Prostatic Artery Embolization (PAE) is a minimally invasive treatment procedure for symptomatic benign prostatic hyperplasia (BPH) in males. PAE involves blocking the tiny blood vessels that supply the prostate gland with tiny particles, cutting off its blood flow and causing the prostate tissue to shrink. PAE offers advantages over surgery like being less invasive, preserving sexual function, and shorter recovery times. BPH symptoms include frequent urination, urgency to urinate, weak stream, straining to urinate and frequent nighttime urination. The Global Prostatic Artery Embolization Market Size is estimated to be valued at US$ 270.72 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
Rising cases of benign prostatic hyperplasia presents lucrative growth opportunities. BPH is a common problem in aging males and its prevalence rises with age from around 8% in men in their 50s to over 50% in men in their 70s. With the global geriatric population expected to reach nearly 1.5 billion by 2050, the number of BPH cases is projected to increase significantly. PAE offers advantages over existing treatments like minimally invasive nature with faster recovery. Innovations to enhance efficacy and reduce complications of PAE procedures will further increase its acceptance. Increased awareness about PAE and its benefits through initiatives by healthcare providers can boost the prostatic artery embolization market growth over the forecast period.
Porter's Analysis
Threat of new entrants: Low capital requirement and established value chain poses low threat of new entrants. Regulations restrict new companies.
Bargaining power of buyers: Large number of buyers with bargaining power over pricing can switch to substitutes easily.
Bargaining power of suppliers: Suppliers have differentiated products and technologies, allowing them pricing power over buyers.
Threat of new substitutes: Emerging minimally invasive treatments present threat of substitution.
Competitive rivalry: Intense competition exists among major global players to gain higher market share.
SWOT Analysis
Strength: Gold standard minimally invasive treatment option. Growing disease prevalence increases market opportunity.
Weakness: Requirement of interventional radiology expertise limits geographical expansion. High cost impacts adoption in low income countries.
Opportunity: Increasing awareness, demand for non-surgical options. Expanding applications in managing benign prostatic hyperplasia.
Threats: Stringent regulatory approval delays market entry of new players. Threat from alternate non-surgical treatments.
Key Takeaways
The global Prostatic Artery Embolization market is expected to witness high growth during the forecast period of 2024 to 2031. The market size for 2024 is estimated to be US$ 270.72 Billion with a CAGR of 12%.
Regional analysis indicates North America dominates currently with the highest procedures owing to growing disease prevalence and adoption of advanced treatments. However, Asia Pacific is poised to emerge as the fastest growing market driven by increasing healthcare investments, availability of interventional radiology expertise and large patient pool.
Key players operating in the Prostatic Artery Embolization market are Ingersoll-Rand plc (Nexia), Vivint, Inc., Protection One Alarm Monitoring, Inc., The ADT Corporation, Telus Communications, Frontpoint Security Solutions, AT&T Inc., Johnson Controls, Inc., Comcast Corporation, Charter Communications (TWC), and CenturyLink, Inc. These major players are focusing on expanding geographical presence and access through strategic collaborations to consolidate market position.
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COVID-19 Impact Analysis on Prostatic Artery Embolization Market report published by Value Market Research provides a detailed market analysis comprising market size, share, value, growth and trends for the period 2020-2027.
The major players in the prostatic artery embolization market include Merit Medical Systems, Boston Scientific, Mentice, Siemens Healthcare, Terumo Europe NV, General Electric Company, Tampa General Hospital, UNC Health Care, Henry Ford, and Spire Healthcare.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Prostatic Artery Embolization Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/prostatic-artery-embolization-market/download-sampleMarket DynamicsExpanding geriatric population, rising prevalence of benign prostatic hyperplasia, and growing preference for minimally invasive treatments drive the growth of the global prostatic artery embolization market.
Benign prostatic hyperplasia is a common condition in the aging population that results in bothersome symptoms and decreased quality of life.
Benign prostatic hyperplasia affects over 50% of men by the age of 60 years and up to 80% of men older than 70 years, and its burden is increasing as the population ages.
However, PAE-treated patients may experience nausea, pelvic pain, and frequent urination, which is likely to refrain them from opting for this treatment.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
