Erectile dysfunction (ED) devices aid in achieving and maintaining an erection
during sexual activity in men suffering from ED. Commonly used ED devices
include penile pumps, penile implants, and medicated urethral system for
erection. These devices offer viable treatment solutions with minimal side
effects to men who do not respond well to oral medications. The demand for ED
devices is growing owing to the preference for minimally invasive treatments
among men.
The global erectile dysfunction devices
market is estimated to be valued at US$ 1.86 Bn in 2024 and is expected to
exhibit a CAGR of 9.5% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the erectile dysfunction devices market are 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. These players are
focusing on new product launches and strategic collaborations to gain a
competitive advantage in the market.
The rising awareness about Erectile
Dysfunction Devices Market Demand treatment options through various
social media platforms and online forums is resulting in increased acceptance
of devices among patients. Additionally, favorable reimbursement policies in
developed regions are encouraging the adoption of devices.
The erectile dysfunction devices market is witnessing rapid global expansion
driven by the rising geriatric population suffering from lifestyle diseases.
The key players are focusing on tapping opportunities in untapped emerging
markets of Asia Pacific and Middle East & Africa through partnerships with
local distributors.
Market Drivers
Increasing preference for minimally invasive treatments owing to advantages
such as quick recovery time, negligible pain and scarring is a major market
driver. additionally, growing acceptance of penile implants due to their
ability to produce firm erections at will is fueling the adoption. Significant
improvements in design, functionality and safety of modern ED devices as
compared to early models have garnered widespread confidence among patients and
healthcare providers alike.
PEST Analysis
Political: The erectile dysfunction devices market is regulated by bodies like
the FDA in the US and regulatory authorities in other regions. Regulations
determine which devices can be sold, and manufacturers must comply with quality
and safety standards.
Economic: The overall economic growth and disposable incomes determine how much
individuals and healthcare systems can spend on treatment devices. Recessions
may temporarily impact spending on non-critical devices.
Social: Older age, obesity, and lifestyle diseases are increasing the
prevalence of erectile dysfunction. Greater awareness and openness in society
are reducing the stigma around the condition and treatment options.
Technological: Advancements are enabling devices to be more effective, easy to
use, and discrete. New materials, mechanisms of action, and methods of
production help lower costs and expand the applicability of devices. Telehealth
is enabling virtual consultations.
The erectile dysfunction devices market sees high demand in countries with
large elderly populations and developed healthcare infrastructure like the
United States, Germany, France, and Japan. These regions account for over 60%
of the global market value currently.
The Asia Pacific region has emerged as the fastest growing market for erectile
dysfunction devices. This is driven by rising living standards, growing medical
capabilities, and an aging population especially in large economies like China
and India. Improving access to devices and increasing willingness to seek
treatment are expected to support continued double-digit growth rates in the
Asia Pacific market over the forecast period.
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Author:
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Pandya, Content
Writer, has a strong foothold in the market research industry. She specializes
in writing well-researched articles from different industries, including food
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