Erectile Dysfunction Devices Market, by Device Type (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), By End User (Hospitals, Clinics, and Ambulatory Surgery Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
According to a study published in Journal of Urology, a new type of Penile Traction Therapy (PTT) device can increase penile length and preserve erectile function in men who have undergone prostate cancer surgery (prostatectomy). The result showed that, men receiving PTT had significant improvements in most of the objective or subjective measures evaluated. Which, also included a significant increase in penile length: an average gain of 1.6 centimeters in the PTT group, compared to little or no change (average 0.3 cm) in the control group.
Erectile Dysfunction Devices Market - Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems with regard to the transportation of drugs from one place to another.
Erectile Dysfunction Devices Market: Key Developments
New launches by the key players play an important role in the market expansions of erectile dysfunction devices market. For instances, in January 2021, Giddy, a device manufacturer launched Eddie, a first-of-its-kind, wearable, U.S. FDA (Food and Drug Administration) Class II erectile dysfunction device. The Giddy, a maker of device, claims that its distinct, ergonomic design outperforms existing ones by enhancing the physiological processes that naturally occur during an erection, as opposed to rings and compression devices that might actually have the opposite effect.
Browse 26 Market Data Tables and 25 Figures spread through 157 Pages and in-depth TOC on “Erectile Dysfunction Devices Market”- Forecast to 2030, Erectile Dysfunction Devices Market, by Devices Type (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), by End User (Hospitals, Clinics, and Ambulatory Surgery Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/erectile-dysfunction-devices-market-27
Key Takeaways of the Erectile Dysfunction Devices Market:
- The Erectile Dysfunction Devices Market is expected to exhibit a CAGR of 9.5% during the forecast period. Startups with emerging technologies offer lucrative growth opportunities for players for the Erectile Dysfunction Devices Market. Devices designed to cure erectile dysfunction have the potential to dominate the market and completely change how the condition is managed. These devices offer a non-invasive and convenient solution for individuals suffering from erectile dysfunction, eliminating the need for medication or invasive procedures. With advancements in technology, these devices are becoming more effective and user-friendly, providing hope for a large population of men seeking better quality of life.
- Among devices, the surgical devices segment is expected to grow in the Erectile Dysfunction Devices Market over the forecast period. For instance, an article was published by The Journal of Sexual Medicine 2021, to provide a foundation for future innovation by improving understanding of historical penile prosthetics and the rationale behind incremental technological improvements for the contemporary Men's Health physician. The result showed that, penile prosthetic surgery will undoubtedly remain integral to the treatment of erectile dysfunction, and education regarding the current state of technological innovation will empower the prosthetic surgeon and biomedical engineering community to improve contemporary patient care and drive the development of the next generation of implantable penile prosthetics. Therefore, during the course of the projection period, market growth will be attributed to increased awareness of the use of erectile dysfunction devices and related information.
- Among region, North America is expected to be the dominant region in the Erectile Dysfunction Devices Market owing to the increasing patient pool. For instance, the Journal of Sexual Medicine 2023 published an article which aim was to quantify the number of insured men with Erectile Dysfunction (ED) in the U.S. and project the number of potential candidates for patient and public involvement (PPI) in 2022. The result showed that by utilizing ED prevalence based on administrative claims, an estimated 8.3% of insured men (10,302,540 estimated men [8,882,548 aged 18-64 years and 1,419,992 aged ≥65 years]) had a diagnosis of ED and sought ED care, out of 124,318,519 eligible U.S. men aged ≥18 years in 2022. An estimated 17.1% of men with an ED diagnosis claim could benefit from PPI in 2022 (1,759,248 men aged ≥18 years). Patient self-reported ED prevalence across all ages ranged from 5.1% to 70.2%. The number of males in the United States who could have benefited from PPI, according to scenario studies using the patient self-reported ED prevalence range, could have been more than 1.7 million. Therefore, it was concluded that, the ED disease impact model estimated that approximately 10.3 million men were diagnosed with ED by their healthcare providers and sought ED care in the U.S. in 2022. Of those, 1.7 million men could be PPI candidates and benefit from the treatment option.
- 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.
