(PharmaNewsWire.Com, February 15, 2024 ) The report "Erectile Dysfunction Devices Market by Type (Vacuum Constriction Devices, Penile Implants), Source (Vascular, Neurologic disorder), End-user (Hospital, Ambulatory Surgery Center), & Region (North America, Europe, Asia) - Global Forecast to 2028", is projected to reach USD 2.7 billion by 2028 from USD 1.7 billion in 2023, at a CAGR of 8.8% during the forecast period. The growth of this market is majorly driven by growing research and development around shockwave therapy used for erectile dysfunction treatment and the rise in the geriatric population, which are more prevalent in prostate cancers.
The penile implants segment is expected to account for the largest share in 2022.
The erectile dysfunction devices market, by type, has been segmented into vacuum constriction devices, penile implants, shockwave therapy, and other device types. The penile implants segment accounted for the largest share of erectile dysfunction devices by type, in 2022. The large share of this segment is attributed to its durability and advancements in implant technology which are expected to drive the erectile dysfunction devices market.
The vascular disorders and diabetes segment held the largest market share in the erectile dysfunction devices market.
By cause, the global erectile dysfunction devices market is broadly segmented into vascular disorders and diabetes, neurological disorders, and other causes. The vascular disorders and diabetes segment has accounted for the largest share by cause, in 2022. The growing incidence of diabetes and age related CVDs will drive the market during the forecast period.
North America dominates the global erectile dysfunction devices market.
Based on the region, the erectile dysfunction devices market is segmented into North America, Europe, Asia Pacific, and Rest of the World. The North American market is driven by the growing number of prostate cancer and the number of ASCs in the region. Asia Pacific is the second-largest market for erectile dysfunction devices, characterized by an increase in the geriatric population coupled with a rise in the prevalence of CVDs are the major factors driving the market in Asia Pacific.
Major players in the erectile dysfunction devices market include Boston Scientific Corporation (US), Rigicon, Inc. (US), Coloplast Group (Denmark), Promedon GmbH (Argentina), and Zephyr Surgical Implants (Switzerland).
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