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Navigating the Landscape of Benign Prostatic Hyperplasia Therapeutics: Trends, Influencers, and Regional Dynamics

11-28-2023 05:58 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Report Ocean

Navigating the Landscape of Benign Prostatic Hyperplasia

Introduction:

In 2021, the global benign prostatic hyperplasia (BPH) therapeutics market reached a valuation of US$ 5,999.6 million, a figure poised to ascend to US$ 9,392.50 million by 2030. This growth, with a compound annual growth rate (CAGR) of 5.3%, is attributed to several factors influencing the market dynamics.

Understanding Benign Prostatic Hyperplasia (BPH):

BPH, characterized by an enlargement of the prostate gland, predominantly affects men over the age of 50. The condition results in prostatic enlargement due to hyperplastic changes, causing the gland to press against the urethra. This leads to a spectrum of urinary symptoms, including difficulty initiating urination, weak urine streams, incomplete bladder emptying, and increased nocturnal urination.

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Key Drivers of Market Growth:

Prevalence Surge and Urological Disorders: The increasing prevalence of BPH and associated urological disorders is a primary driver. As men age, the prostate's natural enlargement becomes a common occurrence.

Awareness Initiatives: Governmental and non-profit organizations, along with major market players, are actively raising awareness about urological disorders, fostering market growth.

Minimally-Invasive Therapies Challenge: While BPH therapies are on the rise, the market faces challenges from the growing adoption of minimally-invasive surgical therapies, potentially impeding growth.

Impact of COVID-19:

The COVID-19 pandemic induced significant disruptions in the BPH therapeutics market. Hospitals worldwide restructured to accommodate COVID-19 patients, leading to backlogs in non-essential procedures. Lockdowns affected the production and transportation of essential medications, exacerbating the strain on healthcare systems.

Regional Dynamics:

North America Dominance: North America dominated the market in 2021, a trend expected to persist. Factors include the increasing prevalence of BPH, unhealthy lifestyles contributing to obesity, the presence of major industry players, and rising healthcare expenditures.

Asia-Pacific Growth: The Asia-Pacific region is anticipated to experience substantial growth. Factors such as a rising geriatric population, increased research and development activities, a surge in urological diseases, and higher healthcare investments contribute to the region's expanding healthcare sector.

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Leading Competitors:

The global BPH therapeutics market is shaped by prominent companies such as Abbott Laboratories, AbbVie, Astellas Pharma, Boehringer Ingelheim, Eli Lilly, GlaxoSmithKline, Merck & Co., Pfizer, Sanofi, and Teva Pharmaceutical Industries, among others.

Market Segmentation:

Based on Therapeutics Class:

Alpha-blockers
5-alpha-reductase inhibitors
Phosphodiesterase-5 inhibitors
Others
Based on Therapy:

Mono drug therapy
Combination drug therapy
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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Conclusion:

As the benign prostatic hyperplasia therapeutics market charts a course towards exponential growth, navigating through evolving trends, regional dynamics, and the competitive landscape becomes crucial. Awareness initiatives, technological advancements, and strategic collaborations will likely shape the future trajectory of BPH therapeutics, ensuring improved outcomes for patients globally.

About Report Ocean
Report Ocean is a leading provider of market research reports, committed to delivering both quantitative and qualitative research results. With a global network and comprehensive industry coverage, they offer in-depth knowledge, enabling strategic business decisions. Leveraging the latest technology, analysis tools, research models, and years of expertise, Report Ocean exceeds expectations in providing essential details and facts.

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Report Ocean:
Email: sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 - UNITED STATES
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Website: https://reportocean.us

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