population of the United States increasing. For instance, in 2020, about 16.9 percent of the American population was 65 years old or over, which is expected to reach 22 percent by 2050. In addition birth rate in the United States has been falling over the last 20 years. California and Florida are the dominant states in the United States. According to World Health Organization's estimated data, by 2030, 1 in 6 people will be aged 60 years or above. The share of the population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion. By 2050, the world's population of people aged 60 years and older will double. The aging population above 80 or older is expected to triple between 2020 and 2050 to reach 426 million. By the age of 60, nearly half of men have histopathologic BPH, and by the age of 85, 90% of men have it. BPH signs affect 30 million men globally and 14 million men in the United States.

Other factors driving demand development include increased awareness of prostate cancer and other urological diseases and a rise in the number of patients with benign prostatic hyperplasia worldwide.

However, the side effects associated with BPH medications hamper the market growth. Although both medications and surgery can be used to treat BPH, both have serious side effects. Alpha-blockers, 5-ARIs (5-alpha reductase inhibitors), and other drug groups are widely used to treat BPH. Dizziness, orthostatic hypotension, retrograde ejaculation, and rhinitis are all typical side effects of alpha-blockers. Dizziness and orthostatic hypotension are most frequent in the elderly, leading to severe problems such as falls and fractures. The complications associated with the use of drugs are a key factor expected to curtail the growth of the global market over the forecast period.

Market Segmentation: TURP segment is projected to be the dominant segment in the market during the forecast period.

The global benign prostate hyperplasia (BPH) is segmented based on surgery, which includes TURP, TUMT, TUNA and Others.

TURP held the dominant position in the global market during the forecast period owing to the surge in TURP surgery globally. Prostate transurethral resection is a urological technique used to treat benign prostatic hyperplasia (BPH). It includes visualizing the prostate through the urethra and cutting tissue with electrocautery or sharp dissection. As a result, the demand is expected to increase as TURP becomes more common. Moreover, the TURP is expected to project a considerable CAGR during the forecast period.

Benign prostate hyperplasia (BPH) is segmented based on end-user, which includes hospitals, home care and others.

The homecare segment held a significant market share in the forecast period. The majority of patients are given drugs instead of surgery. Patients should continue taking their medications for a few weeks after surgery. As a result, the market is driven by home treatment compared to hospital services. Moreover, the demand is expected to increase with a rising preference for home care settings. Therefore, home care is expected to project a considerable CAGR during the forecast period.

Geographical Penetration: North America is the dominating region during the forecast period.

Based on geography, the study analyzes the Benign Prostate Hyperplasia (BPH) market in the global market, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

North America held a dominant position in the global benign prostate hyperplasia (BPH) market in 2021. In North America, the U.S. is expected to represent considerable growth during the forecast period. High prevalence of BPH and other associated lower urinary tract symptoms. Several studies over the past decade have shown that a large number of men in the U.S. aged 45 to 80 suffer from lower urinary tract symptoms, with the bulk of them experiencing BPH symptoms, which results in a huge market for benign prostate hyperplasia (BPH). Moreover, the United States is expected to represent significant growth in terms of value during the forecast period. Significant investment in R&D and advanced product development is expected to propel regional market growth.

The benign prostate hyperplasia (BPH) market for the Asia Pacific is expected to observe rapid growth over the forecast period, backed by the large population base, especially in India and China. Moreover, the rise in health care expenditure and the rapidly increasing prevalence of various urologic diseases are expected to augment the growth of the Asia Pacific Benign Prostate Hyperplasia (BPH) market.

Competitive Landscape:

The benign prostate hyperplasia (BPH) market is highly competitive, owing to the presence of big medical companies. The key players which are contributing to the growth of the global market include Endo International plc, KARL STORZ GMBH & CO.KG, Lumenis, Olympus Corporation., Urologix Inc., Boston Scientific Corporation, Coloplast A/S, Lisa Laser, Medifocus Inc, Neotract Inc, among others. The major players are adopting new product launches and expansion strategies for global growth in the benign prostate hyperplasia (BPH) market. In December 2020, Endo International plc acquired BioSpecifics Technologies Corp., a commercial-stage biopharmaceutical company, for $88.50 per share in an all-cash transaction. Through this acquisition, the company expanded its adjusted EBITDA and the profitability profile of both XIAFLEX and Qwo. These two products are the most durable and differentiated products with significant long-term growth potential. In August 2021, Strides Pharma acquired arms of Endo International plc (Endo) in the U.S. for $24 million. Through this acquisition, the company acquired 20 new commercial products from Endo International plc. Through this acquisition, Strides Pharma doubled its U.S. portfolio, potentially launching 5-6 new products each quarter. In August 2022, Teleflex announced a collaboration with Fundamental VR to improve training through virtual reality simulation. Through this collaboration Teleflex with a VR training platform to accelerate the effective use of the company's UroLift 2 system, a technology for treating benign prostatic hyperplasia (BPH).

COVID-19 Impact: Negative impact on the global benign prostate hyperplasia (BPH) market.

The COVID-19 epidemic is projected to have a major effect on the BPH care industry. Elective surgeries with benign pathology were advised to be deferred until the burden on the medical system from COVID-19 lessened, so hospitals will face a tremendous need for services to tackle a potential rise in COVID-19 incidents. Surgical operations such as TURP, HoLEP, ThuLEP, and PVP had to be delayed as a result.

The global benign prostate hyperplasia (BPH) market report would provide an access to approximately 61 market data tables, 52 figures and 170 pages