May 18, 2024
Prostatic Artery Embolization Market

Prostatic Artery Embolization is Estimated to Witness High Growth Owing to Rising Geriatric Male Population

The Prostatic Artery Embolization market involves procedures used for treatment of benign enlargement of the prostate also known as benign prostatic hyperplasia (BPH) in males. During prostatic artery embolization, small embolic microparticles are delivered via catheter into arteries supplying blood to the prostate gland. This results in shrinkage of the enlarged prostate tissue and provides relief from lower urinary tract symptoms associated with BPH. The procedure is minimally invasive and offers several advantages over transurethral resection of the prostate (TURP) such as shorter hospital stay and recovery time. Additionally, it causes less post-procedural complications and sexual dysfunction. The growing geriatric male population worldwide which is predisposed to BPH and the demand for effective non-surgical treatment options are major drivers leading to the growth of the prostatic artery embolization market.

The Global Prostatic Artery Embolization Market 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 to 2031.

Key Takeaways

Key players operating in the Prostatic Artery Embolization Market Growth 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 adopting strategies such as mergers, acquisitions and product launches to strengthen their market position.

The growing incidence of BPH in elderly males worldwide and the widespread availability of the procedure is fueling the demand for prostatic artery embolization especially in developed regions like North America and Europe. Several clinical trials are being conducted to demonstrate long term effectiveness and establish prostatic artery embolization as a viable first line treatment for BPH. Successful outcomes of such trials will further propel market growth globally.

The prostatic artery embolization market is witnessing increased adoption in developing countries of Asia Pacific and Latin America. Favorable medical reimbursement policies and availability of skilled interventional radiologists in these regions are supporting the global expansion of the prostatic artery embolization market during the forecast period.

Market Drivers

The growing geriatric male population worldwide is a major driver for the prostatic artery embolization market. As age increases, incidence of BPH and related symptoms also rise in men. According to the United Nations Population Fund (UNFPA), by 2050 over 20% of the world’s population will be aged 60 and above. This demographic trend translates to a growing patient pool requiring effective management of BPH, thereby favoring market growth during the forecast period. Furthermore, growing adoption of minimally invasive procedures coupled with advantages of prostatic artery embolization over TURP, is encouraging urologists and patients to opt for this technique.

PEST Analysis:

Political: Prostatic artery embolization procedures require regulatory approvals from the government and related bodies. Stringent regulations can impact the adoption of these minimally-invasive procedures.

Economic: The growth of the geriatric population suffering from bladder problems due to an enlarged prostate is a key factor driving the demand. However, the high cost of these procedures can negatively impact the market.

Social: Increased awareness about the benefits of prostatic artery embolization such as minimal pain and faster recovery is influencing more patients to opt for it. Shorter hospital stay reduces the burden on families.

Technological: Advancements in embolization devices and imaging technology have improved the safety and efficacy of prostatic artery embolization. The use of imaging modalities like angiography helps physicians perform the procedure with more precision. Development of biodegradable embolic agents is also boosting the market growth.

In terms of value, North America holds the largest share in the prostatic artery embolization market due to widespread awareness, advanced healthcare infrastructure and favorable reimbursement policies. Europe is another major region due to the presence of leading players and growing medical tourism from developing countries.

The Asia Pacific region is growing at the fastest pace owing to rising medical expenditures, increasing healthcare access and presence of untapped opportunities in developing nations like India and China. Diagnosed cases of benign prostate hyperplasia are rapidly increasing in Asia Pacific’s large geriatric population base, driving the demand for minimally-invasive treatments like prostatic artery embolization.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it