Press release
Global Prosthesis Market to Reach $2.16 Billion by 2029, Growing at 9.61% CAGR
Pediatric Medical Devices
The rising incidents of erectile dysfunction (ED) are expected to drive the prostheses market. ED, characterized by the inability to achieve or maintain an erection*, is becoming more common due to aging, lifestyle factors, and chronic diseases like diabetes. prostheses offer a long-term solution to ED, improving sexual function and quality of life. In 2022, the National Library of Medicine reported that about 10.3 million men in the U.S. were diagnosed with ED, and 1.7 million were potential candidates for prosthesis implantation. Therefore, the growing incidence of ED is driving the prostheses market.
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What is the projected compound annual growth rate (CAGR) of th prosthesis market from 2025 to 2034, and what factors influence it?
The prosthesis market has grown steadily, projected to rise from $1.36 billion in 2024 to $1.49 billion in 2025, reflecting a CAGR of 10.0%. This market's growth can be attributed to increased tobacco and alcohol consumption, a rise in spinal cord injuries, a growing prevalence of erectile dysfunction, increased access to healthcare, and heightened social insurance awareness.
The prosthesis market is anticipated to grow steadily, reaching $2.16 billion by 2029 with a CAGR of 9.6%. Growth is attributed to patient-centric strategies, rising chronic disease rates, growing awareness of implants, and acceptance of advanced medical treatments. Trends include technological advancements, expanding healthcare infrastructure, regulatory approvals, and reimbursement policies.
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How are the latest trends influencing the growth of the prosthesis market?
Major companies in the prostheses market are developing innovative products such as prosthesis pumps to improve ease of use, reliability, and patient satisfaction. For instance, in November 2023, Boston Scientific Corporation, a US-based medical device company, received FDA approval for the new TENACIO Pump component for its AMS 700 inflatable prosthesis. The pump enhances user interaction by addressing common issues like valve system sticking and improving the overall user experience.
What are the major segments of the prosthesis market and their role in driving growth?
The prosthesis market covered in this report is segmented -
1) By Implant Type: Inflatable Implant, Malleable Implant
2) By Material: Silicone, Bioflex, Other Materials
3) By End User: Hospitals, Ambulatory Surgery Centers, Urology Centers, Other End User
Subsegments:
1) By Inflatable Implant: Two-Piece Inflatable Implant, Three-Piece Inflatable Implant
2) By Malleable Implant: Semi-Rigid Malleable Implant, Fully Rigid Malleable Implant
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Which regions are key players in the growth of the prosthesis market?
North America was the largest region in theprosthesis market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in th prosthesis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the prosthesis market?
Major companies operating in the prosthesis market are Giant Medical., Boston Scientific Corporation, Olympus Corporation, Coloplast A/S, Mentor Corporation, Silimed, American Medical Systems Inc, Promedon S.A., Zephyr Surgical Implants, G Surgiwear Limited, SofMedica, Rigicon Inc, Giant Medical Corporation, Advin Health Care, Penuma Implant, Rigicon, eska medi?cal, Titan Medical, Eska Jonas Prosthesis, Ams Urology
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What Is Covered In The Prosthesis Global Market Report?
•Market Size Forecast: Examine the prosthesis market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the prosthesis market for a structured understanding.
•Key Players Overview: Analyze major players in the prosthesis market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the prosthesis market.
•Segment Contributions: Evaluate how different segments drive overall growth in the prosthesis market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the prosthesis market.
•Industry Challenges: Identify potential risks and obstacles affecting the prosthesis market.
•Competitive Landscape: Review strategic developments in the prosthesis market, including expansions, agreements, and new product launches.
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