PORTLAND, Oregon and PUNE, India, July 12, 2018 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, "Benign Prostatic Hyperplasia Therapeutics Market, by Therapeutics Class and Therapy: Global Opportunity Analysis and Industry Forecast, 2018-2025," the market was valued at $10,689 million in 2017, and is projected to reach $20,097 million in 2025, registering a CAGR of 8.1% from 2018 to 2025.
Benign prostatic hyperplasia (BPH) is a medical condition in which a male's prostate gland size increases abnormally. This condition results in problems to start urination, weak urine stream, inability to empty the urinary bladder, and enhanced urine frequency usually at night. BPH therapeutics are drugs categorized into three different classes namely, alpha blocker, 5-alpha reductase inhibitor, and phosphodiesterase-5 inhibitor. These drugs relax the smooth bladder muscles or shrink the abnormal prostate growth to alleviate the BHP symptoms. The relaxation of the muscles of the bladder loosens the prostate's grip on the urethra facilitating urine to flow more freely. Whereas, the shrinkage of the size of the prostate reduces the pressure exerted by the prostate on the urethra, resulting in free flow of urine.
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Increasing prevalence of benign prostatic hyperplasia, rising global geriatric population, and soaring awareness related to urological disorders and prostate cancer across the world are the factors that drive the global benign prostatic hyperplasia therapeutics market growth. However, higher adoption rate of minimally-invasive surgical therapies instead of BPH therapeutics is expected to impede the market growth. Conversely, high market potential in the untapped emerging economies and presence of several pipeline products are expected to provide many opportunities during the forecast period.
The utilization rate of alpha blockers is high, owing to high availability of these products characterized by a higher success rate and lesser side effects. However, the 5-alpha reductase inhibitor segment is expected to grow at a high CAGR during the forecast period.
The mono drug therapy segment is the largest segment in the global benign prostatic hyperplasia therapeutics market, expanding at a moderate CAGR during the forecast period. On the other hand, the combination drug therapy segment is anticipated to record a high CAGR during the forecast period.
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Key findings of the study
- The phosphodiesterase-5 inhibitor segment accounted for nearly one-sixth share of the global benign prostatic hyperplasia therapeutics market in 2017.
- The mono drug therapy segment is expected to grow at a CAGR of 7.6% from 2018 to 2025.
- Europe accounted for around one-third share of the global market in 2017.
- LAMEA is expected to provide lucrative market growth opportunities and grow at a CAGR of 9.6% from 2018 to 2025.
North America was the leading revenue contributor to the global benign prostatic hyperplasia therapeutics market in 2017, and is expected to dominate the market during the forecast period. This is attributed to the early approval of BPH drugs and high adoption of drugs in this region. However, Asia-Pacific is expected to grow at the highest CAGR during the forecast period, owing to increase in affordability, surge in healthcare expenditure, and rise in awareness towards safe BPH drugs.
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SOURCE Allied Market Research