Market Size – The erectile dysfunction devices market size has grown rapidly in recent years. It will grow from $1.66 billion in 2023 to $1.87 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The growth in the historic period can be attributed to an increase in awareness of erectile dysfunction, an increase in acceptance of treatment options, an increase in the aging population, a rise in high prevalence of chronic conditions, increase in improvements in device safety and efficacy.
The erectile dysfunction devices market size is expected to see rapid growth in the next few years. It will grow to $3.01 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%. The growth in the forecast period can be attributed to the rising prevalence of erectile dysfunction, increasing focus on personalized treatments, growing telemedicine and remote consultations, a rise in supportive healthcare policies and insurance coverage, and increasing non-invasive treatment options. Major trends in the forecast period include the development of smart devices with integrated monitoring, the adoption of minimally invasive treatments, the adoption of home-based treatment options, advancements in biocompatible materials, and the integration of artificial intelligence for personalized care.
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Scope Of Erectile Dysfunction Devices MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Erectile Dysfunction Devices Market Overview
Market Drivers –The rise in prostate cancer prevalence is projected to significantly drive the growth of the erectile dysfunction devices market in the future. Prostate cancer originates in the prostate gland, a small organ located below the bladder in men, responsible for producing a component of semen. The increasing number of prostate cancer cases can be attributed to factors such as aging populations, improved detection methods, and lifestyle changes that may contribute to the disease’s prevalence. Erectile dysfunction devices play a crucial role for prostate cancer patients by enhancing sexual function and quality of life post-treatment, which often impacts erectile capabilities. For instance, in January 2024, Cancer Australia, an Australia-based government-operated cancer control agency, estimated that there would be 24,217 new cases of prostate cancer diagnosed in Australia in 2022. Furthermore, a male in 2022 had an estimated 1 in 6 (or 17%) risk of being diagnosed with prostate cancer by the age of 85, with an age-standardized incidence rate projected at 151 cases per 100,000 males, and a 1 in 55 (or 1.8%) risk of dying from prostate cancer by age 85. Therefore, the increasing prevalence of prostate cancer is a driving force behind the growth of the erectile dysfunction devices market through 2023, into 2024, and expectedly beyond to 2028.
Market Trends – Major companies operating in the erectile dysfunction devices market are developing technologically advanced products, such as non-invasive erectile dysfunction devices, to gain a competitive edge in the market. A non-invasive erectile dysfunction device is a medical tool designed to enhance or restore erectile function without requiring surgical procedures, often utilizing methods like vacuum therapy, electrical stimulation, or penile implants that do not penetrate the body. For instance, in June 2024, Ohh Med Medical, an Israel-based medical equipment manufacturer, launched the VerticaPlus device for erectile dysfunction. This innovative device features a unique cloud-based mobile app that enhances the therapy experience by offering real-time feedback and quality tracking. The upgraded version incorporates the app as a personal coach throughout the treatment, providing ongoing feedback, step-by-step tutorials, and customized settings to deliver more precise and effective therapy.
The erectile dysfunction devices market covered in this report is segmented –
1) By Device Type: Non-Surgical Devices, Surgical Devices
2) By Cause: Diabetes, Neurological Disorders, Hypertension, Other Causes
3) By Approach: Invasive, Non-Invasive
4) By Age Group: Less Than 40 Years, 40-60 Years, More Than 60 Years
5) By End-User: Hospitals, Clinics, Ambulatory Surgical Centers, Other End-Users
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Regional Insights – North America was the largest region in the erectile dysfunction devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the erectile dysfunction devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies in the market are Boston Scientific Corporation, Medline Industries LP, Coloplast Corporation, Hollister Incorporated, MTS Medical AG, Alma Lasers Ltd., Owen Mumford Ltd., Shenzhen Huikang Medical Apparatus Co. Ltd., Storz Medical AG, UroMatrix Medical Systems, Medispec Ltd., Zephyr Surgical Implants, Timm Medical Technologies Inc., Promedon GmbH, Zimmer MedizinSysteme GmbH, Mercury Healthcare Pvt. Ltd., Rigicon Inc., NOVAmedtek, Tyna International Ltd., Vacurect, The Elator, Pos-T-Vac Medical Inc., Silimed Indústria de Implantes
Table of Contents 1. Executive Summary2. Erectile Dysfunction Devices Market Report Structure3. Erectile Dysfunction Devices Market Trends And Strategies4. Erectile Dysfunction Devices Market – Macro Economic Scenario5. Erectile Dysfunction Devices Market Size And Growth…..27. Erectile Dysfunction Devices Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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