Erectile Dysfunction Devices Market Insights, Competitive Landscape and Market Forecast–2026
Erectile Dysfunction Devices Market By Product (Penile Implants, Shockwave Therapy Devices, Vacuum Therapy Devices, Others), By Approach (Invasive, Non-Invasive), By End-User (Hospitals And Clinics, Ambulatory Surgical Centers (Asc), Others), By Geography is expected to grow at a steady CAGR forecast till 2026 owing to growing cases of erectile dysfunction and increase in geriatric population of men
Global Erectile Dysfunction Devices Market was valued at USD 1.62 billion in 2020, growing at a CAGR of 9.44% during the forecast period from 2021 to 2026, to reach USD 2.77 billion by 2026. The Erectile Dysfunction Devices market is expected to witness significant growth owing to the growing cases of erectile dysfunction, increase in the geriatric population of men, sedentary lifestyle that involves smoking, alcohol consumption, obesity, and technological advancements among Erectile Dysfunction Devices product development.
Erectile Dysfunction Devices Market Dynamics:
Erectile Dysfunction Devices Market has significantly increased owing to the rising prevalence of erectile dysfunction (ED) cases among men. Moreover, as per the CDC 2021, getting aged doesn’t cause ED, but it does increase the chances of being affected by it. Thereby, an increase in the geriatric population of men is a significant factor that boosts the growth of the Erectile Dysfunction Devices Market.
Some recent studies have suggested that there is a link between heart diseases like hypertension and erectile dysfunction. Penis requires adequate blood flow for erection, if the heart is not working properly, a person will be affected with erectile dysfunction. Similarly, it is also linked with an increased risk of diabetes. As per the Centers for Disease Control and Prevention 2021, men with diabetes are three times more likely to have ED.
According to the Smoking statistics provided by the Centers for Disease Control and Prevention 2021, smoking is also one of the factors known for the cause of erectile dysfunction in males.
Thus, the burgeoning cases of cardiovascular disease and day-to-day lifestyle patterns associated with smoking, alcohol consumption will contribute to the Global Erectile Dysfunction Devices Market growth.
In addition, the integration of advanced technologies into Erectile Dysfunction Devices is advancing at a great pace. For instance, in January 2020, Morari Medical developed a wearable device that treated premature ejaculation using neuromodulation. Such technological advancement in the field of Erectile Dysfunction Devices is likely to boost the Global Erectile Dysfunction Devices Market.
The outbreak of the pandemic led to the cancellation of outpatient visits and the suspension of non-emergency hospitals and procedures. This resulted in the reduced number of routine clinical examinations of the gynecological visits and related procedures. However, vaccine development of COVID-19 has initiated the process of economic recovery with the easing of lockdown restrictions and the return of normalcy in the economic landscape which has initiated the process of resumption of regular healthcare services such as outpatients visits and resumption of healthcare services, thereby bringing the demand for products on track in the Erectile Dysfunction Devices market.
However, certain factors like the availability of alternative drugs, and the high cost of invasive devices may restrict the growth of the Global Erectile Dysfunction Devices Market.
Erectile Dysfunction Devices Market Segment Analysis:
Erectile Dysfunction Devices Market By Product (Penile Implants, Shockwave Therapy Devices, Vacuum Therapy Devices, Others), By Approach (Invasive, Non-Invasive), By End-User (Hospitals and Clinics, Ambulatory Surgical Centers (ASC), Others) and by Geography (North America, Europe, Asia-Pacific, and Rest of the World).
In the product segment of the Erectile Dysfunction Devices market, the Vacuum Therapy Devices market segment will hold the major share of the Global Erectile Dysfunction Devices market. The large market share of this product segment can be attributed to the growing adoption of these devices, their simplicity, and the overall good satisfaction of patients. These devices are cost-effective and FDA-approved.
Moreover, Vacuum Therapy Devices do not require any medication or surgery to be implanted and are least invasive thus, gaining commercial acceptability, which improves market penetration.
Thus, all the above-mentioned factors are significantly boosting the market growth. Thus, the Vacuum Therapy Devices segment is also expected to grow during the forecast period, which will also help in driving the overall Global Erectile Dysfunction Devices Market growth.
