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

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 global benign prostatic hyperplasic devices market is expected to US$ 2,078.78 million in 2021 to US$ 3,467.31 million by 2028; it is expected to grow with a CAGR of 7.6% from 2022 to 2028.

An increase in the prevalence of benign prostatic hyperplasia along with growing risk factors and a rise in investments, funds, and grants for research in BPH treatment boost the global benign prostatic hyperplasic devices market growth.

Benign prostatic hyperplasia (BPH) is a prostate enlargement caused by excessive cell growth in the prostate. BPH is a benign (non-cancerous) prostate condition. Non-cancerous conditions are not usually fatal and do not spread (metastasize) to other body parts. BPH doesn't raise the risk of prostate cancer; unless it manifests symptoms, BPH isn't considered a health issue. Almost all men will have some prostate growth by the age of 70. Getting older, having more belly fat (also known as abdominal obesity), and not getting enough exercise to raise the risk of developing BPH.

Players operating in the benign prostatic hyperplasic devices industry focus on investing high amounts in the development of advanced surgical technologies as alternatives to conventional techniques. Advanced devices enabled with new technologies help provide immediate relief and reduce morbidity.
In January 2022, ProVerum, a start-up supported by EIT Health, received US$ 31.22 million in Series A funding from Gilde Healthcare, Lightstone Ventures, and Atlantic Bridge. ProVerum, an Irish company, has developed ProVee, a cutting-edge treatment solution for men with symptomatic BPH. The company aims to market its innovative device in the US and Europe with the help of recent funding.
In June 2021, Zenflow, Inc., a medical device company developing a minimally invasive treatment for urinary obstruction caused by BPH or enlarged prostate, declared the completion of its Series B funding round with a total of US$ 24 million. The investment was led by Invus Opportunities and included participation from Medical Technology Venture Partners, F-Prime Capital, CloudStone Capital, Astia Angels, Golden Seeds, SV Tech Ventures, etc.
In June 2021, Procept Biorobotics raised US$ 85 million to commercialize the AquaBeam system as a global BPH treatment. With this product, the company intends to make an impact with its water-based robotic technology in the field of prostate surgery. The series G financing was led by Fidelity Management & Research Company, with additional backing from T. Rowe Price Associates, CPMG, Perceptive Advisors, Viking Global Investors, and Duquesne Family Office.
In July 2019, Medeon Biodesign, Inc, a publicly traded Taiwan medical device company, announced that it recently led and closed an investment in Prodeon. Prodeon is a Taiwan-based company offering a simple, office-based treatment option for patients who need quick relief from LUTS caused due to BPH.
In April 2018, ProVerum Medical closed a US$ 4.2 million seed investment, with Atlantic Bridge University Fund leading the investment round. With this investment, the company aims to commence its first human trials of its product for BPH treatment. This product includes a nitinol implant to dilate the prostatic urethra without altering the structure of the prostate anatomy. The nitinol implant can be manufactured to a small size to simplify the process of implantation through a 10–15-minute long minimally invasive surgery.
In February 2018, Zenflow, a medical device company based in San Francisco, California, announced a US$ 31.4 million Series A investment round for further advancements in its minimally invasive technique for treating BPH or an enlarged prostate.

Product-Based Insights

Based on the product, the benign prostatic hyperplasic devices market is segmented into resectoscopes, radiofrequency ablation devices, urology lasers, prostatic stents, and implants. The resectoscopes segment is likely to hold the largest market share in 2022. However, the urology lasers segment is anticipated to register the highest CAGR during the forecast period due to the high demand by physicians and the rising initiatives of market players in the launch and product expansion.

Procedure Type Insights

Based on procedure type, the benign prostatic hyperplasic devices market is segmented into transurethral microwave therapy, transurethral resection of the prostate, transurethral needle ablation of the prostate, laser surgery, urolift surgery, and others. In 2022, the transurethral resection of the prostate segment is likely to hold the market's largest share. Furthermore, the same segment is expected to witness growth in its demand at the fastest CAGR from 2022 to 2028, owing to its visual, hands-on access to the prostate, ability to the immediate removal of excess tissue, the ability of transurethral resection of the prostate (TURP) to combine with other procedures.

End User-Based Insights

Based on end user, the benign prostatic hyperplasic devices market is segmented into hospitals, clinics, ambulatory surgical centers, and others. In 2022, the hospitals segment is likely to hold the largest share of the market. Moreover, the clinics segment is expected to witness growth in its demand at the fastest CAGR from 2022 to 2028, owing to an increase in the number of clinics at a lower cost for treatment, easy accessibility, and flexibility with the short waiting time.

National Center for Biotechnology Information (NCBI), National Library of Medicine, Indiana University School of Medicine, Centers for Disease Control and Prevention (CDC), Canadian Risk Factor Atlas (CRFA), World Bank, Urology Foundation, International Diabetes Federation (IDF), National Statistics Institute (INE), National Medica Device Promotion Council, International Trade Administration, Department of Emergency Medicine are among the primary and secondary sources referred to while preparing the report on the benign prostatic hyperplasic devices market.

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