Benign Prostatic Hyperplasia Surgical Devices Market by product type – Trends and Forecast to 2025
The global Benign Prostatic Hyperplasia Surgical Devices Market by product type (Resectoscopes, Radiofrequency Ablation Devices, Urology Lasers, Prostatic Stents, Implants, and Others), end user (Hospitals and Ambulatory Surgery Centers) and region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa)was valued at US$ 375.9 million in 2016 and is projected to exhibit a CAGR of 7.5% over the forecast period (2017 – 2025), as highlighted in a new report published by Coherent Market Insights. Introduction of minimally invasive therapies such as implants, transurethral needle ablation (TUNA), prostatic artery embolization (PAE) is expected to attract the majority of the patients, who are currently opting for drugs, which in turn is expected to boost the growth of benign prostatic surgical devices market.
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The lucrative benign prostatic surgical devices market has witnessed multiple mergers, acquisition and product launches in recent years and the company involved in these activities varies from leading medical devices companies such as Medtronic Plc, Boston Scientific Corporation and Olympus Corporation to innovative startups such as NeoTract, Inc., and ProArc Medical. In 2011, Urologix, Inc. and Medtronic Plc struck a deal, as a part of which Urologix, Inc., received license for Prostiva. Urologix is a company focused on benign prostatic hyperplasia therapy. In 2016, Urologix, Inc. sold its assets to private buyer following default on debt to be paid to Medtronic Plc.
In 2015, Boston Scientific Corporation acquired the male urology portfolio of American Medical Systems, which had generated more than US$ 100 million in last few years from devices for the treatment of benign prostatic hyperplasia. The company had various products for BPH in their portfolio including popular laser devices such as GreenLight HPS and GreenLight XPS laser therapy.
Browse 27 Market Data Tables and 22 Figures spread through 167 Pages and in-depth TOC on Benign Prostatic Hyperplasia Surgical Devices Market by Product Type (Resectoscopes, Radiofrequency Ablation Devices, Urology Lasers, Prostatic Stents, Implants and Others), End User (Hospitals and Ambulatory Surgery Centers) and Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) – Global Forecast to 2025
NoeTract, Inc. received CE approval for its product, UroLift Systems in 2010 and de novo 510(k) approval from U.S. FDA in 2013. Another implant manufacturer, ProArc Medical is awaiting CE approval for its product, ClearRing. In June 2017, Merit Medical Systems, Inc. manufacturer of disposable devices received FDA approval for benign prostatic hyperplasia for its product, Embosphere Microspheres. In May 2017, NxThera, Inc., a manufacturer of radiofrequency devices for benign prostatic hyperplasia announced that the product, Rezūm System has been used to treat more than 10,000 patients suffering from the disease across the U.S. and Europe.
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Key Takeaways of the Benign Prostatic Hyperplasia Surgical Devices Market:
The global benign prostatic hyperplasia surgical devices market is expected to exhibit a CAGR of 7.5% over the forecast period (2017 – 2025), owing to development and adoption of minimally invasive therapies such as implants in developed economies such as U.S., UK, and Germany and increased adoption for the technology such as laser therapy in emerging economies such as India, China, and Brazil
Ambulatory surgery centers is expected to be the prime destination for people suffering from benign prostatic hyperplasia due to the development of minimally invasive therapies, which do not require hospitalization of the patients
North America is expected to continue its dominance during the forecast period (2017-2025) as adoption rate for the innovative products such as radiofrequency devices, implants, and others is expected to increase.
The market has witnessed multiple mergers and acquisitions in recent years and the trend is expected to continue during the forecast period as most of the companies developing innovative products such as radiofrequency devices are small and would require marketing and manufacturing support in near future
Major players operating in the benign prostatic hyperplasia surgical devices market include Olympus Corporation, Boston Scientific Corporation, Medifocus Inc., KARL STORZ SE & Co. KG, NxThera, Inc., ProArc Medical, Lisa Laser Products OHG, and Richard Wolf Gmbh.
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