Erectile Dysfunction Treatment Devices Market: Lessening Stigma and More Awareness Likely to Drive the Growth, TMR
Description - The erectile dysfunction treatment devices market is expected to register a healthy growth, thanks to growing psychological factors such as stress, anxiety, and poor lifestyle choices leading to high cholesterol and cardiovascular diseases. Additionally, increase in varieties and increasing incidence of cancers are expected to drive growth in the erectile dysfunction treatment devices market.
Erectile dysfunction treatment devices market offers various products including vacuum erection device, penile prostheses, malleable implants and, inflatable implants. Increased prevalence of smoking is a huge impetus for the growth of the market. Chain smokers are at a high risk of erectile dysfunction. However, the first step to treat erectile dysfunction is often medication. Medication coupled with high costs of devices are expected to hamper growth of the erectile dysfunction treatment devices market in the near future.
Chronic Illnesses Boost the Market
Companies like The Pill Club, Ro, and Hims have raised a combined $349 mn in venture funding. These companies have launched subscription services which allow patients to message doctors privately through a remote connection. Advancements in digital technology is paving way for patients to get required information online without sacrificing their privacy. This is important for illnesses such as erectile dysfunctions, which are looked down upon due to ignorance. Additionally, some platforms also include Artificial Intelligence driven informational models, which allows a person to freely question without holding anything back.
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The growing awareness and reducing stigma are expected to drive significant growth for the erectile dysfunction treatment devices market in the near future.
Numan, a recent startup received funding for an online startup, which builds self-esteem among men with erectile dysfunction. Startups like these are expected to provide a major boost to the erectile dysfunction treatment devices market due to their positive approach and information driven assistance. Erectile dysfunction is known to affect many men. However, as few as over 2% among young men come out to discuss it openly. The number is expected to much larger as growing stress, anxiety, depression are expected to drive growth of the erectile dysfunction treatment devices market.
Erectile Dysfunction Treatment Devices Market: Segmentation
The global erectile dysfunction treatment devices market can be segmented based on product type, end-user, and geography. In terms of product type, the global erectile dysfunction treatment devices market can be divided into penile implants, external penile support devices, vacuum constriction devices, and erectile dysfunction shockwave generators. The penile implants segment is expected to account for significant share of the erectile dysfunction treatment devices market during the forecast period. Penile implants are surgical prosthetic devices that are implanted within erection chambers of penis. The penile implants segment can be further bifurcated into inflatable and malleable penile implants. Malleable implants consist of a set of two cylindrical rods (bendable enough) that is placed in the corpora of penis. Inflatable penile prosthesis consists of two cylindrical rods attached to reservoir and pump. These are surgically implanted into the lower abdomen. Around 80% to 90% men treated with inflatable penile prosthetic device have shown high levels of satisfaction. External support devices are newly invented devices for the treatment of erectile dysfunction. These are worn externally without any surgical interventions. These devices are developed to provide length and rigidity to penis and are worn during the sexual intercourse. Low intensity extracorporeal shockwave therapy is used in erectile dysfunction shockwave generators. This significantly improves the penile hemodynamics and is likely to induce structural changes to regenerate penile tissue. In terms of end-user, the erectile dysfunction treatment devices market can be segregated into hospitals, ambulatory surgery centers, and specialty clinics.
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Erectile Dysfunction Treatment Devices Market: Regional Analysis
Based on geography, the global erectile dysfunction treatment devices market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe are estimated to account for the leading share of the global erectile dysfunction treatment devices market during the forecast period. Currently, more than 18 million men in the U.S. are being affected by erectile dysfunction. This number is expected to rise over the years. Presence of well-established health care facilities, easy access to health care centers, easy availability of treatment devices, and favorable medical reimbursement policies for implantable penile prosthesis are some of the factors projected to drive the erectile dysfunction treatment devices market in North America & Europe during the forecast period. The erectile dysfunction treatment devices market in Asia Pacific is likely to expand at a fast-paced CAGR during the forecast period.
Erectile Dysfunction Treatment Devices Market: Key Players
Key players operating in the global erectile dysfunction treatment devices market include Global Life Technologies, LLC, Coloplast Corp., The Elator, Tyna International Limited, Boston Scientific Corporation, Zephyr Surgical Implants, Promedon Group, STORZ MEDICAL AG, and Augusta Medical Systems.
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