The global benign prostatic hyperplasia drugs market to grow at a CAGR of 7.07% during the period 2017-2021.
The report, Global Benign Prostatic Hyperplasia Drugs Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the report, one driver in market is growing geriatric male population. The presence of a large population with BPH symptoms is expected to drive the market growth. The risk of BPH increases exponentially with the rise in the age of an individual. Approximately, 80% of men who reach 60 years and above have mild to strong symptoms of BPH. This disorder affects one in 38 individuals in the age group of 40-59 years; however, in the age group of 60-69 years, it affects one in 14 individuals. However, the chances of developing this disorder among the population of under 40 years are rare. This indicates that rising aging male population is directly proportional to the risk of BPH.
Currently, out of the total older population in the world, those aged above 65 years are the fastest-growing population group, accounting for 8.1% of the total population in 2014. This group is expected to reach 16% by 2050. This scenario is expected to drive the market growth.