by Prostatic artery embolization (PAE) is a minimally invasive treatment procedure for benign prostatic hyperplasia (BPH) in which small particles are injected into the arteries that supply blood to the prostate gland in order to reduce blood flow. This helps shrink the enlarged prostate size and relieves symptoms such as frequent urination, weak urine stream, and inability to completely empty the bladder. PAE provides an alternative to more invasive surgical procedures such as transurethral resection of the prostate (TURP) and helps avoid potential complications associated with these types of surgeries. 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 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the prostatic artery embolization market is the growing geriatric male population worldwide that is more susceptible to BPH. Age is the strongest risk factor for the development and progression of BPH symptoms. As life expectancy increases globally, the population of men aged above 65 years is rising significantly. It is estimated that over 60% of men in their 60s and over 80% in their 70s and 80s have symptoms of BPH to some degree. Since PAE is a minimally invasive treatment option for BPH, it is a suitable treatment approach for the growing elderly male demographic dealing with this condition. This growing target patient population base is expected to drive the demand for PAE procedures over the forecast period.
Porter’s Analysis
Threat of new entrants: Low. The prostatic artery embolization market requires high capital investment and regulatory protocols making new market entry difficult.
Bargaining power of buyers: Moderate. The availability of alternative treatment options such as drugs and surgeries increases buyer bargaining power.
Bargaining power of suppliers: Moderate. The presence of many suppliers of medical devices and equipment needed for the procedure balances their bargaining power.
Threat of new substitutes: Low. There are limited treatment substitutes for prostatic artery embolization with comparable clinical outcomes.
Competitive rivalry: High. The market sees intense competition among key players to gain higher market share through new product launches and regional expansion.
Key Takeaways
The global prostatic artery embolization market is expected to witness high growth over the forecast period of 2024 to 2031. Regionally, North America dominated the market in 2024 and is anticipated to continue its dominance during the forecast period. Factors such as significant technological advancements and increasing prevalence of BPH drive the growth of the regional market.
Regional analysis: North America held over 30% of the global market share in 2024 due to rising geriatric population and healthcare expenditure. Asia Pacific is expected to be the fastest growing region on account of growing medical tourism and improving healthcare infrastructure.
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 focus on new product launches and strategic collaborations to expand their market presence.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
