Global Benign Prostatic Hyperplasia Market Report 2018 provides actionable intelligence on factors that have been driving demand; key trends that are impacting the Benign Prostatic Hyperplasia market; challenges that affect the market dynamics along with the market size, a SWOT analysis of the key vendors, and various segments.
Competitor Analysis: by product types, market share, applications, sales, and revenue.
- Allergan PLC
- Astellas Pharma Inc.
- Boehringer Ingelheim
- Eli Lilly and Company
- GlaxoSmithKline PLC
- Nymox Pharmaceutical Corporation
- Sophiris Bio Corp
- and Teva Pharmaceutical Industries Limited
- among others.
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Description of Benign Prostatic Hyperplasia Market: Benign Prostatic Hyperplasia Market Overview
The benign prostatic hyperplasia market is expected to register a CAGR of approximately 8.5% over the forecast period, 2018-2023. Benign prostatic hyperplasia (BPH) also known as benign prostatic hypertrophy is characterized by the unusual propagation of the prostatic cells, which causes difficulties like urinary retention and infections of the urinary tract. It is most common among the aging men population, primarily driving this market. On the basis of geographical analysis, the North American region is expected to retain its dominance in this market owing to better healthcare infrastructure, high healthcare expenditure on urological disorders, increased awareness in the society increasing the outpatients center and hospitals visits.
Rising Geriatric Population to Induce a Surge in the Benign Prostatic Hyperplasia Market
Benign prostatic hyperplasia (BPH) is being accepted as a growing health problem of elderly men. With the rising number of elderly males in the population, the degree of the problem is projected to rise multifold over the next few years. As per a publication of 2018 in the United States Census Bureau the population of people aged 65 and above in the US would increase drastically between 2016 and 2060 period. By 2030, one in five US citizens is expected to be 65 years and older, crossing 78.0 million. The diseased population is also significantly increased in the emerging markets. The advancements in early diagnosis of the disease and geriatric population along with adults drive the demand for the benign prostatic hyperplasia market.
In addition, the other factors contributing to driving this market include technological advancements in personalized medicines and rising awareness in the society through campaigns.
Non-adherence of Patients to Pharmacological Therapy will impede the Growth of Benign Prostatic Hyperplasia Market
Patient adherence to therapeutics for Benign Prostatic Hyperplasia is low. Especially, the need for usage of a combination of two drugs for the treatment of BPH characterizes is among the major hurdle for adherence of patients to pharmacotherapy. Persistence on therapeutic approach is generally associated with a lower rate of hospitalization for complications regarding BPH. This is more associated with social stigma mainly in low and middle-income countries. The majority of patients rely on the conservative management, particularly in Asian countries. According to data published in 2015, in BioMed Central, a significantly lesser percentage of males suffering from BPH try to seek for any medical assistance and even lesser go for the pharmacological treatment. Thus, it is considered among the major hindrance in the growth of the benign prostatic hyperplasia market.
Another evolving barrier in this market includes increasing preference for the minimally invasive surgeries.
North America expected to Lead the Benign Prostatic Hyperplasia Market
North America dominates the market owing to the high prevalence of BPH and other associated lower urinary tract symptoms. Several studies in past one era have reported a significant percentage of men in the US, aged between 45 and 80 years suffer from some type of lower urinary tract symptoms and mostly have some form of BPH symptoms. In addition, several hospitals across the US, and Canada have collaboration with the non-profit organization and companies such as GlaxoSmithKline in some of the projects to raise awareness and adequate resources for the treatment of urological disorders. Thus, it acts a very lucrative market for the companies contributing to a large share of this market. Europe and Asia Pacific region are expected to follow next.
Benign Prostatic Hyperplasia Market report passes on a fundamental overview of the Market including its definition, applications, and advancement. Furthermore, the Industry report investigates the ecumenical Major Benign Prostatic Hyperplasia Market players in detail. Benign Prostatic Hyperplasia Market report gives key bits of Cautiousness and subsisting status of the Players and is a basic Source obviously and heading for Companies and people energized by the Industry.
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The Global demand for Benign Prostatic Hyperplasia Market is forecast to report strong development driven by consumption in major evolving markets. More growth opportunities to come up between 2018 and 2025 compared to a few years ago, signifying the rapid pace of change.
Benign Prostatic Hyperplasia Market Historic Data (2012-2018):
- Industry Trends: Status and Outlook.
- Competitive Landscape: By Manufacturers, Development Trends.
- Product Revenue for Top Players: Market Share, Growth Rate, Current Market Situation Analysis.
- Market Segment: By Types, By Applications, By Regions/ Geography.
- Sales Revenue: Market Share, Growth Rate, Current Market Analysis.
Benign Prostatic Hyperplasia Market Forecast (2018-2023):
- Market Size Forecast: Overall Size, By Type/Product Category, By Applications/End Users, By Regions/Geography.
- Key Data (Revenue): Market Size, Market Share, Growth Rate, Growth, Product Sales Price.
Benign Prostatic Hyperplasia Market Influencing Factors:
- Market Environment: Government Policies, Technological Changes, Market Risks.
- Market Drivers: Growing Demand, Reduction in Cost, Market Opportunities and Challenges.
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