Market Size and Growth Report 2023-2032:
Global Benign Prostatic Hyperplasia Treatment Market Size was valued at USD 11.6 Billion in 2022. The Benign Prostatic Hyperplasia Treatment market Therapeutic Class is projected to grow from USD 12.3 Billion in 2023 to USD 18.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.70% during the forecast period (2023 - 2032). The prevalence of benign prostatic hyperplasia is rising, and personalized medicine technology is developing, are the key market drivers enhancing the market growth.
Market Trends
Increasing prevalence of benign prostatic hyperplasia is driving the market growth
Benign prostatic hyperplasia, a non-cancerous development of prostate tissue, frequently causes symptoms in the lower urinary system in males. Male aging is thought to be associated with BPH, which is hormonally dependent on the production of testosterone and dihydrotestosterone (DHT). 50% and 90% of males, respectively, display histopathologic benign prostatic hyperplasia by the ages of 60 and 85. According to estimates, 30 million men globally and 14 million men in the US suffer with benign prostatic hyperplasia. According to data from the Health Insurance Review and Assessment (HIRA) organization in 2018, BPH diagnoses increased by 1.2 million in 2017 and were diagnosed in over 7,600,000 people in 2010. This represents an overall growth of 58% from 2010 and an average annual growth of 7%.
The aging population is believed to be a significant contributor in the rise in benign prostatic hyperplasia incidence, particularly among elderly men, given that the ailment frequently affects men as they age. As a result, there will be a need for appropriate therapies in significant markets as this population group grows. For instance, China is believed to have the biggest geriatric population in the world, and by 2050, that number is projected to rise from 10.1% to 26.8% (source: US Census Bureau). By 2050, there may be 100 million Chinese individuals who are 80 years of age or older, according to the WHO. In 2019, there were five million men living in the United Kingdom, according to the NHS. There should be about nine million men living there by the year 2050.
The market for BPH therapies is booming as a result of the rising prevalence of benign prostatic hyperplasia and the growing number of elderly men worldwide. The development of BPH in obese people is also influenced by elevated sympathetic nerve activity, altered endocrine status, a heightened inflammatory response, and oxidative stress. The body's hormonal changes also cause prostate enlargement, which contributes to BPH. As a result, therapies for benign prostatic hyperplasia are in high demand. In order to increase awareness for various urological conditions, including benign prostatic hyperplasia, leading companies in the Benign Prostatic Hyperplasia Therapeutics market have increased their efforts in this area. These activities help to promote market growth.
The expiration of the patency of significant branded products has sparked the development of numerous generic medications, collaboration among the key players for the development of new BPH therapeutics for better drug efficacy and safe therapy for already existing medications, as well as upcoming new molecular entities. These changes have accelerated the market's growth. 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 the elderly, and increased utilization of medical services. However, it is projected that market expansion will be constrained by a higher acceptance rate of minimally invasive surgical procedures than of BPH medicines. Thus, driving the Benign Prostatic Hyperplasia Treatment market revenue.
Key Market Players & Competitive Insights
Major players in the Benign Prostatic Hyperplasia Treatment market, including 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, are attempting to increase market demand by investing in research and development operations.
Astellas Pharma Inc (Astellas) is a pharmaceutical company that develops, manufactures, and distributes a wide range of medications. The company's product portfolio includes therapies for a range of urological illnesses, infectious diseases, cancer, nephrology, and metabolic diseases, immunodeficiency diseases, and transplantation. Acute myeloid leukemia (AML), urothelial cancer, gastric cancer, gastroesophageal junction cancer, anemia linked to chronic kidney disease (CKD) in dialysis patients, rheumatoid arthritis, and non-dialysis patients are among the diseases with drug candidates in its pipeline. It operates in the Americas, Australia, Europe, Asia, and Oceania with the aid of a network of subsidiaries and affiliates. Astellas is headquartered in Tokyo, Japan. To develop new immuno-oncology treatments, Xyphos Biosciences, Inc., a completely owned subsidiary of Astellas, and GO Therapies, Inc., announced their strategic research collaboration and license agreement in June 2022.
A healthcare company called GSK plc (GSK) specializes in the development, manufacturing, and marketing of generic drugs, specialty drugs, and vaccines. It offers medicines for the treatment of illnesses like HIV, cancer, respiratory, immuno-inflammatory, antiviral, metabolic, cardiovascular, urogenital, antibacterial, dermatological, and unusual problems. Additionally, the company offers over-the-counter (OTC) remedies for treating pain, nutrition, and skin issues. A few of the diseases that are protected against by GSK's vaccine portfolio include bacterial meningitis, hepatitis, diphtheria, tetanus, whooping cough, rotavirus and HPV infections. The company sells its products through wholesalers, pharmacies, medical facilities, offices of general practitioners, and other businesses all around the world. GSK's headquarters are in Brentford, Middlesex, in the United Kingdom. It was announced that GlaxoSmithKline (GSK) and Pfizer Inc. would merge in July 2020.
