Dublin, Jan. 05, 2021 (GLOBE NEWSWIRE) -- The "Benign Prostatic Hyperplasia (BPH) Devices Market - Global Outlook and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The global benign prostatic hyperplasia devices market is expected to grow at a CAGR of over 22% during the period 2019-2025.
The global benign prostatic hyperplasia (BPH) devices market is expected to observe an absolute growth of over 242% during the forecast period. The market is growing due to several factors; however, the growing number of the elderly men population is a primary factor responsible for influencing the growth of the BPH devices market. BPH is one of the most common diseases in men, which generally develops after the age of 40 years, with a prevalence rate of around 8-60% between 40 and 90 years.
Moreover, it affects about 70% of US men between the age of 60 and 69 years. Approximately 32 million men worldwide experience mild to severe symptoms of BPH. According to several medical studies, there are more than 50% of men above age 50 diagnosed with an enlarged prostate. Besides, there are 4 million men who suffer from BPH. Hence, the high prevalence among men is a major factor contributing to the demand for advanced medical devices.
Benign Prostatic Hyperplasia Devices Market Segmentation
The benign prostatic hyperplasia devices market research report includes a detailed segmentation by procedure, end-user, geography. The PUL technology segment is growing due to the increasing patient population and the growing adoption of advanced minimally invasive treatment. PUL is an advanced minimally invasive procedure for the treatment of BPH with less complications. As these procedures can be performed under local, spinal, or general anesthesia or in in-office settings or clinics, the technique is grabbing attention among end-users in developed economies, thereby influencing the segment.
In 2019, the hospital end-user was the largest segment in the global benign prostatic hyperplasia devices market. However, the segment is likely to witness the slowest growth during the forecast period due to the change in patients' preference in terms of treatment. As BPH surgical treatment is witnessing the application of innovative MI devices, BPH surgical care is moving toward out-patient settings.
However, the increasing aging population and the growing patient group with BPH have led to high hospitalization rates. Most patients prefer hospitals, especially public ones, as their priority due to the availability of insurance coverage and less out-of-pocket expenses in case of inadequate reimbursement for BPH surgeries. Further, the availability of skilled healthcare professionals with knowledge and expertise in performing both invasive and MI BPH surgeries also attracts more patients to hospitals.
Insights by Geography
North America is growing at a fast CAGR due to the growing preference for technologically advanced BPH devices. Although the high cost of BPH devices can affect the market adversely, the presence of reimbursement coverage for both invasive and minimally invasive treatment options will have a positive impact on the growth. The availability of reimbursement coverage for several BPH devices is likely to boost the market in the region.
North America is currently dominating the TURP segment, with around 150,000 people in the US opting for TURPs annually because of high medical reimbursement facilities. Therefore, the market is growing at significant growth, and the region is dominating the market and expected to dominate in the upcoming years.
Insights by Vendors
The global BPH devices market is fairly concentrated and is characterized by the presence of established vendors holding the majority of the share. There is a significant number of global as well as regional players offering advanced BPH devices in the market. Teleflex, KARL STORZ, Lumenis, Urologix, and Boston Scientific are the key players in the benign prostatic hyperplasia devices market. These companies have a wide geographic footprint, diversified product portfolio, and a strong focus on innovation and research activities.
Key Vendors
- KARL STORZ
- Lumenis
- Boston Scientific
- Urologix
- Teleflex
Other Vendors
- BD
- Olympus
- Richard Wolf
- OmniGuide
- Urotech Devices
- Biolitec
- PROCEPT BioRobotics
- Medi-Tate
- Pnn Medical
- MEDpro Medical
- Allium Medical
- SRS Medical
- ROCAMED
- Coloplast
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope Of The Study
4.4 Market Segments
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
8 Market Opportunities & Trends
8.1 Emergence Of Innovative BPH Treatment Devices
8.2 Increasing Demand For In-Office BPH Treatment
8.3 Popularity Of Robotic-Assistance Surgical Techniques
9 Market Growth Enablers
9.1 Increasing Patient Population
9.2 Growing Demand For Minimally Invasive Treatment
9.3 Technological Advances
10 Market Restraints
10.1 Higher Adoption Of Medications
10.2 High Cost Of BPH Devices & Surgeries
10.3 Complications Associated With BPH Devices
11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.3 Five Forces Analysis
12 Procedure
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Prostatic Urethral Lift (PUL)
12.4 Laser
12.5 Transurethral Resection Of The Prostate (TURP)
12.6 Others
13 End-User
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Hospitals
13.4 Specialty Urology Clinics
13.5 ASCs
14 Geography
14.1 Market Snapshot & Growth Engine
14.2 Geographic Overview
For more information about this report visit https://www.researchandmarkets.com/r/pxu5v
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.