The global Prostate Health Market is anticipated to reach US$ 92.9 billion in 2033, from US$ 38.6 billion in 2023, with a CAGR of 9.2% from 2023 to 2033.
The following factors are projected to drive higher demand for prostate health solutions:
While BPH (Benign Prostate Hyperplasia) rarely causes symptoms before the age of 40, the disease's risk increases as one get older. Nearly half of the males between the ages of 51 and 60 are affected, while up to 90% of men over 80 are affected. Patients with BPH have received treatment in the form of medicines and surgery.
| Attributes | Details |
|---|---|
| Prostate Health Market CAGR (2023 to 2033) | 9.2% |
| Prostate Health Market (2033) | US$ 92.9 billion |
| Prostate Health Market Attraction | Awareness about the symptoms of BPH to drive the growth of the prostate health market |
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According to a recent survey, global prostate cancer is growing at a rate of 7% each year. Factors such as rapidly evolving lifestyles, obesity, and other unhealthy practices have been bolstering the prevalence of diseases such as Benign Prostatic Hyperplasia (BPH). Globally, the geriatric population has been growing tremendously. As age increases, men can be at greater risk of developing prostate-related illnesses such as prostate cancer. In recent times, prostate cancer has become one of the most prevalent cancers among men. This has led to the development of innovations such as the prostate cancer phase III pipeline. This includes prostate-specific membrane antigen targeting as well as the development of kinase and immune checkpoint inhibitors.
Several surgical and drug treatment options are available for Benign Prostatic Hyperplasia (BPH). However, time and again these treatment modalities have been associated with an array of potential side effects. This may include orthostatic hypotension, retrograde ejaculation, rhinitis, dizziness, impotence, and waning libido. This is primarily because Benign Prostatic Hyperplasia medications generally contain alpha-blockers, and 5-ARIs (5-alpha reductase inhibitors). Furthermore, Benign Prostatic Hyperplasia drug interactions have also been observed with neuroactive steroids, which might result in psychological issues.
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Between 2017 and 2022, the market recorded a CAGR of 11.3%. This was primarily due to the high rate of diagnostics, screening, and tests prevalent during this period. In comparison, the rate of diagnostics and tests determining prostate health has significantly waned at the onset of the forecast period. This is anticipated to impact the CAGR of the market between 2023 and 2033. However, the testing and diagnostics rate could steadily pick up pace towards the middle and end of the forecast period, given the favorable circumstances.
Short Term (2023 to 2026): In the initial phase, the market could experience a slight spur. This can be attributed to the rising prevalence of prostate cancer and increased public knowledge about prostate cancer therapy. This is further fueled by the rising availability of novel medications and prostate cancer therapies. Furthermore, current reports of a high prevalence of BPH, prostate cancer, and prostatitis are rising. There is a strong presence of medical device makers, emerging as critical contributors to market expansion in developed markets.
Mid Term (2026 to 2029): Favorable reimbursement regulations, high disposable incomes, a solid healthcare infrastructure, research funding, and product releases could aid market growth during this phase. Further innovations have led to the adoption of immunotherapy for targeted prostate cancer treatment. This could find wide utility in the mid-term.
Long Term (2029 to 2033): Steady rise in the prevalence of prostate diseases coupled with higher awareness and treatment innovations could consolidate market prospects in the long run. Furthermore, developing markets are expected to emerge as key market stakeholders. This is driven by the consistent growth of healthcare infrastructure in these regions.
During the current forecast period, the market is anticipated to record a CAGR of 9.2%, and attain a valuation of US$ 92.9 billion by 2033.
The market is being driven ahead by demand for hormone treatment medications, developing therapeutics for prostate cancer, and the increased incidence of prostatitis.
Key Drivers:
Prostate cancer caused roughly 248,530 new cases and 34,130 deaths in the United States in 2020, according to the American Cancer Society's predictions for 2021. Prostate cancer cases are on the rise, increasing market demand for prostate health supplements.
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While both medicines and surgery can treat BPH, both have severe adverse effects. Alpha-blockers, 5-ARIs (5-alpha reductase inhibitors), and other medication groups are routinely used to treat BPH.
