SAN FRANCISCO, Aug. 11, 2020 /PRNewswire/ — The global penile implants market size is estimated to reach USD 640.5 million by 2027 and is expected to witness a CAGR of 4.5%, according to a new report by Grand View Research, Inc. Increasing incidence of Erectile Dysfunction (ED) disorder on a global level as a symptom of associated comorbidities such as diabetes, renal disease, liver disorder, vascular conditions, and atherosclerosis, is a key factor driving the market.
Key suggestions from the report:
- The inflatable type segment held the largest market share in 2019 and is expected to witness a high growth rate during the forecast period. Improved design, more durability, less rate of infections, and more customer satisfaction are the factors likely to boost segment growth
- In the U.S., the three piece-penile implants segment accounted for the largest market share attributed to the high success rate and lesser post-surgical complications
- Hospital dominated the end-use segment because the majority of these procedures are still being carried out in hospital-based inpatient and outpatient facilities
- Among the end-use segments, the ASCs are expected to witness a high growth rate during the forecast period. The increasing adoption of technologically advanced products in the ASCs has changed the way surgeons operate in these facilities. The inclusion of minimally invasive penile procedures under ambulatory surgery is driving segment growth
- Acquisition, partnership, and technological advancements are the key strategies followed by the market leaders.
Read 150 page research report with ToC on “Penile Implants Market Size, Share & Trends Analysis Report By Type (Inflatable, Non-inflatable), By End-use (Hospital, Ambulatory Surgery Centers), By Region (North America, Europe, APAC, Latin America, MEA), And Segment Forecasts, 2020 – 2027″ at: https://www.grandviewresearch.com/industry-analysis/penile-implants-market
Erectile Dysfunction (ED) is a very common problem among men aged 30 years and above. An article from the Massachusetts Male Aging Study states that around 52.0% of men experience some form of ED and that total ED increases from about 5 to 15% between ages 40 and 70. The development of advanced penile implants/prostheses for surgical treatment of ED is another major factor driving the market. For instance, in July 2019, Boston Scientific launched its new malleable Tactra penile implant to treat erectile dysfunction. Most of the penile procedures can be carried in an ambulatory setting thus, reducing the need for hospital admissions.
Grand View Research has segmented the global penile implant market on the basis of type, end-use, and region:
- Penile Implants Type Outlook (Revenue, USD Million, 2016 – 2027)
- Inflatable
- Non-inflatable/malleable
- Penile Implants End-use Outlook (Revenue, USD Million, 2016 – 2027)
- Hospital
- Ambulatory Surgery Center (ASC)
- Others
- Penile Implants Regional Outlook (Revenue, USD Million, 2016 – 2027)
- North America
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Asia Pacific
- Latin America
- Middle East & Africa
- List of Key Players of Penile Implants Market
- Zephyr Surgical Implants
- Boston Scientific Corporation
- Coloplast
- Promedon
- Rigicon Inc.
Find more research reports on Medical Devices Industry, by Grand View Research:
- Implantable Loop Recorders Market – Global implantable loop recorders market size was estimated at USD 1.0 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 9.6% from 2020 to 2027.
- Cochlear Implant Market – Global cochlear implant market size was valued at USD 1.67 billion in 2019 and is likely to grow at a compound annual growth rate (CAGR) of 10.6% from 2020 to 2027.
- Corneal Implants Market – Global corneal implants market size was valued at USD 386.4 million in 2019 and is anticipated to register a compound annual growth rate (CAGR) of 6.5% from 2020 to 2027.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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