What Fueled The Previous Growth In The Penile Prosthesis Market?
The penile prosthesis market has seen considerable growth due to a variety of factors.
• The penile prosthesis market has shown strong growth in recent years. It will increase from $1.36 billion in 2024 to $1.49 billion in 2025, with a compound annual growth rate (CAGR) of 10.0%.
This is attributed to a rise in tobacco and alcohol consumption, more spinal cord injuries, an increase in erectile dysfunction cases, greater access to healthcare, and rising social insurance awareness.
How Does the Forecast Look for the Penile Prosthesis Market?
The penile prosthesis market is expected to maintain its strong growth trajectory in upcoming years.
• The penile prosthesis market is expected to grow to $2.16 billion by 2029, with a CAGR of 9.6%.
Growth factors include an emphasis on patient-centric strategies, rising chronic disease rates, increased awareness of penile implants, and growing acceptance of advanced treatments. Major trends include technological advancements, expanding healthcare infrastructure, regulatory approvals, and evolving reimbursement policies.
What Are The Leading Drivers Of Growth In The Penile Prosthesis Market?
The escalating cases of erectile dysfunction are projected to stimulate the expansion of the penile prostheses market in the future. Erectile dysfunction, which refers to the ongoing failure to obtain or sustain an erection suitable for pleasing sexual activity, often brings about frustrations or complications in relationships. Factors such as an aging population, lifestyle modifications like sedentary living and unhealthy diet, the increasing occurrence of chronic illnesses like diabetes and hypertension, and psychological distress in today's society, all contribute to the rising number of erectile dysfunction cases. Penile prostheses offer an enduring remedy for men affected by erectile dysfunction, enabling them to reclaim their sexual functionality and enhance their life quality. For instance, data from the US-based National Library of Medicine (NLM) in April 2023 revealed that around 10.3 million men were diagnosed with erectile dysfunction by their healthcare providers and sought treatment in the United States in 2022. Moreover, roughly 1.7 million men were determined to be potential candidates for penile prosthesis implementation. Consequently, the escalating cases of erectile dysfunction are propelling the expansion of the penile prostheses market.
Fueling Penile Prostheses Market Growth: Higher Awareness of Penile Diseases
How Are The Segments Defined Within The Global Penile Prosthesis Market?
The penile prosthesis market covered in this report is segmented –
1) By Implant Type: Inflatable Penile Implant, Malleable Penile Implant
2) By Material: Silicone, Bioflex, Other Materials
3) By End User: Hospitals, Ambulatory Surgery Centers, Urology Centers, Other End User
Subsegments:
1) By Inflatable Penile Implant: Two-Piece Inflatable Penile Implant, Three-Piece Inflatable Penile Implant
2) By Malleable Penile Implant: Semi-Rigid Malleable Penile Implant, Fully Rigid Malleable Penile Implant
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How Are New Trends Impacting The Size Of The Penile Prosthesis Market?
Key participants in the penile prostheses market are prioritizing the production of novel products, like penile prosthesis pumps, in an effort to improve the product's ease of use, reliability, and patient satisfaction. The objective of penile prosthesis pumps is to simplify the usage process of penile prosthesis, therefore potentially reducing the learning curve for patients and increasing overall satisfaction with the device. For instance, the U.S. medical device company, Boston Scientific Corporation, received FDA approval for its state-of-the-art TENACIO Pump, a component of the AMS 700 inflatable penile prosthesis, in November 2023. The TENACIO Pump is designed to elevate the user experience with the device by resolving problems like valve system sticking, which used to require medical attention. The pump features ridges for easier patient access, increased space between the pump and deflate valve for better differentiation, alongside a revamped valve system to curb sticking.
Who Are the Key Players In The Penile Prosthesis Market?
Major companies operating in the penile prosthesis market are:
• Giant Medical.
• Boston Scientific Corporation
• Olympus Corporation
• Coloplast A/S
• Mentor Corporation
• Silimed
• American Medical Systems Inc
• Promedon S.A.
• Zephyr Surgical Implants
• G Surgiwear Limited
• SofMedica
• Rigicon Inc
• Giant Medical Corporation
• Advin Health Care
• Penuma Penile Implant
• Rigicon
• eska medi?cal
• Titan Medical
• Eska Jonas Prosthesis
• Ams Urology
What Is The Most Dominant Region In The Penile Prosthesis Market?
North America was the largest region in the penile prosthesis market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the penile prosthesis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