Dizziness, orthostatic hypotension, retrograde ejaculation, and rhinitis are all common side effects of alpha-blockers. Dizziness and orthostatic hypotension are more common in the elderly, leading to severe complications, such as falls and accidents.
These medications also suppress the manufacture of certain neuroactive hormones, but they may cause depression by modulating the neuroendocrine stress response. Gynecomastia, impotence, decreased libido, and ejaculate volume is among the adverse effects of 5-ARIs.
Emerging economies in diverse countries with significant healthcare spending and physician awareness open the market to a variety of opportunities.
Emerging economies (such as China, India, Brazil, and Mexico) are likely to provide considerable growth prospects for market competitors in the next few years.
Key growth Opportunities for the market in developing nations are:
A substantial patient population for benign prostatic hyperplasia can be found throughout the Asia Pacific region. Particularly in Japan, China, South Korea, and Hong Kong, as the number of geriatric adults is at high risk for these target indications. Hence, prominent and rising prostate health product manufacturers are increasingly focusing on extending their companies across emerging Asia Pacific countries.
BPH is frequently misdiagnosed as an untreatable symptom of aging rather than a disorder managed by visiting a urologist.
Due to a lack of awareness about the signs and symptoms of BPH, men can go misdiagnosed, thereby worsening the damage to the prostate. Moreover, undergoing clinical diagnosis for a prostate health check is something that many men still shy away from. Hence, market players have been attempting to increase diagnosis rates through easy at-home diagnosis kits and online appointment facilities.
The growing incidence of benign prostatic hyperplasia, obesity, investment opportunities, resources, and cancer are all driving the prostate health market share forward.
Prostate cancer, benign prostate hyperplasia, and prostatitis are the three disease indications that make up the prostate health industry. Prostate cancer is likely to hold the most significant share of the prostate health market in 2023. Hormone therapy is generally thought to be an impactful first-line treatment for prostate cancer.
Following hormonal therapy, cancer vaccines, radiopharmaceutical agents, secondary hormone therapies, prostate health capsules, or chemotherapies are used as alternative therapies. Due to the discovery that cancerous cells build immunity to these medicines immunotherapies are predicted to be widely embraced in coming years. Due to a lack of understanding about the clinical manifestations of prostate health meaning and symptoms, men can go misdiagnosed. This could worsen the symptoms of the disease.
North America has been a pioneer in developing prostate health supplements in the medical sector. The rising target demographic, the high proportion of BPH, prostate cancer, and prostatitis, and the significant influence of medical device makers contribute to the higher growth in the United States.
Supportive regulations, high disposable earnings, solid healthcare infrastructure, and funding for research, are factors propelling the market growth.
The prostate cancer segment is expected to have a significant market share in the global prostate health market by 2033. Currently, the prostate cancer segment dominates the market and is projected to expand at a CAGR of 8.8% between 2023 and 2033.
The increasing rise in the number of instances of prostate cancer presents enormous prospects for market participants.
The key industry players are focused on research and development to deliver innovative and genuine prostate therapies to the prostate health market. Innovative technologies in screening and diagnostic testing for prostate diseases are projected to drive market expansion. The use of multiparametric MRI (MP-MRI) can significantly improve tumor detection.
Due to the rise in the prevalence of prostate cancer, globally, the hormone therapy segment could expand lucratively during this period. Hormone therapy is finding wide adoption for cancer treatment since it has been found effective in reducing relapse of the disease. Several innovations such as antiandrogens as well as luteinizing hormone-releasing hormone antagonists are being introduced to aid the segment’s growth. Since prostate cancer treatment is one of the most revenue-producing segments of the market, hormone therapy follows closely.
North America dominated the prostate health market in 2023, and the region is predicted to rise at a 7.6% CAGR by 2033. North America has been a leader in developing prostate health therapies in the medical field.
There is a rising target population, a high incidence of BPH (prostate problems in older men), prostate cancer, and prostatitis, and the strong presence of medical device manufacturers in the United States (a significant contributor to the North American prostate health market).
The United States prostate health market is anticipated to capture a CAGR of 9.0% to attain a valuation of US$ 32.9 billion by 2033.
