Laser BPH Devices Market Expected to Reach $765.4 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Laser BPH Devices Market," The laser BPH devices market was valued at $460.25 million in 2021, and is estimated to reach $765.4 million by 2031, growing at a CAGR of 5.2% from 2022 to 2031. Prostate enlargement, commonly known as benign prostatic hyperplasia (BPH), is a noncancerous expansion of the prostate gland. Frequent urination, difficulty starting to urinate, a weak stream, the inability to urinate, or a loss of bladder control are examples of symptoms. Urinary tract infections, bladder stones, and ongoing renal issues are examples of complications. Laser devices such as holmium laser, thulium laser, green light laser, and others such as diode laser,  Nd:YAG laser, KTP/Nd: YAG laser are used to treat benign prostatic hyperplasia.

Factors that drive the growth of the laser BPH devices market size include rise in number of product launches and product approvals for laser BPH devices and increase in number of geriatric populations. For instance, in July 2020, Lumenis Ltd., the world’s largest energy-based medical device company for aesthetic, surgical and ophthalmic procedures, announced the launch of MOSES 2.0 holmium laser technology to treat benign prostatic hyperplasia. In addition, as geriatric population is more susceptible to benign prostatic hyperplasia, this factor is anticipated to drive the laser BPH devices market growth. For instance, in 2019, the World Health Organization (WHO) estimated that 703 million people aged 65 and up lived globally. By 2050, the number of elderly people is expected to increase to 1.5 billion.

Laser BPH devices market trends incudes the rise in the prevalence of benign prostatic hyperplasia. For instance, according to report shared by The Lancet Article, in 2019, approximately 94 million population is suffering from benign prostatic hyperplasia over the globe. In addition, as per the same source, it was reported that, in North America around 51,90,000 population is suffering from benign prostatic hyperplasia in 2019. Moreover, the cases were approximately increased by 68% from year 2000. Thus, this factor is anticipated to drive the demand for different laser BPH devices such as holmium laser, thulium laser, green light laser and others which includes diode laser, ND: YAG laser, KTP/Nd: YAG laser.

Moreover, rise in awareness regarding benign prostatic hyperplasia, increase in number of professionals who can conduct procedure of laser surgeries for benign prostatic hyperplasia, increase in incidence of benign prostatic hyperplasia, and increase in number of benign prostatic hyperplasia industry are anticipated to drive the demand for laser BPH devices and boost the growth of market. In addition, the laser benign prostatic hyperplasia devices market is expected to develop due to increase in clinics equipped with advance technology and the rise in expenditure by government to develop healthcare infrastructure. In addition, rise in disposable income among the population of developing nations and increase in R&D activities, both contribute to the market's expansion.

Based on type, the market is segmented into holmium laser, thulium laser, green light laser, and others. The holmium laser segment dominated the market in 2021 and is expected to continue this trend during the forecast period, owing to rise in number of product launch and products approvals for holmium laser and increase in number of companies who manufactures laser BPH devices.

Based on procedure, the market is bifurcated into photoselective vaporization of the Prostate (PVP) and holmium laser ablation of the prostate (HoLAP). The holmium laser ablation of the prostate (HoLAP) segment dominated the market in 2021 and is expected to continue this trend during the forecast period, owing to increase in the prevalence of benign prostate hyperplasia and rise in number of geriatric populations.

Based on end user, the market is divided into hospitals, clinics, and others. The hospitals segment dominated the market in 2021 and is expected to continue this trend during the forecast period, owing to rise in expenditure by government to develop healthcare infrastructure and increase in number of hospitals and clinics.

North America accounted for most of the global laser BPH devices market share in 2021 and is anticipated to remain dominant during the forecast period. This is attributed to rise in the number of product launch and product approval, increase in the number of laser BPH devices industry, and developed healthcare infrastructure. Asia-Pacific is anticipated to witness lucrative growth during the forecast period, owing to rise in expenditure by government organization to develop the healthcare sector and increase in awareness regarding benign prostate hyperplasia.

Key Findings of The Study

• By type, the holmium laser segment was the highest contributor to the market in 2021.
• By procedure, the photoselective vaporization of the Prostate (PVP)  segment dominated the market in 2021 and is expected to continue this trend during the forecast period.
• By end user, the hospitals segment dominated the market in 2021 and is expected to continue this trend during the forecast period.
• By region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.