ERECTILE DYSFUNCTION DEVICES MARKET ANALYSIS

The Erectile Dysfunction Devices Market is estimated to be valued at US$ 1.55 Billion in 2023 and is expected to exhibit a CAGR of 9.5% during the forecast period (2023-2030).

Analysts’ Views on the Erectile Dysfunction Devices Market:

The use of erectile dysfunction devices has made many people's lives better and improved their overall quality of life. These devices have provided a non-invasive and effective solution for individuals struggling with erectile dysfunction. By promoting blood flow to the penis, they enable individuals to achieve and maintain erections, enhancing their sexual experiences and restoring confidence in their relationships. Therefore, the global market of erectile dysfunction devices is projected to grow over the forecast period.

Figure 1. Erectile Dysfunction Devices Market Share (%), by Device Type, 2023

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Erectile Dysfunction Devices Market – Driver

• New innovations in technology by key market players to expand their product portfolio: Technological advancements in erectile dysfunction devices has greatly improved the lives of many individuals. Not only has it provided a non-invasive and effective solution for those struggling with erectile dysfunction, but it has also increased their self-confidence and restored intimacy in their relationships. Moreover, the continuous innovations in this field ensures that individuals have access to more personalized and comfortable options, further enhancing their overall experience and satisfaction.

Figure 2. Erectile Dysfunction Devices Market Value (US$ Billion), by Region, 2023

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Erectile Dysfunction Devices Market- Regional Analysis

Among regions, North America is estimated to hold a dominant position in the Erectile Dysfunction Devices Market over the forecast period. The rising incidence of prostate cancer and the number of Ambulatory Surgery Centers (ASCs) in the continent are driving the North American market of erectile dysntion devices. The second-largest market for erectile dysfunction devices is in Asia Pacific, which is primarily driven by an increase in the problem in the elderly population.

Erectile Dysfunction Devices Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization (WHO) declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, are facing problems with the transportation of drugs from one place to another.

Erectile Dysfunction Devices Market Segmentation:

The Erectile Dysfunction Devices Market report is segmented into based on device type, end user, and region.

• By device type, the market is segmented into non-surgical devices (vacuum constriction devices, erectile dysfunction shockwave generators, and external penile rigidity devices), surgical devices, penile implants (inflatable implants, and malleable (semi-rigid) implants), and other surgical devices. Out of which, the surgical devices segment is expected to hold a dominant position in the Erectile Dysfunction Devices Market during the forecast period, and this is attributed to the increasing in the number of patients globally.
• By end user, the market is segmented into hospitals, clinics, and ambulatory surgery centers. Out of which, the hospitals segment is expected to dominate the market over the forecast period, and this is attributed to the increasing prevalence of prostate cancer diseases.
• Among all the segmentations, the device type segment has the highest potential due to the increasing patient pool over the forecast period. The increase in the patient pool for erectile dysfunction is increasing over the year, due to which patients need a permanent solution by having surgery. However, it is important to note that surgery is not always the first line of treatment for erectile dysfunction. Many patients find success with non-invasive options such as medication or therapy before considering surgical intervention. Additionally, it is crucial for patients to consult with their healthcare provider to determine the most appropriate course of action based on their individual needs and medical history.

Erectile Dysfunction Devices Market Cross Sectional Analysis:

Nearly all men will experience some erectile dysfunction for the first few months after prostate cancer treatment. However, within one year after treatment, nearly all men with intact nerves will see a substantial improvement. About 75% of men who undergo nerve-sparing prostatectomy or more precise forms of radiation therapy have reported successfully achieving erections after using drugs. However, they are not for everyone, including men who take medications for angina or other heart problems and men who take alpha-blockers.

Erectile Dysfunction Devices Market: Key Developments

In August 2022, Futura Medical plc, a pharmaceutical company developing a portfolio of innovative products based on its proprietary, transdermal DermaSys drug delivery technology and currently focused on sexual health and pain, announced the positive results from the confirmatory Phase 3 clinical study, “FM71” for MED3000, an investigational therapy for the treatment of Erectile Dysfunction (ED).

Erectile Dysfunction Devices Market: Key Trends

• Rise in prevalence of prostate cancer: The rising incidence of prostate cancer increases the risk of erectile dysfunction, which leads to the expansion of the market for global erectile dysfunction devices. These devices aim to provide solutions for men experiencing erectile dysfunction by improving blood flow and aiding in achieving and maintaining erections. As the demand for these devices continues to grow, manufacturers are investing in research and development to enhance their effectiveness and cater to a wider range of users.

Erectile Dysfunction Devices Market: Restraint

• Risks associated with the use of erectile dysfunction devices: Penile skin bruises, hematoma, hematuria, infection of the penile skin, painful erections, and difficulties having sex after infection or pain are some of the negative effects of shockwave therapy. If a Phosphodiesterase-5 (PDE5) inhibitor is not taken, another side effect that occurs is the advancement of Lower Urinary Tract Symptoms (LUTS). This is so that a distant, chosen anatomic location can be affected by a shock wave, a type of acoustic wave that can be targeted and focused non-invasively. In extracorporeal shock wave therapy (ESWT) for ED, the penile shaft is subjected to low-intensity shock waves at a predetermined energy setting for a predetermined number of shocks per minute, for a predetermined treatment period, and for a predetermined number of sessions.To tackle the side effects of the erectile dysfunction device, the introduction of new technologies by more research, investment, and technological collaboration is needed.

Erectile Dysfunction Devices Market - Key Players

The major players operating in the Erectile Dysfunction Devices Market include Boston Scientific Corporation, Coloplast Corp., Zephyr Surgical Implants, Owen Mumford Ltd., Augusta Medical Systems, Storz medical AG, Promedon, The Elator, Timm Medical, Silimed, Giddy, Alma Lasers, and Futura Medical plc.

*Definition: Erectile Dysfunction Devices are used for the treatment of patients who are suffering from erectile dysfunction. And the devices are the upcoming and emerging treatment for male patients, and the market will also exponentially expand in the coming decade. These devices are designed to assist in achieving and maintaining an erection by improving blood flow to the penis. They offer a non-invasive and drug-free alternative to other treatment options, providing convenience and discretion for users. Additionally, the growing awareness about these devices among healthcare professionals and patients alike is expected to further drive their adoption in the market. Furthermore, the advancements in technology have led to the development of more sophisticated and user-friendly devices, enhancing their effectiveness and ease of use. This, coupled with the increasing prevalence of erectile dysfunction, is anticipated to fuel the demand for these devices in the foreseeable future.