Factors favoring the North American market are:
In the current decade, Europe has emerged as one of the global leaders in providing prostate cancer therapies. Much like North America the region has also been experiencing a surge in prostate cancer and related ailments. Hence, the production and sales of targeted prostate treatment drugs such as Zytiga and Xtandi have steadily grown. Further, the region has a large geriatric population necessitating focused health services. Hence, the United Kingdom is projected to be a lucrative market for prostate health products.
During the forecast period, the United Kingdom's prostate health market is anticipated to record a CAGR of 8.2% and expand to US$ 3.9 billion by 2033.
| Region | North America |
|---|---|
| Country | United States |
| CAGR | 9.0% |
| Market Value (2033) | US$ 32.9 billion |
| Region | Europe |
|---|---|
| Country | United Kingdom |
| CAGR | 8.2% |
| Market Value (2033) | US$ 3.9 billion |
| Region | Asia Pacific |
|---|---|
| Country | China |
| CAGR | 8.6% |
| Market Value (2033) | US$ 6.7 billion |
| Region | Asia Pacific |
|---|---|
| Country | South Korea |
| CAGR | 7.2% |
| Market Value (2033) | US$ 3.3 billion |
The introduction of the new and best prostate supplement is likely to substantially impact the prostate health market. A detailed understanding of disease pathogenesis is likely to aid in the development of new prostate cancer therapeutics.
These key players and academics in the prostate health market assess challenges and look for chances to improve prostate cancer research and development. Novel techniques to treat/improve the disease status focus on prostate cancer therapies in the prostate health market.
Recent Developments in the Prostate Health Market:
| Company | Butterfly Medical |
|---|---|
| Details | Butterfly Medical is an Israeli medical device manufacturer of innovative implantable devices. These find wide application in the treatment of Benign Prostatic Hyperplasia (BPH).The company is known for developing alternatives to traditional BPH treatments. |
| Recent Developments | Butterfly Medical, raised US$ 7 million in Series B financing in October 2020 to develop an anatomically designed nitinol implant positioned in the prostatic urethra to alleviate BPH symptoms. |
| Company | Zenflow |
|---|---|
| Details | Zenflow is a medical device company based in California. The company aims to fill the market gap for less invasive treatments related to BPH. |
| Recent Developments | Zenflow announced a US$ 31.4 million Series A funding round in February 2018 to continue its minimally invasive method to treat BPH. Its solution is a device that props open the urethra, effectively curing BPH symptoms without surgery or medicine. |
| Company | ProArc |
|---|---|
| Details | ProArc is an Israeli company developing minimally invasive solutions in urology. The company aims to radically alter the treatment landscape for BPH. |
| Recent Developments | ProArc Medical was awarded a US$ 2.2 million grant from the Horizon 2020 program as a part of the European Innovation Council pilot in July 2019. The two-year award is likely to fund the research and development of ProArc's ClearRing BPH implant, as well as its commercialization. |
| Start-up Company | Bastion Health |
|---|---|
| Country | United States |
| Description | To alleviate inhibitions surrounding prostate health, the startup has come up with several innovations. This includes home self-evaluation kits and easy telephone appointments. |
| Start-up Company | Nucleai |
|---|---|
| Country | United States |
| Description | Nucleai is known for developing software that amalgamates computer vision with machine-learning algorithms to detect prostate cancer. This can aid in reducing diagnosis errors and diagnostics time. The software deeply analyses patients’ medical records as well as genomics data for conclusive inferences. |
The global prostate health market is expected to register a CAGR of 9.2% from 2023 to 2033.
The size of the prostate health market is anticipated to be valued at US$ 92.9 billion by 2033.
The size of the prostate health market is projected to be US$ 38.6 billion in 2023.
North America region dominates the global prostate health market.
Currently, prostate cancer is the top segment by disease indication category.
