New York, Feb. 13, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Benign Prostatic Hyperplasia (BPH) Treatment Devices And Equipment Global Market Report 2023" - https://www.reportlinker.com/p06277137/?utm_source=GNW
, ProArc Medical LTD., and Olympus America.
The global benign prostatic hyperplasia (BPH) treatment devices and equipment market will grow from $1.49 billion in 2022 to $1.62 billion in 2023 at a compound annual growth rate (CAGR) of 8.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The benign prostatic hyperplasia (BPH) market is expected to grow to $2.09 billion in 2027 at a CAGR of 6.6%.
The benign prostatic hyperplasia (BPH) treatment devices and equipment market consist of sales of prostatic stents, catheter ablation devices, resectoscopes, radiofrequency ablation devices, urology lasers, and prostatic stents that are used to treat benign prostatic hyperplasia.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Benign prostatic hyperplasia or benign prostatic hypertrophy is a condition of prostate gland enlargement which causes blockade of urethra, the tube that carries urine from the bladder.
North America was the largest region in the benign prostatic hyperplasia (BPH) treatment devices and equipment market in 2022.Western Europe was the second largest region in the benign prostatic hyperplasia (BPH) treatment devices and equipment market.
The regions covered in the benign prostatic hyperplasia (BPH) treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main products in the benign prostatic hyperplasia (BPH) treatment devices and equipment market are resectoscopes, radiofrequency ablation devices, urology lasers, prostatic stents, and implants.A resectoscope is an endoscope that is used for surgeries on the uterus, prostate, bladder, or urethra.
The device helps in extracting tissue for biopsy, removing growths, or ablating diseased or damaged tissue.The various procedure types are transurethral needle ablation (TUNA), transurethral resection of the prostate (TURP), transurethral incision of the prostate (TUIP), transurethral microwave thermotherapy (TUMT), laser surgery, and others.
The various end-users involved are hospitals, ambulatory surgical centres (ASC), clinics, homes.
Benign Prostatic Hyperplasia (BPH) also called Prostate Gland Enlargement (PGE), is a condition where the patient suffers from uncomfortable urinary symptoms.Due to the rising prevalence of Benign Prostatic Hyperplasia (BPH), demand for the BPH treatment devices and equipment is on a steady rise as the number of BPH cases increases the demand for devices will also increase.
For example, in 2021, more than 14 million men in the United States have symptoms of BPH.Globally 30 million men have symptoms related to BPH.
Therefore, with the number of BPH cases on the steady rise, the demand for BPH treatment devices and equipment is also expected to grow.
The side effects suffered by the patients after a BPH procedure are one of the major restraints for the BPH device and equipment market.For example, the most common side effects of a BPH surgery include urinary incontinence, discomfort during urination, and difficulty in completely emptying the bladder.
The patients suffering from BPH do not prefer surgical procedures (till the stage it can be avoided) due to these side effects, therefore decreasing the demand for surgical procedures, which in turn limits the demand for devices used by end-users like hospitals, clinics, and ambulatory surgical centres.
Prostatic Artery Embolization (PAE) is one of the latest developments in the market for Benign Prostatic Hyperplasia (BPH) treatment devices and equipment.PAE is a minimally invasive treatment that assists in reducing the symptoms observed in the urinary tract.
The PAE procedure is done using X-rays and other advanced imaging to observe the tumor inside the body and accordingly treat it without any surgery. This technique results in reduced complications in the treatment of BPH and thus is said to be a major development in the market of BPH treatment. Leading companies such as Boston scientific, UNC healthcare, and Spire healthcare have been investing in the market for PAE
Product recall is a process of retrieving all defective products that have been sold or are available in the market.When a company recalls a product from the market, the company bears all the cost of fixing the defective product and the cost of replacement.
This cost of replacement for large companies can go up to a multi-million dollars, hence restraining the growth of the company and for the whole market as well.Product recall is one of the major hurdles for any market, Benign Prostatic Hyperplasia (BPH) Treatment Devices, and Equipment market is no exception.
For example, in the year 2021, Arrow International recalled Arrow-Trerotola over-the-wire PTD kit percutaneous Thrombolytic device due the risk of separation.
In March 2021, Olympus exercises, a Japan-based company manufacturer of optics and reprography products acquired Medi-Tate for an undisclosed amount.This acquisition of Medi-Tate to drive growth in its urology business and expand its minimally invasive treatment product portfolio.
Medi-Tate is an Israeli medical device company for improves men’s healthcare and quality of life through effective, non-surgical solutions.
The countries covered in the benign prostatic hyperplasia (BPH) treatment devices and equipment market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The benign prostatic hyperplasia (BPH) treatment market research report is one of a series of new reports that provides benign prostatic hyperplasia (BPH) treatment market statistics, including benign prostatic hyperplasia (BPH) treatment industry global market size, regional shares, competitors with a benign prostatic hyperplasia (BPH) treatment market share, detailed benign prostatic hyperplasia (BPH) treatment market segments, market trends and opportunities, and any further data you may need to thrive in the benign prostatic hyperplasia (BPH) treatment industry. This benign prostatic hyperplasia (BPH) treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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