Benign Prostatic Hyperplasia (BPH) Therapeutics Market Statistics - 2030
The global benign prostatic hyperplasia therapeutics market was valued at was valued at $5,697.70 million in 2020, and is estimated to reach $9,391.50 million by 2030, growing at a CAGR of 5.00% from 2021 to 2030. Benign prostatic hyperplasia (BPH) is a non-cancerous enlargement of the prostate gland. This condition is also known as benign prostatic hypertrophy or benign prostatic obstruction. It is one of the most common conditions in men over the age of 50. BPH symptoms are caused by the hyperplastic changes in the prostate tissue, which results in the prostatic enlargement.
As a man gets older, it leads to increase in the size of prostate. The prostate gland presses against and pinches the urethra as it grows larger. The lining of the bladder thickens. The obstruction that results increases urinary outflow resistance and impairs detrusor muscle response. This condition results in problems to start urination, weak urine stream, inability to empty the urinary bladder, and enhanced urine frequency usually at night.
BPH therapeutics such as alpha blockers, 5-alpha reductase inhibitors, and phosphodiesterase-5 inhibitors are used to alleviate BHP symptoms, these medications relax the smooth bladder muscles or shrink the abnormal prostate growth. The relaxation of bladder muscles loosens the prostate's grip on the urethra, allowing urine to flow more freely. Whereas prostate shrinkage reduces the pressure exerted by the prostate on the urethra, resulting in free flow of urine.
The growth of the BPH therapeutics market is majorly driven due to rise in prevalence of benign prostatic hyperplasia, rising global male geriatric population rise in urological disorders associated with BPH. In addition, rise in intra-abdominal pressure, changed endocrine status, enhanced sympathetic nerve activity, an increased inflammatory response, and oxidative stress are all factors that contribute to the development of BPH in obese people. The hormonal changes in body also cause prostate enlargement leading to BPH. Thus, this drives the growth of the benign prostatic hyperplasia therapeutics market.
Furthermore, increase in various initiatives by the government, non-profit organizations, key players of the Benign Prostatic Hyperplasia Therapeutics market to create awareness for various urological disorders including benign prostatic hyperplasia play a pivotal role in increasing awareness and thus, further boost the market growth.
Moreover, expiration of patency of major branded products has led to the development of various generic drugs, collaboration among the key players for development of new BPH therapeutics for better drug efficacy and safe therapy for already existing drugs as well as upcoming new molecular entities, which further drives the growth of the market. Considerable rise in healthcare expenditure worldwide has further fueled the market. The major factors that are responsible for the increase in healthcare expenditure are rise in population, especially geriatric and increased medical service utilization. However, higher adoption rate of minimally-invasive surgical therapies instead of BPH therapeutics is expected to impede the market growth.
In addition, the COVID-19 outbreak is anticipated to have a negative impact on the benign prostatic hyperplasia therapeutics market. A huge number of clinics and hospitals across the globe were restructured to increase the hospital capacity for patients diagnosed with COVID-19. The non-essential procedures took a potential backlog due to rapidly rising COVID-19 cases. The lockdown led to the disruption of manufacturing and transportation of healthcare essentials. Furthermore, other factors responsible for the impact on the market include limited availability of medical care, shortage of healthcare staff and rise in burden of COVID-19 related hospitalization. However, as the vaccinations for COVID-19 are available various governments are working to ensure undisrupted supply of life saving drugs and vaccines. Thus, this is expected to lead to a stabilization in the market overtime.
Conversely, research studies and activities, including clinical trials for the efficacy and safety, for the treatment of BPH by various researchers, companies, and government boosted the benign prostatic hyperplasia therapeutics market.
Furthermore, untapped, emerging markets are expected to offer potential growth opportunities, due to improved healthcare infrastructure, increase in unmet healthcare needs, and rise in R&D activities. In addition, various technological advancements in drug delivery is an emerging opportunity for key players to invest in the benign prostatic hyperplasia therapeutics market.
By Therapeutic Class
Alpha Blockers holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.
Benign Prostatic Hyperplasia Therapeutics Market Segmentation
The global benign prostatic hyperplasia therapeutics market is segmented into therapeutic class, therapy, and region. On the basis of therapeutic class, the market is categorized into alpha blocker, 5-alpha reductase inhibitor, phosphodiesterase-5 inhibitor, and others.
By therapy, the market is bifurcated into mono drug therapy and combination drug therapy
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
By Therapy
Mono Drug Therapy segment is projected as one of the most lucrative segment.
Segment Review
Depending on the therapeutic class, the alpha blockers segment dominated the market in 2020, and is expected to continue this trend during the forecast period.
