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Erectile Dysfunction Devices Market Report, Size, Share, Growth, Trends, Industry Forecast to 2033
Erectile Dysfunction Devices Market
The new report published by The Business Research Company, titled Erectile Dysfunction Devices Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, the erectile dysfunction devices market size has grown rapidly in recent years. It will grow from $1.66 billion in 2023 to $1.87 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The erectile dysfunction devices market size is expected to see rapid growth in the next few years. It will grow to $3.01 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%.
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What Is Driving The Growth Of The Global Erectile Dysfunction Devices Market?
Impact Of Rising Prostate Cancer Rates On The Growth Of The Erectile Dysfunction Device Market
The rise in the prevalence of prostate cancer is expected to propel the growth of the erectile dysfunction devices market going forward. Prostate cancer is a type of cancer that originates in the prostate gland, a small organ located below the bladder in men, which is responsible for producing a component of semen. The rise in prostate cancer cases is attributed to factors such as aging populations, improved detection methods, and lifestyle changes that may contribute to the disease's prevalence. Erectile dysfunction devices assist prostate cancer patients by improving sexual function and quality of life after treatment, which can often impact erectile capabilities. For instance, in January 2024, according to Cancer Australia, an Australia-based government-operated cancer control agency, an estimated 24,217 new cases of prostate cancer will be diagnosed in Australia in 2022. A male in 2022 is estimated to have a 1 in 6 (or 17%) risk of being diagnosed with prostate cancer by the age of 85. Additionally, the age-standardized incidence rate is projected to be 151 cases per 100,000 males, with a 1 in 55 (or 1.8%) risk of dying from prostate cancer by age 85. Therefore, the rise in the prevalence of prostate cancer is driving the growth of the erectile dysfunction devices market.
What Is The Key Trend In The Global Erectile Dysfunction Devices Market?
Innovative Non-Invasive Solutions In The Erectile Dysfunction Device Market
Major companies operating in the erectile dysfunction devices market are developing technologically advanced products, such as non-invasive erectile dysfunction devices, to gain a competitive edge in the market. A non-invasive erectile dysfunction device is a medical tool designed to enhance or restore erectile function without requiring surgical procedures, often utilizing methods like vacuum therapy, electrical stimulation, or penil*e implants that do not penetrate the body. For instance, in June 2024, Ohh Med Medical, an Israel-based medical equipment manufacturer, launched the VerticaPlus device for erectile dysfunction. This innovative device features a unique cloud-based mobile app that enhances the therapy experience by offering real-time feedback and quality tracking. The upgraded version incorporates the app as a personal coach throughout the treatment, providing ongoing feedback, step-by-step tutorials, and customized settings to deliver more precise and effective therapy.
How Is The Global Erectile Dysfunction Devices Market Segmented?
The erectile dysfunction devices market covered in this report is segmented -
1) By Device Type: Non-Surgical Devices, Surgical Devices
2) By Cause: Diabetes, Neurological Disorders, Hypertension, Other Causes
3) By Approach: Invasive, Non-Invasive
4) By Age Group: Less Than 40 Years, 40-60 Years, More Than 60 Years
5) By End-User: Hospitals, Clinics, Ambulatory Surgical Centers, Other End-Users
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How Is The Competitive Landscape Of The Global Erectile Dysfunction Devices Market?
Major companies operating in the erectile dysfunction devices market are Boston Scientific Corporation, Medline Industries LP, Coloplast Corporation, Hollister Incorporated, MTS Medical AG, Alma Lasers Ltd., Owen Mumford Ltd., Shenzhen Huikang Medical Apparatus Co. Ltd., Storz Medical AG, UroMatrix Medical Systems, Medispec Ltd., Zephyr Surgical Implants, Timm Medical Technologies Inc., Promedon GmbH, Zimmer MedizinSysteme GmbH, Mercury Healthcare Pvt. Ltd., Rigicon Inc., NOVAmedtek, Tyna International Ltd., Vacurect, The Elator, Pos-T-Vac Medical Inc., Silimed Indústria de Implantes
Contents Of The Global Erectile Dysfunction Devices Market
1. Executive Summary
2. Erectile Dysfunction Devices Market Report Structure
3. Erectile Dysfunction Devices Market Trends And Strategies
4. Erectile Dysfunction Devices Market - Macro Economic Scenario
5. Erectile Dysfunction Devices Market Size And Growth
…..
27. Erectile Dysfunction Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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