by Prostatic artery embolization is a minimally invasive treatment procedure used to treat benign prostatic hyperplasia in men. It is performed to treat symptoms of an enlarged prostate such as weak urinary stream, frequent urination, and inability to empty the bladder completely. The Global Prostatic Artery Embolization Market Size is estimated to be valued at US$ 270.72 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The prostatic artery embolization market is expected to witness significant growth over the forecast period owing to the growing geriatric population worldwide which is more prone to suffer from enlarged prostate condition. According to the United Nations report, the global geriatric population aged above 60 years is projected to reach 1.4 billion by 2030 from 1.0 billion in 2020, thus increasing the risk of enlarged prostate. Furthermore, prostatic artery embolization is a minimally invasive procedure and thus gaining more preference over conventional treatments due to benefits such as less pain, shorter hospital stay and faster recovery time. These factors are expected to drive growth of the prostatic artery embolization market during the forecast period.
SWOT Analysis
Strength: Prostatic Artery Embolization is a minimally invasive procedure that can effectively treat symptoms of benign prostatic hyperplasia. It has fewer risks and side effects compared to traditional treatments.
Weakness: The long term efficacy and safety of prostatic artery embolization compared to standard treatments has not been established definitively due to the relative newness of the technique. Operator experience and skill is important for successful outcomes.
Opportunity: Rising prevalence of benign prostatic hyperplasia among aging male populations globally increases the potential patient population for prostatic artery embolization. Development of new embolization techniques and devices can further improve efficacy.
Threats: Traditional treatments such as transurethral resection of the prostate are well established with documented long term data on efficacy and safety. Reimbursement policies may favor standard techniques initially until long term evidence develops for prostatic artery embolization.
Key Takeaways
The global prostatic artery embolization market is expected to witness high growth.
Regional analysis: Asia Pacific is poised to grow at the fastest pace during the forecast period. Rapidly developing healthcare infrastructure and growing medical tourism in countries such as India and China provide lucrative opportunities. Increasing geriatric population and rising healthcare expenditure also support market expansion in Asia Pacific.
Key players: 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 players are focusing on new product launches and geographical expansion to bolster their presence.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
