Benign Prostatic Hyperplasia Prostate Treatment Market Trends

Growth Drivers

• Rising Geriatric Population- As per the figures demonstrated by the World Bank, it is estimated that the geriatric population reached 747,238,580 in 2021. Benign prostatic hyperplasia (BPH) prostate is a disease that occurs in older man. Since the number of geriatrics is high, the probability for the prevalence of benign prostatic hyperplasia (BPH) rises. BPH can be a severe health condition that requires immediate medical care, which is anticipated to increase the growth of the global benign prostatic hyperplasia (BPH) prostate treatment market.
• Higher Prevalence of Benign Prostatic Hyperplasia (BPH)-There is a high prevalence of benign prostatic hyperplasia owing to different factors such as obesity, aging male population, and physical activity, and it is predicted to drive the market’s growth over the forecast period. Based on the report published by the National Institute of Diabetes and Digestive and Kidney Diseases, it is demonstrated that around 50% of men aged between 51 to 60 live with benign prostatic hyperplasia.
• Developing Medical Technology Across the Globe - As of 2022, the growth of global medical technology was estimated to increase by approximately 4% per year.
• Spiking Cases of Urinary Tract Infection - For instance, in the United States, approximately 0.9 million cases of UTIs are diagnosed every year.
• Increasing Healthcare Expenditure Per Capita- Improvement in the healthcare infrastructure, followed by the increase in the healthcare expenditure around the word, are making the upgraded treatment with better technology available for the patients. Therefore, it is expected to surge the growth of the global benign prostatic hyperplasia (BPH) prostate treatment market. In 2019, the healthcare expenditure across the globe was estimated to be around 1000 U.S. dollars per capita.

Challenges

• Possibility of Side-Effects of BPH Drugs - There can be significant side-effects of BPS drugs that can play as significant restraint factors. The side effects of benign prostatic hyperplasia (BPH) prostate treatment are dizziness, dry mouth, nasopharyngitis, pruritus, micturition difficulties, constipation, and others. This is expected to hamper the growth of the market in the upcoming years.
• Stringent Government Regulations Regarding the Sales and Consumption of Medicines
• Lack of Awareness of the Disease in Developing Countries