The global benign prostatic hyperplasia (BPH) devices market is expected to observe an absolute growth of over 242% during the forecast period.
CHICAGO, ILLINOIS, UNITED STATES, December 14, 2020 /EINPresswire.com/ — The global benign prostatic hyperplasia (BPH) devices market is expected to grow at a CAGR of over 22% during the period 2019−2025.
Key Highlights Offered in the Report:
1. The growing prevalence of BPH coupled with increasing elderly population will result in an incremental growth of more than USD 1.5 billion during the forecast period.
2. North America and Europe are expected to grow faster than the global market CAGR, due to high penetration minimally invasive surgical procedures for treating BPH.
3. The US is likely to witness the highest incremental growth of around USD 1 billion and is expected to grow at significant rate during the forecast period.
4. Increasing patients’ interest to undergo MI surgeries in specialty clinics will result in the domination of specialty urology clinics with around 48% share in 2025 compared to other end-user segments.
5. Vendors need to strategically focus on the development and commercial launches of advanced BPH treatment devices that can be used in in-office settings to penetrate and tap the huge growth potential prevailing in the market.
• Market Size & Forecast by Revenue | 2019−2025
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by procedure, end-users, and geography
• Competitive Landscape – 5 key vendors and 14 other vendors
Benign Prostatic Hyperplasia (BPH) Devices Market – Segmentation
• The PUL technology segment is growing due to the increasing patient population and the growing adoption of advanced minimally invasive treatment. PUL is an advanced minimally invasive procedure for the treatment of BPH with less complications.
• In 2019, the hospital end-user was the largest segment in the global benign prostatic hyperplasia devices market. However, the segment is likely to witness the slowest growth during the forecast period due to the change in patients’ preference in terms of treatment.
• The introduction of ASCs has lowered the rate of out-patient urologic surgeries performed in expensive hospital settings. The volume of outpatient surgeries has increased dramatically over the past three decades due to advances in medical technology and payment incentives.
Benign Prostatic Hyperplasia (BPH) Devices Market by Procedure
• Laser Therapy
Benign Prostatic Hyperplasia (BPH) Devices Market by End-user
• Specialty Urology Centers
• Ambulatory Surgery Centers (ASC)
Benign Prostatic Hyperplasia (BPH) Devices Market – Dynamics
The prevalence of BPH among the elderly men population is high globally. To overcome this high prevalence, vendors are upcoming with technologically advanced treatment and various devices to treat this high prevalence of BPH. Medication is the primary line of treatment preferred by many patients, but around 45 to 60% of patients tend to drop medication and opt for advanced therapy to get relief from lower urinary tract symptoms (LUTS) and other complications immediately. There are a number of treatments for the BPH condition that aim to eliminate or reduce swollen prostate tissues. One of the new, minimally invasive procedure urologists are advising to opt for is called UroLift. It is a Teleflex product that enables treatment in outpatient centers right in the doctor’s office.
Key Drivers and Trends fueling Market Growth:
• Increasing Demand for In-Office BPH Treatment
• Popularity of Robotic-Assistance Surgical Techniques
• Increasing Patient Population
• Growing Demand for Minimally Invasive Treatment
Benign Prostatic Hyperplasia (BPH) Devices Market – Geography
North America has many major BPH device manufacturers who focus on the innovative launch of new BPH treatment devices that improves the quality of care. In addition, there is a high penetration of laser therapy due to the availability of sophisticated healthcare infrastructure. Many clinics and urology centers have laser equipment that is used to treat the patient population, which boosts the BPH devices market in the region. Though the high cost of BPH devices can affect the market adversely, the presence of reimbursement coverage for both invasive and MI treatment options will have a positive impact on the growth of the market.
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Benign Prostatic Hyperplasia (BPH) Devices Market by Geography
• North America
o South Korea
• Latin America
o South Africa
• KARL STORZ
• Boston Scientific
• Richard Wolf
• Urotech Devices
• PROCEPT BioRobotics
• Pnn Medical
• MEDpro Medical
• Allium Medical
• SRS Medical
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