Benign Prostatic Hyperplasia Treatment Market to Record 5.7% CAGR during 2020-2027, as Surgeries Outscore Drugs
According to a study published by the Canadian Journal of Urology, around 50% men are likely to suffer from BPH by the age of 50 years.
Rockville, United States – January 7, 2020 /MarketersMedia/ —
Benign Prostatic Hyperplasia (BPH) cases have increased in number over time. This rate of increase in alarming and it demands stern action to be taken by central authorities to control the rate of progression. Canadian Journal of Urology published a study that states that 50% men population over 50 years of age is highly susceptible to BPH. Central healthcare bodies have acknowledge the threat it poses to the health and are launching campaigns to spread awareness regarding the same. North America celebrates ‘National Prostate Health Month’ in the month of September in order to educate men about BPH risks and conditions. Increase in BPH cases surge the demand for therapeutics. Latest Fact.MR report predicts benign prostatic hyperplasia treatment market to attain a value of US$ 12Bn by the end of year 2027.
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Branded Drugs to Expire
Benign prostatic hyperplasia treatment market is facing challenges in terms of patent renewal. Patent expiration takes place very commonly in the market and negatively influences the revenue generated by the global market. Fact.MR report suggests that patents of key Benign Prostatic Hyperplasia (treatments like Avodart, Jalyn, Cialis and Rapaflo will expire by the year 2027. Though this will be a big turn down for the market players, it is eyed as an opportunity for different local and regional players. They can invest in developing generic drugs and other biosimilar products in market. Absence of major branded drugs opens window for these generic drugs to gain stronger foot hold in the market and generate greater revenue. Generic drugs have the potential to replace the branded drugs because of their low cost. Major stake holders are highly concerned about this situation as they are making huge investments to developed advanced branded drugs. Although, sale of generic drugs may increase but the revenue generated by them is projected to be less as compared to branded drugs.
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Alpha-inhibitors Effectively Treat Low Blood Pressure
Different drugs like alpha-inhibitors for short and long term are getting adopted at a rapid rate for their efficacy to treat medical disorders like low blood pressure. They improve the blood flow to relieve the patient from the Benign Prostatic Hyperplasia (symptoms. Surgeries along with therapeutics are making market presence as Benign Prostatic Hyperplasia treatment approaches. Minimally-invasive surgeries are highly preferred by the consumers.
Fact.MR study estimates the price of transurethral resection of the prostate (TURP) to be between US$ 8,000 and US$ 12,000 in US whereas the same surgery is cheaper in India. The cost-effective nature of these treatments in regions like India are on the pretext of advanced technologies and advanced diagnostic equipment. Cheap therapeutics encourage medical tourism that has surfaced as a very novel revenue stream in global Benign Prostatic Hyperplasia treatment market. Indian government is making certain provisions like reducing wait list and relaxing visa policies to attract foreign visitors from regions like US and UK. BPH treatment is also witnessing growth in Japan owing to technological advancements and developed medical infrastructure.
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