Benign Prostatic Hyperplasia Therapeutics Market to Reach $9.39 Bn, Globally, by 2030 at 5.0% CAGR: Allied Market Research

Increase in prevalence of benign prostatic hyperplasia, rise in awareness toward urological disorders, and surge in healthcare expenditure worldwide drive the growth of the global benign prostatic hyperplasia therapeutics market

PORTLAND, Ore., Feb. 22, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Benign Prostatic Hyperplasia Therapeutics Market by Therapeutics Class (Alpha Blocker, 5-Alpha Reductase Inhibitor, Phosphodiesterase-5 Inhibitor, and Others) and Therapy Type (Mono Drug Therapy and Combination Drug Therapy): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global benign prostatic hyperplasia therapeutics industry generated $5.69 billion in 2020, and is expected to reach $9.39 billion by 2030, witnessing a CAGR of 5.0% from 2021 to 2030.

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Drivers, Restraints, and Opportunities

Increase in prevalence of benign prostatic hyperplasia, rise in awareness toward urological disorders, and surge in healthcare expenditure worldwide drive the growth of the global benign prostatic hyperplasia therapeutics market. However, preference for minimally invasive surgical therapies restrains the market growth. On the other hand, huge number of products in the pipeline and opportunities in untapped geographies create new opportunities in the coming years. 

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.

The alpha blockers segment to maintain its lead position during the forecast period

Based on therapeutic class, the alpha blockers segment contributed to the largest share in 2020, holding nearly three-fifths of the global benign prostatic hyperplasia therapeutics market, and is projected to maintain its lead position during the forecast period. This is due to rise in availability of various branded as well as generic drugs for treatment. However, the 5-alpha reductase inhibitors segment is estimated to manifest the highest CAGR of 6.5% from 2021 to 2030, owing to rapid suppression of dihydrotestosterone (DHT) that affects tissue growth in the prostate.

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The mono drug therapy segment to maintain its lead in terms of revenue during the forecast period

Based on therapy, the mono drug therapy segment accounted for the highest share in 2020, contributing to more than three-fourths of the global benign prostatic hyperplasia therapeutics market, and is estimated to maintain its lead in terms of revenue during the forecast period. This is attributed to increase in the number of BPH cases globally and availability of various mono drugs. However, the combination drug therapy segment is expected to witness the largest CAGR of 6.2% from 2021 to 2030. This is due to approval of combination therapy and various under-trial studies.

North America to maintain its dominance by 2030

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.

Leading Market Players

• 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

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