Key Companies in the market
- Air Liquide
- 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
- Teva Pharmaceutical Industries Limited
Industry Developments
October 2020: It was reported that Astellas Pharma Inc. and Takeda Pharmaceutical Company Limited would merge; the transaction is expected to be completed in 2023. Establishing a global leader in the development and promotion of state-of-the-art treatments for persons with benign prostatic hyperplasia (BPH) is the aim of this merger.
Market Segmentation
Benign Prostatic Hyperplasia Treatment Therapeutic Class Outlook
- Alpha Blockers
- 5- Alpha Reductase Inhibitors
- Phosphodiesterase-5 Inhibitors
- Others
Benign Prostatic Hyperplasia Treatment Therapy Outlook
- Mono Drug Therapy
- Combination Drug Therapy
Market Segment Insights
Benign Prostatic Hyperplasia Treatment Therapy Insights
The global Benign Prostatic Hyperplasia Treatment market segmentation, based on Therapy, includes mono drug therapy and combination drug therapy. Mono drug therapy segment dominated the global Benign Prostatic Hyperplasia Treatment market in 2022. Alpha-blockers, which aid in treating the illness by loosening the muscles in the prostate and bladder neck and facilitating easier urine flow, are associated to the increase in demand for these drugs.
Benign Prostatic Hyperplasia Treatment Therapeutic Class Insights
The global Benign Prostatic Hyperplasia Treatment market segmentation, based on Therapeutic Class, includes alpha blockers, 5- alpha reductase inhibitors, phosphodiesterase-5 inhibitors, others. Alpha-blockers segment dominated the global market in 2022. Alpha-blockers cause the muscles in the prostate and bladder neck to relax, which makes it simpler for pee to flow. An alpha-blocker, which acts right away, is often the first line of treatment for guys with mild to severe symptoms.
Benign Prostatic Hyperplasia Treatment Regional Insights
By region, Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The North America Benign Prostatic Hyperplasia Treatment Market dominated this market in 2022 (45.80%). This is a result of the high prevalence of BPH and its associated symptoms in the lower urinary tract. For instance, the National Institute of Health reports that the prevalence of benign prostatic hyperplasia can increase from 50% to 60% in men in their 60s to 80% to 90% in people over the age of 70. Further, In the North American area, the U.S. Benign Prostatic Hyperplasia Treatment market had the biggest market share, while the Canada Benign Prostatic Hyperplasia Treatment market had the quickest rate of expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Europe Benign Prostatic Hyperplasia Treatment market accounted for the healthy market share in 2022. This is brought on by a rise in the prevalence of BPH, unhealthy lifestyles that lead to obesity, the presence of notable people, and increased healthcare costs in the region. Further, In the European region, the German Benign Prostatic Hyperplasia Treatment market had the biggest market share, and the U.K. Benign Prostatic Hyperplasia Treatment market had the quickest rate of growth.
The Asia Pacific Benign Prostatic Hyperplasia Treatment market is expected to register significant growth from 2023 to 2032. This is caused by an increase in the older population in the area, research and development, epidemics of urological diseases, unmet medical demands, and investments in the healthcare sector. Moreover, In the Asia-Pacific region, the Indian Benign Prostatic Hyperplasia Treatment market had the quickest rate of growth while China's Benign Prostatic Hyperplasia Treatment market had the greatest market share.
The objective of the report is to present comprehensive analysis of Global Benign Prostatic Hyperplasia Treatment Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
Benign Prostatic Hyperplasia Treatment Market Report is also available for below Regions and Country Please Ask for that
North America
Europe
- Switzerland
- Belgium
- Germany
- France
- U.K.
- Italy
- Spain
- Sweden
- Netherland
- Turkey
- Rest of Europe
Asia-Pacific
- India
- Australia
- Philippines
- Singapore
- South Korea
- Japan
- China
- Malaysia
- Thailand
- Indonesia
- Rest Of APAC
Latin America
- Mexico
- Argentina
- Peru
- Colombia
- Brazil
- Rest of South America
Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest Of MEA
Points Covered in the Report
- The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
- The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
- The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
- Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
- The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Key Questions
- How much the global Benign Prostatic Hyperplasia Treatment Market valued?
- Which region has the largest share in 2023 for the global Benign Prostatic Hyperplasia Treatment Market?
- What are the driving factors for the market?
- Which is the leading segment in the global market?
- What are the major players in the market?
Research Scope of Benign Prostatic Hyperplasia Treatment Market
- Historic year: 2018- 2021
- Base year: 2022
- Forecast: 2023 to 2032
- Representation of Market revenue in USD Million
Benign Prostatic Hyperplasia Treatment Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends:
