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(Health-NewsWire.Net, April 07, 2021 ) The benign prostatic hyperplasia treatment market is projected to reach USD 14.1 billion by 2026 from USD 10.8 billion in 2021, at a CAGR of 5.3% from 2021 to 2026.
Factors Driving the Market Growth:
The growth of this market is driven by the increasing prevalence of benign prostatic hyperplasia, the rising preference for minimally invasive surgeries, increasing obesity rate, and investments, funds, and grants for research in the field of BPH treatment.
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Drug treatment is expected to hold the largest share of the benign prostatic hyperplasia treatment market, by type in 2021.
Based on the type, the BPH treatment market is segmented into drug treatment and surgical treatment. Drug treatment is the largest and the fastest-growing segment in this market. This can primarily be attributed to the use of medications as the first line of treatment among men with mild to moderate symptoms of BPH.
Home healthcare is expected to hold the largest share of the benign prostatic hyperplasia treatment market, in 2021.
Based on the end user, the market is segmented into home healthcare and hospitals & clinics. In 2019, home healthcare accounted for the largest share of this market, as most patients are prescribed medications over surgery. Patients are also advised to continue taking medications for a few weeks post-surgery and may even require catheters for a few days. As a result, the emphasis in his market is skewed toward home healthcare over hospital care.
North America commanded the largest share of the benign prostatic hyperplasia treatment market in 2021.
On the basis of region, the benign prostatic hyperplasia treatment market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. In 2019, North America commanded the largest share of the benign prostatic hyperplasia treatment market. The large share of this market segment can be attributed to the rising geriatric and obese population and the availability of research funding are the major factors driving the market growth. Initiatives by key players are also expected to contribute to the market.
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Key Players Driving the market:
The major players operating in this market are Boston Scientific Corporation (US), Coloplast Group (Denmark), Teleflex Incorporated (US), Olympus Corporation (Japan), GlaxoSmithKline PLC (UK), Eli Lilly (US), Pfizer, Inc. (US), Abbott (US), Asahi Kasei Corporation (Japan), Merck & Co., Inc. (US), Astellas Pharma Inc. (Japan), Allergan plc (Ireland), Alembic (India), IPG Photonics Corporation (US), Richard Wolf GmbH (Germany), Unilab, Inc. (Philippines), Pharex Health Corporation (Philippines), Biolitec AG (Austria), Urologix, LLC (US), Advin Health Care (India), Medifocus, Inc. (Canada), Asclepion Laser Technologies GmbH (Germany), Pnn Medical A/S (Denmark), Surgical Lasers Inc. (Canada). Quanta Systems (Italy), Allium Ltd. (Israel), Lumenis Ltd. (Israel), KARL STORZ SE & Co. KG (Germany), and SRS Medical (US).
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Mr. Aashish Mehra
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