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How has the penile implants market grown in recent years?

The market size for penile implants has witnessed a swift expansion recently. It is projected to grow from a value of $1.93 billion in 2024 to a valuation of $2.12 billion in 2025, with a compound annual growth rate (CAGR) of 10.0%. The substantial growth during the historic period can be traced back to factors such as growing occurrences of erectile dysfunction (ED), the aging world population, higher frequency of diseases like diabetes, an increase in hypertension cases, and the growing prevalence of cardiovascular disease.

How is the penile implants market size expected to evolve during the forecast period?

Expected to experience robust expansion in the coming years, the penile implants market is forecasted to reach a valuation of $3.07 billion in 2029, sporting a compound annual growth rate (CAGR) of 9.7%. This predicted growth within the forecast period can be credited to Factors like the increasing occurrence of chronic illnesses, amplified attention towards men’s health and wellness, the continued push for more advanced and effective implant devices through research, a heightened focus on patient awareness, and a growing demand for comprehensive solutions. The forecast period is also anticipated to witness major trends including a transition towards less invasive surgical procedures, the provision of personalized penile implants (inflatable and malleable), enhancements in the design of penile implants (better comfort, longevity, and utility), elevated levels of patient contentment with and acceptance of penile implants, along with the integration of advanced technology.

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Which key drivers are propelling the penile implants market’s growth?

The increasing occurrence of erectile dysfunction (ED), a condition characterized by an ongoing inability to achieve or maintain an erection for satisfactory sexual activity, is anticipated to boost the penile implants market. This upsurge is due to factors such as increasing age, escalating lifestyle-related conditions like diabetes, obesity, and cardiac diseases, psychological factors such as stress, and enhanced understanding and diagnosis due to healthcare advancements. With pharmacological treatments ineffective for certain patients, penile implants offer a long-lasting and efficient solution, subsequently improving the patient’s quality of life and providing a permanent treatment for severe cases. As reported by ED Clinics in January 2022, an estimated 40%-55% of men between 40 and 70 in the UK experience ED, roughly 4.3 million men. It’s projected that the global cases of ED will rise from 152 million in 1995 to 322 million by 2025. As such, the increasing ED cases are propelling the penile implants market. The penile implants market is also set for growth due to the heightened knowledge and approval of sexual health. Sexual health refers to the comprehensive state of physical, mental, emotional, and social aspects linked to sexuality and centers on respect, safety, and informed decision-making. This broader acceptance of sexual health is crucial in empowering individuals, reducing stigma, and encouraging informed decisions concerning sexual well-being and relationships. Penile implants are integral in this awareness drive, offering effective, permanent solutions to erectile dysfunction, promoting open conversations, helping to diminish stigma, and emphasizing the significance of seeking medical assistance for sexual health. As per the UK Health Security Agency in July 2024, the number of consultations conducted by Sexual Health Services in England increased by 5.0% in 2023 compared to 2022, with in-person consultations increasing 7.9% and online ones growing 7.5%. Thus, the rise in awareness and acceptance of sexual health is also fostering the growth of the penile implants market.

What are the market segments in the penile implants industry?

The penile implants market covered in this report is segmented –

1) By Implant Type: Inflatable Penile Implants, Malleable Penile Implants, Semi-Rigid Penile Implants

2) By Patient Type: Vascular Impotence Patients, Psychogenic Impotence Patients, Neurological Impotence Patients

3) By Material: Silicon, Bioflex, Other Materials

4) By Deployment Method: Outpatient Procedure, Inpatient Procedure

5) By End User: Hospital, Ambulatory Surgery Centers, Urology Centers, Other End Users

Subsegments:

1) By Inflatable Penile Implants: Two-Piece Inflatable Penile Implants, Three-Piece Inflatable Penile Implants

2) By Malleable Penile Implants: Single-Component Malleable Implants, Multi-Component Malleable Implants

3) By Semi-Rigid Penile Implants: Semi-Rigid Rod Implants, Semi-Rigid Adjustable Implants

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Which leading companies are shaping the growth of the penile implants market?

Major companies operating in the penile implants market are Bristol Myers Co., Medline Industries, Boston Scientific Corporation, Coloplast Corp, Hollister Incorporated, Fortis Healthcare, Noble Healthcare, SILIMED, Medscape Ltd., Promedon S.A., Zephyr Surgical Implants, Augmenta LLC, Rigicon Inc, Advin Health Care, Penuma, Vacurect, Shah Prosthesis, LipoMatrix Inc., Kirch Urologie BV, Milux Holding SA

What are the key trends shaping the future of the penile implants market?

Major companies operating in the penile implants market are focusing on developing innovative products such as penile prosthesis pumps to enhance patient and physician experience by improving reliability, simplifying usage, and streamlining post-operative training for inflatable penile prostheses. A penile prosthesis pump is a device implanted in the scrotum that allows users to create an erection by manually pumping fluid from a reservoir into inflatable cylinders within the penis. For instance, in November 2023, Boston Scientific, a US-based medical technology company, announced FDA approval for its Tenacio pump, a component of the AMS 700 inflatable penile prosthesis (IPP). The Tenacio pump introduces automation, enabling automatic deflation with a single press of the deflation button, addressing reliability concerns like stiction syndrome and enhancing usability. This innovation simplifies device training for patients, potentially reducing the learning curve and saving time for physicians during post-operative orientations.

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Which geographic areas are influencing the growth of the penile implants market?

North America was the largest region in the penile implants market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the penile implants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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