North America is expected to dominate the overall Global Erectile Dysfunction Devices Market:
North America is expected to dominate the overall Erectile Dysfunction Devices market during the forecast period. This domination is owing to the growing prevalence of erectile dysfunction cases in the region. As per CDC 2021, ED is common among middle-aged and older men, and almost 30 million in the United States have it.
Most men suffer from erection problems frequently. These problems can occur at any age. But they are more common in older men, who often have other health problems. Other health problems, such as diabetes, high blood pressure, anxiety, depression, and drinking too much alcohol or smoking are major causes of erectile dysfunction among men. Hypertension is additionally another major disorder that causes male erectile dysfunction, and as reported by CDC in 2018, the prevalence of hypertension has grown at a substantial rate, with approximately 65 million people affected by the condition within the United States.
Thus, the burgeoning cases of erectile dysfunction, cardiovascular diseases like hypertension will contribute to the growth of the Erectile Dysfunction Devices Market in the region as the demand is very high.
Further, in North America and at the global level the United States represents the largest market worldwide supported by developed healthcare infrastructure and strong adoption of technologically advanced products owing to the rise in healthcare expenditure by the government. One such technological advancement was in January 2021, Alma Lasers launched Alma Duo, a device for treating Erectile Dysfunction (ED) in men. It uses the shock wave technology-focused low-intensity extracorporeal shock wave therapy (LI-ESWT). Making it available in North America only.
Europe and Asia-Pacific region have the future potential growth for the Global Erectile Dysfunction Devices market. This is owing to the rising burden of smoking, tobacco, and alcohol consumption rates in the European region countries and Asian countries. Rising product launch and commercialization agreements among the key manufacturers and other companies are anticipated to boost the Erectile Dysfunction Devices market. For instance, in September 2020, a european company, Francis Medical announced that it received a $4 million equity investment from erectile dysfunction key player Coloplast. Such initiatives are anticipated to boost the Erectile Dysfunction Devices Market.
Erectile Dysfunction Devices Market Key Players:
Some of the key market players operating in the Global Erectile Dysfunction Devices Market include Coloplast Corporation, Zimmer Aesthetics, Augusta Medical Systems, Medispec Ltd., MTS Medical UG, NOVAmedtek, Shenzhen Huikang Medical Apparatus Co., Ltd., Promedon, Boston Scientific Corporation, Global Life Technologies LLC, Zephyr Surgical Implants, UroMatrix Medical Systems, Pos-T-Vac Medical, Owen Mumford Ltd, Vacurect Manufacturing (PTY) Ltd., The Elator, SILIMED, Tyna International Ltd., STORZ MEDICAL AG, Reflexonic, LLC, and others.
Recent Developmental Activities in the Erectile Dysfunction Devices Market:
In January 2021, manufacturer Giddy launched Eddie, a first-of-its-kind, wearable, FDA Class II erectile dysfunction device, which works with the natural physiology of an erection.
In January 2020, Launch Medical launched The Rocket, the world's first at-home treatment device that utilizes soundwave therapy to completely reverse symptoms of ED. The benefit of the device is that it improves sexual performance without drugs, has no side effects, and has zero downtime.
In July 2019, Boston Scientific Corporation launched the Tactra™ Malleable Penile Prosthesis in the United States for the treatment of erectile dysfunction (ED).
Key Takeaways from the Erectile Dysfunction Devices Market Report Study
Market size analysis for current market size (2020), and market forecast for 5 years (2021-2026)
The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Erectile Dysfunction Devices market.
Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
Key companies dominating the Global Erectile Dysfunction Devices Market.
Various opportunities are available for the other competitor in the Erectile Dysfunction Devices Market space.
What are the top-performing segments in 2020? How these segments will perform in 2026.
Which are the top-performing regions and countries in the current market scenario?
Which are the regions and countries where companies should have concentrated on opportunities for Erectile Dysfunction Devices market growth in the coming future?
Target Audience who can be benefited from this Erectile Dysfunction Devices Market Ket Report Study
Erectile Dysfunction Devices providers
Research organizations and consulting companies
Erectile Dysfunction Devices related organization, association, forum, and other alliances
Government and corporate offices
Start-up companies, venture capitalists, and private equity firms
Distributors and Traders in Erectile Dysfunction Devices
Various End-users want to know more about the Erectile Dysfunction Devices Market and the latest technological developments in the Erectile Dysfunction Devices market.
Frequently Asked Questions for Erectile Dysfunction Devices Market:
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