by The Prostatic Artery Embolization involves minimally invasive treatment of symptomatic benign prostatic hyperplasia (BPH) by blocking the small artery branches that supply blood to the prostate gland. The global Prostatic Artery Embolization Market is estimated to be valued at US$ 235 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising cases of benign prostatic hyperplasia (BPH) is the major factor fueling the growth of global Prostatic Artery Embolization market during the forecast period. According to the National Institutes of Health, nearly 50% of men in their 50s and up to 90% in their 70s and 80s have BPH symptoms. This rapidly growing geriatric population is leading to increased cases of BPH across the globe. Prostatic Artery Embolization is emerging as a minimally invasive and effective treatment option for BPH. The advantages of PAE such as minimal pain, lesser complications, and quicker recovery compared to other treatment options is gaining popularity among patients and healthcare providers. Manufacturers are also focusing on technological advancements in prostatic artery embolization devices and procedures which will further accelerate the market growth over the forecast period.
SWOT Analysis
Strength: Prostatic Artery Embolization procedure is a minimally invasive treatment for prostate enlargement that allows for faster recovery time compared to traditional surgery. It offers an alternative treatment option for patients who are poor candidates for surgery or other treatments.
Weakness: The procedure is still relatively new and not all urologists are trained to perform it. Long-term efficacy and safety data on prostatic artery embolization is still limited compared to established treatments like surgery.
Opportunity: With an aging global population and rising rates of benign prostatic hyperplasia, the market potential for minimally invasive treatments is large. Increased adoption of prostatic artery embolization could help meet growing demand for effective alternatives to surgery.
Threats: Reimbursement policies by insurance providers vary in their coverage of prostatic artery embolization, which could limit uptake. Established treatments like medications and surgery also pose competition.
Key Takeaways
The Global Prostatic Artery Embolization Market Size is expected to witness high growth over the forecast period as the procedure gains more acceptance and coverage as a minimally invasive treatment option for enlarged prostate.
Regional analysis: North America currently dominates the market due to availability of trained interventional radiologists and favorable reimbursement policies. However, the Asia Pacific region is expected to grow at the fastest rate powered by growing medical tourism and an increasing aging population with prostate issues.
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 companies are focused on launching new embolic agents and catheters to facilitate the procedure and expanding their geographic presence. Widespread insurance coverage and more trained physicians performing the procedure could help accelerate adoption of prostatic artery embolization over the forecast period.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
