Global demand for penile implants is expected to increase at a CAGR of 2.2% from 2022 to 2027 and reach a market valuation of US$ 303.7 million by 2027, says Fact.MR, market research, and competitive intelligence provider. A penile prosthesis is a medical technique that can improve the quality of life for male patients with (ED) erectile dysfunction. ED is a condition where the penis is unable to maintain its erectile position for an extended period of time, which results in erectile dysfunction disorder and negatively impacts the patient’s ability to lead a healthy lifestyle. Problems with erectile dysfunction can affect a person’s mental health and other lifestyle-related issues.
There are many different medications and surgical techniques available to treat ED, but penile implants are the most reliable and effective method of treatment since they offer far more effective care and can treat the majority of patient populations. They are significantly more effective implants than any other treatments or surgeries. Inflatable implants and non-inflatable implants are types of penile implants. Inflatable implants are highly popular due to their effective qualities such as patient satisfaction, low risk of infection associated with penile implant placement, and more.
𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗮 𝗦𝗮𝗺𝗽𝗹𝗲 𝗖𝗼𝗽𝘆 𝗼𝗳 𝗧𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁:
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External penile support devices, penile vibrators, tissue engineering, nanotechnology, and endovascular innovation are a few recent developments being developed to treat ED. These developments are required to modify the ED treatment plan. Changes in lifestyle habits, such as consuming alcohol, smoking, and pressure from the workplace, are some of the factors that could propel the penile implants industry in the next 5 years. The prevalence of erectile dysfunctions, growing awareness of penile diseases, and the introduction of cutting-edge implants and systems are some factors anticipated to fuel the growth of the penile implants market during the anticipated period.
𝗖𝘂𝗿𝗿𝗲𝗻𝘁 𝗠𝗮𝗿𝗸𝗲𝘁 𝗧𝗿𝗲𝗻𝗱𝘀:
- Rising Incidence of Erectile Dysfunction: The prevalence of ED is on the rise due to various factors, including aging, chronic health conditions, and lifestyle choices. This increasing prevalence is a key driver of the penile implants market.
- Advancements in Implant Technologies: Innovations in penile implant designs and materials are improving the effectiveness, durability, and patient satisfaction associated with these devices. Developments in inflatable and malleable penile implants offer patients a wider range of options for their specific needs.
- Patient and Physician Awareness: Increased awareness among both patients and healthcare providers about the safety and efficacy of penile implants is contributing to the market’s growth. Men who may have been hesitant to seek treatment for ED are becoming more open to the idea of penile implants.
- Minimally Invasive Procedures: There is a growing trend toward minimally invasive implantation techniques, which reduce surgical trauma and recovery time. These techniques are increasing the appeal of penile implants as a treatment option for ED.
- Reimbursement and Insurance Coverage: Expanding insurance coverage and reimbursement policies for penile implant procedures are making the treatment more accessible to a wider range of patients, which, in turn, is driving market growth.
𝗣𝗿𝗲𝘀𝗲𝗻𝗰𝗲 𝗼𝗳 𝗛𝗶𝗴𝗵𝗹𝘆 𝗔𝗱𝘃𝗮𝗻𝗰𝗲𝗱 𝗦𝘂𝗿𝗴𝗶𝗰𝗮𝗹 𝗦𝘆𝘀𝘁𝗲𝗺𝘀 & 𝗤𝘂𝗮𝗹𝗶𝗳𝗶𝗲𝗱 𝗨𝗿𝗼𝗹𝗼𝗴𝗶𝘀𝘁𝘀 𝗶𝗻 𝗡𝗼𝗿𝘁𝗵 𝗔𝗺𝗲𝗿𝗶𝗰𝗮
North America dominates the penile implants market and is expected to account for a higher market share. The presence of highly advanced surgical equipment & skilled urologists in the region, the rise in preference for outpatient settings for minimal-invasive surgical procedures, the presence of sophisticated healthcare facilities, the rising demand for surgical treatment options for a better romantic life, and a supportive reimbursement framework for medical procedures are some of the factors propelling market growth in the North America region.
