The global Minimally Invasive Benign Prostatic Hyperplasia Therapy Devices market value is expected to exceed USD 570 million by 2025 – registering a CAGR of 3.9% during the forecast period.
As of 2017, leading five players account for nearly 85% of global share. The industry holds revenue potential and as such, many companies are trying to emerge in white space. Mergers and acquisitions along with technological advancements are key trends expected to be witness in the global scenario.
Benign Prostatic Hyperplasia (BPOH) is a noncancerous increase in prostrate size. Global minimally invasive BPH therapy market will be driven by rese in prevalence rate along with increase in geriatrics population. Its prevalence rate is above 40% in geriatrics population. As such, there is high need for effective care.
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Bekryl’s market research report, Global Minimally Invasive Benign Prostatic Hyperplasia Therapy Devices Market Size Analysis and Industry Opportunity, finds North America to account for 38% of global sales in 2018. According to National Institute of Health, nearly 14 million men in North America showed the symptoms of BPH. Technological advancement in minimally invasive approach has boosted the success rate. As such, the demand for such devices is increasing in hospitals and ambulatory surgical centers. In U.S., BPH treatment costs account for nearly US$ 4 billion annually. Most of these patients rely on drug management, however, favorable insurance policies along with higher success rate through technically advancement devices will boost sales of minimally invasive BPH therapy devices market in the region.
Some key trends from the global Minimally Invasive Benign Prostatic Hyperplasia Therapy Devices market:
Trend#1: Laser Therapy to Dominate the Minimally Invasive Benign Prostatic Hyperplasia Therapy Devices Market
Laser based therapy is gaining higher traction since it not only offers better results, but also reduces hospital stay. Moreover, it is cost effective in nature – making it preferred choice for physicians.
Trend#2: By End-use, Hospitals to Account for Majority of the Industry Share
Most of the minimally invasive BPH treatment procedures is expected to be carried out in hospitals followed by ambulatory surgical units. Over 79% of total procedures will take place in hospitals in 2018.
Trend#3: Mergers and Acquisitions to be the Key Inorganic Strategy
Higher profitability margin has led many new companies to enter in white space – which in turn will escalate competition. Leading companies are strengthening their market presence by acquiring prominent players operational in BPH therapy devices. For instance, in March 2018, Boston Scientific announced its plan to buy NxThera for US$ 406 million. NxThera received FDA approval for its device – Rezūm – in 2015. Also, in 2015, the Boston Scientific acquired American Medical Systems male urology platform. The acquisition helped company to become the market leader globally.
To know more about Minimally Invasive Benign Prostatic Hyperplasia Therapy Devices market trends and data, visit: https://bekryl.com/industry-trends/minimally-invasive-benign-prostatic-hyperplasia-therapy-devices-market
Some key global Minimally Invasive Benign Prostatic Hyperplasia Therapy Devices Market Players are Lumenis Ltd, American Medical Systems Inc., Urologix Inc., Medtronic Inc., ProstaLund Operations, and Boston Scientific Corporation
Research Scope and Brief Research Methodology:
Minimally Invasive Benign Prostatic Hyperplasia Therapy Devices Market, Product Type:
- Transurethral Needle Ablation
- Laser Therapy
- Transurethral Microwave Thermotherapy
Minimally Invasive Benign Prostatic Hyperplasia Therapy Devices Market, By End-use:
- Specialty Clinics
- Multi-Chain Hospitals
- Independent Hospitals
- Ambulatory Surgical Units
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