The global erectile dysfunction devices market is projected to reach USD 2.7 billion by 2028 from USD 1.7 billion in 2023, at a CAGR of 8.8% during the forecast period. Growth in this market is attributed to the rising incidence of prostate cancers, the growing prevalence of diabetes, and the increase in the number of tobacco smokers.
The major players operating in erectile dysfunction devices market are Boston Scientific Corporation (US), Rigicon, Inc. (US), Coloplast Group (Denmark), Promedon GmbH (Argentina), and Zephyr Surgical Implants (Switzerland). These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities to further expand their presence in the erectile dysfunction devices market.
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BOSTON SCIENTIFIC CORPORATION (US)
Boston Scientific is a leading player in the erectile dysfunction devices market and manufactures and provides erectile dysfunction devices through its Urology segment. Boston Scientific’s large share in this market can be attributed to its extensive product portfolio and strong sales and distribution network, which enables it to effectively market its products across the globe. In line with this, the company has a strong geographic presence (manufacturing facilities and R&D facilities) across the US, Canada, France, Singapore, Costa Rica, Ireland, the Netherlands, Japan, China, and Turkey.
COLOPLAST GROUP (DENMARK)
Coloplast is a prominent player in the erectile dysfunction devices market. The company’s leading position in this market can be attributed to its strong pipeline of new products, sustained cost discipline, and adoption of new strategies to enhance its product portfolio based on new technologies available in the market. The interventional urology business of the company has witnessed organic sales growth of 9% in 2021-22, which was almost double the overall market growth rate. This growth was supported by both the Men’s and Women’s Health segments in the US and the Endourology segment in Europe (notably in France).
RIGICON, INC. (US)
Rigicon is one of the prominent players in the erectile dysfunction devices market, with a wide product portfolio. Religion has grown to establish a global presence in North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. It has conducted product launches to strengthen its product portfolio and increase its share in the market. For instance, in June 2023, it launched the new HL-LEVINE Combo Prosthesis Tool, which is a combination of an HL dilator tool and a traditional Furlow instrument, which are both used for penile implant surgery.
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
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