Benign Prostatic Hyperplasia Therapeutics Market Future Scenario, Growth rate, Segmentation, and Industrial Opportunities to 2031

The global benign prostatic hyperplasia therapeutics market size was US$ 5999.6 million in 2021. The global benign prostatic hyperplasia therapeutics market size is forecast to reach US$ 9,392.50 million by 2030, growing at a compound annual growth rate (CAGR) of 5.3% during the forecast period from 2022 to 2030.

Benign prostatic hyperplasia (BPH) is an enlargement of the prostate gland. Additionally, this condition is called benign prostatic hypertrophy or benign prostatic obstruction. Men over the age of 50 are most likely to suffer from it. BPH results in prostatic enlargement due to hyperplastic changes in prostate tissue.

As a man gets older, his prostate gets bigger. As the prostate gland grows, it presses against and pinches the urethra. The bladder lining thickens. The obstruction that results increases urinary outflow resistance and impairs movement of the detrusor muscles. It results in difficulty starting urination, weak urine streams, inability to empty the urinary bladder, and increased frequency of urination during the night.

Factors Influencing Market Growth

A few of the factors driving the growth of the BPH therapeutics market are the rise in the prevalence of benign prostatic hyperplasia and the rise in urological disorders associated with BPH.Government, non-profit organizations, and major players in the Benign Prostatic Hyperplasia Therapeutics market are raising awareness for various urological disorders including benign prostatic hyperplasia, which boosts the global market growth.

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Increasing adoption of minimally-invasive surgical therapies rather than BPH therapies may slow down the market growth.

Impact Analysis of COVID-19

The COVID-19 outbreak impacted the market for benign prostatic hyperplasia therapies. Many clinics and hospitals across the globe were restructuring to increase hospital capacity for COVID-19 patients.

Increasing COVID-19 cases put a potential backlog on non-essential procedures. Due to the lockdown, hospitals can't manufacture or transport essential medications. Moreover, a lack of medical care, a shortage of healthcare workers, and increased hospitalizations due to COVID-19 affect the market.

Regional Insights

North America held the majority of the global benign prostatic hyperplasia therapeutics market share in 2021 and is forecast to continue dominating during the forecast period. This is due to an increase in BPH prevalence, unhealthy lifestyles leading to obesity, the presence of major players, and rising healthcare expenditures.

Asia-Pacific is forecast to experience significant growth. A rising geriatric population, increasing R&D activities, an upswing in urological diseases, and an increase in healthcare investments in the region have resulted in the region's healthcare sector growing rapidly.

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Leading Competitors

The leading prominent companies profiled 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
Teva Pharmaceutical Industries Limited
Other Prominent Players

Scope of the Report

The global benign prostatic hyperplasia therapeutics market segmentation focuses on Therapeutics Class, Therapy, and Region.

Segmentation based on Therapeutics Class

Alpha-blockers
5- alpha-reductase inhibitors
Phosphodiesterase-5 inhibitors
Others

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Segmentation based on Therapy

Mono drug therapy
Combination drug therapy

Segmentation based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America

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