LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global benign prostatic hyperplasia (BPH) drugs market to grow at a CAGR of more than 7% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global benign prostatic hyperplasia drugs market for 2017-2021. The market is segmented based on MOA (alpha-blockers, 5-ARIs, and PDE-5), and geography (APAC, EMEA, and the Americas).
The global BPH drugs market is expected to reach a revenue of USD 5,340.52 million by 2021. The increasing older male population around the world will drive the market, as men who are older than 50 years have a higher chance of developing BPH. BPH is caused by changes in hormone balance and cell-growth factors. It can also occur due to genetic or hereditary factors. Furthermore, many generics are coming into the market as many drugs have lost their patents and a few will be losing soon. For instance, GlaxoSmithKline lost its patent of AVODART in November 2015, which is prescribed for the treatment of BPH.
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Technavio healthcare and life science research analysts highlight the following three factors that are contributing to the growth of the global benign prostatic hyperplasia drugs market:
- Growing geriatric male population
- Strong R&D
- Growing demand for alpha-blockers
Growing geriatric male population
The presence of a large population with BPH symptoms is expected to drive the market growth. The presence of a large population with BPH symptoms is expected to drive the market growth. The rise in the age of individual increases the risk of BHP. Approximately, 80% of men who reach 60 years and above have mild to strong symptoms of BPH.
Sapna Jha, a lead vaccines research analyst at Technavio, says, “Currently, out of the total older population in the world, those aged above 65 years are the fastest-growing population group, accounting for 8.1% of the total population in 2014. This group is expected to reach 16% by 2050. This scenario is expected to drive the market growth.”
The high unmet needs associated with the market has driven the vendors to conduct R&D activities, which has fueled the pipeline for BPH. For instance, GL PharmTech is developing tamsulosin HCL 0.4 mg drug for the treatment of BPH. The drug is in Phase III and is expected to receive approval in the forecast period. Hanmi Pharmaceutical is developing two candidates HCP1303 capsule and HGP1201, which are currently in Phase III stage of the similar indication.
“There will be a huge unmet medical need for BPH at least for the next 7-10 years by considering the growing older male population and the direct relationship of BPH disorder with the age of the male population. As the pipeline for BPH holds promising molecules in their late stages of development, once launched over the forecast period, they will be sufficing this huge unmet need, thereby driving the market growth,” says Sapna.
Growing demand for alpha-blockers
The evolution of alpha-blockers therapy for BPH has focused on improving convenience and tolerability. Reversing signs and symptoms or preventing progression of the disease are the indications of treating BPH. Alpha-blockers are the most effective, least costly, and best tolerated of the drugs for relieving LUTS. The four long-acting alpha-1 blockers that were approved by the US Food and Drug Administration (FDA) for the treatment of symptomatic LUTS associated with BPH are terazosin, doxazosin, tamsulosin, and alfuzosin.
Most of the vendors are focusing on developing drugs through alpha-blockers MOA. For instance, Astellas Pharma Europe is developing placebo tamsulosin hydrochloride OCAS 0.4 mg, which is currently in Phase III stage and is expected to fuel the market during the forecast period.
- Astellas Pharma
- Eli Lilly
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