DUBLIN--(BUSINESS WIRE)--The "Drugs For Benign Prostatic hypertrophy Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.
The global drugs for benign prostatic hypertrophy market was valued at about $4.03 billion in 2018 and is expected to grow to $5.65 billion at a CAGR of 8.8% through 2022.
The drugs for benign prostatic hypertrophy market consists of sales of benign prostatic hypertrophy drugs to treat enlarged prostate glands. Benign Prostatic Hypertrophy is commonly seen in men older than age 50.
North America was the largest region in the drugs for benign prostatic hypertrophy market in 2018, followed by Europe and Asia Pacific. This region is expected to remain the largest during the next five years. The drugs for benign prostatic hypertrophy market in Asia Pacific is forecasted to register the highest CAGR during 2018-2023.
The rising male geriatric population globally is driving the market for Benign Prostatic Hypertrophy drugs as the condition is commonly seen in men aged over 50 years. According to the United Nations' 2017 World Population Ageing Report, the number of people aged 60 years or above was 962 million in 2017 and is expected to double to around 2.1 billion by 2050. According to the National Institute of Health( NIH), Benign Prostatic Hyperplasia affects around 50% of men aged between 51 and 60 years and up to 90% of men aged over 80 years.
Increasing adoption of minimally invasive surgeries due to advancements in technology is restraining the growth of Benign Prostatic Hyperplasia drugs market. Minimally invasive surgeries cause less pain and are generally conducted on an outpatient basis. This eliminates the need to consume Benign Prostatic Hyperplasia drugs, acting as a restraint on the market. Some of the minimally invasive surgeries used to treat Benign Prostatic Hyperplasia include laparoscopic prostatectomy, transurethral microwave thermotherapy (TUMT) and transurethral needle ablation (TUNA).
Combination drugs are increasingly being used in the treatment of Benign Prostatic Hypertrophy as they are more effective and help prevent disease progression. A combination drug includes two or more active pharmaceutical ingredients (APIs) combined in a single dosage form. These drugs reduce the development of drug resistance, have fewer side effects and low treatment failure rate. For instance, Duodart, a combination of dutasteride and tamsulosin hydrochloride is increasingly being prescribed for the treatment of Benign Prostatic Hypertrophy.
Benign prostatic hypertrophy drugs manufacturers globally are regulated by various regulatory bodies. For instance, in the European Union, the EU legislation authorizes medicines based on quality, safety, and efficacy. Companies are mandated to submit compliance documentation for suitable quality before applying for authorization. Manufacturers are required to demonstrate safety and efficacy of drugs using clinical trials data which will be assessed by competent authorities before authorizing for sale.
Major players in the market are Allergan PLC, Astellas Pharma Inc., Boehringer Ingelheim, Eli Lilly and Company, GlaxoSmithKline PLC
Other Companies Mentioned
- Teva Pharmaceutical Industries Limited
- Nymox Pharmaceutical Corporation
- AEternaZentaris Inc.
- Pfizer Inc.
- IntelGenx Technologies Corp.
- Ipsen S.A.
- Novartis AG
- Protox Therapeutics Inc.
- Valeant Pharmaceuticals Inc.
- Bayer AG
- Quest PharmaTech Inc.
- Bristol-Myers Squibb and Company
- Indevus Pharmaceuticals Inc.
- Kaken Pharmaceutical Co. Ltd.
- Impax Laboratories Inc.
- GemVax & KAEL Co. Ltd.
- Merck & Co. Inc.
- Kissei Pharmaceuticals Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/di89nk