Changing lifestyle is considered as an important factor contributing to the increasing demand for BPH devices in the market.
According to the latest Arizton’s market research report, the benign prostatic hyperplasia devices size to cross USD 800 million by 2020, growing at a CAGR of 22% during the forecast period.
Benign Prostatic Hyperplasia Devices – Market Growth
Changing lifestyle is considered as an important factor contributing to the increasing demand for BPH devices in the market. The rising prevalence of benign prostatic hyperplasia is the primary factor driving the growth of BPH devices. Vendors are focusing on technological advancement to develop and commercialize innovative and advanced BPH treatment. The growth in developed countries is driven due to the introduction of safety legislation and increasing patient population that requires advanced BPH treatment for quick recovery. The rising prevalence of geriatric men is eventually increasing the patient population driving the global BPH devices market.
Growing Popularity of Robotic-Assistance Surgical Techniques for BPH
Robot-assisted surgery for BPH treatment is innovative and trending among the end-users mostly in the developed countries. The innovative surgeries offer benefits for both patients and surgeons that have been helping to treat diseases over the past few decades. The demand for robotic surgery is becoming popular with the rapid technological advancements. Robot-assisted surgery is a minimally invasive surgery approach which integrates advanced computer technology. This strategy adopted by companies is expected to provide access to treatments in affordable prices and will gain traction in upcoming years across the globe. Robotic surgery expanded the benefits of minimally invasive surgery by offering wide dexterity, and maneuverability over conventional surgical devices.
- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by procedure, end-users, and geography
- Competitive Landscape – 5 Key Company Profiles and 14 Other Prominent Vendors
Benign Prostatic Hyperplasia Devices – Geographic Analysis
APAC market accounted for the largest share in the BPH market globally. Japan is the leading revenue contributor in the APAC BPH devices market. The demand for UroLift is relatively higher in Japan compared to other APAC countries. The growth of the market in APAC is driven by the factors such as growth in economy, the living standard of people is also increasing attributed to the increase in per capita income, and the prevalence of various acute and chronic diseases. North America is growing at a fast CAGR due to the growing preference for technologically advanced BPH devices. The high cost of BPH devices can affect the market adversely and 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.
The global BPH devices market is concentrated and characterized by the presence of established vendors holding majority of the market share. Vendors especially, global players are pursuing inorganic growth strategies such as acquisitions and strategic partnership to expand their presence, enhancing product portfolios, and improving expertise in the market. There is a significant number of global as well as regional players offering advanced BPH devices globally. Teleflex, KARL STORZ, Lumenis, Urologix, and Boston Scientific are the key players in the BPH devices market. These companies have a wide geographic footprint, diversified product portfolio, and a strong focus on innovation and research activities.
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