Erectile Dysfunction Devices Market by Type (Vacuum Constriction Devices, Penile Implants), Source (Vascular, Neurologic disorder), End-user (Hospital, Ambulatory Surgery Center), & Region (North America, Europe, Asia) - Global Forecast to 2028
The global erectile dysfunction devices market in terms of revenue was estimated to be worth $1.7 billion in 2023 and is poised to reach $2.7 billion by 2028, growing at a CAGR of 8.8% from 2023 to 2028. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. The growth in this market is attributed to the growing prevalence of erectile dysfunction with rise in the prevalence of prostate cancer, vascular and neurological disorders. However, the high costs associated with erectile dysfunction devices restrain the growth of this market.
Attractive Opportunities in the Erectile Dysfunction Devices Market
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Erectile Dysfunction Devices Market Dynamics
DRIVER: Increase in prevalence of prostate cancer
Prostate cancer treatment possesses the most common side effect for erectile dysfunction as it reduces the body’s ability to generate testosterone. Thus, low testosterone will impact one’s libido, which makes them unable to maintain an erection. According to the WHO, 209,512 patients were living with prostate cancer in the US in 2020, and this figure is projected to increase to 257,264 by 2040. Whether the nerves were spared or not at the time of surgery or whether the most precise dose planning was used or not at the time of radiation therapy, the most common side effect after the treatment is erectile dysfunction. This is due to the delicate nerve and blood vessels which control the erection that is the physical aspect, and the changes could be seen due to any kind of trauma.
RESTRAINT: Risk associated with the use of erectile dysfunction devices
The side effects of shockwave treatment include penile skin bruising, hematoma, hematuria, infection of penile skin, painful erection, and difficulty having intercourse after infection or pain. The progression of lower urinary tract symptoms (LUTS) in lieu takes place as another side effect if not taking the PDE5 inhibitor. This is because a shock wave is a kind of acoustic wave that transfers energy that can be targeted and focused non-invasively to affect a distant selected anatomic region. ESWT for ED involves applying low-intensity shock waves to the penile shaft at a specified energy setting for a predetermined number of shocks per minute and for a set treatment duration and the number of treatments.
OPPORTUNITY: Technological advancement
Advancement in technology is important for the development of more effective and user-friendly ED devices. This includes improving vacuum erection devices (VEDs), penile implants, and other device options. As erectile function issues are most common, researchers are looking into new ways constantly to treat issues such as erectile dysfunction. A new treatment that is under development is Low-intensity Shock Treatment. Extracorporeal low-intensity shockwave therapy, or LIST, involves the use of acoustic waves to generate pressure impulses, which could vascularize the tissue inside the penis and promote blood flow.
CHALLENGE: Low awareness regarding prostate health among men
Among men aged 40 years and older, prostate cancer is a common cause of morbidity and mortality. It has been shown that prostate cancer awareness plays a key role in its early detection. However, among men aged over 50 years, the awareness of prostate health is alarmingly low, according to a new survey commissioned by the European Association of Urology (despite the fact that at the age of 60 and over, 40% of men suffer from an enlarged prostate).
Erectile Dysfunction Devices Ecosystem
Prominent companies in this market include well-established, financially stable manufacturers of hyperspectral cameras and accessories. These companies have been operating in the market for several years and possess a diversified product portfolio, state-of-the-art technologies, and strong global sales and marketing networks. Prominent companies in this market include Boston Scientific Corporation (US), Rigicon, Inc. (US), Coloplast Group (Denmark), Promedon GmbH (Argentina), and Zephyr Surgical Implants (Switzerland).
In 2022, penile implants segment to observe the highest share of the erectile dysfunction devices industry, by type.
Based on the products, the global erectile dysfunction devices market is broadly segmented into vacuum constriction devices, penile implants, shockwave therapy, and other device types. Shockwave therapy segment to observe the highest growth rate during the forecast period. The high growth rate can be attributed to this non-invasive treatment, with no pills or medications, growing manufacturers for the shockwave devices, and increasing research for ED treatment with shockwave therapy.
In 2022, more than 60 years segment to dominate the erectile dysfunction devices industry, by age group.
Based on age group, the erectile dysfunction devices market is segmented into less than 40 years, 40–60 years, and more than 60 years. More than 60 years to dominate the market due to the increased prevalence of age related prostate cancer and CVDs in this age group which could lead to erectile dysfunction as prevalence of ED increases with age and the targeted diseases.
In 2022, North America to dominate in erectile dysfunction devices industry.
The global erectile dysfunction devices market is segmented into North America, Europe, Asia Pacific, and Rest of the World. North America is expected to dominate during the forecast period, primarily due to sedentary lifestyle and a growing number of people living with diabetes and CVDs, technologically advanced devices are available, and the infrastructure of healthcare is well-established.
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The erectile dysfunction devices market is dominated by players such as Boston Scientific Corporation (US), Rigicon, Inc. (US), Coloplast Group (Denmark), Promedon GmbH (Argentina), and Zephyr Surgical Implants (Switzerland).
Scope of the Erectile Dysfunction Devices Industry
|
Report Metric |
Details |
|
Market Revenue in 2023 |
$1.7 billion |
|
Projected Revenue by 2028 |
$2.7 billion |
|
Revenue Rate |
Poised to Grow at a CAGR of 8.8% |
|
Market Driver |
Increase in prevalence of prostate cancer |
|
Market Opportunity |
Technological advancement |
This research report categorizes the Erectile dysfunction devices market to forecast revenue and analyze trends in each of the following submarkets:
By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
By Type
- Vacuum Constriction Devices
- Penile Implants
- Shockwave Therapy
- Other Device Types
By Age Group
- Less than 40 years
- 40-60 years
- More than 60 years
By Cause
- Vascular Disorders and Diabetes
- Neurological Disorders
- Other Causes
By End User
- Hospitals and ASCs
- Clinics
Recent Developments of Erectile Dysfunction Devices Industry
- In 2023, Rigicon, Inc. (US) introduced the HL-LEVINE Combo Prosthesis Tool, which is a combination of the HL dilator tool and the traditional Furlow instrument, which are both used for penile implant surgery.
