Global prostate health market is projected to grow at CAGR of 9.0%

The global prostate health market is projected to reach USD 48.9 billion by 2026 from USD 31.8 billion in 2021, at a CAGR of 9.0% during the forecast period. The prostate gland (the prostate) is an organ of the male reproductive system. The three most common forms of prostate disease are inflammation (prostatitis), non-cancerous enlargement of the prostate (benign prostatic hyperplasia or BPH), and prostate cancer. 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.

Prostate Cancer to hold the largest segment of the market

Based on disease indication, the prostate health market is segmented into prostate cancer, benign prostate hyperplasia, and prostatitis. In 2020, prostate cancer accounted for the largest share in the prostate health market. Typically, hormone therapy is considered an effective option as the first line of treatment for prostate cancer. Cancer vaccines, radiopharmaceutical agents, secondary hormone therapies, or chemotherapies follow hormonal therapy as treatment options. Cancerous cells are found to be developing a resistance to these therapies after some months, as a result of which immunotherapies are expected to be adopted widely for the treatment of prostate cancer in the near future.

The US to dominate the prostate health market in North America

The prostate health market is segmented into five six regions—North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America has been among the frontrunners in developing prostate health therapies in the healthcare industry. The market growth in the US (a major contributor to the North American prostate health market) can be mainly attributed to the growing target population, the high incidence of BPH, prostate cancer, and prostatitis, and the strong presence of medical device manufacturers. Additionally, favorable reimbursement policies, high disposable incomes, a strong healthcare infrastructure, research funding, and product launches have accelerated the growth of this market.

Breakdown of supply-side primary interviews:

• By Company Type: Tier 1 – 20%, Tier 2 – 45%, and Tier 3 – 35%
• By Designation: Director-level – 30%, C-level – 20%, and Others – 50%
• By Region: North America – 33%, Europe – 24%, APAC –27%, Rest of the World –16%

Some of the prominent players operating in the prostate health market are Eli Lilly and Company (US), Pfizer Inc. (US), Merck & Co., Inc. (US), GlaxoSmithKline plc. (UK), Abbott (US), and Astellas Pharma Inc. (Japan) and other players.

Research Coverage

This report studies the prostate health market based on type, mode of purchase, and application, and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth. It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to two main geographies – source and destination.

Key Benefits of Buying the Report

This report focuses on various levels of analysis—industry trends, market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.