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Penile Implants Market

Penile Implants Market

Penile Implants Market Analysis By Type (Inflatable Implants, Non-inflatable Implants), By End User (Hospitals, Ambulatory Surgery Centers, Urology Centers), & By Region - Global Market Insights 2022-2027

Penile Implants Market
FACT7713MR
  • Sep-2022
  • List of Tables : 25
  • List of Figures : 132
  • 170 Pages
  • Healthcare

Penile Implants Market Outlook (2022-2027)

The global penile implants market is currently valued at US$ 272.4 million. Worldwide sales of penile implants are predicted to increase at a CAGR of 2.2% and account for a valuation of US$ 303.7 million by 2027.

Global inflatable penile implant sales are expected to progress at a CAGR of 2.6% during the next five years and reach US$ 212 million by 2027, attributed to ongoing innovations in inflatable penile prosthesis such as more durable and flexible components.

Report Attributes

Details

Penile Implants Market Size (2022E)

US$ 272.4 Million

Forecasted Market Value (2027F)

US$ 303.7 Million

Global Market Growth Rate (2022-2027)

2.2% CAGR

China Market Value (2027F)

US$ 53 Million

Share in Medical Implants Market (2022)

0.2%

Key Companies Profiled

  • Zephyr Surgical Implants
  • Boston Scientific Corporation
  • Coloplast
  • Promedon
  • Rigicon Inc.
  • Giant Medical LLC

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Demand Analysis of Penile Implants (2017-2021) Vs. Market Projections (2022-2027)

Penile implants, commonly referred to as penile prosthesis, are a typical treatment for erectile dysfunction (ED). Inflatable implants and non-inflatable implants are types of penile implants.

Modern penile implants were first used more than 45 years ago, but since then they have undergone significant advancements in function and materials science. These devices have continued to be useful and will almost definitely continue to be helpful over the coming years despite the development of highly effective oral medication for ED.

Even while penile implants have a high level of efficacy, there is always room for advancement in both the implants themselves and the procedures and surgical methods utilized to install them.

Early in the 1970s, F. Brantley Scott created the first modern inflatable penile implant, and Hernan Carrion & Michael Small created the modern malleable penile implant.

Modern penile implants are technological wonders with exceptional longevity and great patient satisfaction rates. One of the main factors boosting the market size of penile implants is the rising incidence of erectile dysfunction disorder as a symptom of related comorbidities such as diabetes, liver disorder, renal disease, vascular diseases, and atherosclerosis.

In addition to this, it is anticipated that increased rates of obesity, spinal cord injuries, hormone abnormalities, and heart disease would all contribute to an increase in erectile dysfunction, which will increase the demand for penile prosthesis procedures.

Although penile elongation surgery is less frequently performed, urology and plastic surgeons work together in this procedure for better results. The two most common surgical justifications for penile elongation surgery are congenital and acquired micropenis.

Treatment for these patients aims to regain a functioning penis size to permit gratifying sexual encounters, enable proper standing urination, and enhance the patient quality of life. Many men who want their penises to grow longer actually have normal-length penises, but they nonetheless feel small, this is due to a psychological disorder known as "penile dysmorphophobia." Many men with these conditions undergo micropenis penile implantation surgery to enlarge their penis size.

According to a recent market study on penile implants by Fact.MR, a market research and competitive intelligence provider, global sales of penile implants are expected to expand at a CAGR of 2.2% from 2022 to 2027 and reach US$ 303.7 million by 2027.

Penile implants market forecast by Fact.MR

Which Factors are Increasing the Rate of Penile Prosthesis Implantation Surgeries?

“Both Physical & Mental Disorders Resulting in ED Disorders, Responsible for High Sales of Erectile Dysfunction Implants”

  • As the combined widespread presence of moderate to total erectile dysfunction climbs from around 22% at age 40 to 49% by age 70, the erectile dysfunction disorder is extremely age-dependent, according to a paper on the epidemiology of ED from Boston University. Even though it is less frequent in younger men, 5%–10% of men under the age of 40 still experience erectile dysfunction.

