Penile Implants Market is segmented By Implant Type (Inflatable, Concealable, Soft, Malleable), By E...
Market Size in USD Mn
CAGR2.2%
Study Period | 2024 - 2031 |
Base Year of Estimation | 2023 |
CAGR | 2.2% |
Market Concentration | Medium |
Major Players | Boston Scientific Corporation, Coloplast Corp, PROMEDON GmbH, SILIMED, ZSI Zephyr Surgical Implants and Among Others |
The rising prevalence of erectile dysfunction among men has been a key factor driving growth in the penile implants market.
As men are becoming increasingly aware of treatment options available for erectile dysfunction, there is less stigma associated with the condition now. More men are willing to acknowledge they have a problem and are actively seeking help.
Overall, as erectile dysfunction is impacting greater numbers of men and they are willing to address it proactively, it has amplified demand for options like penile implants significantly.
Market Driver - Technological Innovations Facilitating Development of Advanced Implants
A key breakthrough was the introduction of inflatable or hydraulic penile implants in the 1980s using hydraulics and a fluid system. These devices could be easily concealed inside the body when not inflated and provided a more natural appearance and feel. Most recent models now have advanced features to improve safety, versatility and performance. Some incorporate antibiotic coatings for enhanced biocompatibility and reduce risk of infection.
Market Challenge - High Cost of Penile Implant Procedures
For many men suffering from erectile dysfunction, the high price tag associated with penile implants presents a significant barrier to treatment. The cost burden often leads patients to opt for less invasive yet potentially less effective treatment options like oral medications or pumps first before considering a surgical solution.
One opportunity area in the penile implants market is the development of new device designs with improvements in infection reduction and reliability. Infections have historically been a challenge with penile prosthetics due to the insertion of foreign materials near the genital region.
Continued innovation to develop more natural feeling and fully inflatable prostheses may further increase patient satisfaction and uptake rates. Manufacturers investing in research to design penile implants with better outcomes have an opportunity to drive penile implants market forward through best-in-class technology.
Insights, By Implant Type: Inflatable Implants Remain in Demand Owing to their Effectiveness and Natural Feel
Inflatable implants consist of three pieces - two cylinders that are surgically inserted into the penis and a small reservoir and pump assembly implanted in the scrotum. Fluid is pumped into the cylinders from the reservoir to achieve and maintain an erection. Deflation occurs by pushing a button on the pump to remove fluid from the cylinders.
Physicians prefer inflatable implants as they are minimally invasive to insert and easy to use. They produce rigidity comparable to a natural erection. Adjustability and the look and feel of a natural erection have boosted patient satisfaction rates with this implant type above other options. Consumers are also receptive to inflatables due to their discretion and enhanced sexual experiences.
Insights, By End User: Hospitals Offer Insurance Coverage and Specialist Expertise
In addition, hospitals have urologists and other specialists trained to perform penile implant surgeries safely and effectively. The procedures require delicate surgical skills and experience with male pelvic anatomy and available implant technologies. Urologists practicing in hospitals are often board-certified and keep up with the latest techniques through hospital-based residency programs and continuing education courses.
The major players operating in the penile implants market include Boston Scientific Corporation, Coloplast Corp, PROMEDON GmbH, SILIMED, ZSI Zephyr Surgical Implants, Rigicon Inc, Advin Health Care, and G.SURGIWEAR LTD.
Penile Implants Market
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Manisha Vibhute is a consultant with over 5 years of experience in market research and consulting. With a strong understanding of market dynamics, Manisha assists clients in developing effective market access strategies. She helps medical device companies navigate pricing, reimbursement, and regulatory pathways to ensure successful product launches.
How big is the penile implants market?
The penile implants market is estimated to be valued at USD 271.4 Mn in 2024 and is expected to reach USD 317.2 Mn by 2031.
What are the key factors hampering the growth of the penile implants market?
High cost of penile implant procedures and risks associated with penile implants, such as infections are the major factors hampering the growth of the penile implants market.
What are the major factors driving the penile implants market growth?
Increased demand for erectile dysfunction treatment and technological innovations that led to development of more effective and reliable implants are the major factors driving the penile implants market.
Which is the leading implant type in the penile implants market?
The leading implant type segment is inflatable.
Which are the major players operating in the penile implants market?
Boston Scientific Corporation, Coloplast Corp, PROMEDON GmbH, SILIMED, ZSI Zephyr Surgical Implants, Rigicon Inc, Advin Health Care, and G.SURGIWEAR LTD are the major players.
What will be the CAGR of the penile implants market?
The CAGR of the penile implants market is projected to be 2.2% from 2024-2031.