The global benign prostatic hyperplasia (BPH) devices market size to cross USD 800 million by 2020, growing at a CAGR of over 22% during the forecast period. The BPH devices market is expected to observe an absolute growth of over 242% during the forecast period. The growing number of elderly men population is a primary factor responsible for influencing the BPH devices market growth.
Benign prostatic hyperplasia is one of the most common diseases in men, which generally develops after the age of 40 years, with a prevalence rate of around 8–60% between 40 and 90 years. Moreover, it affects about 70% of US men between the age of 60 and 69 years. Approximately 32 million men worldwide experience mild to severe symptoms of BPH. According to several medical studies, there are more than 50% of men above age 50 diagnosed with an enlarged prostate. Besides, there are 4 million men who suffer from benign prostatic hyperplasia. Hence, the high prevalence among men is a major factor contributing to the demand for advanced medical devices.
Another factor that is expected to drive the market is the emergence of advanced and innovative BPH therapies to provide quality care to patients in outpatient centers in less time and at an affordable cost. Although medication is the first line of treatment preferred by several patients, around 45 to 60% of patients tend to opt for advanced therapies to get relief from lower urinary tract symptoms (LUTS) and other complications immediately. Hence, the emergence of innovative BPH treatment devices is expected to reduce complications associated with traditional BPH treatment, thereby driving the demand for advanced devices.
- Europe and North America are expected to grow at faster CAGRs than the average global market due to the strong presence of major vendors and the increasing patient population.
- The global specialty urology clinics segment is expected to grow at a CAGR of over 30% during 2019–2025.
- The prostatic urethral lift segment is expected to observe an incremental growth of over $1.4 billion by 2025 on account of the increasing adoption and popularity of advanced minimally invasive treatment options.
BENIGN PROSTATIC HYPERPLASIA DEVICES MARKET SEGMENTATION
This research report includes a detailed segmentation by
INSIGHTS BY PROCEDURE
The PUL technology segment is growing due to the increasing patient population and the growing adoption of advanced minimally invasive treatment. PUL is an advanced minimally invasive procedure for the treatment of BPH with less complications. As these procedures can be performed under local, spinal, or general anesthesia or in in-office settings or clinics, the technique is grabbing attention among end-users in developed economies, thereby influencing the segment.
The laser segment is growing at a significant rate due to the increasing awareness of BPH, and several treatment options using advanced medical devices. As there is a rise in the number of the patient population, the demand for laser therapies is likely to grow. Also, an accelerated demand for medical lasers is observed to treat multiple diseases, this is increasing the demand for non-invasive treatment devices among end-users, thereby driving the growth in the benign prostatic hyperplasia devices market.
Transurethral resection procedures (TURP) have been a standard medical procedure for the treatment of BPH in the last more than 60 years. It has been the most suitable treatment for lower urinary tract obstructions caused by BPH. The increase in the elderly population is one of the major factors driving the demand for TURP. The adoption of these procedures is high in hospitals, where there is a scarcity of well-developed innovative devices. However, the availability of advanced treatment options is decreasing the adoption of traditional resectoscope treatment options, thereby influencing the growth during the forecast period.
INSIGHTS BY END-USER
In 2019, the hospital end-user was the largest segment in the global benign prostatic hyperplasia devices market. However, the segment is likely to witness the slowest growth during the forecast period due to the change in patients’ preference in terms of treatment. As BPH surgical treatment is witnessing the application of innovative MI devices, BPH surgical care is moving toward out-patient settings. However, the increasing aging population and the growing patient group with BPH have led to high hospitalization rates. Most patients prefer hospitals, especially public ones, as their priority due to the availability of insurance coverage and less out-of-pocket expenses in case of inadequate reimbursement for BPH surgeries. Further, the availability of skilled healthcare professionals with knowledge and expertise in performing both invasive and MI BPH surgeries also attracts more patients to hospitals.
Specialty urology clinics are expected to grow at a phenomenal rate due to the increased acceptance of several in-office based BPH therapies, especially in North America, Europe, and APAC. In-office therapies are non-surgical procedures performed in the urologist’s clinics in less than one hour. With several research studies confirming minimally Invasive options as safe, effective, and durable for treating BPH, the specialist clinic segment is likely to grow during the forecast period.
The introduction of ASCs has lowered the rate of out-patient urologic surgeries performed in expensive hospital settings. The volume of outpatient surgeries has increased dramatically over the past three decades due to advances in medical technology and payment incentives. ASCs have several advantages, most of which are derived from their operational efficiency. For payers, ASCs provide similar care at a low cost per episode. ASCs offer a patient-centered experience in a comfortable environment with lower co-payments.
INSIGHTS BY GEOGRAPHY
North America is growing at a fast CAGR due to the growing preference for technologically advanced BPH devices. Although the high cost of BPH devices can affect the market adversely, the presence of reimbursement coverage for both invasive and minimally invasive treatment options will have a positive impact on the growth. The availability of reimbursement coverage for several BPH devices is likely to boost the market in the region. North America is currently dominating the TURP segment, with around 150,000 people in the US opting for TURPs annually because of high medical reimbursement facilities. Therefore, the market is growing at significant growth, and the region is dominating the market and expected to dominate in the upcoming years.
Germany, the UK, France, Spain, and Italy are the major revenue contributors in Europe. The benign prostatic hyperplasia devices market is growing at a healthier rate in the APAC, Latin America, and the Middle East & Africa due to the presence of sophisticated healthcare infrastructure. The prevalence of BPH is more than 10.3% in recent years, and the trend is likely to grow due to the increasing elderly population, especially men. According to a survey, around 29% of European men aged between 50 and 80 years have moderate to severe LUTS. As Europe has high availability of skilled professionals and the healthcare infrastructure is well developed for the use of BPH advanced technology such as minimally invasive surgery devices and lasers, the adoption is likely to boost in the region.
Japan is the major revenue contributor to the APAC BPH devices market due to the increasing prevalence and high adoption of TURP and laser therapies for the treatment of patients. China is the second major revenue contributor to the APAC region due to the presence of a large pool of patients that use technologically advanced devices. The demand for TURP is relatively higher in the region than other procedures as this method is clinically proven and widely accepted treatment option for BPH. Laser therapy is also gaining traction in countries such as Japan, Australia, South Korea, China, and India.
INSIGHTS BY VENDORS
The global BPH devices market is fairly concentrated and is characterized by the presence of established vendors holding the majority of the share. There is a significant number of global as well as regional players offering advanced BPH devices in the market. Teleflex, KARL STORZ SE & Co. KG, Lumenis, Urologix, and Boston Scientific are the major players operating in the benign prostatic hyperplasia devices market. These companies have a wide geographic footprint, diversified product portfolio, and a strong focus on innovation and research activities.
The benign prostatic hyperplasia (BPH) devices market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
Segmentation by Procedure
- Laser Therapy
- Specialty Urology Centers
- Ambulatory Surgery Centers (ASC)
- North America
- South Korea
- Latin America