As per the British Association of Urological Surgeons (BAUS), around 10% of the male population on the UK suffer from erectile dysfunction every year. This shows that the demand for penile prosthesis surgery is increasing, driving the global penile prosthesis market. The information is shared by Fortune Business Insights in a report, titled “Penile Prosthesis Market Size, Share and Global Trend By Implant Type (Inflatable penile implant, Malleable penile implant), By End User (Hospitals, Ambulatory Surgery Centers, Urology Centers, Others) and Geography Forecast till 2026.” Patients suffering from erectile dysfunction prefer penile implants as one of the best treatment options. A patient can regain its sexual functioning by implanting a prosthetic device in his scrotum and penis. This procedure further helps the patient to achieve desirable erection. Erectile dysfunction or ED can affect the mental health of a male patient, which directly impacts their healthy lifestyle. A penile prosthesis is a safe medical technique and has proved to be effective for treating ED. This factor is likely to drive the penile prosthesis market growth over the projected horizon.
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Key Players Operating in The Penile Prosthesis Market Include:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Boston Scientific Corporation,
- Zephyr Surgical Implants,
- Rigicon Inc.
- and others
Global Life Technologies’ Erektor to Transform ED Treatment
Among regions, North America is expected to lead the global penile prosthesis market in the forecast years. The increasing prevalence of erectile dysfunction is the major factor driving the market in this region. Furthermore, penile prosthesis implantation offers better clinical benefits, which is better than other treatments. Some of the benefits include less time involvement and minimum side-effects. Technological advancements in healthcare is another factor boosting the factor in this region. This encourages companies to develop new products for the treatment of ED. For instance, Global Life Technologies LLC. Developed a product called Erektor, which can be used externally to get an erection. Such inventions are expected to revolutionize the erectile dysfunction treatment.
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Excessive Cell Phone Usage Can Lead to ED, says Environmental Health Trust
The University of Wisconsin Hospitals and Clinics stated that the prevalence of ED is rising. The study showed that around 5% of males above 40 years and 15% above 70 years suffer from ED across the world. Some of the other symptoms for ED include obesity, spinal cord injuries, hormonal disorders, and diabetes. The rising prevalence of the above-mentioned problems is expected to create growth opportunities for the penile prosthesis market in the forecast period. The penile prosthesis market potential is likely to evolve as the medicines used for ED showed side-effects, affecting the metabolism of the human body. Spurred by this, the demand for penile implants is expected to surge in the forthcoming years. As per a study by the Environmental Health Trust, males who make excessive usage of phones can get affected by ED.
Penile Prosthesis Market Segmentation:
By Implant Type
- Inflatable penile implant
- Malleable penile implant
By End User
- Ambulatory Surgery Centers
- Urology Centers
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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