5-Alpha-Reductase Inhibitors (5-ARIs) Market
Number of pages: 100 | Report Format: PDF | Published date: May 23, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
CAGR |
4.46% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Type, Application, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global 5-alpha-reductase inhibitors market is expected to register a revenue CAGR of 4.46% from 2023 to 2031.
5-Alpha-Reductase Inhibitors Market Fundamentals
5-alpha-reductase inhibitors are a class of drugs that suppress the function of 5-alpha-reductase, the enzyme responsible for converting testosterone to dihydrotestosterone. This results in higher testosterone levels and lower dihydrotestosterone levels; an excess of dihydrotestosterone has been linked to benign prostatic hyperplasia (BPH) and prostate cancer
The research study on the 5-alpha-reductase inhibitors market overview thoroughly analyzes the market, along with the aspects that either help or hinder the market's growth, such as its drivers, challenges, and opportunities. The research also discusses the list of businesses that operate in this market and their efforts to establish themselves as major players through expansion plans and innovative ideas. It also emphasizes current events that support the market's revenue expansion.
This report is an important tool for the industry stakeholders to gather all the information about the market, customers, and competition. The report also provides the readers with valuable insights on the segmentation, regions, market size & forecast, revenue CAGRs, and other valuable data to help make informed strategic decisions. The study compiles information gathered from industry participants and specialists across the industry value chain. The report also taps into the qualitative and quantitative assessments by industry analysts. Our reports use different methods for estimating the market size and forecast, including secondary research, surveys and interviews, and statistical modeling. With these steps, our reports provide the most accurate market data. These datasets will cumulatively provide an in-depth 5-alpha-reductase inhibitors market forecast to the industry stakeholders.
5-Alpha-Reductase Inhibitors Market Dynamics
Benign prostatic hyperplasia is a common condition among aging men, characterized by prostate gland enlargement. As the global population ages, the prevalence of BPH is expected to rise. For instance, according to a 2022 report by “Lancet”, the age-specific prevalence of benign prostatic hyperplasia was registered to be nearly 8% in the fourth decade of life, 50% in the sixth decade of life, and 80% in the ninth decade of life. This high prevalence drives the demand for 5-ARIs as a primary pharmacological treatment for managing benign prostatic hyperplasia symptoms, such as urinary difficulties, thereby boosting the market growth. There is an increasing awareness of the importance of early diagnosis and treatment of urological conditions like benign prostatic hyperplasia.
For instance, according to “World Cancer Research Fund International” report, it was noted that more than 1.4 million new cases of prostate cancer were registered in 2020. As a result, more individuals seek medical help for their symptoms, leading to higher diagnosis rates and treatment initiation. This growing awareness and proactive treatment-seeking behavior contribute to expanding the 5-ARIs market. Pharmaceutical companies are continuously developing new drug formulations and delivery systems for 5-ARIs. For example, extended-release formulations of finasteride and dutasteride allow for once-daily dosing, enhancing patient convenience and adherence to treatment regimens. These advancements in drug formulations improve patient experience, positively impacting the market growth. Male pattern baldness is a common concern among men, and there is a growing demand for effective hair loss treatments. 5-ARIs, particularly finasteride, have been approved for treating male pattern baldness. The increasing societal focus on appearance and aesthetics and the availability of 5-ARIs drive the demand for hair loss treatments, contributing to market growth. Ongoing research and development efforts aim to expand the application of 5-ARIs and improve their therapeutic outcomes. These initiatives explore the potential use of 5-ARIs in other conditions, such as female pattern hair loss, polycystic ovary syndrome (PCOS), and prostate cancer. Positive outcomes from clinical trials and studies could expand indications for 5-ARIs, further driving the market growth. Pharmaceutical companies often engage in strategic collaborations and partnerships to strengthen their product portfolios and market presence. Collaborations between pharmaceutical companies and healthcare providers or research institutions can drive innovation, accelerate drug development, and expand market reach for 5-ARIs.
5-Alpha-Reductase Inhibitors Market Ecosystem
5-Alpha-Reductase Inhibitors Market, Types
5-Alpha-Reductase Inhibitors Market, by Application
5-Alpha-Reductase Inhibitors Market by Application
[56755]
Benign prostatic hyperplasia is a common condition among aging men. As men age, the prostate gland naturally undergoes enlargement, leading to urinary symptoms and discomfort. The high prevalence of benign prostatic hyperplasia drives the demand for 5-ARIs as a primary pharmacological treatment for managing benign prostatic hyperplasia symptoms, such as urinary difficulties. The large patient pool in the BPH segment contributes significantly to the dominance of this market. 5-ARIs are one of the primary treatment options for benign prostatic hyperplasia. They work by reducing the conversion of testosterone to dihydrotestosterone (DHT), thereby shrinking the enlarged prostate gland and alleviating associated urinary symptoms. The effectiveness of 5-ARIs in managing BPH symptoms and their widespread use and acceptance among healthcare professionals contribute to the dominance of the benign prostatic hyperplasia segment. Medical guidelines and recommendations from professional societies, such as the American Urological Association (AUA) and the European Association of Urology (EAU), support the use of 5-ARIs as a first-line treatment for moderate to severe BPH. These guidelines provide a framework for healthcare providers in prescribing 5-ARIs, reinforcing their use in the management of benign prostatic hyperplasia. The adherence to these guidelines further strengthens the dominance of the BPH segment in the 5-ARIs market. Benign prostatic hyperplasia can significantly impact a patient's quality of life, causing bothersome urinary symptoms and affecting daily activities. Patients with moderate to severe symptoms often seek medical intervention to alleviate their discomfort.
