Laser BPH Devices Market to Reach $765.4 Million, Globally, by 2031 at 5.2% CAGR: Allied Market Research

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Jan 31, 2023, 05:29 ET

PORTLAND, Ore., Jan. 31, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Laser Benign Prostate Hyperplasia (BPH) Devices Market by Type (Holmium laser, Thulium laser, Green light laser, Others), by Procedure (Photoselective Vaporisation of the Prostate, Holmium laser ablation of the prostate), by End User (Hospitals, Clinics, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031" According to the report, the global laser BPH devices industry generated $460.3 million in 2021, and is estimated to reach $765.4 million by 2031, witnessing a CAGR of 5.2% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

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Drivers, Restraints, and Opportunities-

Surge in the prevalence of benign prostatic hyperplasia, rise in the incidence of obesity and diabetes, and increase in the geriatric population drive the growth of the global laser BPH devices market. On the other hand, certain side effects associated with laser benign prostatic hyperplasia surgery restrain the growth to some extent. However, several R&D activities conducted by the major players in the sectors have paved the way for lucrative opportunities in the industry.

Covid-19 scenario-

The outbreak of the pandemic gave way to either cancellation or postponement of non-emergency srocedure sych as laser BPH surgery, thus leading to a sharp decline in demand for laser BPH devices. This factor impacted the market negatively, especially during the initial period.
However, as the global situation started improving altogether, the market for laser BPH devices also got back on track.

The holmium laser segment to maintain its dominance during the forecast period-

By type, the holmium laser segment held the major share in 2021, accounting for more than two-fifths of the global laser BPH devices market revenue. Rise in the number of product launch & products approvals for holmium laser and increase in the number of companies that manufacture laser BPH devices drive the growth of the segment. The green light laser segment, on the other hand, would showcase the fastest CAGR of 5.8% during the forecast period, due to increase in the number of products approvals for holmium laser and surge in the number of laser BPH devices manufacturing companies.

The photoselective vaporisation of the prostate segment to rule the roost-

By procedure, the photoselective vaporisation of the prostate segment contributed to more than 90% of the global global laser BPH devices market share in 2021, and is expected to dominate by 2031. The same segment would also cite the fastest CAGR of 5.2% throughout the forecast period. This is owing to increase in the prevalence of benign prostate hyperplasia and rise in the application of 'photoselective vaporization of the prostate' in patients.

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The hospitals segment held the highest share in 2021-

By end-user, the hospitals segment accounted for the highest share in 2021, garnering nearly three-fifths of the global laser BPH devices market revenue. The same segment would also showcase the fastest CAGR of 5.4% from 2022 to 2031. Surge in expenditure by government bodies to develop healthcare infrastructure and increase in number of hospitals and clinics across the world fuel the segment growth.

North America garnered the major share in 2021-

By region, North America held the highest share in 2021, garnering more than two-fifths of the global laser BPH devices market share. This is due to the presence of highly developed healthcare infrastructure, surge in the number of product launch and product approval, and rise in the number of key players across the region. Asia-Pacific, on the other hand, would cite the fastest CAGR of 6.3% from 2022 to 2031. Rise in expenditure by government organizations to develop the healthcare sector and increase in awareness regarding benign prostate hyperplasia drive the market growth.

Leading Market Players-

Technologies GmbH
Biolitec AG.
Endo Pharmaceuticals Inc.
Boston Scientific
Richard Wolf GmbH
HealthTronics, Inc.
Lumenis
Metrum Cryoflex
OmniGuide
Asclepion Laser
Agiliti Health, Inc.
Coloplast

The report analyzes these key players in the global laser BPH devices market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.

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