Prostatic Artery Embolization Market Driven by Rising Geriatric Male Population
Market Overview
Prostatic artery embolization (PAE) is a minimally invasive treatment procedure used for managing symptoms due to benign prostatic hyperplasia (BPH) in men. It involves cutting off the blood supply to the prostate gland by blocking the arteries that supply blood to the prostate, which helps in reducing the prostate size. PAE provides relief from BPH related symptoms such as difficulty initiating urination, weak stream, urgency, and frequent urination. It is associated with benefits such as shorter hospital stay and recovery time along with minimal post-procedure pain and side effects as compared to traditional treatment options. 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 from 2024 to 2031.
Key Takeaways
Key players operating in the Prostatic Artery Embolization market Size 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, and CenturyLink, Inc. The growing geriatric male population prone to BPH and rising preference for minimally invasive treatment options are fueling the demand for PAE in the market. Major players are expanding their presence globally, especially in emerging economies to tap the significant growth opportunities in these untapped markets.
Market Drivers
The rising geriatric male population worldwide is a key driver for the prostatic artery embolization market. According to the United Nations, the population aged 60 years or older is growing at a rate of 3% every year globally and is expected to double by 2050. Older men have higher risk of developing BPH due to changes in hormone levels and enlargement of the prostate gland. This is increasing the patient pool opting for PAE procedures for BPH management. This market is thus driven by the increasing geriatric male populace prone to BPH conditions treated with prostatic artery embolization.
The current geopolitical conflicts and uncertainties across several regions are expected to impact the growth of the Prostatic Artery Embolization market. The ongoing Russia-Ukraine war has disrupted global supply chains and economies. Due to trade restrictions and sanctions, supply of certain medical devices and components used in prostatic artery embolization procedures has been affected. This is likely to hamper market expansion, especially in Eastern Europe, in the short run. Furthermore, political instability and economic troubles in several parts of Asia Pacific and Middle East & Africa may constrain healthcare infrastructure development and investments in novel procedures. As a result, market players may face challenges related to setting up new manufacturing facilities or clinical research activities in these volatile regions over the next few years.
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