Benign Prostatic Hyperplasia Treatment Market Size to Reach USD 18.1 Billion by 2032, at 5.50% CAGR – Report by Market Research Future (MRFR)

New York, USA, July 13, 2023 (GLOBE NEWSWIRE) — Benign Prostatic Hyperplasia Treatment Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Benign Prostatic Hyperplasia Treatment Market Information By Product Type, Route of Administration, Type, Distribution Channel, And Region – Forecast till 2032,” the market size is projected to grow from USD 11.8 Billion in 2023 to USD 18.1 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.50% during the forecast period (2023 – 2032).

Benign Prostatic Hyperplasia Treatment Market Scope

BPH is the medical term for a benign proliferation of cells inside the prostate gland. The inside of the prostate is first affected. The urethra then gradually becomes compressed as a result of prostatic enlargement. BPH medicines, surgery, and minimally invasive surgery are viable medical treatments for BPH. Other names for this ailment include benign prostatic blockage and benign prostatic obstruction. It is one of the most prevalent illnesses in men over 50. The hyperplastic alterations in the prostate tissue that lead to prostatic enlargement are the root cause of BPH symptoms. Age causes the prostate to enlarge as a guy gets older. The urethra is pinched and pressed against by the prostate gland as it expands. The covering of the bladder thickens. The blockage that develops worsens detrusor muscle response and raises urine outflow resistance. Problems starting to urinate, a weak urine stream, an inability to empty the bladder, and increased urination frequency—typically at night—are all symptoms of this illness.

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During the forecast period, the global market for benign prostatic hyperplasia prostate treatment is anticipated to benefit from an increase in the prevalence of benign prostatic hyperplasia caused by the aging male population, being overweight, and physical inactivity as well as increased awareness of the existence of drugs for the condition. The bladder muscles relax, allowing urine to flow more easily while loosening the prostate’s grip on the urethra. As the prostate shrinks, the pressure the prostate puts on the urethra decreases, allowing urine to flow easily. The market for BPH therapies is booming due to the rising prevalence of benign prostatic hyperplasia and the growing number of elderly men worldwide. Altered endocrine position, a higher inflammatory response, and oxidative stress also influence the development of BPH in obese people.

Report Scope:

Benign Prostatic Hyperplasia Treatment Market Competitive Landscape:

• Astellas Pharma Inc.
• Boehringer Ingelheim Pharma GmbH & Co. KG
• Eli Lilly and Company
• GlaxoSmithKline plc.
• Air Liquide
• Abbott Laboratories
• AbbVie (Allergan Plc)
• Merck & Co., Inc. (Merck Sharp & Dohme Corp)
• Pfizer Inc.
• Sanofi
• Teva Pharmaceutical Industries Limited
• Among others.

Benign Prostatic Hyperplasia Treatment Market Trends:

Market Drivers:

The expiration of the patency for major branded pharmaceuticals has encouraged collaboration among the leading players to develop novel BPH treatments for enhanced efficacy, the development of multiple generic medications and safe treatment for existing medications, and the impending introduction of new molecular entities. These changes have accelerated the market’s growth. With an endoscopic electrosurgical treatment known as URP, a piece of a prostate gland is removed to alleviate a blockage caused by abnormal growth. Other factors, such as expanding individual medical care capacities and considerable infrastructural improvements in developing nations, are expected to expand the market. Global healthcare spending has significantly increased, which has boosted the market even more.

The main factors contributing to the increase in healthcare expenditures are population growth, especially among senior citizens, and increased utilization of medical services. However, it is projected that market expansion will be constrained by the greater popularity of minimally invasive surgery than BPH medicines. The market for therapies for benign prostatic hyperplasia is also becoming more competitive due to several technological advancements in medicine administration. The market for BPH treatments offers much potential for generic medicine manufacturers. Most BPH medications, including Cialis, Avodart, and Jalyn, have had their patents run out, allowing generic versions to sell.

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COVID 19 Analysis

The COVID-19 outbreak may also have a detrimental impact on the market for BPH therapies, according to projections. Many clinics and hospitals globally underwent a reorganization to increase hospital capacity to accommodate individuals with COVID-19 diagnoses. Due to the COVID-19 cases rapid growth, there may be a backlog for non-essential operations. The lockout hampered critical medical supply manufacturing and delivery. A shortage of medical professionals, restricted access to care, and the rise in COVID-19-related morbidity are a few more problems that affect the market.

Benign Prostatic Hyperplasia Treatment Market Segmentation

Depending on the therapy, the market offers both mono drug therapy and combination medication therapy.

The market contains alpha-blockers, 5-alpha reductase inhibitors, and phosphodiesterase-5 inhibitors based on therapeutic class.

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Benign Prostatic Hyperplasia Treatment Market Regional Insights

Most of the benign prostatic hyperplasia therapeutics market share was held by North America, and it is projected that this position will hold throughout the forecast period. This is due to increased BPH prevalence, unhealthy lifestyles that cause obesity, the presence of important actors, and rising healthcare costs in the area. In addition, various institutions in the US and Canada have worked together on several programs with non-profits and businesses to raise awareness and provide the resources needed to address the management of urological issues. The market is expanding as a result of the aging population as well. Because of this, North America is a tremendously lucrative market for businesses that comprise a sizeable percentage. However, due to the region’s growing elderly population, rising R&D activities, rise in urological disorders, unmet medical needs, and greater spending in the healthcare industry, Asia-Pacific is expected to experience significant growth.

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