Benign Prostatic Hyperplasia Procedures Market Trends, Business Strategies, Regional Outlook, Challenges and Analysis

The mushrooming population of geriatric people, on account of the falling birth rates and increasing life expectancy, is driving the demand for benign prostatic hyperplasia (BPH) procedures across the world. According to the United Nations Department of Economic and Social Affairs’ (UNDESA), the population of people aged 65 years or above will rise from 727 million in 2020 to more than 1.5 billion by 2050. Furthermore, the organization also estimates that the population of people aged 60 years or above will rise by 56.0%, that is, from 901 million to 1.4 billion from 2015 to 2030. 

The soaring population of older people in China, India, Germany, and the U.S. over the next few years is predicted to generate high requirement for BPH treatment devices, as the people aged 50 years or above are more vulnerable to BPH than the ones below this age bracket. As per the National Institute of Health, nearly 14 million American men had BPH symptoms. Moreover, the organization found that the disease can affect 50% of men falling in the age bracket of 51–60 years of age and as much as 90% of men aged above 80 years. 

Benign Prostatic Hyperplasia Procedures

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As a result, geriatric people tend to choose several treatment procedures that employ the use of prostate implants, laser-based therapies, and TURP. Besides, the growing public awareness about BPH diseases and advanced BPH treatment procedures is also fueling the popularity of these procedures, which is, in turn, causing the expansion of the BPH procedures market. Many BPH treatment procedures providing companies are launching campaigns for raising public awareness about prostate related diseases.  

For instance, a campaign named ‘#SeatsupforSanta’ was launched by GlaxoSmithKline plc in December 2016 for raising awareness about BPH treatments and symptoms. Due to these factors, the BPH procedures market is expected to advance at a CAGR of 2.3% from 2017 to 2023. Depending on type, the market is divided into laser-based procedures, surgical procedures, and various other energy-based procedures. Out of these, the laser-based procedures category is predicted to exhibit the highest CAGR in the market in the forthcoming years.  

This will be because of the soaring popularity of laser-based procedures, on account of their high effectiveness and the ability to reduce the hospitalization time period of patients. Across the globe, the European region dominated the BPH procedures market in 2016, as per the observations of P&S Intelligence, a market research company based in India. This was because of the presence of a large geriatric population, lower cost of BPH treatment procedures in the regional countries in comparison to that in the U.S., and high healthcare expenditure in the region. 

Hence, it can be said without any hesitation that the demand for BPH procedures will rise tremendously in the coming years, primarily because of the rising prevalence of BPH, surging population of geriatric people, and the growing public awareness about these procedures across the world.  

SOURCE: P&S Intelligence