(EMAILWIRE.COM, November 26, 2021 ) According to the new market research report "Benign Prostatic Hyperplasia Treatment Market by Type [Drug (Alpha Blockers(Tamsulosin, Doxazosin), 5-Alpha Reductase Inhibitors (Finasteride, Dutasteride), Surgical Treatment (TURP, TUMT, TUNA], End User (Hospitals) - Global Forecast to 2026", published by MarketsandMarkets™, the Global BPH Treatment Market is projected to reach USD 14.1 billion by 2026 from USD 10.8 billion in 2021, at a CAGR of 5.3% from 2021 to 2026.

The presence of a large geriatric and target patient population and the improving healthcare infrastructure in several APAC countries are expected to offer growth opportunities in the benign prostatic hyperplasia treatment market during the forecast period.

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Market Dynamics
DRIVER:Increasing prevalence of benign prostatic hyperplasia
BPH refers to the nonmalignant growth of prostate tissue and is a frequent cause of lower urinary tract symptoms among men. BPH is considered a normal part of male aging and is hormonally dependent on testosterone and dihydrotestosterone (DHT) production. Approximately 50% of men demonstrate histopathologic BPH by 60 years and 90% by 85 years.
Approximately 30 million men worldwide and 14 million men in the US are said to have BPH symptoms. (Source: WebMD LLC.).

Data from the Health Insurance Review and Assessment (HIRA) agency in 2018 revealed that nearly 7,600,000 patients were diagnosed with BPH in 2010, which increased by ~1.2 million in 2017. This represents an annual increase of about 7% and a total increase of 58% from 2010.

OPPORTUNITY: Promising Product Pipeline
The BPH treatment market offers considerable growth opportunities to manufacturers of generics. The patents of most medications for BPH treatment such as Avodart, Cialis, and Jalyn have expired, which has paved the way for generics. Besides, demand has also risen for more effective treatment options, resulting in a strong pipeline of products in the BPH market.

Studies reveal that price of a generic version of an alpha blocker is as low as USD 8 or less for a month’s supply, compared to nearly USD 100 per month for a branded product. While the lower price may affect overall revenue generated in the short term, it also translates into a far higher level of access that may lead to increased sales volumes overall.

North America commanded the largest share of the benign prostatic hyperplasia treatment market in 2021.
On the basis of region, the benign prostatic hyperplasia treatment market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. In 2019, North America commanded the largest share of the benign prostatic hyperplasia treatment market. The large share of this market segment can be attributed to the rising geriatric and obese population and the availability of research funding are the major factors driving the market growth. Initiatives by key players are also expected to contribute to the market.

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Key Market Players

The major players operating in this market are Boston Scientific Corporation (US), Coloplast Group (Denmark), Teleflex Incorporated (US), Olympus Corporation (Japan), GlaxoSmithKline PLC (UK), Eli Lilly (US), Pfizer, Inc. (US), Abbott (US), Asahi Kasei Corporation (Japan), Merck & Co., Inc. (US), Astellas Pharma Inc. (Japan), Allergan plc (Ireland), Alembic (India), IPG Photonics Corporation (US), Richard Wolf GmbH (Germany), Unilab, Inc. (Philippines), Pharex Health Corporation (Philippines), Biolitec AG (Austria), Urologix, LLC (US), Advin Health Care (India), Medifocus, Inc. (Canada)