Drugs For Benign Prostatic hypertrophy Global Market Report 2023
Major players in the drugs for benign prostatic hypertrophy market are Allergan PLC, AstellasPharma Inc., BoehringerIngelheim, Eli Lilly and Company, GlaxoSmithKline PLC, Teva Pharmaceutical Industries Limited, Sanofi, Nymox Pharmaceutical Corporation and AEternaZentaris Inc.
New York, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Drugs For Benign Prostatic hypertrophy Global Market Report 2023" - https://www.reportlinker.com/p06245031/?utm_source=GNW
The global drugs for benign prostatic hypertrophy market will grow from $6.45 billion in 2022 to $6.86 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The drugs for benign prostatic hypertrophy market is expected to grow to $8.18 billion in 2027 at a CAGR of 4.5%.
The drugs for benign postratic hypertrophy market consists of sales of alfuzosin (Uroxatral), doxazosin (Cardura), tamsulosin (Flomax) and silodosin (Rapaflo).Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The drug benign prostatic hypertrophy refers to benign prostatic hypertrophy drugs that are used to treat enlarged prostate glands by relaxing bladder neck muscles and muscle fibers in the prostate, making urination easier. Benign Prostatic Hypertrophy is commonly seen in men older than age 50.
North America was the largest region in the drugs for benign prostatic hypertrophy market in 2022.Middle East is expected to be the fastest growing region.
The regions covered in the drugs for benign prostatic hypertrophy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of drugs for benign prostatic hypertrophy are alpha-blockers, 5-alpha reductase inhibitors, phosphodiesterase-5 inhibitors, and others.Alpha-blockers, commonly known as -blockers or -adrenoreceptor antagonists, are a type of pharmaceutical drug that works by blocking -adrenergic receptors.
The different sectors include hospital pharmacies, retail pharmacies, and others and are distributed through various channels such as hospital pharmacies, retail pharmacies, and online pharmacies.
The rising male geriatric population globally is driving the market for Benign Prostatic Hypertrophy drugs as the condition is commonly seen in men aged over 50 years. According to the United Nations’ 2019 World Population Ageing Report, the number of people aged 65 years or above was 703 million in 2019 and is expected to double to around 1.5 billion by 2050. According to the National Institute of Health (NIH), Benign Prostatic Hyperplasia affects around 50% of men aged between 51 and 60 years and up to 90% of men aged over 80 years.
Increasing adoption of minimally invasive surgeries due to advancements in technology is restraining the growth of the Benign Prostatic Hyperplasia drugs market.Minimally invasive surgeries cause less pain and are generally conducted on an outpatient basis.
This eliminates the need to consume Benign Prostatic Hyperplasia drugs, acting as a restraint on the market. Some of the minimally invasive surgeries used to treat Benign Prostatic Hyperplasia include laparoscopic prostatectomy, transurethral microwave thermotherapy (TUMT), and transurethral needle ablation (TUNA).
Combination drugs are increasingly being used in the treatment of Benign Prostatic Hypertrophy as they are more effective and help prevent disease progression.A combination drug includes two or more active pharmaceutical ingredients (APIs) combined in a single dosage form.
These drugs reduce the development of drug resistance, have fewer side effects, and low treatment failure rate. For instance, Duodart, a combination of dutasteride and tamsulosin hydrochloride is increasingly being prescribed for the treatment of Benign Prostatic Hypertrophy.
Benign prostatic hypertrophy drug manufacturers globally are regulated by various regulatory bodies.For instance, in the European Union, the EU legislation authorizes medicines based on quality, safety, and efficacy.
Companies are mandated to submit compliance documentation for suitable quality before applying for authorization. Manufacturers are required to demonstrate the safety and efficacy of drugs using clinical trials data which will be assessed by competent authorities before authorizing for sale.
The countries covered in the drugs for benign prostatic hypertrophy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The drugs for benign prostatic hypertrophy market research report is one of a series of new reports that provides drugs for benign prostatic hypertrophy market statistics, including drugs for benign prostatic hypertrophy industry global market size, regional shares, competitors with drugs for benign prostatic hypertrophy market share, detailed drugs for benign prostatic hypertrophy market segments, market trends and opportunities, and any further data you may need to thrive in the drugs for benign prostatic hypertrophy industry. This drug for benign prostatic hypertrophy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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