The Erectile Dysfunction Devices Market is estimated to be valued at US$ 1.55 Bn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

The erectile dysfunction devices market comprises devices that aid the male population in gaining and maintaining an erection for satisfactory sexual intercourse. Erectile dysfunction is the inability to attain or maintain an erection firm enough for sexual activity. According to various studies, erectile dysfunction is more prevalent in men aged 40-70 years and its incidences increase with age.

Market Overview:

Erectile dysfunction devices are medical devices used to treat erectile dysfunction in males. These devices include penile pumps, vacuum constriction devices, and penile implants. Penile pumps are non-surgical devices that create a vacuum around the penis to suck blood into penis and induce erection. Vacuum constriction devices also work in a similar way to induce erection. Penile implants are medical devices implanted inside the penis that allow males to get or maintain erections.

Market key trends:

One of the key trends in the Erectile Dysfunction Devices Market Size is growing preference for minimally invasive procedures. Penile pumps and vacuum constriction devices allow treatment of erectile dysfunction through non-invasive procedures. This has boosted their adoption over penile implants which require surgical implantation. Minimally invasive nature of penile pumps and vacuum constriction devices helps reduce pain and recovery time associated with treatment. As more males prefer treatments involving lesser pain and recovery time, demand for non-invasive erectile dysfunction devices is growing substantially in the market.

Porter’s Analysis

Threat of new entrants: The erectile dysfunction devices market requires huge investments for R&D which makes it difficult for new players to enter the market. Bargaining power of buyers: Buyers have moderate bargaining power as there are few alternatives and branded products available in the market. Bargaining power of suppliers: Suppliers have low to moderate bargaining power as raw materials used in production of these devices are available from various resources. Threat of new substitutes: Substitutes like oral medications, penile implants offer low threat currently. Competitive rivalry: Intense due to presence of major global players.

SWOT Analysis

Strength: Branded products with proven efficacy and growing awareness about erectile dysfunction. Weakness: Social stigma associated with erectile dysfunction limits patients to consult doctors. Opportunity: Untapped developing markets and increasing rates of obesity and lifestyle diseases leading to erectile dysfunction. Threats: Stringent regulatory approval process and threat from generics.

Key Takeaways

The global erectile dysfunction devices market is expected to witness high growth, exhibiting CAGR of 9.5% over the forecast period, due to increasing prevalence of erectile dysfunction worldwide. North America is expected to dominate the global erectile dysfunction devices market over the forecast period owing to growing geriatric population and rising obesity rates in the region.

Regional analysis Asia Pacific is poised to witness the fastest growth in the erectile dysfunction devices market during the forecast period. This is attributed to growing medical tourism industry, improving healthcare infrastructure and reimbursement policies in emerging economies such as India and China in the region.

Key players operating in the erectile dysfunction devices market are Boston Scientific Corporation, Coloplast Corp., Zephyr Surgical Implants, Owen Mumford Ltd., Augusta Medical Systems, Storz medical AG, Promedon, The Elator, Timm Medical, Silimed, Giddy, Alma Lasers, and Futura Medical plc.

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