The benign prostatic hyperplasia market is expected to register a CAGR of nearly 8.5% during the forecast period. Benign prostatic hyperplasia (BPH) also known as benign prostatic hypertrophy is characterized by the unusual propagation of the prostatic cells, which causes difficulties, like urinary retention and infection of the urinary tract. It is most common among aging men. These are the reasons driving the market growth,
Benign prostatic hyperplasia (BPH) is being accepted as a growing health problem among elderly men. With the rising population of aged men, the degree of the problem is projected to rise multifold over the next few years.
As per a publication in the United States Census Bureau (2018), the population of people aged 65 and above in the United States is likely to increase drastically between 2016 and 2060. By 2030, one in five US citizens is expected to be 65 years and older, crossing 78.0 million, out of the total population.
The diseased population is also significantly rising in the emerging markets. The advancements in early diagnosis of the disease and geriatric population are driving the demand for products to cure benign prostatic hyperplasia.
Key Market Trends
Alpha-Blockers is Expected to Hold Largest Share of Global Benign Prostatic Hyperplasia Market, Over the forecast period
- Alpha-blockers help in relaxing the muscle of the prostate and the bladder neck, which allow urine to flow easier.
- Alpha-blockers work quickly and are usually the first line of treatment for men with mild to moderate symptoms. For instance, α1 blockers are recommended in the clinical guidelines for BPH in Japan, as first-line drug therapy for lower urinary tract symptoms (LUTS) associated with BPH.
- Moreover, for people with high blood pressure and BPH, alpha-blockers are the ideal treatment line for both the conditions.
- Owing to these factors, alpha-blockers accounted for the largest market share in the global benign prostatic hyperplasia market.
North America Region Holds the Largest Market Share of Benign Prostatic Hyperplasia Market
North America dominates the market owing to the high prevalence of BPH and other associated lower urinary tract symptoms. Several studies in past one era have reported a significant percentage of men in the US, aged between 45 and 80 years suffer from some type of lower urinary tract symptoms and most have some form of BPH symptoms.
In addition, several hospitals across the US, and Canada have collaboration with the non-profit organization and companies such as GlaxoSmithKline in some of the projects to raise awareness and adequate resources for the treatment of urological disorders. Also, the rising geriatric population is bolstering the growth of the market. Thus, North America is a very lucrative market for the companies contributing to a large share of this market.
Key players that are expected to be dominant in Benign Prostatic Hyperplasia market are Allergan PLC, Eli Lilly & Company, Boehringer Ingelheim, Merck & Co. Inc., and Astellas Pharma Inc. The companies are implementing certain strategic initiatives, such as a merger, new product launch, acquisition, and partnerships that help them in strengthening their market position.
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