Categories
Pharmaceutical

Loss of Patent Exclusivity Creating Lucrative Ground for Generic Drugs in Benign Prostatic Hyperplasia Treatment Market

An exhaustive study published by Fact.MR finds that, transurethral resection of prostate (TURP) surgery is expected to contribute around 30% of market share by 2027, as it is proving highly-effective over drugs for the treatment of benign prostatic hyperplasia (BPH). High success rate of the TURP surgery is encouraging market players to further explore advanced technologies and increase surgical precision. On account of technological leaps, robotic surgery and laser therapy are the most recent breakthroughs in the benign prostatic hyperplasia treatment market, which are being fast-adopted by medical professionals to relieve the symptoms of BPH.

For detailed insights on enhancing your product footprint, request for a sample here – https://www.factmr.com/connectus/sample?flag=S&rep_id=4412

However, these high-end therapeutics are currently not under the ambit of insurance, resulting in high out-of-pocket spending for patients. To sum it all, the study expects moderate growth of the benign prostatic hyperplasia treatment market during the forecast period (2020-2027).

growth potential of benign prostatic hyperplasia treatment market by treatment

Key Highlights of Benign Prostatic Hyperplasia Treatment Market Study

  • Hospitals will remain key treatment centres, with over 40% revenue contribution to the BPH treatment market during 2020-2027. However, expensiveness of TURP surgeries, lengthy procedures, and long stays in hospitals are diverting patients’ inclination towards specialty clinics.
  • Manufacturers continue to extend efforts towards enhancing product efficacy, which is strengthening the pipeline for BPH treatment with numerous inhibitors and immunotherapies in phase II and phase III trials. This signifies a sustainable supply of branded therapeutics during the forecast period.

For critical insights on this market, request for methodology here – https://www.factmr.com/connectus/sample?flag=RM&rep_id=4412

  • The U.S. is projected to account for around 25% of the global BPH treatment market share during 2020-2027, as regional manufacturers gain the early-slice of technology to foster innovation. However, India is projected to grow at the highest rate in the benign prostatic hyperplasia treatment market, on account of relatively low BPH treatment costs that attract a large number of medical tourists.
  • Loss of patent exclusivity of branded drugs is increasing the availability of generic drugs, which prevents the benign prostatic hyperplasia treatment market from reaching its true revenue potential.

A senior consultant at Fact.MR opines, “Manufacturers can target expansions in India and China, as relatively low setup and labour costs would result in reduced price of products, and, in turn, improve the adoption rate of otherwise expensive therapeutics. Also, a large geriatric population in Japan and high prevalence of BPH among men over 50 years are likely to increase market opportunities in this country.”

For in-depth competitive analysis, buy now – https://www.factmr.com/checkout/4412

Switch from Rx to OTC Drug Status to Remain Crucial for Leading Players to Improve Sales Prospects

Olympus, Teleflex, and Boston Scientific Corporation hold significant share tantamount to 58% in the global benign prostatic hyperplasia treatment market. These leading players have high focus on R&D activities to increase the exclusivity of products and strengthen the pipeline of branded drugs.

However, frequent instances of patent expiration are opening market opportunities for prominent and emerging players, who develop generic drugs and biosimilar products. Low costs of generic drugs as compared to branded ones are creating a wide base of consumers for this drug category. However, the same takes a toll on the market value of branded drugs, which is turning into a concern for leading market players. To offset this challenge, leading manufacturers are changing the status of their branded drugs from prescription-based drugs to OTC to achieve high adoption of their products.

Read More Trending and Similar Reports from Fact.MR – http://www.globenewswire.com/en/news-release/2018/08/08/1549081/0/en/Orthopedic-Implants-Market-Sales-in-Knee-Reconstruction-Pre-eminent-Hip-Reconstruction-to-Gain-Steady-Momentum-slates-Fact-MR.html

Explore Fact.MR’s Comprehensive Coverage on Healthcare Landscape

Lung Management Products Market Forecast, Trend Analysis & Competition Tracking-Global Market Insights 2018 to 2028- https://www.factmr.com/report/2030/lung-management-products-market

Primary Hyperoxaluria Treatment Market Forecast, Trend Analysis, & Competition Tracking – Global Market Insights 2020 to 2030- https://www.factmr.com/report/5257/primary-hyperoxaluria-treatment-market

Surgical AR Systems Market Forecast, Trend Analysis, & Competition Tracking – Global Review 2020 to 2030- https://www.factmr.com/report/5258/surgical-ar-systems-market

About Us:

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.

Contact:

US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583

Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Email: sales@factmr.com
Visit Our Website: https://www.factmr.com

Leave a Reply

Your email address will not be published. Required fields are marked *