Dublin, May 17, 2023 (GLOBE NEWSWIRE) -- The "Benign Prostate Hyperplasia (BPH) Treatment Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028 Segmented By Drug Treatment, By Surgical Treatment, By End User, By Region" report has been added to ResearchAndMarkets.com's offering.
Global Benign Prostate Hyperplasia (BPH) Treatment Market is anticipated to observe impressive growth during the forecast period, 2024-2028, owing to the prevalence of benign prostatic hyperplasia, rising global male geriatric population and a rise in urological disorders associated with BPH.
According to Global Cancer Observatory, in 2020, around 19,292,789 new cancer cases were reported worldwide, among which Prostate Cancer was the most prevalent type of cancer, accounting for 14,14,259 cases 2020. Additionally, the lack of awareness among the public for early prostate diagnosis and detection is further expected to drive the growth of the Benign Prostate Hyperplasia (BPH) Treatment Market.
The growing prevalence of fatal diseases has significantly increased the demand for different types of drugs and surgeries. Additionally, expansion in research & development activities being initiated by various governments, ambulatory surgical centers, and pharmaceutical companies across the globe is further expected to create opportunities for the growth of the Benign Prostate Hyperplasia (BPH) Treatment market in the coming years. According to Statista Research Department, as of now, the United States will be the leading country worldwide in terms of spending on research and development, with expenditure exceeding around USD679.4 billion.
According to the Cancer fact sheet, the cancer rates are highest in Australia/New Zealand and North America. Prostate cancer is the fourth most common cancer overall and the second most common cancer in men.
Product Launches Boost Market
Surgery is a superior alternative to treating BPH with medicine; however, due to the post-operative harm that surgical cuts and burns do to the body, patients tend to choose medication. Patients' perceptions have changed as a result of the development of minimally invasive techniques and surgical equipment makers now have a competitive advantage. For instance, Teleflex Inc. launched the UroLift improved tissue control system in August 2020 to treat BPH.
To open the urethra, small implants that keep the prostate lobes in their retracted posture might be placed into the system. Patients with challenging prostatic anatomy, such as those who have large lateral lobes or an obstructive median lobe, are the target population for the device. These product launches are anticipated to boost the growth of the market.
Growth in Research & Development
Rapid advancements in research and development (R&D) practices and activities are propelling the growth of the market on account of the growing need for developing novel drug/surgery for the treatment of different life-threatening diseases like prostate cancer. According to Clinicaltrials.gov, 17 clinical trials are in different phases of development across the globe for Benign Prostate Hyperplasia (BPH) Treatment.
This clearly indicates that a lot of R&D is being done across the globe for developing Benign Prostate Hyperplasia (BPH) Treatment., thereby supporting the growth of the market. However, in February 2017, The Centre for Integrative Oncology (CIO) was established as a joint venture of the All India Institute of Ayurveda (AIIA) and the National Institute of Cancer Prevention and Research (NICPR-ICMR) with the intention of collaborative research activities in cancer.
Rising Investment in Healthcare
Advanced surgical therapies are very expensive; therefore, financial assistance is provided by the government for cancer treatment. An establishment of Ayushman
Bharat Health and Wellness Centers (AB-HWCs) were announced by the Government of India in February 2018 for the diagnosis and screening of three common cancers, i.e., oral, breast, and cervical. Another initiative launched in 2018, namely Pradhan Mantri Jan Arogya Yojana, surged treatment facilities for cancer up to a certain expenditure as per their norms.
The chemotherapy and radiotherapy packages, along with surgical oncology, are covered as part of cancer treatment in the impaneled hospitals under the scheme, and a total of 435 procedures have been defined for the treatment of cancer.
Report Scope:
In this report, Global Benign Prostate Hyperplasia (BPH) Treatment Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
Benign Prostate Hyperplasia (BPH) Treatment Market, By Drug Treatment:
- Alpha Blockers
- 5-Alpha Reductase Inhibitors
- Phosphodiesterase-5 inhibitors
Benign Prostate Hyperplasia (BPH) Treatment Market, By Surgical Treatment:
- Transurethral resection of the prostate (TURP)
- Prostatic Urethral Lift (PUL)
- Prostatectomy
- Laser surgery
- Transurethral microwave Technique (TUMT)
- Transurethral needle ablation of the prostate (TUNA)
- Others
Benign Prostate Hyperplasia (BPH) Treatment Market, By End User:
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Others
Benign Prostate Hyperplasia (BPH) Treatment Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Turkey
- Egypt
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
5. Global BPH Devices Market Outlook
6. North America BPH Devices Market Outlook
7. Europe BPH Treatment Market Outlook
8. Asia-Pacific BPH Treatment Market Outlook
9. South America BPH Treatment Market Outlook
10. Middle East and Africa BPH Treatment Market Outlook
11. Market Dynamics
11.1. Drivers
11.1.1. Increasing prevalence of Benign Prostate Hyperplasia
11.1.2. Growing geriatric population
11.1.3. Technological Advancement
11.2. Challenges
11.2.1. High Cost of Procedure
11.2.2. Side effects associated with the technique
11.2.3. Lack of Skilled Professionals to conduct invasive surgeries
12. Market Trends & Developments
12.1. Development of new drugs
12.2. Development of new surgeries
13. Clinical Trial Analysis
14. Competitive Landscape
15. Strategic Recommendations
16. About the Publisher and Disclaimer
A selection of companies mentioned in this report includes
- Boston Scientific Corporation
- Coloplast Corporation
- Teleflex Incorporated
- Olympus Corporation
- Glaxo Smith Kline PLC
- Eli Lily
- Abbott Laboratories
- Medifocus Inc.
- Urologix, LLC
- Pfizer Inc
For more information about this report visit https://www.researchandmarkets.com/r/5dqyqp
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