The global penile implants or penile prosthesis market is anticipated to expand at a CAGR of 4.6 % during the forecast period, 2021 – 2028. Erectile dysfunction (ED) is often a symptom of another ailment such as renal diseases, liver disorders, atherosclerosis vascular conditions, and diabetes. Rising incidences of ED and these ailments is boosting the market.
Penile prostheses, also known as penile implants, are used to treat ED. Penile implant is a medical device used for treatment of male sexual conditions such as erectile dysfunction, premature ejaculation, treatment resistance impotence, and penile diseases. During the surgery, an inflatable or flexible rod is placed inside the penis. An inflatable rod is affixed with a device that fills it with a saline solution with the help of a pump that is hidden in the scrotum. When the user presses on the pump, the saline solution travels to the device and inflates it, giving him an erection.
Men who have tried non-surgical ED treatments undergo penile implants or penile prosthesis. Increasing demand for surgical treatments of ED with penile implants include procedures, which are less traumatic and facilitate quick recovery. These surgeries are performed in ambulatory surgical centers, due to high patient satisfaction and cost-effectiveness.
Market Trends, Drivers, Restraints, and Opportunities:
- Increasing incidences of ED and rising awareness about penile diseases and advanced products and procedures are expected to boost the market in the near future.
- Growing awareness about cost-effectiveness, minimal recovery time, and high rate of patient satisfaction are expected to boost the penile implants or penile prosthesis market.
- Changing lifestyle habits with work-related stress and high consumption of alcohol and tobacco are key factors driving the market in the coming years.
- Growing awareness about the side-effects of implants, increased risks of bleeding and infection, chances of mechanical failure, stringent regulations, and availability of alternative treatment are likely to hinder the penile implants or penile prosthesis market during the forecast period.
- Rising technological advancements, growing adoption of minimally invasive surgeries (MIS), and growing disposable income are creating opportunities in the market.
Scope of Penile Implants Or Penile Prosthesis Market Report
The report on the global penile implants or penile prosthesis market research report includes an assessment of the market, trends, segments, and regional markets.
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Attributes
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Details
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Report Title
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Penile Implants or Penile Prosthesis Market- Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Types (Inflatable Devices and Semirigid Devices), Applications (Hospitals and Non-hospitals)
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Regional Scope
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North America, Latin America, Europe, Asia Pacific, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Trends, and Revenue Forecast
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Key Players Covered in the Report
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American Medical Systems (Boston Scientific), Coloplast, Silimed, Giant Medical, Eska Medical, Promedon, and Zephyr Surgical Implants
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Penile Implants Or Penile Prosthesis Market Segment Insights
Inflatable device segment accounts for a considerable market share
Based on types, the market is segmented into inflatable devices and semi-rigid devices. The inflatable penile implant segment held a large share of the market in 2020 and is expected to grow at a rapid pace during the forecast period. Companies developing inflatable penile implants are developing products to reduce the rate of malfunction, decrease susceptibility to infections, and increase patient satisfaction, which in turn, is fueling the segment.
Furthermore, the demand for inflatable devices is increasing, as they are highly durable and reduce susceptibility to infections. Companies are developing inflatable penile implants, which are less costly, durable, and flexible, which in turn, is fueling the segment.
Hospital segment dominates the market
On the basis of applications, the penile implants or penile prosthesis market is bifurcated into hospitals and non-hospitals. The hospital segment accounted for a market share of around 60% in 2020. Increasing number of inflatable penile prosthesis procedures being conducted in inpatient or outpatient facilities at hospitals drives the segment. Hospitals are equipped with technologically advanced devices and adopt MIS. Hence, they are preferred by patients, thus propelling the segment.
North America holds a major market share
In terms of regions, the global penile implants or penile prosthesis market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America constituted a dominant share of the global market. Growing demand for surgical treatment options for extended sex life, availability of highly advanced equipment and skilled urologists in the region, rising preference for outpatient settings for MIS procedures, and supportive framework for medical treatments are some factors boosting the market in the region.
The penile implants or penile prosthesis market in Asia Pacific is expected to expand at a high CAGR, due to growing awareness regarding penile procedures, increasing population of people suffering from ED, and availability of advanced tools and equipment in many countries.
Segments
The global penile implants or penile prosthesis market has been segmented on the basis of
Types
- Inflatable Devices
- Semi-rigid Devices
Applications
Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Players
Competitive Landscape
Key players operating in the global penile implants or penile prosthesis market include American Medical Systems (Boston Scientific), Coloplast, Silimed, Giant Medical, Eska Medical, Promedon, and Zephyr Surgical Implants.
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