By therapy type, the mono drug therapy segment exhibited the highest growth in 2020, and is expected to continue this trend during the forecast period.
North America accounted for a majority of the global benign prostatic hyperplasia therapeutics market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to increase in prevalence of BPH, unhealthy lifestyle leading to obesity, presence of key players, and rise healthcare expenditure in the region. However, Asia-Pacific is anticipated to witness notable growth, owing to increase in geriatric population, rise in R&D activities, surge in urological diseases, unmet medical demands, and increase in investments in the healthcare sector in the region.
The key players operating in the global benign prostatic hyperplasia therapeutics market are Abbott Laboratories, AbbVie (Allergan Plc), Astellas Pharma Inc., Boehringer Ingelheim Pharma GmbH & Co. KG, Eli Lilly and Company, GlaxoSmithKline plc., Merck & Co., Inc. (Merck Sharp & Dohme Corp), Pfizer Inc., Sanofi and Teva Pharmaceutical Industries Limited.
By Region
Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 6.80% during the forecast period.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the benign prostatic hyperplasia therapeutics market, and the current trends and future estimations to elucidate the imminent investment pockets.
- It presents a quantitative analysis of the market from 2021 to 2030 to enable stakeholders to capitalize on the prevailing market opportunities.
- Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
- Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.
Benign Prostatic Hyperplasia Therapeutics Market Report Highlights
| Aspects | Details |
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Analyst Review
This section provides the opinions of the top level CXOs in the global benign prostatic hyperplasia therapeutics market. According to the insights of CXOs, benign prostatic hyperplasia (BPH) is characterized by enlargement of the prostate gland. This, in turn, occurs owing to proliferation of the cellular elements of the prostate leading to urinary hesitation, trouble starting to urinate and disease progression is associated with bladder outflow obstruction. Several benign prostatic hyperplasia treatment options are developed, among which benign prostatic therapeutics are employed to treat mild to severe benign prostatic hyperplasia conditions. These medications include alpha blockers, 5-alpha reductase inhibitors, phosphodiesterase-5 inhibitors, and others.
As per the CXOs, the escalating number of benign prostatic hyperplasia patients is the major factor that drives the growth of the global benign prostatic hyperplasia therapeutic market. Relevant factors, such as increase in geriatric population across the globe and rise in awareness related to urological disorders, are expected to have a significant impact on the growth of the market. However, patients have been increasingly adopting minimally-invasive surgical therapies than BPH therapeutics, which is anticipated to impede the market growth.
The market gains interest of healthcare companies, owing to surge in R&D and increase in focus in adoption of benign prostatic hyperplasia therapeutics for safe and effective therapy.
North America is expected to witness highest growth, in terms of revenue, owing to rapidly growing geriatric population, high prevalence and awareness among public related to benign prostatic hyperplasia, robust R&D infrastructure for life science researches, presence of key players, and advancements in healthcare investments. Europe was the second largest contributor to the market in 2020, due to the continuous government support for pharmaceutical and biotechnology R&D, increase in public–private investments, and rise in number of research activities in the healthcare sector for improved and efficient drug delivery. In addition, abundance of pipeline products for treatment of benign prostatic hyperplasia is anticipated to drive the market growth.
The total market value of benign prostatic hyperplasia therapeutics market is $5697.70 million in 2020.
The forecast period for benign prostatic hyperplasia therapeutics market is 2021 to 2030
The market value of benign prostatic hyperplasia therapeutics market in 2021 is $6032.10 million.
The base year is 2020 in benign prostatic hyperplasia therapeutics market
Top companies such as Abbott Laboratories, AbbVie (Allergan Plc), Astellas Pharma Inc., Boehringer Ingelheim Pharma GmbH & Co. KG, Eli Lilly and Company, GlaxoSmithKline plc., Merck & Co., Inc. (Merck Sharp & Dohme Corp), Pfizer Inc., Sanofi and Teva Pharmaceutical Industries Limited held a high market position in 2020.
Alpha blockers segment dominated the global market in 2020, and expected to continue this trend throughout the forecast period due to their rapid effects, surge in male geriatric population and further advancements in development of novel solutions is expected to drive the segment
Increase in prevalence of benign prostate hyperplasia, rise in male geriatric population and various products undergoing clinical trials is anticipated to drive the market in the forecast period.
North America is projected to account for a major share of the global benign prostatic hyperplasia therapeutics market during the forecast period. U.S. dominated the North America benign prostatic hyperplasia therapeutics market owing to increased urological disease awareness and rise in BPH across the country.
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