Benign Prostatic Hyperplasia (BPH) Devices Market by Therapy and Geography - Forecast and Analysis 2022-2026

At an accelerating CAGR of 5.09%, the benign prostatic hyperplasia (BPH) devices market share is expected to increase to USD 3.34 billion from 2021 to 2026.

This benign prostatic hyperplasia (BPH) devices market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers benign prostatic hyperplasia (BPH) devices market segmentation by therapy (TURP, laser therapy, and others) and geography (North America, Europe, Asia, and Rest of World (ROW)).

What will the Benign Prostatic Hyperplasia (BPH) Devices Market Size be During the Forecast Period?

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 "Emerging countries such as Canada is expected to witness a faster growth rate in terms of revenue compared to developed countries owing to the presence of a large target population and rising awareness levels regarding the availability of diagnostic procedures for BHP."

The benign prostatic hyperplasia (BPH) devices market report also offers information on several market vendors, including Astellas Pharma Inc., biolitec AG, Boston Scientific Corp., Butterfly Medical, Coloplast AS, Convergent Laser Technologies, IPG Photonics Corp., KARL STORZ SE and Co. KG, Medeon Biodesign Inc., Medifocus Inc., Olympus Europa SE and Co. KG, OmniGuide Holdings Inc., ProArc Medical, PROCEPT BioRobotics Corp., Richard Wolf GmbH, SRS Medical, Teleflex Inc., Urologix LLC, Vendor Credentialing Service LLC dba symplr, and Zenflow Inc. among others.

Benign Prostatic Hyperplasia (BPH) Devices Market: Key Drivers, Trends, and Challenges

The increasing prevalence of BPH coupled with increasing risk factors is notably driving the benign prostatic hyperplasia devices market growth, although factors such as high cost of BPH treatment may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the benign prostatic hyperplasia (BPH) devices industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Benign Prostatic Hyperplasia (BPH) Devices Market Driver

One of the key factors driving the global benign prostatic hyperplasia devices market growth is the increasing prevalence of BPH coupled with increasing risk factors. BPH is one of the most common diseases in aging men. Approximately 10% of men in their 30s, 20% of men in their 40s, 50%-60% of men in their 60s, and 80%-90% of men in their 70s and 80s were affected by BPH in 2020. According to the NIH, in 2021, approximately 9% of the global population were aged 65 years and above. The number is expected to increase to approximately 1.6 billion (17%) by 2050. Thus, the prevalence of BPH is estimated to increase drastically due to the rapidly increasing geriatric population. In addition, genetics, diet, and lifestyle also play an important role in increasing the risk of BPH. One in every two men below 60 years undergoing surgery for BPH has the heritable form of the disease. Such factors will drive market growth in the coming years.

Key Benign Prostatic Hyperplasia (BPH) Devices Market Trend

The increasing preference of in-office-based minimally invasive surgical techniques is one of the key benign prostatic hyperplasia devices market trends that is expected to impact the industry positively in the forecast period. Most of the emerging minimally invasive procedures can be performed in a physician's office or in an outpatient setting. In-office BPH treatment procedures can be performed in less than one hour without the need for general anesthesia. These procedures are an ideal choice for patients who do not want to take daily medications for the rest of their lives and avoid ongoing costs of medication, side effects, and high costs of invasive surgeries. A large proportion of patients and physicians are opting for in-office procedures for BPH treatments. The most common in-office BPH therapies include TUMT, TUNA, PVP, and UroLift. Such factors will further support the growth of the global BPH devices market in the coming years.

Key Benign Prostatic Hyperplasia (BPH) Devices Market Challenge

One of the key challenges to the global benign prostatic hyperplasia devices market growth is the high cost of BPH treatment. In the US alone, the annual cost of BPH treatment is approximately USD 4 billion, while, the average cost of a TURP procedure is approximately USD 9,600. The cost can fluctuate greatly between the states, with prices as low as USD 4,500 to as high as USD  20,000. In the UK, NHS TURS procedures are generally available for free for people who are in urgent need of transurethral resection. However, the waiting list of patients to undergo the procedures is generally high. The average cost of TURP surgery in private hospitals in the UK is USD 9,500. USD 7,000 in Germany, and USD 6,000 in Spain. The cost of Greenlight laser prostatectomy in the US can range between USD 5,000 and USD 15,000, depending on the location of the surgery performed (surgical center or a hospital) and the length of the surgery. The average cost of the UroLift is approximately USD 6,500. This may limit the market growth during the forecast period.

