GlaxoSmithKline PLC (US) and Teleflex Incorporated (US) are the Key Players in the Benign Prostatic Hyperplasia Treatment Market
The benign prostatic hyperplasia treatment market is projected to reach USD 14.1 billion by 2026 from USD 10.8 billion in 2021, at a CAGR of 5.3% from 2021 to 2026. Benign prostatic hyperplasia (BPH) is defined as a medical condition affecting men. It involves the non-cancerous enlargement of the prostate gland. While BPH rarely shows symptoms before the age of 40, the risk of contracting BPH increases with age. The condition affects nearly 50% of men between the ages of 51 and 60 and up to 90% of men older than 80. Treatment measures such as medications and surgery have been used for patients with BPH.
The benign prostatic hyperplasia treatment market is a highly fragmented market and has presence of various players. The major players operating in this market are Boston Scientific Corporation (US), Coloplast Group (Denmark), Teleflex Incorporated (US), Olympus Corporation (Japan), GlaxoSmithKline PLC (UK), Eli Lilly (US), Pfizer, Inc. (US), Abbott (US), Asahi Kasei Corporation (Japan), Merck & Co., Inc. (US), Astellas Pharma Inc. (Japan), Allergan plc (Ireland), Alembic (India), IPG Photonics Corporation (US), Richard Wolf GmbH (Germany), Unilab, Inc. (Philippines), Pharex Health Corporation (Philippines), Biolitec AG (Austria), Urologix, LLC (US), Advin Health Care (India), Medifocus, Inc. (Canada), Asclepion Laser Technologies GmbH (Germany), Pnn Medical A/S (Denmark), Surgical Lasers Inc. (Canada). Quanta Systems (Italy), Allium Ltd. (Israel), Lumenis Ltd. (Israel), KARL STORZ SE & Co. KG (Germany), and SRS Medical (US).
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GlaxoSmithKline PLC (US)
GSK held the leading position in the global BPH drug treatment market in 2019. The company offers 5-ARIs (Avodart) and combination drugs (Jalyn and Duodart) to treat BPH symptoms. The company invests significantly in R&D activities, with more than 12,000 individuals dedicated towards R&D. In 2019, it invested USD 5.85 billion in R&D, which consisted of 13.6% of the company revenue. GSK showcases its products and participates in global events to increase its market visibility. The company has a strong presence in more than 95 countries across the Americas, Europe, the Middle East, Africa, and the Asia Pacific, with manufacturing units located in 13 countries.
Teleflex Incorporated (US)
Teleflex Incorporated held a significant position in the BPH surgical treatment market in 2019. Teleflex offers UroLift, a minimally invasive office-based solution that provides quick relief and recovery for men living with symptoms of an enlarged prostate. UroLift has been a part of the company’s Interventional Urology segment since the acquisition of NeoTract, the creator of UroLift, in 2017. Since the inclusion of UroLift in its portfolio, the company has taken measures to strengthen its presence in the market.
Related Reports:
Benign Prostatic Hyperplasia Treatment Market by Type [Drug (Alpha Blockers(Tamsulosin, Doxazosin), 5-Alpha Reductase Inhibitors (Finasteride, Dutasteride), Surgical Treatment (TURP, TUMT, TUNA], End User (Hospitals) - Global Forecast to 2026
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