Erectile Dysfunction Devices Market

Updated on : Aug 22, 2024

Erectile Dysfunction Devices Market Size, Share & Trends

The size of 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 comprehensive research encompasses an exhaustive examination of industry trends, meticulous pricing analysis, patent scrutiny, insights derived from conferences and webinars, identification of key stakeholders, and a nuanced understanding of market purchasing dynamics.

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.

Erectile Dysfunction Devices Market Trends

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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

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.

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