PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1320147
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1320147
The Erectile Dysfunction Devices Market size was valued at USD 1,600.1 Million in 2022, expanding at a CAGR of 8.78% from 2023 to 2030.
Medical devices used to treat erectile dysfunction (ED) are intended to help men achieve or maintain an erection. When other therapies, including drugs or dietary modifications, have failed, these devices are often employed. Penile implants, which are surgically implanted to offer mechanical support for an erection, and vacuum erection devices, which produce a vacuum and pump blood into the penis, are two common erectile dysfunction devices.
Due to the possibility of erectile dysfunction as an adverse consequence of prostate cancer treatment, the rise in the incidence of prostate cancer is pushing the market for erectile dysfunction devices. The most common cancer among American males is prostate cancer. According to projections from the American Cancer Society, there will be around 34,700 new instances of prostate cancer and approximately 288,300 deaths from the disease in the United States in 2023. Erectile dysfunction can be negatively impacted by prostate cancer therapies such as radiation therapy, surgery, and hormone therapy. In order to treat erectile dysfunction in prostate cancer patients, there is an increasing need for equipment such as vacuum erection devices, penile implants, and other therapies.
The Global Erectile Dysfunction Devices Market is segmented on the basis of Devices Type, Age Group, End-user, and Region.
The market is divided into three categories based on Devices Type: non-surgical devices and surgical devices. The surgical devices segment dominates the market. Owing to the growing use of surgical treatments to address severe or persistent erectile dysfunction. Patients who fail to respond well to conventional non-surgical therapies might benefit from surgical procedures like penile implants, which provide long-lasting and efficient remedies.
The market is divided into two categories based on End-users: hospitals, ambulatory surgery centers, and clinics. The hospital sector dominates the market. The demand for ED devices in the hospital sector is being driven by increasing awareness of the device and the involvement of persons who received professional treatment.
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the market, due to a growth in the elderly population, a rise in ED cases, and the availability of improved healthcare infrastructure. According to a September 2022 report by MSD Manuals, around 50% of American males between the ages of 40 and 70 have some level of ED, and the rate rises with age.
Companies sell their products through a variety of channels, including corporate websites, e-commerce websites, retailers, distributors, and end consumers. Products makers compete on a variety of aspects, including product costs, performance, product making, technology, reputation, and availability. Some of the primary techniques used by corporations to strengthen their reach and expand their market share include new product launches, distribution network development, R&D spending, and mergers and acquisitions. For instance, in June 2023, Rigicon, Inc. released the HL-LEVINE Combo Prosthesis Tool, which combines the HL dilator tool with the standard Furlow instrument, both of which are utilized in penile implant surgery.
In May 2023, Vertica is a medical device created by Ohh-Med, a medtech company based in the Tiberias Industrial Zone, to enhance the lives of hundreds of thousands of men who suffer from erectile dysfunction (ED). In June 2021, the Israel Ministry of Health gave Vertica permission to sell directly to buyers, and in December 2022, the CE-MDR gave Vertica permission to advertise throughout the whole EU.
The scope of this report covers the market by its major segments, which include as follows: