Benign Prostatic Hyperplasia Surgical Devices Market Revenue Opportunities, Growth Factors by Olympus Corporation, Boston Scientific Corporation, Medifocus Inc.

Benign prostatic hyperplasia (BPH) is a medical condition, which is characterized by non-cancerous enlargement of prostate and it generally affects men aged more than 50 years. According to the study published in The Lancet in 2015, more than 100 million people were suffering from benign prostatic hyperplasia (BPH) globally. Drugs such as Alpha- blockers and 5α-Reductase inhibitors (5ARIs), surgery such as transurethral resection of the prostate (TURP), and minimally invasive surgeries such as implants, radiofrequency ablation, and lasers are the primary treatment options available for the disease. As surgery and minimally invasive therapy offers permanent solution, the benign prostatic surgical devices market is expected to grow significantly during the forecast period.

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Market Dynamics

Increasing demand for minimally invasive therapy such as implants, prostatic stents and laser therapy are expected to be primary driving force for this market. Although implant has entered very late in benign prostatic hyperplasia market, its demand is increasing. NeoTract, Inc. received the approval for first implant for benign prostatic hyperplasia in 2010 and 2013 in Europe and U.S. respectively. This huge transaction value underlines the market opportunity for such products in developed economies such as the U.S. and European economies in short-term period and globally in long-term period. Other novel treatment options such as prostatic artery embolization (PAE) has also gained traction in recent years and its application for benign prostatic hyperplasia treatment is expected to get streamlined in near future. The introduction of novel treatments options such as PAE is expected to lead to further growth in the market.

Benign prostatic hyperplasia is the most common prostate problem in men aged 50 years and above and the occurrence of the same tends to increase with age. According to the U.S. Census Bureau, 2015, among 7.3 billion people worldwide, an estimated 617.1 million people were aged 65 years and older and the number of geriatric population is expected to increase above 60% by year 2030 indicating the potential population base associated with lower urinary tract symptoms (LUTS) resulting due to benign prostatic hyperplasia.

Some major players operating in the benign prostatic hyperplasia surgical devices market are Olympus Corporation, Boston Scientific Corporation, Medifocus Inc., KARL STORZ SE & Co. KG, NxThera, Inc., ProArc Medical, Lisa Laser Products OHG, and Richard Wolf Gmbh.

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