Benign Prostatic Hyperplasia Surgical Devices Market Huge Growth in Future Scope 2021-2028 | Olympus Corporation, Boston Scientific Corporation, Medifocus Inc., KARL STORZ SE & Co. KG

The global benign prostatic hyperplasia surgical devices market
The global benign prostatic hyperplasia surgical devices market by product type (Resectoscopes, Radiofrequency Ablation Devices, Urology Lasers, Prostatic Stents, Implants, and Others), end user (Hospitals and Ambulatory Surgery Centers) and region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 375.9 million in 2016 and is projected to exhibit a CAGR of 7.5% over the forecast period (2017 – 2025).
The introduction of minimally invasive therapies such as implants, transurethral needle ablation (TUNA), and prostatic artery embolization (PAE) is expected to attract the majority of patients currently opting for drugs, boosting the growth of the global benign prostatic surgical devices market. In recent years, the lucrative benign prostatic surgical devices market has witnessed multiple mergers, acquisitions, and product launches, with companies ranging from leading medical device companies such as Boston Scientific Corporation, Olympus Corporation, and Medtronic plc to innovative startups such as ProArc Medical and NeoTract, Inc. involved. Urologix, Inc. and Medtronic plc signed a deal in 2011 in which Urologix, Inc. received the Prostiva license.

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Urologix is a firm that specializes in the treatment of benign prostatic hyperplasia. Urologix, Inc. did sell its assets to a private buyer in 2016 after defaulting on a debt owed to Medtronic Plc. In 2015, Boston Scientific Corporation purchased American Medical Systems' male urology portfolio, which had gained over US$ 100 million in the previous few years from devices for the therapies of benign prostatic hyperplasia. The company's portfolio included a number of BPH-related products, including popular laser systems like GreenLight XPS and GreenLight HPS laser therapy. In 2010, NoeTract, Inc. received CE approval for its UroLift Systems product, and in 2013, the U.S. FDA granted it a de novo 510(k) approval. Merit Medical Systems, Inc., a producer of disposable medical devices, received FDA approval for its Embosphere Microspheres product for benign prostatic hyperplasia in June 2017. Another implant company, ProArc Medical, is waiting for CE approval for its ClearRing product. NxThera, Inc., a manufacturer of radiofrequency devices for benign prostatic hyperplasia, announced in May 2017 that it’s RezÅ«m System were used to treat over 10,000 patients with the disease in the Europe and U.S.

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Key Takeaways of the Benign Prostatic Hyperplasia Surgical Devices Market:

The global benign prostatic hyperplasia surgical devices market is projected to expand at a CAGR of 7.5 percent between 2017 and 2025, owing to the development and adoption of minimally invasive therapies such as implants in developed economies such as the U.K., Germany and U.S. as well as enhanced adoption of the technology such as laser therapy in developing markets such as China, Brazil and India.

Ambulatory surgery clinics are likely to be the main goal for the person affecting from benign prostatic hyperplasia as less invasive treatments are developed that do not require patient to be hospitalization.

It is predicted that in North America, the acceptance rate of new goods such radiofrequency equipment, implants and others would continue to grow in the projected period (2017-2025).

In recent years, the market has seen a number of mergers and acquisitions, and this growth is projected to continue during the projected timeframe, as most companies developing innovative products like radiofrequency devices are small and will require marketing and production guidance in the coming years.

Key players

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

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