Benign Prostatic Hyperplasia (BPH) Procedures industry Growth Opportunities – Global Market Demand Analysis and Forecast Up to 2023

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Summary

Benign Prostatic Hyperplasia (BPH) Procedures are expected to grow at a CAGR of 2.3% during 2017 – 2023, according to P&S Market Research

Press Release

The worldwide benign prostatic hyperplasia (BPH) market stood at 671,307 procedures performed in 2016, and it is projected to display a CAGR of 2.3% during the forecast period (2017–2023). The market is being driven by the increasing awareness about BPH owing to its rising prevalence, surging geriatric population, and popularity of minimally invasive surgeries. The enlargement of the prostate gland is termed as benign prostatic hyperplasia, which is an age-related condition, where men in the age group of 50–80 are affected.

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Another factor influencing the growth of the BPH procedures market is the rising awareness about BPH and related disorders. In North America, National Prostate Health Month is observed in September every year for creating awareness about prostate gland-related diseases and disorders. Many pharmaceutical companies are also initiating campaigns for educating the masses about diseases and their possible cures. For instance, to spread awareness about BPH symptoms and treatments, GlaxoSmithKline PLC launched a campaign, #SeatsupforSanta, in December 2016.

Therefore, the market for BPH procedures is slated to advance in the forecast period owing to the rising geriatric population that is resulting in increasing cases of prostate-related ailments, thereby driving the demand for BPH procedures.

Additionally, another example of technologically advanced BPH treatment devices include Dr Allen’s device for prostate care and ProVerum, which is used to restore function of the urethra in BPH to allow patients with this condition to urinate normally, relieving their symptoms while not interfering with sexual function. Dr Allen’s device uses thermobalancing therapy, which is different from other heating treatments as it does not regulate localized temperature.

Key players are in the process of introducing new advanced products for BPH treatment procedures. For instance, in May 2016, Olympus Corporation (Olympus), announced the launch of USFDA cleared Plasma-OvalButton, an addition to the company’s Plasma Loops and electrodes product portfolio that utilizes Olympus’ plasma technology for urologic procedures, including minimally invasive surgery to reduce benign prostate hyperplasia (BPH).

In March 2016, Lumenis Ltd. (Lumenis), announced the expansion of its comprehensive Urology portfolio with the launch of Lumenis Pulse 30H, at the European Association of Urology Congress, in Munich.

Some of the other key players operating in the global BPH procedures include NxThera, Inc., Boston Scientific Corporation, Urologix, LLC., Karl Storz GmbH & Co. KG, Lumenis Ltd., Olympus Corporation, Advin Urology, Convergent Laser Technologies, Richard Wolf GmbH, Medtronic Plc.