New York, July 22, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Benign Prostatic Hyperplasic Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Resectoscopes, Urology Lasers, Radiofrequency Ablation Devices, Prostatic Stents, and Implants), Procedure Type (Transurethral Microwave Therapy, Transurethral Resection of the Prostate, Transurethral Needle Ablation of the Prostate, Laser Surgery, Urolift Surgery, and Others), and End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Others), and Geography”, the global benign prostatic hyperplasic devices market research report provides deep dive regional and country level analysis of 18+ countries across 5 key regions, 50+ key company profiles, detailed SWOT and PEST analysis, in-depth market segmentation and industry landscape to provide latest market initiatives and competitive landscape, impact of COVID-19 pandemic on ecosystem.
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Benign Prostatic Hyperplasic Devices Market Report Scope & Strategic Insights:
| Report Coverage | Details |
| Market Size Value in | US$ 2.07 Billion in 2021 |
| Market Size Value by | US$ 3.46 Billion by 2028 |
| Growth rate | CAGR of 7.6% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| No. of Pages | 190 |
| No. Tables | 84 |
| No. of Charts & Figures | 80 |
| Historical data available | Yes |
| Segments covered | Product, Procedure Type, and End User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Benign Prostatic Hyperplasic Devices Market: Competition Landscape and Key Developments
KARL STORZ SE & Co. KG; Richard Wolf GmbH; Olympus Corporation; Urologix, LLC.; Boston Scientific Corporation; Butterfly; TELEFLEX Incorporated; OmniGuide Holdings, Inc.; Convergent Laser Technologies; ProArc; and Olympus Corporation are among the key companies operating in the benign prostatic hyperplasic devices market. The companies adopt product innovation strategies to meet the evolving customer demands globally, which also permits them to maintain their brand name in the global benign prostatic hyperplasic devices market. Also, market players create partnerships, collaborations, and contracts with hospitals, diagnostic centers, and academic and research institutes to provide frozen tissue samples for various studies, which is driving the benign prostatic hyperplasic devices market.
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A few of the recent developments in the benign prostatic hyperplasic devices market are mentioned below:
In April 2022, Teleflex Incorporated launched the UroLift System in Japan for treating BPH or enlarged prostate. The system was made available for purchase immediately after the launch.
In May 2020, Teleflex Incorporated received National Medical Products Administration (NMPA) approval for its UroLift System for treating BPH in China.
In April 2020, Olympus announced the approval of iTind, its nonsurgical medical device, for the minimally invasive surgery of BPH. This is a temporarily urethral opening device that has been given a De Novo classification by the FDA and is a Class II medical device.
In July 2020, the National Medical Products Administration (NMPA) clearance its regulatory approval for Sonablate, a global leader in minimally invasive ultrasound technology, to treat BPH. The Sonablate device was approved for the treatment of local, low- and medium-risk prostate cancer in China from that month. Now, it has also been approved for the treatment of BPH in the country.
In March 2021, AquaBeam Robotic System—a PROCEPT BioRobotics Corporation, Redwood City, California—received 510(k) approval from the FDA as a Class II device for the same use as the predicate device. The AquaBeam system uses a pressurized fluid jet to cut the desired tissue and is capable of mapping the prostatic treatment areas.
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Benign Prostatic Hyperplasic Devices Market: Key Insights
The benign prostatic hyperplasic devices market growth driven by the rise in the prevalence of benign prostatic hyperplasia among men, the rise in investments, funds, and grants for research in BPH treatment. However, less awareness about prostate health among men is hampering the market's growth.
Benign prostatic hyperplasia (BPH) is a prostate enlargement caused by excessive cell growth in the prostate. BPH is a benign (non-cancerous) prostate condition. Non-cancerous conditions are not usually fatal and do not spread (metastasize) to other body parts. BPH does not raise the risk of prostate cancer; unless it manifests symptoms, BPH is not considered a health issue. Almost all men are expected to have some prostate growth by 70. Getting older, having more belly fat (also known as abdominal obesity), and not getting enough exercise to raise the risk of developing BPH.
The benign prostatic hyperplasic devices market includes many small and big companies. Market players are adopting various strategies to increase their market shares; these include new product launches, regional expansion, and technological advancements. With continued innovation, benign prostatic hyperplasia devices are becoming safer, and treatments are becoming easier and more effective, driving the acceptance of benign prostatic hyperplasic devices worldwide.
Leading players in the benign prostatic hyperplasic devices market focus on expanding their customer reach across emerging markets by expanding their distribution networks and augmenting manufacturing capabilities. Most players are shifting their focus to emerging markets with the maturing of the US and European markets. Due to less stringent regulations and data requirements, Asia Pacific has become a business-friendly and adaptable hub.
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In addition, high investments in life science and healthcare research in emerging countries play a crucial role in upgrading the latest technologies in developing countries. In turn, this supports the inclination toward advanced benign prostatic hyperplasia treatments. Crucial benign prostatic hyperplasic device manufacturers in India, Mexico, South Korea, and Brazil are expected to witness lucrative opportunities in the future owing to the large patient pool and high benign prostatic hyperplasia prevalence, increasing disposable income, improving healthcare infrastructure, and growing medical tourism in these countries.
The benign prostatic hyperplasic devices market includes many small and big companies. Market players are adopting various strategies to increase their market shares; these include new product launches, regional expansion, and technological advancements. With continued innovation, benign prostatic hyperplasic devices are becoming safer, and treatments are becoming easier and more effective. This is driving the acceptance of benign prostatic hyperplasic devices worldwide.
The active participation of market players in product innovation and development and an increase in the approvals of products are fueling the growth of the benign prostatic hyperplasic devices market during the forecast period.
In September 2021, Boston Scientific acquired the global surgical business of Lumenis LTD., a privately-held company that develops and commercializes energy-based medical solutions, from an affiliate of Baring Private Equity Asia (BPEA). The Lumenis surgical business includes premier laser systems, fibers, and accessories used for urology and otolaryngology procedures, with total revenue anticipated to be approximately US$ 200 million for full-year 2021.
In June 2020, Olympus Corporation acquired Israeli medical device company Medi-Tate Ltd. Through this acquisition, Olympus expanded its business line in offering in-office treatment for benign prostatic hyperplasia (BPH) treatment and solidified its position as a leader in the field of urological devices.
In May 2022, Teleflex Incorporated received National Medical Products Administration (NMPA) approval for its UroLift System in China for treating benign prostatic hyperplasia (BPH).
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In May 2022, Teleflex Incorporated launched UroLift System in Japan for treating benign prostatic hyperplasia (BPH) or enlarged prostate. The UroLift System is a minimally invasive approach to treating BPH that can be performed as a same-day outpatient procedure. The UroLift System provides rapid symptom relief for men with BPH and allows a quick recovery time for patients.
In January 2022, OmniGuide Holdings received U.S. Food and Drug Administration clearance for the RevoLix HTL, a family of pulsed and continuous wave Thulium YAG lasers. The product is used on urology patients undergoing benign prostatic hyperplasia (BPH) and stone management procedures.
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