How Will the Drugs For Benign Prostatic hypertrophy Market Grow? Key Trends and Opportunities for 2025 and Beyond
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How Will the Drugs For Benign Prostatic hypertrophy Market Grow Over the Forecast Period Based on Its Expected CAGR?
The market size of medication for benign prostatic hypertrophy has seen a significant growth in recent times. Projected to expand from $4.28 billion in 2024 to $4.58 billion in 2025, showing a compound annual growth rate (CAGR) of 6.8%. Factors contributing to this massive growth in the past include an aging population, heightened awareness, improvement in drug treatments, and expanded access to healthcare.
In the coming years, the market size for benign prostatic hypertrophy drugs is projected to experience robust growth. It is predicted to escalate to a market value of $5.58 billion by 2029, with a compound annual growth rate (CAGR) of 5.1%. The growth during the forecast period could be a result of several factors such as the emergence of new markets, the development of new drugs, increased awareness and education, and regulatory approvals. The forthcoming period is expected to witness trends such as minimal invasive treatments, personalized medicine, combination therapies, patient-focused care, telemedicine and digital health, along with increased research and development activities.
How Are the key drivers Contributing to the Expansion of the Drugs For Benign Prostatic hypertrophy Market?
The global growth of the benign prostatic hypertrophy drugs market is being fuelled by the increasing older male population, as this condition is regularly observed in men over 50. For example, in October 2022, the World Health Organization, a specialist health agency based in the US, projected that by 2030, 1 out of every 6 individuals worldwide will be 60 or older, with expectations of hitting 2.1 billion elderly individuals by 2050. The National Institute of Health (NIH) states that Benign Prostatic Hyperplasia impacts around 50% of men between the ages of 51 and 60, and as many as 90% of men above the age of 80.
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Who Are the Dominant Players Expanding Their Reach in the Drugs For Benign Prostatic hypertrophy Market?
Major companies operating in the drugs for benign prostatic hypertrophy market include Allergan Inc., Astellas Pharma Inc., Boehringer Ingelheim International GmbH, GlaxoSmithKline plc, Teva Pharmaceutical Industries Limited, Sanofi S.A., Nymox Pharmaceutical Corporation, Æterna Zentaris Inc., Pfizer Inc., IntelGenx Technologies Corp., Ipsen S.A., Novartis International AG, Antibe Therapeutics Inc., Bausch Health Companies Inc., Bayer AG, Quest PharmaTech Inc., Bristol-Myers Squibb Company, Endo Pharmaceuticals Inc., Kaken Pharmaceutical Co. Ltd., Impax Laboratories Inc., GemVax & KAEL Inc., Merck & Co. Inc., Kissei Pharmaceutical Co. Ltd., Abbott Laboratories, Allium Medical Solutions Ltd., Asahi Kasei Corporation, Asclepion Laser Technologies GmbH, Boston Scientific Corporation, Biolitec AG, Coloplast A/S, Eli Lilly and Company, Endo International plc, IPG Photonics Corporation, KARL STORZ SE & Co. KG, LISA Laser Products AG, Medifocus Inc., Olympus Corporation, Pharex Health Corporation, PNN Medical A/S, Quanta S.p.A.
What Are the Top Trends Shaping the Evolution of the Drugs For Benign Prostatic hypertrophy Market?
Leading companies within the benign prostatic hypertrophy drug market are prioritizing the development of innovative solutions, such as Polish drugs, to provide substantial support to patients suffering from urological complications. The term Polish drugs refers to the medicinal products utilized for the diagnosis, treatment, prevention, or symptom relief of diseases and conditions, and are sanctioned for safety, effectiveness, and quality by the pertinent health authorities. For instance, Adamed Sp. z o.o., a pharmaceutical entity based in Poland, introduced a combined drug, namely solifenacin succinate + tamsulosin hydrochloride, in June 2023. These products, present in a fixed-dose medication, serve to successfully address lower urinary tract symptoms (LUTS) related to benign prostatic hyperplasia (BPH). This combined approach enhances the therapeutic impact by mitigating bladder contractions through the use of solifenacin and promoting urination via tamsulosin, resulting in superior patient results as compared to the use of tamsulosin as a solitary treatment.
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Which Key Market Segments Comprise the Drugs For Benign Prostatic hypertrophy Market and Drive Its Revenue Growth?
The drugs for benign prostatic hypertrophy market covered in this report is segmented –
1) By Type: Alpha Blocker, 5-alpha Reductase Inhibitor, Phosphodiesterase-5 Inhibitor, Other Types
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
3) By End User: Hospital Pharmacies, Retail Pharmacies, Other End-Users
Subsegments:
1) By Alpha Blocker: Tamsulosin, Alfuzosin, Doxazosin, Terazosin, Silodosin
2) By 5-alpha Reductase Inhibitor: Finasteride, Dutasteride
3) By Phosphodiesterase-5 Inhibitor: Tadalafil, Sildenafil
4) By Other Types: Anticholinergics, Herbal Supplements (Saw Palmetto), Combination Therapy Drugs (Alpha Blocker + 5-alpha Reductase Inhibitor)
Which Regions Are Setting the Pace for Drugs For Benign Prostatic hypertrophy Market Growth?
North America was the largest region in the drugs for benign prostatic hypertrophy market in 2023. Middle East is expected to be the fastest-growing region in the drugs for benign prostatic hypertrophy market. The regions covered in the drugs for benign prostatic hypertrophy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Are the Defining Features of the Drugs For Benign Prostatic hypertrophy Market?
The drug benign prostatic hypertrophy refers to benign prostatic hypertrophy drugs that are used to treat enlarged prostate glands by relaxing bladder neck muscles and muscle fibers in the prostate, making urination easier. Benign Prostatic Hypertrophy is commonly seen in men older than 50.
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