Navigating the Benign Prostatic Hyperplasia Therapeutics Market 2023: Trends and Opportunities

Allied Market Research has published a study report with the title Benign Prostatic Hyperplasia Therapeutics Market Size was Valued at USD 5.69 billion in 2020, and is Projected to Garner USD 9.39 billion by 2030, registering a CAGR of 5.0% from 2021 to 2030.

Benign prostatic hyperplasia (BPH) is a noncancerous condition where the prostate gland grows larger, causing compression of the urethra and obstructing the flow of urine. It is a common condition in aging men and can cause a range of symptoms, including difficulty urinating, frequent urination, and urinary tract infections. Benign prostatic hyperplasia (BPH) therapeutics refer to the medical treatments used to manage the symptoms of an enlarged prostate gland.

BPH therapeutics may include medications such as alpha blockers, 5-alpha reductase inhibitors, and combination therapies, as well as minimally invasive and surgical procedures such as transurethral resection of the prostate (TURP) or laser therapy. The goal of BPH therapeutics is to improve urinary symptoms, prevent complications such as urinary tract infections, and improve overall quality of life for patients.

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Covid-19 Scenario

• A large number of hospitals across the globe restructured their staff to raise the capacity for patients diagnosed with Covid-19. This led to postponement of non-elective procedures including benign prostatic hyperplasia.
• The manufacturing activities of benign prostatic hyperplasia therapeutics and transportation of raw materials were disrupted due to lockdown. This impacted the overall revenue of the market

What Are the Market Drivers for Benign Prostatic Hyperplasia Therapeutics?

There are several market drivers for benign prostatic hyperplasia (BPH) therapeutics, including:

• Increasing prevalence of BPH: The incidence and prevalence of BPH increase with age, and the aging population is expected to drive the demand for BPH therapeutics. As the global population continues to grow and age, the number of men with BPH is expected to increase, leading to a greater demand for treatment options.
• Technological advancements in drug development: There has been significant progress in the development of drugs for the treatment of BPH. The availability of new and improved drug formulations, including combination therapies, has expanded the treatment options available to patients.
• Growing awareness and education: With growing awareness about the symptoms and treatment options for BPH, patients are more likely to seek medical attention and receive appropriate treatment. This increased awareness has also led to greater investment in research and development for BPH therapeutics.
• Rising healthcare expenditure: As healthcare expenditure continues to increase, governments and private entities are investing more in the development of new and effective therapeutics for BPH. This has resulted in an increase in the number of drugs available in the market.
• Increasing demand for minimally invasive treatments: Patients are increasingly seeking minimally invasive treatments for BPH, which has led to the development of novel techniques and technologies, such as laser therapy and transurethral resection of the prostate (TURP). This has expanded the range of treatment options available to patients.

𝐓𝐨𝐩 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐨𝐟 𝐁𝐞𝐧𝐢𝐠𝐧 𝐏𝐫𝐨𝐬𝐭𝐚𝐭𝐢𝐜 𝐇𝐲𝐩𝐞𝐫𝐩𝐥𝐚𝐬𝐢𝐚 𝐓𝐡𝐞𝐫𝐚𝐩𝐞𝐮𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭

• 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
• Teva Pharmaceutical Industries Limited

𝐁𝐞𝐧𝐢𝐠𝐧 𝐏𝐫𝐨𝐬𝐭𝐚𝐭𝐢𝐜 𝐇𝐲𝐩𝐞𝐫𝐩𝐥𝐚𝐬𝐢𝐚 𝐓𝐡𝐞𝐫𝐚𝐩𝐞𝐮𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧

The market for therapeutics for Benign Prostatic Hyperplasia (BPH) can be segmented on the basis of drug class, distribution channel, and region.

By Drug class:

• Alpha Blockers
• 5-Alpha Reductase Inhibitors
• Phosphodiesterase-5 Inhibitors
• Others (including combination drugs)

By Distribution channel:

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Based on region, North America held the largest market share in 2020, accounting for more than two-fifths of the global benign prostatic hyperplasia therapeutics market, and is expected to maintain its dominance by 2030. This is due to increase in benign prostatic hyperplasia cases, robust R&D infrastructure for life science research, surge in adoption of advanced technologies, improved therapeutics, and presence of key players. However, Asia-Pacific is estimated to witness the fastest CAGR of 6.8% from 2021 to 2030, owing to continuous government support for R&D activities for pharmaceutical and biotechnology, increase in public-private investments, and rise in the number of initiatives for urological disorder awareness.

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Our Market Research Solution Provides You Answer to Below Mentioned Question:

• Which are the driving factors responsible for the growth of market?
• Which are the roadblock factors of this market?
• What are the new opportunities, by which market will grow in coming years?
• What are the trends of this market?
• Which are main factors responsible for new product launch?
• How big is the global & regional market in terms of revenue, sales and production?
• How far will the market grow in forecast period in terms of revenue, sales and production?
• Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
• How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
• Which region has more opportunities?

By Region Outlook

• North America
(U.S., Canada, Mexico)
• Europe
(Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia-Pacific
(Japan, China, India, Rest of Asia-Pacific)
• LAMEA
(Brazil, Saudi Arabia, South Africa, Rest of LAMEA)

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