Today’s world economic estimates show the market for Benign Prostatic Hyperplasia (BPH) therapeutics will experience a steady growth from 2014’s $2 billion value to an 8.23 percent Compound Annual Growth Rate (CAGR) increase to $4.9 billion 10 years later in 2024. This information comes from GlobalData, a research and consulting firm.
According to the company’s latest report, even in 10 years, the United States BPH market will continue to place first among all 7 major markets for BPH therapeutics, comprising about 65 percent of the worldwide market come 2024. The 6 other territories include France, Germany, Italy, Spain, the UK, and Japan.
Several breakthrough products for BPH are expected to be approved and released to the public in a few years’ time, including Nymox’s first-in-class agent, NX-1207, which will soon make its debut in the US and in Europe in 2017 and 2019, respectively.
The drug is administered by a urologist via direct injection in the prostate gland and has been shown to provide the patient with statistically significant symptom improvement 3 and 6 months after a single treatment. Patients do not have to worry about any systemic and sexual side effects, nor any pain, discomfort, and down time from the procedure. Years from its launch in the US and EU, the drug is already expected to be priced at a premium compared to existing BPH therapeutics on the market, making it one of the coming years’ most significant source of market growth.
GlobalData’s director mentioned that the market growth will also be attributable to the steadily rising number of male patients becoming at risk for and/or developing BPH. However, it is important to note the BPH market is not free of potential challenges, as the company foresees Jalyn, Avodart, Rapaflo and Cialis patents expiring and experiencing generic erosion down the line. There also exists a lack of development stage treatments for mild-to-moderate BPH symptoms.
How much does health care really cost? Earlier this year a team of University of California at Los Angeles (UCLA) Health Sciences researchers using time-driven activity-based costing analysis, for the first time described cost across an entire treatment and care process spectrum for a common urological condition called benign prostate hyperplasia (BPH) — non-cancerous enlargement of the prostate gland. The investigators found a 400 percent discrepancy between the least and most expensive approaches to treating BPH.