The global prostate health market in terms of revenue was estimated to be worth $31.8 billion in 2021 and is poised to grow at a CAGR of 9.0% from 2021 to 2026.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=107055093
The prostate gland (the prostate) is an organ of the male reproductive system. The three most common forms of prostate disease are inflammation (prostatitis), non-cancerous enlargement of the prostate (benign prostatic hyperplasia or BPH), and prostate cancer. Benign prostatic hyperplasia (BPH) is defined as a medical condition affecting men. It involves the non-cancerous enlargement of the prostate gland. While BPH rarely shows symptoms before the age of 40, the risk of contracting BPH increases with age. The condition affects nearly 50% of men between the ages of 51 and 60 and up to 90% of men older than 80. Treatment measures such as medications and surgery have been used for patients with BPH.
The growth in the market is majorly driven by the increasing prevalence of benign prostatic hyperplasia, increasing obesity, investments, funds, and grants for research in BPH treatment, rising prevalence of prostate cancer, increasing demand for hormone therapy drugs, emerging therapies for prostate cancer, and the increasing incidence of prostatitis. Data from the Health Insurance Review and Assessment (HIRA) agency in 2018 revealed that nearly 7,600,000 patients were diagnosed with BPH in 2010, which increased by ~1.2 million in 2017. This represents an annual increase of about 7% and a total increase of 58% from 2010. Obesity and BPH are closely associated. Obesity leads to several mechanisms such as increased sympathetic nervous activity, altered endocrine status, increased intra-abdominal pressure, increased inflammation process, and oxidative stress, which are favorable conditions for the development of BPH. The incidence of prostate cancer increases with an increase in age. Prostate cancer is the most common type of cancer among men. According to the American Cancer Society’s estimates for prostate cancer in 2021, about 248,530 new cases and 34,130 deaths occurred in 2020 due to prostate cancer in the US. The prostate cancer phase III pipeline is diverse and includes molecules in approved drug classes as well as drugs with novel mechanisms of action, including radioligands targeted to prostate-specific membrane antigen (PSMA), kinase inhibitors, and immune checkpoint inhibitors.
Neurostimualtion devices to register the highest share in the type market
Based on disease indication, the prostate health market is segmented into prostate cancer, benign prostate hyperplasia, and prostatitis. In 2020, prostate cancer accounted for the largest share in the prostate health market. Typically, hormone therapy is considered an effective option as the first line of treatment for prostate cancer. Cancer vaccines, radiopharmaceutical agents, secondary hormone therapies, or chemotherapies follow hormonal therapy as treatment options. Cancerous cells are found to be developing a resistance to these therapies after some months, as a result of which immunotherapies are expected to be adopted widely for the treatment of prostate cancer in the near future.
North American prostate health market to dominate the market during the forecast period
North America dominated the prostate health market in 2020 and is expected to grow at an 7.6% CAGR during the forecast period. North America has been among the frontrunners in developing prostate health therapies in the healthcare industry. The market growth in the US (a major contributor to the North American prostate health market) can be mainly attributed to the growing target population, the high incidence of BPH, prostate cancer, and prostatitis, and the strong presence of medical device manufacturers. Additionally, favorable reimbursement policies, high disposable incomes, a strong healthcare infrastructure, research funding, and product launches have accelerated the growth of this market.
Some of the prominent players operating in the prostate health market are Eli Lilly and Company (US), Pfizer Inc. (US), Merck Co., Inc. (US), GlaxoSmithKline plc. (UK), Abbott (US), and Astellas Pharma Inc. (Japan), and other players.
Related Reports:
Medical Lasers Market Companies
Transfection Technologies Industry
Pharmacogenomics Industry Size
Healthcare Workforce Management System Industry Share
Autologous Stem Cell Non-stem Cell Therapies Industry Growth
Tissue Diagnostics Growth Rate
Cell Expansion Industry Analysis
Refurbished Medical Equipment Industry Forecast
Dental Digital X-ray Industry Statistics
Biotechnology Contract Manufacturing Market Size
Incontinence Care Products (ICP) Market Share
Continuous Bioprocessing Market Growth
Medical Stick-to-Skin Adhesives Market Analysis
Medical Lasers Market Forecast