Erectile dysfunction and both physical and mental well-being are closely related. Erectile dysfunction issues can also be brought on by diabetes, hypertension, cardiovascular disease, and depression medications.

Men who have received radiation or surgery for prostate cancer, or who have lower spinal cord damage or other neurological illnesses, also have a higher prevalence of erectile dysfunction. Erectile dysfunction is also linked to pelvic trauma, particularly perineal injuries and fractures.

Due to the technological advancements, less traumatic nature of these operations and the benefits of a quicker recovery, the demand for the surgical procedure of erectile dysfunction with a penile implant have significantly increased.

Thus, the growing prevalence of erectile dysfunction disorder supports the penile prosthesis market growth.

An Adaptive Approach to Modern-day Research Needs

What Challenges are Faced by Penile Implant Manufacturers?

“Lack of Awareness, Poor Product Availability, & Difficult Accessibility of Implantation Procedures”

The risks associated with penile implant inserts, such as infections, embed problems, and internal disintegration, as well as an increase in complaints about penile length loss, too-hard pumps, and improper soreness of the glans of the penis, are anticipated to be a restraint on the growth of penile implants market. Furthermore, the less accessibility of less invasive erectile dysfunction treatment options is also expected to hamper the market growth.

Penile implant market size is also hampered by a lack of knowledge and awareness of treatment procedures, lack of product availability and less accessibility to invasive erectile dysfunction treatment options in some geographic regions.

Which Region Accounts for High Demand for Penile Implants?

“Presence of Highly Advanced Surgical Systems & Qualified Urologists in North America”

North America dominates the penile implants market and is expected to account for a higher market share. The presence of highly advanced surgical equipment & skilled urologists in the region, the rise in preference for outpatient settings for minimal-invasive surgical procedures, the presence of sophisticated healthcare facilities, the rising demand for surgical treatment options for a better romantic life, and a supportive reimbursement framework for medical procedures are some of the factors propelling market growth in the North America region.

Over the coming years, the market in Europe is expected to expand dramatically. One of the main factors influencing the market in the region is the high incidence of various urological problems as well as the increased prevalence of chronic diseases such as diabetes, renal disorders, and more brought on by unhealthy lifestyles, boosting the growth of erectile dysfunction disorders.

Due to rising awareness of penile implant treatments, a sizable population living with erectile dysfunction and the availability of cutting-edge tools and equipment in many nations to perform the procedures on an outpatient basis, the Asia Pacific penile market is anticipated to rise at the highest CAGR.

Country-wise Analysis

How is Demand for Penile Implants Evolving in the U.S.?

“Large Number of Men Living with Erectile Dysfunction Disorder Makes the U.S. a High Potential Market”

Erectile dysfunction is significantly influenced by cardiovascular disease. Nearly 50% of men who have substantial erectile dysfunction are known to have coronary artery disease, which is determined by cardiac catheterization.

This is partially due to the same size and propensity for atherosclerosis issues shared by the coronary arteries and penile cavernous arteries. Smaller cavernous arteries are more likely to experience atherosclerotic plaque occlusion early, leading to vasculogenic ED years before coronary artery disease manifests clinically.

  • According to data from the Prostate Cancer Prevention Trial Database, experiencing ED raised cardiovascular risk is a manner comparable to smoking or having a family history of myocardial infarctions.
  • According to the best data currently available by the National Library of Medicine, about 52% of U.S. men between the ages of 40 and 70 experience erectile dysfunction. At least 30 to 50 million men in the U.S. and at least 150 million men worldwide are thought to have ED.
  • Due to reporting bias, cultural considerations, a general failure by many doctors to inquire about their male patients' sexual health, and embarrassment difficulties, these figures are probably a significant underestimation of the real number of men with erectile dysfunction.

