The global benign prostatic hyperplasia therapeutics market is expected to witness significant growth, as increased number of effective treatments are available for cancer. Increasing awareness regarding various cancer treatment drugs, technological advancements, and growing demand for safe and effective medications are acting as the major growth drivers for the benign prostatic hyperplasia therapeutics market. Globally, regulatory bodies are adding to the growth of the market with provision of funding, grants and designations. Thus, these regulatory bodies are amplifying the drug development process.
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Benign prostatic hyperplasia is also known as benign prostatic obstruction or benign prostatic hypertrophy, is a disease state in men, caused by prostate gland enlargement. Prostate develops in dual phase in entire life – the first phase occurs in initial phase of puberty, followed by the second phase that usually begins at the age of twenty-four and remains for most of a person’s life. Benign prostatic hyperplasia is a common problem in men aged above 50 years, and it occurs in the second phase of growth of prostate. However, the disease can also arise in men aged below 40 years, with the probabilities of its occurrence increasing with age.
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Benign prostatic hyperplasia therapeutics market is majorly being driven by growing aging population around the world. Accessibility of diverse treatment procedures to treat BPH and increasing prevalence rates are expected to drive the global market, in the future. Increase in incidence rate of benign prostatic hyperplasia and growing healthcare awareness among is also likely to drive the demand for benign prostatic hyperplasia therapeutics. Thus, the market is projected to observe a strong growth rate over the forecast period.
Aging population is the major factor on which the benign prostatic hyperplasia therapeutics market is mostly dependent. Asia-Pacific and European markets for benign prostatic hyperplasia therapeutics are likely to observe significant growth rates, during the forecast period, due to increase in aging population in these regions. The Latin American and North American markets for benign prostatic hyperplasia therapeutics are also projected to observe strong growth rates, during the forecast period.
Some of the key players operating in the global benign prostatic hyperplasia therapeutics market include Sandoz, Inc., Sanofi Aventis, Labopharm, Inc., Pfizer, Inc., and Teva Pharmaceuticals, Inc.
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