Penile Prosthesis Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Penile Prosthesis Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Report Digest
Global Penile Prosthesis Market – Overview
Erectile dysfunction is among the most commonly occurring sexual disorder. There are several reasons that may cause such disorder. Some of the common causes are prostate medical procedure, complexities due to diabetes, or some form vascular illness. Penile prosthesis are generally suggested by the medical professional after the unsuccessful use of medication such as Viagra. Penile prosthesis are a type of therapeutic devices that are implanted in the corpora cavernosa of the patient’s penis during the surgery.
Global Penile Prosthesis Market – Notable Developments
Some of the notable developments in the global penile prosthesis market are listed below:
- Recently, Coloplast Inc., a huge brand in the global penile prosthesis market, announced the launch of their new product SpeediCath® Felx Coude Pro. This is the latest version of its well established SpeediCath® series and offers more efficient and reliable solutions.
- In August 2019, Boston Scientific Inc. announced that the company has successfully taken over BTG Plc. This move has helped in bolstering an already impressive product portfolio of Boston Scientific.
- In September 2019, Rigicon announced that the US FDA has given their approval for the commercialization of Rigi10™ Malleable Penile Prosthesis. This approval is expected to cement the position of the company in among the leading players in the market.
Global Penile Prosthesis Market – Drivers and Restraints
A few new technological advances have been developed for the treatment of ED. In addition to this, availability of large range of products such as penile vibrators, external penile support device, tissue builders, endovascular innovation, and nanotechnology are also creating a stir in the market. Naturally, the growth of the global penile prosthesis market is on the rise with such varied range of products to treat the recurring problems.
In addition to this, there has been a considerable rise in the number of people suffering from some form of sexual disorder. These disorders may happen due to indulging into unhealthy habits such as excessive drinking and smoking. Moreover, stress of daily personal and professional life is also an important cause of such problems. This has worked in favor of the global penile prosthesis market as the players are now offering innovative, safe, reliable, and technologically advanced solution for treating such disorders. Naturally, the growth of the market is predicted to be on the higher side.
Global Penile Prosthesis Market – Geographical Outlook
Geographically speaking, the global penile prosthesis market has five key segments viz. Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa. Of these, the global market is currently dominated by the North America region. The regional market is expected to continue to offer a significant contribution over the course of the given forecast period. The growth of the market in North America is primarily attributed to the growing geriatric population in the region. Moreover, increasing prevalence of sexual disorders among younger generation is also helping the market growth.
Market analysts believe that Europe will turn out to the second biggest regional segment for the global penile prosthesis market. The growth of the European market can be credited to the growing cases of erectile dysfunctions. In addition to this, growing number of pelvic medical surgeries is also helping to drive the growth of the Europe market.
On the other hand, Asia Pacific region is projected to grow at a significant pace over the course of the given forecast period. Growing awareness among people, availability of newer therapeutics, and better insurance reimbursement policies are helping to drive the regional market growth.
Penile Prosthesis Market Segmentation
Implant Type
- Non-inflatable Implants
- Inflatable Implants
End-use
- Hospital
- Clinics
- Others
This study provides a particularized anatomy according to the L.E.A.P mechanism
- Latest trends and cardinal growth prospects
- Existing and future insights in growth
- Ascensions in technology
- Pain points
The regional analysis offers market assays across:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
Pain Points
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report