APAC to be the Fastest Growing Region For BPH Treatment Market in Current Decade says P&S Intelligence

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APAC to be the Fastest Growing Region For BPH Treatment Market in Current Decade says P&S Intelligence

August 04
14:10 2021
APAC to be the Fastest Growing Region For BPH Treatment Market in Current Decade says P&S Intelligence
The benign prostatic hyperplasia treatment market is projected to grow with healthy growth rate during the forecast period (2021–2030).

The BPH treatment market growth will thrive on factors such as the surging geriatric population, growing prevalence of prostate cancer, soaring awareness of prostate cancer and its treatments, rising adoption of minimally invasive procedures, enhancing healthcare infrastructure, and increasing technological advancements in personalized medicine, during 2021 and 2030. According to P&S Intelligence, the market revenue will rise to ~$17 billion by 2030.

One of the prominent growth drivers for the market is the soaring geriatric population across the world. According to the World Ageing Population 2020 report, the population of people aged 65 years or above will reach approximately 1.5 billion by 2050. As old people are highly susceptible to diseases such as BPH, market players are undertaking numerous research and development (R&D) activities to treat prostate conditions, particularly in the aging population, thereby fueling the need for additional care.

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At present, the BPH treatment market is witnessing a trend of product launches and approvals. Surgery is a better option for managing BPH than medication, but patients usually prefer medication over surgeries due to the post-operative damages caused by surgical cuts and burns. However, the advent of minimally invasive surgeries has changed the perception of patients toward surgical procedures. For instance, in August 2020, Teleflex Inc. developed the UroLift enhanced tissue control system to treat BPH patients.

Categories under the type segment of the BPH treatment market are drug treatment and surgical treatment. In 2020, the drug treatment category generated the higher revenue, due to the high-volume consumption of medicines for managing and treating this prostate disorder at the sub-acute and acute levels. This category is further divided into alpha blockers and 5-alpha reductase inhibitors. Whereas, the surgical treatment category is classified into transurethral resection of the prostate (TURP), transurethral microwave thermotherapy (TUMT), transurethral needle ablation of the prostate (TUNA), laser therapy, prostatic stenting, UroLift therapy, and rezûm therapy.

Globally, North America held the largest share in the BPH treatment market in 2020, due to the booming aging population, which is highly prone to BPH and several other lower urinary tract disorders. Moreover, the escalating number of innovations in BPH, surging awareness about BPH, and increasing reimbursement coverage will facilitate the market growth in the region in the foreseeable future. According to the U.S. Census Bureau, the population of people aged 65 years and above in the country stood at over 54 million on July 1, 2019.

Browse full report at: https://www.psmarketresearch.com/market-analysis/benign-prostatic-hyperplasia-treatment-bph-market

Whereas, the Asia-Pacific (APAC) BPH treatment market is expected to demonstrate the fastest growth during the forecast period. This can be majorly owed to the burgeoning geriatric population, rising incidence of BPH and associated disorders, and mounting expenditure on healthcare in the region. As per the United Nations Population Fund (UNFPA), by 2050, one out of every four people in APAC will be over 60 years. Furthermore, by 2050, the population of people aged 60 years and above in Asia will reach around 1.3 billion.

Therefore, the growing elderly population will drive the demand for BPH treatment medicines and devices in the coming years.

Market Size Breakdown by Segment

Based on Type

  • Drug Treatment
    • Alpha blockers
      • Alfuzosin
      • Doxazosin
      • Tamsulosin
      • Silodosin
      • Other alpha blockers
    • 5-alpha reductase inhibitors
      • Finasteride
      • Dutasteride
  • Surgical Treatment
    • Transurethral resection of the prostate (TURP)
    • Transurethral microwave thermotherapy (TUMT)
    • Transurethral needle ablation of the prostate (TUNA)
    • Laser therapy
    • Prostatic stenting
    • UroLift therapy
    • Rezûm therapy

Based on End User

  • Home Healthcare Settings
  • Hospitals & Clinics

Geographical Analysis

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    •  Spain
  • Asia-Pacific (APAC)
    •  Japan
    • China
    • India
    • Australia
    • South Korea
  • Latin America (LATAM)
    • Brazil
    • Mexico
  • Middle East
    • Saudi Arabia
    • South Africa

Browse Other Related Reports

Benign Prostatic Hyperplasia Procedures

The rising prevalence of BPH is a major reason driving the BPH procedures. A major reason for the increasing prevalence of this disease is the rapidly growing geriatric population across the globe. This high aged population is expected to create high demand for BPH treatment devices.
US Benign Prostatic Hyperplasia Procedures
The U.S. benign prostatic hyperplasia (BPH) procedures market is expected to advance at a 4.2% CAGR during the forecast period. This growth is driven by the rising incidence of BPH and technological enhancements in diagnostic and therapeutic procedures.

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