5-ARIs have shown efficacy in reducing symptoms and improving quality of life in BPH patients. As a result, the BPH segment remains dominant as patients and healthcare providers prioritize the management of BPH-related symptoms. The global population is experiencing an aging demographic shift, with a higher proportion of elderly individuals. Benign prostatic hyperplasia is more prevalent in older age groups. As the population ages, the number of individuals with BPH is expected to rise. This demographic trend further drives the dominance of the BPH segment in the 5-ARIs market.
Segmentation of the market refers to the division of the industry into subgroups based on factors such as type, application, etc. Market segmentation data helps businesses to understand the preferences and unique needs of different customer groups and develop targeted sales strategies. This information also helps in identifying potential muscarinic agonist market growth opportunities.
5-Alpha-Reductase Inhibitors Market by Region
Based on region, the global 5-alpha-reductase inhibitors market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America has a significant prevalence of benign prostatic hyperplasia, which drives the demand for 5-ARIs. The region has a large population of aging men more prone to developing BPH. According to a CDC report, nearly 224,733 new prostate cancers were reported and approximately 31,636 males died from prostate cancer in the United States in 2019. As a result, there is a substantial patient base in North America that requires treatment for BPH, contributing to the dominance of the market. North America boasts a well-developed healthcare infrastructure, including a robust network of hospitals, clinics, and healthcare providers. This infrastructure supports the diagnosis, treatment, and management of BPH, with 5-ARIs being a common pharmacological intervention. The availability of healthcare facilities and specialized urology centers in North America ensures easy access to 5-ARIs for patients, enhancing the dominance of the market in the region. North America, particularly the United States, has a comprehensive healthcare insurance system and favorable pharmaceutical reimbursement policies. Insurance plans often cover 5-ARIs prescribed for treating BPH, reducing the financial burden on patients and increasing their access to these medications. This favorable reimbursement environment contributes to the dominance of the 5-ARIs market in North America. North America has well-established regulatory bodies, such as the U.S. Food and Drug Administration (FDA) and Health Canada, which set drug approval, safety, and efficacy standards. The stringent regulatory framework ensures that 5-ARIs meet high-quality standards before entering the market. Such regulations enhance the trust and confidence in the medications, facilitating their dominance in the market. North America is at the forefront of research and development in the healthcare industry, including advancements in urology and pharmacology. The region has a strong focus on innovation and the development of novel drug formulations. This technological advancement in drug delivery systems, such as extended-release formulations of 5-ARIs, improves patient adherence and convenience, contributing to the dominance of the market in North America. North America has a culture of proactive healthcare-seeking behavior and high health awareness among its population. Patients in the region are more likely to seek medical attention for their urological conditions, including BPH. This heightened awareness and proactive treatment-seeking behavior contribute to the larger market size for 5-ARIs in North America compared to other regions.
Based on the regions, the global 5-alpha-reductase inhibitors market is segmented into:
Regional demarcation of the industry will provide information on geographic pockets regarding 5-alpha-reductase inhibitors market outlook, size, share, and growth rate. This data helps businesses evaluate the expansion potential into new regional markets, understand the competitive threats across different regions, and develop localized sales and expansion strategies.
Competitive Landscape
The prominent players operating in the 5-alpha-reductase inhibitors market are:
Key Strengths of Our Report
Target Audience to Benefit from this Report.
Reasons to Buy this Report
5-alpha reductase inhibitors are drugs used to treat prostate enlargement and male pattern hair loss (androgenic alopecia) in males. 5-alpha reductase inhibitors help decrease and limit the development of prostate tissue, alleviate associated urinary symptoms, and prevent androgen-related hair loss.
North America accounts for the largest revenue share in the global 5-alpha-reductase inhibitors market
The global 5-alpha-reductase inhibitors market is estimated to grow at a revenue CAGR of 4.46% from 2023 to 2031.
The increasing demand for benign prostatic hyperplasia is a prominent trend in global 5-alpha-reductase inhibitors.
Technological advancements and the development of novel 5-alpha-reductase inhibitors products are major opportunities in the global 5-alpha-reductase inhibitors market.
Stringent regulatory policies, side effects, and safety concerns are the major restraining factors that hamper overall market growth.
Teva Pharmaceutical Industries Ltd., Merck & Co. Inc., GSK Plc., and other notable players are major market players in the global 5-alpha-reductase inhibitors market.
The benign prostatic hyperplasia segment dominates the global 5-alpha-reductase inhibitors market.
Europe accounts for the second-largest 5-alpha-reductase inhibitors market size during the forecast period from 2023 to 2031
*Insights on financial performance are subject to the availability of information in the public domain