Luton, Bedfordshire, United Kingdom, Aug. 24, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Benign Prostatic Hyperplasia Treatment Market.
Benign prostatic hyperplasia treatment market size was valued at USD 5.87 billion in 2020 and is projected to reach USD 9.71 billion by 2029, growing at a CAGR of 19.4% from 2022 to 2029.
The number of patients suffering from benign prostatic hyperplasia (BPH) is alarmingly increasing, prompting central authorities to take aggressive measures to control the progression of the disease. According to a study published in the Canadian Journal of Urology, approximately 50% of men over the age of 50 are likely to have BPH. This has led to an increase in awareness campaigns by central health authorities.
Patent expiry incidents have long impacted the profitability of the benign prostatic hyperplasia treatment market. According to the study, major BPH treatments such as Avodart, Cialis, Jalyn and Rapallo will be off-patent in 2024. Lack of branded drugs paves a lucrative path for regional and local players to increase investment in developing generic and bio similar products.
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Regional Opportunities- North America dominated the treatment market for benign prostatic hyperplasia. Rising elderly and obese population, along with the availability of research funding, are the major factors driving the market expansion. Initiatives of major players can also affect the industry.
Market Developments
The key participants are into extensive research to keep themselves affable in the Benign Prostatic Hyperplasia Treatment Market.
- According to a report published by the United States Census Bureau in 2018, the number of persons aged 65 and up in the United States is expected to rise dramatically between 2016 and 2060. By 2030, one in every five Americans will be 65 or older, accounting for 78.0 million people out of the total population.
- Abbott Laboratories is an American multinational medical devices and health care company with headquarters in Abbott Park, Illinois, United States. The company was founded by Chicago physician Wallace Calvin Abbott in 1888 to formulate known drugs; today, it sells medical devices, diagnostics, branded generic medicines and nutritional products.
Benign Prostatic Hyperplasia Treatment Market Scope and Segmentation
| Report Feature | Details |
| Base Year: | 2021 |
| Projection Period: | 2022-2029 |
| Market Details: | Total revenue and forecast, CAGR, Market value, share, and Y-o-Y growth by segment and region |
| Segment Covered: | By Treatment, by End User, by Region. |
| Regional and Country Scope | North America: includes the US, Canada, Mexico Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe South America: includes Brazil, Argentina and Rest of South America Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and Rest of MEA |
| Report Coverage: | Market growth driving factors, challenges & pitfalls, opportunities, trends, key players analysis, and region analysis |
| Market Players Covered | Abbott Laboratories, AbbVie (Allergan Plc), Astellas Pharma Inc., Boehringer Ingelheim Pharma GmbH & Co. KG, Eli Lilly and Company, GlaxoSmithKline plc., Merck & Co., Inc. (Merck Sharp & Dohme Corp), Pfizer Inc., Sanofi and Teva Pharmaceutical Industries Limited |
| Growing aging population boosts market growth | According to the United country Department of Economic and Social Affairs (UNDESA) report on the aging of the world population, the number of people aged 65 and over is growing rapidly and is expected to more than double by 2050. Increased research and development (R&D) activity for the treatment of prostate disease, especially the elderly requiring additional care, is improving BPH treatment devices, thereby advancing the global benign prostatic hyperplasia treatment market. |
Browse Detailed Research Insights with TOC:
https://exactitudeconsultancy.com/reports/6559/benign-prostatic-hyperplasia-treatment-market/
Rise in Medical Tourism Catapulting Indian Benign Prostatic Hyperplasia Treatment Market
According to the Exactitude consulting Study, the typical cost of transurethral resection of the prostate (TURP) in the United States ranges from $8,000 to $12,000, while the cost of the same procedure in India is significantly lower (approximately $1,500 to $12,000). $6,000). The cost benefits of his TURP surgery in India have persisted, even as the surgeon uses state-of-the-art technology and diagnostic equipment to improve patient outcomes.
This creates a new revenue stream for the benign prostatic hyperplasia treatment market through medical tourism. This is especially driven by patients from Western countries such as the US and UK. Also, there are no long waiting lists in both private and public hospitals and India also has relaxed visa policies, making it a favorable country for medical tourism.
Key Market Segments: Benign Prostatic Hyperplasia Treatment Market
Benign Prostatic Hyperplasia Treatment Market by Treatment, 2020-2029, (USD Million)
- Drug Class
- Minimally Invasive Surgeries
- Laser Therapy
Benign Prostatic Hyperplasia Treatment Market by End User, 2020-2029, (USD Million)
- Hospitals
- Ambulatory Surgical Centres
- Specialty Clinics
Benign Prostatic Hyperplasia Treatment Market by Region, 2020-2029, (USD Million)
- North America
- Europe
- Asia Pacific
- South America
- Middle East And Africa
Important countries in all regions are covered
Detailed TOC of Global Benign Prostatic Hyperplasia Treatment Market Research Report 2022
| 1 | Report Introduction |
| 2 | Executive summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Key Factors Analysis |
| 5 | Porter’s Five Forces Analysis |
| 6 | COVID-19 Impact Analysis on Benign Prostatic Hyperplasia Treatment Market |
| 7 | Benign Prostatic Hyperplasia Treatment Market Layout |
| 8 | Global Company Share Analysis – Key 3-5 Companies |
| 9 | Benign Prostatic Hyperplasia Treatment Market Company and Product Profiles |
| 10 | Project Approach |
| 11 | Report Coverage- Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
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