The value of the global therapeutics market for benign prostatic hyperplasia (BPH) will rise from just over $2 billion in 2014 to approximately $4.9 billion by 2024, representing a compound annual growth rate (CAGR) of 8.23%, according to research and consulting firm GlobalData.
The company’s latest report states that across the seven major markets (7MM) of the US, France, Germany, Italy, Spain, the UK, and Japan, the US will continue its current dominance, accounting for 65% of the global arena by 2024.
According to the report, “The major driver for this growth across the 7MM will be the launch of NX-1207, a direct prostatic injection, which represents a first-in-class therapy for the treatment of moderate-to- severe BPH.”
Valentina Gburcik, PhD, GlobalData’s director of Cardiovascular & Metabolic Disorders says that the injection offers “an increased safety profile and improved efficacy in comparison with currently available BPH therapies, and lasts for a mean duration of 3.5 years after a single injection.
“The drug will also be priced at a premium compared with current products,” she continues, “meaning that it will contribute significantly towards the anticipated market expansion following its launch.”
Gburick adds that an increasing number of diagnosed BPH cases worldwide, resulting from an aging male population, will further drive the market over the forecast period.
However, several barriers will hinder any further growth in the BPH therapy space, according to GlobalData’s report.
Gburcik explains: “By the end of 2024, various key BPH treatments, such as Jalyn, Avodart, Rapaflo and Cialis, will see their patents expire, followed by subsequent generic erosion.
“This will be exacerbated by a lack of pipeline therapies for mild-to-moderate BPH symptoms, leaving a significant portion of the patient population underserved,” she concludes.
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