Erectile dysfunction is frequently associated with ageing and other co-morbid conditions such as diabetes, hypogonadism, and cardiovascular disease. Thus, rising cases of erectile dysfunction are expected to raise sales of penile implants.

Why is Demand for Penile Implants High in China?

“Rising Rate of Male Sexual Dysfunction Cases & Awareness of Treatment Procedures”

In Asian countries as contrasted to Europe, male sexual dysfunctions (MSDs) frequently go undetected and untreated because of strict religious and cultural beliefs, socioeconomic factors, and a lack of understanding. There is a propensity for the use of traditional medications, noncompliance with current healthcare standards, and restricted access to such services.

Male sexual dysfunction is characterised by changes to at least one of the fundamental sexual functions (desire, orgasm, erection, and ejaculation). Hypoactive sexual desire disorder, erectile dysfunction, anorgasmia or difficulty in reaching orgasm, and premature or delayed ejaculation are the most typical MSD-related complaints.

  • According to the National Library of Medicine, around 38% of Chinese men live with erectile dysfunction. In China, only 6% of men with ED sought out medical assistance.

However, growing awareness and knowledge regarding treatment procedures, availability of advanced surgical equipment, and rising cases of ED are expected to fuel the growth of the penile implants market. Sales of penile implants are expected to progress around a CAGR of 2% from 2022 to 2027.

Category-wise Analysis

Why are Inflatable Penile Implants Mostly Preferred?

“High Patient Satisfaction Level & Lower Risk of Associated Infections with Inflatable Penile Implants”

The inflatable penile implants segment is expected to dominate the market throughout the forecast period and reach US$ 212.2 million by 2027.

Key elements driving up sales of inflatable penile implants are decreased malfunction rates, decreased rates of associated infections during implant surgery, and high patient satisfaction levels.

Due to cost and reliability issues, malleable penile implants are frequently demanded in regions such as Europe and the Asia Pacific. However, the durability and lower infection risks of inflatable penile implants are driving up demand quickly.

Inflatable penile implants are being developed by manufacturers, which are more affordable, robust, and flexible. Some of the advancements being developed by the companies include remote-controlled and heat-activated penile implants.

Most experts agree that inflatable penile implants produce a more realistic flaccid appearance and enable closer simulations of typical physiological erections. A wider segment of the global ED population could obtain inflatable devices due to interventions that lower the cost of implant materials (for example, lower-cost methods to create medical-grade silicone) and/or the arrival of rivals into the market.

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Competitive Landscape

Major companies in the penile implants industry include Coloplast, Boston Scientific, Rigicon Inc., and Zephyr Surgical Implants (ZSI).

Recent Developments in Penile Implants Market

  • The two most popular inflatable three-piece penile implants used in the surgical procedure are Rigicon's Infla10 and Boston Scientific's AMS 700.
  • A novel approach to the treatment of erectile dysfunction was introduced in March 2019 by the Palm Beach Gardens Medical Centre, a medical facility with headquarters in Florida. For those patients with erectile dysfunction, the program offers penile prosthesis.
  • In July 2019, Boston Scientific Corporation introduced Tactra, its newest malleable penile implant product, as a treatment for erectile dysfunction.

Key Segments in Penile Implants Industry Research

  • By Type :

    • Inflatable Implants
    • Non-inflatable Implants
  • End User :

    • Hospitals
    • Ambulatory Surgery Centers
    • Urology Centers
    • Others
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

- FAQs -

The global penile implants market is expected to expand at 2.2% CAGR from 2022 to 2027.
The global market for penile implants is set to reach a valuation of US$ 303.7 million by 2027.
Global revenue from penile implants is currently US$ 272.4 million.
Boston Scientific Corporation, Coloplast, Promedon, and Rigicon Inc. are key manufacturers of penile implants.
Sales of inflatable penile implants are set to increase at a CAGR of 2.6%.

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