Benign Prostate Hyperplasia Diagnostic Tests: Introduction
- Benign prostate hyperplasia, also called prostate enlargement disorder, is a medical condition in males that progresses with age. The condition is characterized by the narrowing of male ureters, and blockage of normal flow of urine out of the bladder. It also causes several urinary tract disorders, and kidney and bladder disorders.
- The enlarged prostate creates pressure on the urethra, leading to narrowing down of the urethra and results in urine retention in the bladder. BPH is a non-cancerous medical condition, which means it is treatable.
- Common symptoms of BPH includes frequent or urgent need to urinate, increased frequency of urination, improper flow of urine, dribbling at the end of urination, and inability to empty the bladder fully.
- Exact causes of BPH are not yet clear; however, the chances of developing BPH increases with age. Hormonal changes are also thought to play a key role in developing BPH. The person with family history of BPH, obesity, and erectile dysfunction etc. are at increased risk of contracting BPH.
- Diagnosis of BPH is carried out by various tests, which includes urine tests, blood tests, imaging tests, and cystoscopy tests.
Benign Prostate Hyperplasia Diagnostic Tests Market: Key Drivers
- High prevalence and rise in incidence of benign prostate hyperplasia, and rapidly growing aging population across the globe are key factors driving the benign prostate hyperplasia diagnostic tests market
- The prevalence rate of BPH increases with age, from 8% in people aged over 40 years to 60% in people over 90
- Also, according to world population prospects, it is estimated that around 9% of global population is over the age of 65 years, and by the end of 2050, the number would increase to 1 in 6 people, accounting for 16% of global population.
- Technological advancements in the diagnosis of BPH, new test developments, and rise in demand for BPH etc. are factors estimated to propel growth of the market during the forecast period.
Cystoscopy Segment to be Highly Attractive
- In terms of tests, the global benign prostate hyperplasia diagnostics tests market can be segmented into blood tests, urine tests, scan tests, biopsy tests, and cystoscopy. The cystoscopy segment is projected to dominate the global market during the forecast period.
- Cystoscopy involves insertion of a thin flexible tube with camera mounted on the tip through the urethra to examine the urethra and bladder for any abnormalities.
- Extensive applications of cystoscopy tests in the diagnosis of different types of urological disorders, perfect diagnosis, and the fact that it is a minimally invasive diagnostic test are factors likely to represent potential business development opportunity for new entrants planning to enter this market.
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Diagnostic Laboratories to Dominate the Market
- Based on end-user, the global benign prostate hyperplasia diagnostics tests market can be classified into hospitals, diagnostic laboratories, and academic and research institutes. The diagnostic laboratories segment is projected to dominate the global market during the forecast period.
- Presence of a large number of diagnostic laboratories, easy availability and accessibility of tests at these centers, and low cost are major factors that are likely to drive the diagnostic laboratories segment in the near future.
- Rapidly growing number of diagnostic laboratories in emerging economies such as South Korea, India, China, and Brazil, and foreign direct investment in diagnostic laboratories etc. represent potential opportunity in the segment during the forecast period.
Asia Pacific Benign Prostate Hyperplasia Diagnostics Market to Expand Rapidly
- In terms of region, the global benign prostate hyperplasia diagnostics market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is likely to dominate the benign prostate hyperplasia diagnostics global market during the forecast period. High prevalence of BPH and rise in geriatric population are key factors that are expected to boost the market in the region during the forecast period.
- The benign prostate hyperplasia diagnostics market in Asia Pacific is anticipated to expand at a notable CAGR during the forecast period. Rapid expansion of the market in the region can be ascribed to a rise in incidence rate of BPH in densely populated countries, such as India and China, and improvement of healthcare infrastructure in the region.
- Significant expansion of the healthcare industry, easy access to healthcare facilities, and increase in investments in healthcare by leading players in Asia Pacific are expected to fuel the market in the region in the near future
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Key Players Operating in Global Benign Prostate Hyperplasia Diagnostics Tests Market
- The global benign prostate hyperplasia diagnostics tests market is fragmented, with a large number of global players holding majority share. Prominent players operating in the global benign prostate hyperplasia diagnostic tests market include:
- Laboratory Corporation of America Holdings
- Olympus Corporation
- Stryker Corporation
- C. R. Bard, Inc. (Becton Dickinson and Company)
- Boston Scientific Corporation
- Eurolyser Diagnostica GmbH
- Eurofins Scientific
- Vivomed Ltd.
Global Benign Prostate Hyperplasia Diagnostics Tests Market: Research Scope
Global Benign Prostate Hyperplasia Diagnostics Tests Market, by Tests
- Blood Tests
- Urine Tests
- Biopsy Tests
- Scan Tests
Global Benign Prostate Hyperplasia Diagnostics Tests Market, by End-user
- Diagnostic Laboratories
- Academic and Research Institutes
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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