Major players in the benign prostatic hyperplasia (BPH) treatment devices and equipment market are Karl Storz, Lumenis, Olympus, Urologix and Boston scientific Inc. The global benign prostatic hyperplasia (bph) treatment devices and equipment market is expected to decline from $4.
New York, Sept. 16, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Benign Prostatic Hyperplasia (BPH) Treatment Devices And Equipment Global Market Report 2020-30: Covid 19 Impact and Recovery" - https://www.reportlinker.com/p05967835/?utm_source=GNW
5 billion in 2019 to $4.1 billion in 2020 at a compound annual growth rate (CAGR) of -8.8%. The decline is mainly because of worldwide supply and demand mismatches of resources due to the COVID-19 outbreak. There is an inadequate production of nephrology and urology devices due to the restrictions imposed by governments of various countries to shutdown factories or function with minimal staffing to contain the spread of virus and keep the staff safe. The market is then expected to recover and grow at a CAGR of 4.3% from 2021 and reach $5.3 billion in 2023.
The benign prostatic hyperplasia (BPH) treatment devices and equipment market consists of sales of benign prostatic hyperplasia (BPH) treatment devices and equipment and related services. Benign prostatic hyperplasia or benign prostatic hypertrophy is a condition of an enlarged prostate gland which causes blockade of urethra, the tube that carries urine from the bladder. The market is segmented into resectoscopes, radiofrequency ablation device, urology lasers, prostatic stents and implants.
In 2018, Boston Scientific acquired NxThera for an upfront cash payment of $306 million, and up to an additional $100 million in potential commercial milestone payments over the next four years. This acquisition will strengthen Boston’s already existing urology and pelvic health portfolio range. The acquisition of NxThera would be the best fit along with Boston Scientific’s laser therapy systems for the treatment of symptomatic BPH such as the Greenlight XPSTM Laser Therapy system and holmium platforms. NxThera, Inc.is involved in the manufacturing of medical devices to treat patients suffering from urologic conditions such as benign prostatic hyperplasia (BPH), prostate cancer, and kidney cancer. It was founded in 2008 and is headquartered in Minnesota, USA.
The side effects suffered by the patients after a BPH procedure is one of the major restraints for BPH device and equipment market. For example, most common side effects of a BPH surgery includes, urinary incontinence, discomfort during urination and difficulty in completely emptying the bladder. The patients suffering from BPH does not prefer surgical procedures (till the stage it can be avoided) due to these side effects, therefore decreasing the demand of surgical procedures, which in turn limits the demand for devices used by end users like hospitals, clinics and ambulatory surgical centers.
Prostatic Astery Embolization (PAE) is one of the latest developments in the market for Benign Prostatic Hyperplasia (BPH) treatment device and equipment. PAE is a minimally invasive treatment that assists in reducing the symptoms observed in urinary tract. The PAE procedure is done using X-rays and other advanced imaging to observe the tumor inside the body and accordingly treat it without any surgery. This technique results in reduced complication in the treatment of BPH and thus is said to be a major development in the market of BPH treatment. Leading companies such as Boston scientifics, UNC healthcare, and Spire healthcare have been investing in the market for PAE.
Product recall is a process of retrieving all faulty and defective products that have been sold or are available in the market. When a company recalls a product from the market, the company bears all the cost of fixing the defective product and cost of replacement. This cost of replacement for large companies can go up to multi-million dollar, hence restraining the growth of the company and for the whole market as well. Product recall is one of the major hurdles for any market, Benign Prostatic Hyperplasia (BPH) Treatment Devices and Equipment market is no exception. For example, in the year 2019, Procept BioRobotics Corporation recalled its AquaBeam Handpiece, a part of its AquaBeam Robotic System due to the possibility of developments of internal leak because of micro-cracks in specific weld joints within the product device. Also, in the year 2017, NXTHERA recalled its products like Rezum Systems and Vapor BPH Ablation System as the Needle Bond was not able to withstand the force when the needle was injected into and retracted from the prostate tissue in the treatment.
Benign Prostatic Hyperplasia (BPH) also called Prostate Gland Enlargement (PGE), is a condition where patient suffers from uncomfortable urinary symptoms. Due to rising prevalence of Benign Prostatic Hyperplasia (BPH), demand for the BPH treatment devices and equipment’s is on a steady rise as the number of BPH cases increases the demand for devices will also increase. For example, in the USA by 2018, more than 8 million men are suffering from Benign Prostatic Hyperplasia (BPH) and globally around 22 million men have been diagnosed with moderate to severe symptoms of BPH. Therefore, with number of BPH cases on the steady rise, the demand for BPH treatment devices and equipment is also expected to grow.
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