Drugs For Benign Prostatic Hypertrophy Market Report 2024 – Market to Reach $5.45 billion in 2028 – Opportunities in Minimally Invasive Treatments, Personalized Medicine and Combination Therapies

DUBLIN, Dec. 5, 2023 /PRNewswire/ — The “Drugs For Benign Prostatic hypertrophy Global Market Report 2024” has been added to  ResearchAndMarkets.com’s offering.

 

The drugs for benign prostatic hypertrophy market size has grown strongly in recent years. It will grow from $4.02 billion in 2023 to $4.31 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth observed during the historical period can be attributed to several factors, including the aging population, heightened awareness of benign prostatic hypertrophy, advancements in drug therapies, and improved access to healthcare services. These factors have contributed to the historical growth of treatments for this condition.

The drugs for benign prostatic hypertrophy market size is expected to see strong growth in the next few years. It will grow to $5.45 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The anticipated growth in the forecast period can be attributed to several factors, including the expansion of emerging markets, the development of new drugs, heightened awareness and education about benign prostatic hypertrophy, and regulatory approvals for treatments. Prominent trends in the forecast period encompass the adoption of minimally invasive treatments, the practice of personalized medicine, the use of combination therapies, a focus on patient-centered care, the integration of telemedicine and digital health solutions, and ongoing research and development efforts in the field.

The global growth in the male geriatric population is a key driver of the drugs for benign prostatic hypertrophy market since this condition is commonly observed in men aged 50 and above. As an example, in October 2022, the World Health Organization, a US-based specialized health agency, reported that by 2030, an estimated 1 in 6 individuals globally would be 60 years or older, and this figure is projected to increase to 2.1 billion elderly individuals by 2050. According to the National Institute of Health (NIH), Benign Prostatic Hyperplasia (BPH) affects approximately 50% of men aged between 51 and 60 years, and this percentage rises to as high as 90% among men aged over 80 years.

The growing prevalence of prostate diseases is expected to drive the future growth of the drugs for benign prostatic hypertrophy market. Prostate diseases encompass various medical conditions that impact the prostate gland, a male reproductive organ situated just below the bladder. Drugs for benign prostatic hypertrophy (BPH) play a critical role in managing and mitigating urinary symptoms associated with prostate diseases. These medications provide relief by reducing the enlargement of the prostate gland and improving urine flow. For instance, a report from the Harvard Medical School, a US-based medical institution, in February 2021, revealed that by the age of 60, 50% of men will experience prostate enlargement, and this proportion increases to 90% by the age of 85. Therefore, the increased prevalence of prostate diseases is propelling the growth of the drugs for benign prostatic hypertrophy market.

The increasing adoption of minimally invasive surgeries, driven by technological advancements, is a factor restraining the growth of the Benign Prostatic Hyperplasia drugs market. Minimally invasive surgeries typically result in less pain and are often performed on an outpatient basis, negating the need for Benign Prostatic Hyperplasia drugs. This serves as a limitation on the market. Some of the minimally invasive surgical approaches used for Benign Prostatic Hyperplasia treatment include laparoscopic prostatectomy, transurethral microwave thermotherapy (TUMT), and transurethral needle ablation (TUNA).

The combination drugs are gaining prominence in the treatment of benign prostatic hypertrophy due to their enhanced effectiveness and disease progression prevention. Combination drugs incorporate two or more active pharmaceutical ingredients (APIs) within a single dosage form. These drugs reduce the risk of drug resistance, lead to fewer side effects, and have a lower treatment failure rate. For instance, Duodart, which combines dutasteride and tamsulosin hydrochloride, is increasingly prescribed for Benign Prostatic Hypertrophy treatment.

Major companies in the drugs for benign prostatic hypertrophy market are concentrating on the introduction of innovative medications like Entadfi to maximize their market revenue. Entadfi is a prescription medicine designed to address the symptoms of benign prostatic hyperplasia (BPH) in men with an enlarged prostate. For example, in December 2021, Veru Inc., a US-based biotechnology company, obtained approval from the United States Food and Drug Administration (FDA) for Entadfi. This prescription medication is intended for the treatment of BPH symptoms in men with an enlarged prostate for a duration of up to 26 weeks. The approval of Entadfi was based on a randomized, double-blind, placebo-controlled phase 3 study that assessed the efficacy and safety of tadalafil in combination with finasteride in 696 men. Entadfi is provided in capsule form, containing a combination of finasteride 5mg and tadalafil 5mg, available in 30- or 90-count bottles.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

Scope

Markets Covered:By Type: Alpha Blocker; 5-alpha Reductase Inhibitor; Phosphodiesterase-5 Inhibitor; Other TypesBy Distribution Channel: Hospital Pharmacies; Retail Pharmacies; Online PharmaciesBy End User: Hospital Pharmacies; Retail Pharmacies; Other End-UsersCountries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; SpainRegions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; AfricaTime series: Five years historic and ten years forecast.Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,Data segmentations: Country and regional historic and forecast data, market share of competitors, market segments.

Company Profiles

AllerganAstellas PharmaBoehringer Ingelheim InternationalGlaxoSmithKlineTeva Pharmaceutical IndustriesSanofiNymox PharmaceuticalAterna ZentarisPfizerIntelGenx TechnologiesIpsenNovartis InternationalAntibe TherapeuticsBausch Health CompaniesBayerQuest PharmaTechBristol-Myers SquibbEndo PharmaceuticalsKaken PharmaceuticalImpax LaboratoriesGemVax & KAELMerckKissei PharmaceuticalAbbott LaboratoriesAllium Medical SolutionsAsahi KaseiAsclepion Laser TechnologiesBoston ScientificBiolitecColoplastEli LillyEndo InternationalIPG PhotonicsKARL STORZLISA Laser ProductsMedifocusOlympusPharex HealthPNN MedicalQuanta

For more information about this report visit https://www.researchandmarkets.com/r/jv7jab

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