Global Erectile Dysfunction Devices Market Forecast 2024-2033: Estimated Market Size And Growth Rate
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033
The erectile dysfunction devices market size has shown rapid growth in recent years, projected to increase from $1.66 billion in 2023 to $1.87 billion in 2024, at a CAGR of 12.6%. This growth in the historical period can be attributed to increased awareness of erectile dysfunction, greater acceptance of treatment options, an aging population, a rise in the prevalence of chronic conditions, and improvements in device safety and efficacy. The market is expected to grow to $3.01 billion by 2028, at a CAGR of 12.7%. The anticipated growth during the forecast period is driven by the rising prevalence of erectile dysfunction, an increasing focus on personalized treatments, a growing trend of telemedicine and remote consultations, supportive healthcare policies and insurance coverage, and an increase in non-invasive treatment options. Major trends in this period include the development of smart devices with integrated monitoring, the adoption of minimally invasive treatments, home-based treatment options, advancements in biocompatible materials, and the integration of artificial intelligence for personalized care.
The rise in prostate cancer prevalence is projected to significantly drive the growth of the erectile dysfunction devices market in the future. Prostate cancer originates in the prostate gland, a small organ located below the bladder in men, responsible for producing a component of semen. The increasing number of prostate cancer cases can be attributed to factors such as aging populations, improved detection methods, and lifestyle changes that may contribute to the disease’s prevalence. Erectile dysfunction devices play a crucial role for prostate cancer patients by enhancing sexual function and quality of life post-treatment, which often impacts erectile capabilities. For instance, in January 2024, Cancer Australia, an Australia-based government-operated cancer control agency, estimated that there would be 24,217 new cases of prostate cancer diagnosed in Australia in 2022. Furthermore, a male in 2022 had an estimated 1 in 6 (or 17%) risk of being diagnosed with prostate cancer by the age of 85, with an age-standardized incidence rate projected at 151 cases per 100,000 males, and a 1 in 55 (or 1.8%) risk of dying from prostate cancer by age 85. Therefore, the increasing prevalence of prostate cancer is a driving force behind the growth of the erectile dysfunction devices market through 2023, into 2024, and expectedly beyond to 2028.
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What Are The Key Trends That Influence Erectile Dysfunction Devices Market Share Analysis?
Major companies in the erectile dysfunction devices market are innovating technologically advanced products, such as non-invasive erectile dysfunction devices, to gain a competitive edge. These devices are designed to enhance or restore erectile function without surgical intervention, often employing methods like vacuum therapy, electrical stimulation, or non-penetrating penile implants. For example, in June 2024, Ohh Med Medical, an Israel-based medical equipment manufacturer, introduced the VerticaPlus device for erectile dysfunction. This innovative device features a unique cloud-based mobile app that enhances the therapy experience by providing real-time feedback and quality tracking. The updated version incorporates the app as a personal coach throughout the treatment, offering ongoing feedback, step-by-step tutorials, and customized settings for more precise and effective therapy.
Which Market Players Are Driving Growth In The Erectile Dysfunction Devices Market?
Major companies operating in the erectile dysfunction devices market are Boston Scientific Corporation, Medline Industries LP, Coloplast Corporation, Hollister Incorporated, MTS Medical AG, Alma Lasers Ltd., Owen Mumford Ltd., Shenzhen Huikang Medical Apparatus Co. Ltd., Storz Medical AG, UroMatrix Medical Systems, Medispec Ltd., Zephyr Surgical Implants, Timm Medical Technologies Inc., Promedon GmbH, Zimmer MedizinSysteme GmbH, Mercury Healthcare Pvt. Ltd., Rigicon Inc., NOVAmedtek, Tyna International Ltd., Vacurect, The Elator, Pos-T-Vac Medical Inc., Silimed Indústria de Implantes
How Is The Global Erectile Dysfunction Devices Market Segmented?
The erectile dysfunction devices market covered in this report is segmented –
1) By Device Type: Non-Surgical Devices, Surgical Devices
2) By Cause: Diabetes, Neurological Disorders, Hypertension, Other Causes
3) By Approach: Invasive, Non-Invasive
4) By Age Group: Less Than 40 Years, 40-60 Years, More Than 60 Years
5) By End-User: Hospitals, Clinics, Ambulatory Surgical Centers, Other End-Users
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The Erectile Dysfunction Devices Global Market Report 2024 provides an overview of the erectile dysfunction devicesmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The erectile dysfunction devices market forecast analyzes erectile dysfunction devices market size, erectile dysfunction devices market share, leading competitor and their market positions.
The Table Of Content For The Erectile Dysfunction Devices Market Include
1. Erectile Dysfunction Devices Market Executive Summary
2. Erectile Dysfunction Devices Market Segments
3. Erectile Dysfunction Devices Market Size And Template Market Growth Rate
4. Key Erectile Dysfunction Devices Market Trends
5. Major Erectile Dysfunction Devices Market Drivers
……
25. Key Mergers And Acquisitions In The Erectile Dysfunction Devices Market
26. Top Erectile Dysfunction Devices Companies
27. Erectile Dysfunction Devices Market Opportunities And Strategies
28. Erectile Dysfunction Devices Market, Conclusions And Recommendations
29. Appendix
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