Benign Prostatic Hyperplasic Devices Market is expected to reach US$ 3,467.31 Million by 2028

Resectoscopes Segment to Lead Benign Prostatic Hyperplasic Devices Market During 2022–2028

According to our latest study, "Benign Prostatic Hyperplasic Devices Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, Procedure Type, and End User," the market is expected to grow from US$ 2,078.78 million in 2021  to US$ 3,467.31 million by 2028; it is estimated to grow at a CAGR of 7.6% from 2022 to 2028.

The report highlights the key factors driving the market and prominent players with their developments. The growth of the benign prostatic hyperplasic devices market is primarily attributed to the rise in the prevalence of benign prostatic hyperplasia among men, increasing risk factors, and a rise in investments, funds, and grants for research in BPH treatment. However, less awareness about prostate health among men is hampering the market's growth to a certain extent.

The companies engaging in the benign prostatic hyperplasic devices market witnessed a negative impact on their services in early 2020 due to the temporary shutdown of their manufacturing sites caused by the COVID-19 pandemic. Most service providers prioritized actions to help the critical work of consumers included in COVID-19, such as giving a range of high-quality COVID-19-related research tools, reassigning R&D resources for producing essential products for COVID-19, expanding the supply chain, providing flexibility to support expanded demand for enduring products applied for COVID-19 research, and entering into discussions and collaborations across the UK, the US, and China concentrated on SARS-CoV-2 diagnostics, drugs, and vaccines development. Surgical procedures such as TURP, HoLEP, ThuLEP, and PVP were postponed because of COVID-19. According to a recent study, nearly 2.5 million urological benign surgeries were estimated to be canceled during the peak of disruption by COVID-19. However, the number of alternative surgical procedures increased. For instance, laser treatment can be adopted by additional surgery centers and other outpatient facilities not focused on COVID-19 patients.

Based on product, the benign prostatic hyperplasic devices market is segmented into resectoscopes, urology laser, radiofrequency ablation devices, prostatic stents, and implants. In 2021, the resectoscope segment held the largest market share and is estimated to grow at the fastest CAGR of 7.4% during the forecast period. The largest share of this segment is due to the technological developments and rise in product approvals for benign prostatic hyperplasic devices. For instance, in 2020, IceCure Medical announced that the Central Drugs Standard Control Organisation (CDSCO)—an Indian regulatory authority, had granted a license for the sale and marketing of IceCure's ProSense system and associated products for the destruction of tissue by cryoablation in extensive indications, including breast, lung, bone, and kidney cancer. Frozen tissue samples are majorly designed to diagnose and treat various types of cancers. At the same time, new candidates are also being explored for other indications such as infectious diseases and central nervous system disorders. For instance, BioChain offers ready-to-use, next-generation sequencing (NGS) characterized tissue samples for BReast CAncer gene 1(BRCA1), BReast CAncer gene 2 (BRCA2), Microsatellite Instability (MSI), HPV, Epidermal Growth Factor Receptor (EGFR), and Kirsten rat sarcoma virus (KRAS), developing the new mutation-specific bio-samples in response to the growing need and demand from researchers for oncology researchers studying pathways related to BRCA1 and BRCA2. The factors mentioned above are propelling the growth of the benign prostatic hyperplasic devices market.

KARL STORZ SE & Co., KG; Richard Wolf GmbH; Olympus Corporation; Urologix, LLC.; Boston Scientific Corporation; Butterfly; TELEFLEX Incorporated; OmniGuide Holdings, Inc.; Convergent Laser Technologies; ProArc; and Olympus Corporation are a few leading companies operating in the benign prostatic hyperplasic devices market.

Benign Prostatic Hyperplasic Devices Market, by Geography, 2021 (%)

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Benign Prostatic Hyperplasia Devices Market Size, Share | 2028

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Benign Prostatic Hyperplasic Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Resectoscopes, Urology Lasers, Radiofrequency Ablation Devices, Prostatic Stents, and Implants), Procedure Type (Transurethral Microwave Therapy, Transurethral Resection of the Prostate, Transurethral Needle Ablation of the Prostate, Laser Surgery, Urolift Surgery, and Others), and End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Others), and Geography

The report segments the benign prostatic hyperplasic devices market as follows:

Based on product, the benign prostatic hyperplasic devices market is segmented into resectoscopes, urology laser, radiofrequency ablation devices, prostatic stents, and implants. Based on procedure type, the market is segmented into transurethral microwave therapy, transurethral resection of the prostate, transurethral needle ablation of the prostate, laser surgery, urolift surgery, and others. Based on end user, the market is segmented into hospitals, clinics, ambulatory surgical centers, and others. By geography, the benign prostatic hyperplasic devices market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, Africa, and the Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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