Global Benign Prostatic Hyperplasia Treatment Market to Grow at 5.6% CAGR from 2021 to 2026

Strategic Insights -

The global benign prostatic hyperplasia (BPH) treatment market was valued at $10.5 billion in 2020 and is anticipated to grow at a compound annual growth rate (CAGR) of 5.6% from 2021 to 2026. The market is driven by the increasing prevalence of urological disorders, rising geriatric population, and growing awareness among the masses regarding available treatment alternatives. Key factors contributing to the market growth include advancements in treatment procedures, such as transurethral resection of the prostate (TURP), and rising healthcare expenditure capacities of individuals.

Key Takeaways:

  • The global BPH treatment market reached a value of $10.5 billion in 2020, with a forecasted growth rate of 5.6% from 2021 to 2026.
  • The market is driven by the increasing prevalence of urological disorders, rising geriatric population, and growing awareness among the masses regarding available treatment alternatives.
  • Key treatment alternatives for BPH include prescription drugs, active observation or surveillance, mono drug and combined therapies, phytotherapies, minimally invasive (MI) and invasive surgeries.
  • Advancements in treatment procedures, such as TURP, are acting as growth-inducing factors, with TURP being an endoscopic electrosurgical procedure that involves removing a portion of the prostate gland to reduce obstruction caused by abnormal growth.
  • Companies mentioned in the report include Abbott Laboratories, Allergan Plc (AbbVie Inc.), Asahi Kasei Corporation, Astellas Pharma Inc., Boehringer Ingelheim GmbH (C.H. Boehringer Sohn AG & Ko. KG), Boston Scientific Corporation, GlaxoSmithKline Plc, Pfizer Inc., Sanofi S.A., and Teva Pharmaceutical Industries Ltd.

Statistics:

  • The global BPH treatment market is forecasted to grow at a CAGR of 5.6% from 2021 to 2026.
  • The market reached a value of $10.5 billion in 2020, with a forecasted growth rate of 5.6% from 2021 to 2026.
  • The increasing prevalence of urological disorders is driving the market growth, with the prevalence rate expected to rise in the coming years.

Sources:

  • "Benign Prostatic Hyperplasia Treatment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026"
  • ResearchAndMarkets.com
  • M2 PRESSWIRE (December 6, 2021)
  • M2 COMMUNICATIONS (RDATE: 06122021)