Benign Prostatic Hyperplasia Treatment Devices Market to Grow with a CAGR of 4.58% through 2028
Increasing aging population and rising
healthcare expenditure are factors driving the Global Benign Prostatic
Hyperplasia Treatment Devices Market in the forecast period 2024-2028.
According to TechSci Research report, “Benign
Prostatic Hyperplasia Treatment Devices Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Benign
Prostatic Hyperplasia Treatment Devices Market stood at USD 11.09 Billion in
2022 and is anticipated to grow with a CAGR of 4.58% in the forecast period,
2024-2028. Benign Prostatic
Hyperplasia (BPH) is a common medical condition affecting older men,
characterized by the enlargement of the prostate gland, which can lead to
various urinary symptoms. As the global population continues to age, the
prevalence of BPH is on the rise, and this has led to the growth of the global
BPH treatment devices market.
One
of the primary market drivers for BPH treatment devices is the aging global
population. As people grow older, the risk of developing BPH increases
significantly. With an increasing life expectancy in many parts of the world,
the number of men diagnosed with BPH is on the rise. This demographic shift
directly correlates with the demand for BPH treatment devices, as a larger
patient pool seeks relief from urinary symptoms associated with the condition.
Browse over XX market data Figures spread
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Prostatic Hyperplasia Treatment Devices Market.”
Advancements in medical technology have
revolutionized the way BPH is diagnosed and treated. Innovative treatment
options such as minimally invasive procedures, laser therapy, and robotic-assisted
surgery have become more widely available. These technologies offer reduced
risks, shorter recovery times, and improved patient outcomes. As a result,
healthcare providers and patients are increasingly adopting these newer BPH
treatment devices, contributing to market growth. Increased awareness of BPH
and its treatment options among both patients and healthcare professionals has
significantly contributed to market expansion. Men are becoming more proactive
about their health, seeking medical advice when experiencing BPH symptoms, and
exploring various treatment alternatives. Moreover, healthcare providers are
better equipped to diagnose BPH earlier, leading to prompt intervention and a
growing market for BPH treatment devices.
Healthcare expenditure, especially in
developed economies, continues to grow. Governments, private insurers, and
individuals are investing more in healthcare services. This increase in
healthcare spending enables the adoption of advanced medical equipment and
therapies, including BPH treatment devices. Patients are more willing to
explore comprehensive treatment options due to improved financial access. Collaborations
and partnerships between medical device manufacturers, pharmaceutical
companies, and healthcare providers have driven innovation in BPH treatment.
These partnerships facilitate the development and distribution of more
effective and efficient BPH treatment devices. They also expand the global
reach of these devices, reaching patients in various regions of the world.
The Global Benign Prostatic Hyperplasia Treatment
Devices Market is segmented into treatment, procedure, product, end use and
company.
Based on end use, the Hospitals & Clinics segment
has emerged as the predominant market leader. Hospitals and clinics offer comprehensive diagnostic
facilities, making it easier to accurately identify BPH. Advanced imaging
technologies, such as ultrasound, magnetic resonance imaging (MRI), and
uroflowmetry, allow healthcare professionals to assess the extent of prostate
enlargement and any complications. Early and accurate diagnosis is crucial for
developing a tailored treatment plan.
Hospitals
and clinics provide a multidisciplinary approach to BPH treatment. Urologists,
radiologists, and other specialists collaborate to determine the most
appropriate treatment, which may include medication, minimally invasive
procedures, or surgery. This coordinated approach ensures that patients receive
the best possible care.
Based on region, North America segment is expected to
grow during the forecast period.
North
America has well-established regulatory bodies like the FDA (Food and Drug
Administration) and Health Canada, which ensure the safety and efficacy of
medical devices. This stringent regulatory framework enhances the trust and
confidence of both healthcare providers and patients, fostering a robust market
for BPH treatment devices. The presence of
comprehensive healthcare insurance and reimbursement policies in North America
has further fueled the adoption of BPH treatment devices. Patients are more
likely to seek treatment when they have access to insurance coverage, reducing
the financial burden on individuals.
The Asia Pacific region is experiencing rapid market
growth. Asia Pacific has invested significantly in patient education and
awareness programs regarding BPH and its available treatment options. This has
empowered patients to make informed decisions about their healthcare, leading
to increased demand for BPH treatment devices.
Major companies operating in Global Benign
Prostatic Hyperplasia Treatment Devices Market are:
- Boston Scientific Corporation
- Olympus America
- Endo Pharmaceuticals Inc.
- biolitec AG
- Medifocus Inc.
- Cook Medical
- Teleflex Incorporated
- Urotronic
- Coloplast Corp
- Richard Wolf GmbH
- PROCEPT BioRobotics
Corporation
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“The global benign prostatic hyperplasia treatment
devices market is witnessing steady growth due to a combination of demographic,
technological, and socio-economic factors. With an aging population,
technological advancements, increased awareness, and expanding emerging
markets, the demand for benign prostatic hyperplasia treatment devices is
expected to continue its upward trajectory. This sector plays a crucial role in
improving the quality of life for countless men suffering from benign prostatic
hyperplasia, and as such, it will remain a focus of innovation and investment
in the healthcare industry for years to come.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Benign Prostatic Hyperplasia Treatment Devices
Market By Treatment
(Minimal Invasive Surgery, Invasive Surgery), By Procedure (Transurethral
Resection of the Prostate, Prostate Laser Surgery, Transurethral Microwave
Thermotherapy, Transurethral Needle Ablation of the Prostate, Prostatic
Urethral Lift, Water Vapor Therapy, Others), By Product (Resectoscopes, Urology Laser, Radiofrequency Ablation,
Electrodes, Catheters, Prostatic Stents, Implants, Others), By End use
(Hospitals & Clinics, Research and Manufacturing, others), By
Region, By Competition Forecast
& Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
Benign Prostatic Hyperplasia Treatment Devices Market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Benign Prostatic Hyperplasia Treatment Devices Market.
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