This BPH devices market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global benign prostatic hyperplasia (BPH) devices market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the benign prostatic hyperplasia (BPH) devices market during the forecast period.

Market Overview

The parent, global healthcare equipment market covers products and companies engaged in research and development (R and D) of a variety of product categories, including capital equipment, instruments, implants, accessories, and consumables that are used for the diagnosis, monitoring, and treatment of various diseases. 

Who are the Major Benign Prostatic Hyperplasia (BPH) Devices Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Astellas Pharma Inc.
• biolitec AG
• Boston Scientific Corp.
• Butterfly Medical
• Coloplast AS
• Convergent Laser Technologies
• IPG Photonics Corp.
• KARL STORZ SE and Co. KG
• Medeon Biodesign Inc.
• Medifocus Inc.
• Olympus Europa SE and Co. KG
• OmniGuide Holdings Inc.
• ProArc Medical
• PROCEPT BioRobotics Corp.
• Richard Wolf GmbH
• SRS Medical
• Teleflex Inc.
• Urologix LLC
• Vendor Credentialing Service LLC dba symplr
• Zenflow Inc.

 

This statistical study of the benign prostatic hyperplasia (BPH) devices market encompasses successful business strategies deployed by the key vendors. The benign prostatic hyperplasia (BPH) devices market is fragmented and the vendors are deploying growth strategies such as investment in research and development to compete in the market.

Product Insights and News

• Boston Scientific Corp. - The company offers benign prostatic hyperplasia devices such as Rezum Water Vapor Therapy and GreenLight XPS.
• Boston Scientific Corp. - Through the MedSurg segment, the company develops and manufactures devices to diagnose and treat a broad range of gastrointestinal and pulmonary conditions and urological and pelvic conditions. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The benign prostatic hyperplasia (BPH) devices market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Benign Prostatic Hyperplasia (BPH) Devices Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the benign prostatic hyperplasia (BPH) devices market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Benign Prostatic Hyperplasia (BPH) Devices Market?

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37% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for benign prostatic hyperplasia (BPH) devices in North America. Market growth in this region will be faster than the growth of the market in Rest of World (ROW).

The growing elderly population, rising incidence of BPH, and perpetual innovations in BPH devices will facilitate the benign prostatic hyperplasia (BPH) devices market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 in the region led to a halt in the operations of manufacturing facilities, regulatory approvals, and BPH treatments, which restricted the production and use of BPH devices and negatively impacted the growth of the market in the region. However, in 2021, following the initiation of large-scale COVID-19 vaccination drives, the market was expected to grow. 

What are the Revenue-generating Therapy Segments in the Benign Prostatic Hyperplasia (BPH) Devices Market?

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The benign prostatic hyperplasia (BPH) devices market share growth by the TURP segment will be significant during the forecast period. TURP is considered a standard treatment for BPH by many organizations such as the American Urological Association (AMA), Canadian Urological Association (CUA), and European Urological Association (EAU). It is efficient, cost-effective, and durable with low long-term complications and re-treatment rates. The increasing preference for B-TURP for BPH treatment is expected to drive the TURP devices segment, which will fuel the growth of the market in focus during the forecast years.

This report provides an accurate prediction of the contribution of all the segments to the growth of the benign prostatic hyperplasia (BPH) devices market size and actionable market insights on post COVID-19 impact on each segment.

 

Benign Prostatic Hyperplasia (BPH) Devices Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 5.09%
Market growth 2022-2026	$ 3.34 billion
Market structure	Fragmented
YoY growth (%)	3.52
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 37%
Key consumer countries	US, Canada, France, Ireland, and China
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Astellas Pharma Inc., biolitec AG, Boston Scientific Corp., Butterfly Medical, Coloplast AS, Convergent Laser Technologies, IPG Photonics Corp., KARL STORZ SE and Co. KG, Medeon Biodesign Inc., Medifocus Inc., Olympus Europa SE and Co. KG, OmniGuide Holdings Inc., ProArc Medical, PROCEPT BioRobotics Corp., Richard Wolf GmbH, SRS Medical, Teleflex Inc., Urologix LLC, Vendor Credentialing Service LLC dba symplr, and Zenflow Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Benign Prostatic Hyperplasia (BPH) Devices Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive benign prostatic hyperplasia (BPH) devices market growth during the next five years
• Precise estimation of the benign prostatic hyperplasia (BPH) devices market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the benign prostatic hyperplasia (BPH) devices industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of benign prostatic hyperplasia (BPH) devices market vendors

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