Over the coming years, the market in Europe is expected to expand dramatically. One of the main factors influencing the market in the region is the high incidence of various urological problems as well as the increased prevalence of chronic diseases such as diabetes, renal disorders, and more brought on by unhealthy lifestyles, boosting the growth of erectile dysfunction disorders. In addition to this, it is anticipated that increased rates of obesity, spinal cord injuries, hormone abnormalities, and heart disease would all contribute to an increase in erectile dysfunction, which will increase the demand for penile prosthesis procedures.
𝗞𝗲𝘆 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆𝘀 𝗳𝗿𝗼𝗺 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝘁𝘂𝗱𝘆
- The global penile implants market is currently valued at US$ 272.4 million.
- Worldwide sales of inflatable penile implants are expected to increase at a CAGR of 2.6% and reach US$ 212 million by 2027.
- China’s penile implants market is expected to reach US$ 53 million by 2027.
- North America and Asia Pacific are profitable markets for penile implant producers due to growing product awareness and the presence of advanced healthcare infrastructure
𝗪𝗶𝗻𝗻𝗶𝗻𝗴 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆
Manufacturers are concentrating on creating penile implants with cutting-edge technology that are more effective and have better designs.
- The Prosthetics Registry and Outcomes in Urology at Duke was established in January 2018 by the Duke Division of Urology, a U.S.-based institute, with the goal of measuring patient satisfaction following penile implant surgery. With the aid of the gathered data, the new endeavour will assist surgeons in enhancing the quality of surgery.
- Shah’s Penile Implant is a significant participant in India, offering a wide variety of penile implant items all over the nation. The participants compete is based on the cost, accessibility, quality, and diversity of their products.
𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗡𝗲𝘄𝘀 𝗮𝗻𝗱 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁𝘀:
- Advancements in Material and Coating Technologies: Researchers and manufacturers are continually exploring new materials and coatings for penile implants to enhance biocompatibility, reduce the risk of complications, and improve overall patient outcomes.
- Telemedicine Consultations: The COVID-19 pandemic accelerated the adoption of telemedicine in healthcare, including for ED consultations. Many patients are now consulting with urologists and specialists remotely, making it easier to discuss ED treatment options, including penile implants.
- Patient Education and Support: Patient education and support programs are on the rise to provide individuals considering penile implants with the information and resources needed to make informed decisions about their treatment. This includes pre-surgery counseling and post-implant follow-up care.
- Regulatory Approvals: Regulatory bodies such as the U.S. Food and Drug Administration (FDA) continue to work closely with manufacturers to ensure the safety and effectiveness of penile implants. This collaboration is essential for maintaining the quality and integrity of the devices.
- Global Market Expansion: The demand for penile implants is not limited to North America and Europe; it is also growing in emerging markets in Asia, Latin America, and the Middle East. Increasing awareness and improved access to healthcare in these regions are driving market expansion.
𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗟𝗮𝗻𝗱𝘀𝗰𝗮𝗽𝗲
Major companies in the penile implants industry include Coloplast, Boston Scientific, Rigicon Inc., and Zephyr Surgical Implants (ZSI).
𝗥𝗲𝗰𝗲𝗻𝘁 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁𝘀 𝗶𝗻 𝗣𝗲𝗻𝗶𝗹𝗲 𝗜𝗺𝗽𝗹𝗮𝗻𝘁𝘀 𝗠𝗮𝗿𝗸𝗲𝘁
- The two most popular inflatable three-piece penile implants used in the surgical procedure are Rigicon’s Infla10 and Boston Scientific’s AMS 700.
- A novel approach to the treatment of erectile dysfunction was introduced in March 2019 by the Palm Beach Gardens Medical Centre, a medical facility with headquarters in Florida. For those patients with erectile dysfunction, the program offers penile prosthesis.
- In July 2019, Boston Scientific Corporation introduced Tactra, its newest malleable penile implant product, as a treatment for erectile dysfunction.
𝗚𝗲𝘁 𝗖𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗮𝘁𝗶𝗼𝗻 𝗼𝗻 𝘁𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁 𝗳𝗼𝗿 𝗦𝗽𝗲𝗰𝗶𝗳𝗶𝗰 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀:
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