- In 2022, Advanced MedTech Holdings (Singapore) acquired Shenzhen Huikang Medical Apparatus Co., Ltd. (China). This acquisition expanded Advanced MedTech’s urological market access in China via a comprehensive nationwide sales and service network and an established local R&D, manufacturing, and supply chain ecosystem.
- In 2022, Wikkon’s extracorporeal shock wave lithotripter, model HK.ESWL-108A was successfully installed at Maria Clinic, Dili, East Timor.
Frequently Asked Questions (FAQ):
What is the projected market revenue value of the global erectile dysfunction devices market?
The global erectile dysfunction devices market boasts a total revenue value of $2.7 billion by 2028.
What is the estimated growth rate (CAGR) of the global erectile dysfunction devices market?
The global erectile dysfunction devices market has an estimated compound annual growth rate (CAGR) of 8.8% and a revenue size in the region of $1.7 billion in 2023.
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8 ERECTILE DYSFUNCTION DEVICES MARKET, BY CAUSE (Page No. - 82)
The objective of the study is to analyze the key market dynamics, such as drivers, opportunities, challenges, restraints, and key player strategies. To track company developments such as acquisitions, product launches, expansions, collaborations, agreements, and partnerships of the leading players, the competitive landscape of the erectile dysfunction devices market to analyze market players on various parameters within the broad categories of business and product strategy. Top-down and bottom-up approaches were used to estimate the market size. To estimate the market size of segments and subsegments, the market breakdown and data triangulation were used.
The four steps involved in estimating the market size are
Collecting Secondary Data
The secondary research data collection process involves the usage of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B), annual reports, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the market. A database of the key industry leaders was also prepared using secondary research.
Collecting Primary Data
The primary research data was conducted after acquiring knowledge about the market scenario through secondary research. A significant number of primary interviews were conducted with stakeholders from both the demand side (such as hospitals and research institutes) and supply side (such as included various industry experts, such as Directors, Chief X Officers (CXOs), Vice Presidents (VPs) from business development, marketing, and product development teams, product manufacturers, wholesalers, channel partners, and distributors) across major countries of North America, Europe, Asia Pacific, and Rest of the World. Approximately 40% of the primary interviews were conducted with stakeholders from the demand side, while those from the supply side accounted for the remaining 60%. Primary data for this report was collected through questionnaires, emails, and telephonic interviews.
A breakdown of the primary respondents is provided below:
Breakdown of Primary Participants:
Note 1: *Others include sales managers, marketing managers, and product managers.
Note 2: Tiers are defined based on a company’s total revenue as of 2022: Tier 1=> USD 1 billion, Tier 2 = USD 500 million to USD 1 billion, and Tier 3=< USD 500 million.
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Market Size Estimation
All major product manufacturers offering various erectile dysfunction devices were identified at the global/regional level. Revenue mapping was done for the major players and was extrapolated to arrive at the global market value of each type of segment. The market value erectile dysfunction devices market was also split into various segments and subsegments at the region and country level based on the:
- Product mapping of various manufacturers for each type of market at the regional and country-level
- Relative adoption pattern of each market among key application segments at the regional and/or country-level
- Detailed primary research to gather qualitative and quantitative information related to segments and subsegments at the regional and/or country level.
- Detailed secondary research to gauge the prevailing market trends at the regional and/or country-level
Bottom-Up Approach: Patient-Based Approach
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Data Triangulation
After arriving at the overall market size—using the market size estimation processes—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the Erectile dysfunction devices industry.
Market Definition
Erectile dysfunction is defined as the persistent inability to achieve or maintain a penile erection sufficient for satisfactory sexual performance. Most men suffer from erectile dysfunction, which is caused by physical problems usually related to the blood supply of the penis. An erectile dysfunction pump is a device used to help achieve and maintain an erection by drawing blood into the penis via air suction. It is not a cure for erectile dysfunction, but it can help increase the ability to have sexual intercourse.
Key Stakeholders
- Senior Management
- Finance/Procurement Department
- Doctors/Technician
Report Objectives
- To provide detailed information about the factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
- To define, describe, segment, and forecast the erectile dysfunction devices market by type, age group, cause, end user, and region.
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
- To analyze micro markets with respect to individual growth trends, prospects, and contributions to the overall market
- To forecast the size of the market in five main regions along with their respective key countries, namely, North America, Europe, the Asia Pacific, Rest of the world.
- To profile key players in the market and comprehensively analyze their core competencies and market shares
- To track and analyze competitive developments, such as acquisitions; product launches; expansions; collaborations, agreements, & partnerships; and R&D activities of the leading players in the market.
- To benchmark players within the market using the Competitive Leadership Mapping framework, which analyzes market players on various parameters within the broad categories of business and product strategy
Available Customizations
MarketsandMarkets offers the following customizations for this market report:
- Additional country-level analysis of the Erectile dysfunction devices market
- Profiling of additional market players (up to 5)
Product Analysis
- Product matrix, which provides a detailed comparison of the product portfolio of each company in the Erectile dysfunction devices Market
Growth opportunities and latent adjacency in Erectile Dysfunction Devices Market