1. Executive Summary | Prostate Health Market 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Investment Feasibility Matrix 3.6. PESTLE and Porter’s Analysis 3.7. Regulatory Landscape 3.7.1. By Key Regions 3.7.2. By Key Countries 3.8. Regional Parent Market Outlook 4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) Analysis, 2017 to 2022 4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Disease Indication 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) Analysis By Disease Indication, 2017 to 2022 5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Disease Indication, 2023 to 2033 5.3.1. Prostate Cancer 5.3.2. Benign Prostate Hyperplasia 5.3.3. Prostatitis 5.4. Y-o-Y Growth Trend Analysis By Disease Indication, 2017 to 2022 5.5. Absolute $ Opportunity Analysis By Disease Indication, 2023 to 2033 6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region 6.1. Introduction 6.2. Historical Market Size Value (US$ Million) Analysis By Region, 2017 to 2022 6.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033 6.3.1. North America 6.3.2. Latin America 6.3.3. Europe 6.3.4. Asia Pacific 6.3.5. Middle East and Africa 6.4. Market Attractiveness Analysis By Region 7. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 7.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2022 7.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 7.2.1. By Country 7.2.1.1. The USA 7.2.1.2. Canada 7.2.2. By Disease Indication 7.3. Market Attractiveness Analysis 7.3.1. By Country 7.3.2. By Disease Indication 7.4. Key Takeaways 8. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2022 8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 8.2.1. By Country 8.2.1.1. Brazil 8.2.1.2. Mexico 8.2.1.3. Rest of Latin America 8.2.2. By Disease Indication 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Disease Indication 8.4. Key Takeaways 9. Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2022 9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. Germany 9.2.1.2. United Kingdom(U.K) 9.2.1.3. France 9.2.1.4. Spain 9.2.1.5. Italy 9.2.1.6. Russia 9.2.1.7. Rest of Europe 9.2.2. By Disease Indication 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Disease Indication 9.4. Key Takeaways 10. Asia Pacific Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2022 10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. China 10.2.1.2. Japan 10.2.1.3. India 10.2.1.4. South Korea 10.2.1.5. Australia 10.2.1.6. Rest of APAC 10.2.2. By Disease Indication 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Disease Indication 10.4. Key Takeaways 11. Middle East and Africa Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2022 11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. South Africa 11.2.1.2. Saudi Arabia 11.2.1.3. UAE 11.2.1.4. Israel 11.2.1.5. Rest of MEA 11.2.2. By Disease Indication 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Disease Indication 11.4. Key Takeaways 12. Key Countries Market Analysis 12.1. USA 12.1.1. Pricing Analysis 12.1.2. Market Share Analysis, 2022 12.1.2.1. By Disease Indication 12.2. Canada 12.2.1. Pricing Analysis 12.2.2. Market Share Analysis, 2022 12.2.2.1. By Disease Indication 12.3. Brazil 12.3.1. Pricing Analysis 12.3.2. Market Share Analysis, 2022 12.3.2.1. By Disease Indication 12.4. Mexico 12.4.1. Pricing Analysis 12.4.2. Market Share Analysis, 2022 12.4.2.1. By Disease Indication 12.5. Germany 12.5.1. Pricing Analysis 12.5.2. Market Share Analysis, 2022 12.5.2.1. By Disease Indication 12.6. UK 12.6.1. Pricing Analysis 12.6.2. Market Share Analysis, 2022 12.6.2.1. By Disease Indication 12.7. France 12.7.1. Pricing Analysis 12.7.2. Market Share Analysis, 2022 12.7.2.1. By Disease Indication 12.8. Spain 