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Benign Prostatic Hyperplasia (BPH) Procedures Market Identifies the Key Drivers of Growth and Challenges of the Key Industry Players
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In terms of type, the BPH procedures is categorized into surgical procedures, laser based procedures and other energy based procedures. The surgical procedure accounted for the largest number of BPH procedures, contributing 58.3% in 2016. The number of laser based procedure is expected to register fastest growth during the forecast period. Laser based procedure are as effective as surgical procedures and reduce the hospital stay time.
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In North America, every year, September is observed as National Prostate Health Month by health experts, health advocates, and individuals concerned with the prostate health of men. The main purpose of designating a whole month for prostate health is to create awareness, educate people about the risk factors and symptoms of prostate related diseases and other factors. Several campaigns were launched by the players in the market to make people aware about the prostate related diseases. In December 2016, GlaxoSmithKline plc launched a campaign ‘#SeatsupforSanta’, to spread awareness about BPH symptoms and treatments. All the aforementioned initiatives lead to the growth in the number of patients opting for BPH treatment.
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The number of BPH procedures performed in North America in 2016 was 167,877 and it is expected to reach 194,253, growing at CAGR of 2.1% between 2017-2023. North American BPH procedures is expected to be driven by various factors such as the increasing prevalence of BPH due to the ageing of the U.S. and Canada population in general and the “baby boomers” in particular. Based on geography, the U.S. held the larger share of the North America BPH procedures, with 85.0% share in 2016, mainly attributable to factors such as high prevalence of BPH, along with the favourable reimbursement policies and trained surgeons in the country. Canada is expected to register the faster growth during the forecast period mainly due to presence of large number of public & private hospitals and clinics, that provide specialty care for various urological disease conditions and increasing adoption of laser based BPH procedures in the country.
Some of the key players operating in the 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, and Medtronic Plc.
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