12.8.1. Pricing Analysis 12.8.2. Market Share Analysis, 2022 12.8.2.1. By Disease Indication 12.9. Italy 12.9.1. Pricing Analysis 12.9.2. Market Share Analysis, 2022 12.9.2.1. By Disease Indication 12.10. Russia 12.10.1. Pricing Analysis 12.10.2. Market Share Analysis, 2022 12.10.2.1. By Disease Indication 12.11. China 12.11.1. Pricing Analysis 12.11.2. Market Share Analysis, 2022 12.11.2.1. By Disease Indication 12.12. Japan 12.12.1. Pricing Analysis 12.12.2. Market Share Analysis, 2022 12.12.2.1. By Disease Indication 12.13. India 12.13.1. Pricing Analysis 12.13.2. Market Share Analysis, 2022 12.13.2.1. By Disease Indication 12.14. South Korea 12.14.1. Pricing Analysis 12.14.2. Market Share Analysis, 2022 12.14.2.1. By Disease Indication 12.15. Australia 12.15.1. Pricing Analysis 12.15.2. Market Share Analysis, 2022 12.15.2.1. By Disease Indication 12.16. South Africa 12.16.1. Pricing Analysis 12.16.2. Market Share Analysis, 2022 12.16.2.1. By Disease Indication 12.17. Saudi Arabia 12.17.1. Pricing Analysis 12.17.2. Market Share Analysis, 2022 12.17.2.1. By Disease Indication 12.18. UAE 12.18.1. Pricing Analysis 12.18.2. Market Share Analysis, 2022 12.18.2.1. By Disease Indication 12.19. Israel 12.19.1. Pricing Analysis 12.19.2. Market Share Analysis, 2022 12.19.2.1. By Disease Indication 13. Market Structure Analysis 13.1. Competition Dashboard 13.2. Competition Benchmarking 13.3. Market Share Analysis of Top Players 13.3.1. By Regional 13.3.2. By Disease Indication 14. Competition Analysis 14.1. Competition Deep Dive 14.1.1. Eli Lilly and Company 14.1.1.1. Overview 14.1.1.2. Product Portfolio 14.1.1.3. Profitability by Market Segments 14.1.1.4. Sales Footprint 14.1.1.5. Strategy Overview 14.1.1.5.1. Marketing Strategy 14.1.2. Pfizer Inc. 14.1.2.1. Overview 14.1.2.2. Product Portfolio 14.1.2.3. Profitability by Market Segments 14.1.2.4. Sales Footprint 14.1.2.5. Strategy Overview 14.1.2.5.1. Marketing Strategy 14.1.3. Merck & Co., Inc. 14.1.3.1. Overview 14.1.3.2. Product Portfolio 14.1.3.3. Profitability by Market Segments 14.1.3.4. Sales Footprint 14.1.3.5. Strategy Overview 14.1.3.5.1. Marketing Strategy 14.1.4. GlaxoSmithKline plc. 14.1.4.1. Overview 14.1.4.2. Product Portfolio 14.1.4.3. Profitability by Market Segments 14.1.4.4. Sales Footprint 14.1.4.5. Strategy Overview 14.1.4.5.1. Marketing Strategy 14.1.5. Abbott 14.1.5.1. Overview 14.1.5.2. Product Portfolio 14.1.5.3. Profitability by Market Segments 14.1.5.4. Sales Footprint 14.1.5.5. Strategy Overview 14.1.5.5.1. Marketing Strategy 14.1.6. Astellas Pharma Inc. 14.1.6.1. Overview 14.1.6.2. Product Portfolio 14.1.6.3. Profitability by Market Segments 14.1.6.4. Sales Footprint 14.1.6.5. Strategy Overview 14.1.6.5.1. Marketing Strategy 14.1.7. Johnson & Johnson Services Inc. 14.1.7.1. Overview 14.1.7.2. Product Portfolio 14.1.7.3. Profitability by Market Segments 14.1.7.4. Sales Footprint 14.1.7.5. Strategy Overview 14.1.7.5.1. Marketing Strategy 14.1.8. AbbVie 14.1.8.1. Overview 14.1.8.2. Product Portfolio 14.1.8.3. Profitability by Market Segments 14.1.8.4. Sales Footprint 14.1.8.5. Strategy Overview 14.1.8.5.1. Marketing Strategy 14.1.9. Sanofi 14.1.9.1. Overview 14.1.9.2. Product Portfolio 14.1.9.3. Profitability by Market Segments 14.1.9.4. Sales Footprint 14.1.9.5. Strategy Overview 14.1.9.5.1. Marketing Strategy 14.1.10. Siemens Healthcare AG 14.1.10.1. Overview 14.1.10.2. Product Portfolio 14.1.10.3. Profitability by Market Segments 14.1.10.4. Sales Footprint 14.1.10.5. Strategy Overview 14.1.10.5.1. Marketing Strategy 15. Assumptions & Acronyms Used 16. Research Methodology
Healthcare
March 2024
REP-GB-1664
324 pages
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Prostate Health Market
