SEATTLE, March 18, 2021, (MEDGADGET) —
Erectile Dysfunction Devices Market – Insights
Erectile dysfunction (ED), also known as impotence, is a medical condition in men that is characterized by the inability to get an erection during sexual intercourse. The condition affects 5%–10% of men under 40 years of age and is less evident in younger age group. According to a study published in the Journal of Sexual Medicine, one in four patients who sought medical help for erectile dysfunction are under the age of 40 years. The condition is more prevalent in men undergoing cardiovascular or diabetes treatment and is strongly related to physical and psychological health.
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There are several options for the treatment of ED that include, ED drugs (Sildenafil, Tadalafil, Vardenafil, Avanafil, Alprostadil, and Udenafil), injectable, penile implants, surgery, and vacuum constriction devices. A major factor hindering growth of the market is lack of awareness of the condition and low number of people opting for treatment mainly due to social stigma attached to it. For instance, according to the study conducted by the European Association of Urology, only 25% of the men estimated to be suffering from the condition seek medical treatment.
Some of the major bands available in the market are Erektor, Viberect, SomaTherapy-ED, Encore, Bonro Medical, and Vacurect. Vacuum pump, also known as Vacuum Erection device (VED), does not need medication or surgery and is reimbursed in the U.S. According to the National Health Services, nine out of ten men using vacuum pumps are able to have sex regardless of the underlying cause of ED. Penile implants are medicated devices, which further requires research on its efficacy and safety.
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Erectile Dysfunction Devices Market – Taxonomy
On the basis of type of device, the global erectile dysfunction devices market can be segmented into: vacuum pumps
- Penile implants (internal penile pump/inflated pump)
- ED rings
- Medicated urethral system (MUSE)
On the basis of region, the global erectile dysfunction devices market can be segmented into:
- North America
- Latin America
- Asia Pacific
- Middle East
High incidence of ED, increasing awareness about the treatment of the condition, and growing disposable income in emerging economies is boosting growth of the erectile dysfunction devices market.
Erectile Dysfunction Devices Market – Restraints
High adoption of over-the-counter drugs such as Viagra is expected to hinder growth of the erectile dysfunction devices market. Moreover, lack of awareness about proper usage of these devices and pain associated with use is also hampering the market growth. Availability of alternative therapies such as low-intensity extracorporeal shockwave therapy and herbal medicines also restricts growth of the market. Various device types and their advantages are also still not known to healthcare professionals, which limits adoption of these devices.
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Erectile Dysfunction Devices Market – Key Players
Key players operating in the global erectile dysfunction devices market include, Meda Pharmaceuticals, Inc., Coloplast, Global Life Technologies, Reflexonic, LLC, Augusta Medical Systems, and Boston Scientific Corporation.
- Key players in the erectile dysfunction devices market are focused on product development and launches in order to expand their consumer base in untapped markets. For instance, in July 2019, Boston Scientific announced the launch of the Tactra penile implant, which is a durable implant with a natural feel for treating ED.
- Similarly, in August 2019, Ohio, U.S. based Integrated Medical announced that they are offering a state-of-the-art Extra Corporeal Shock Wave Therapy (ESWT) for treating ED. The therapy will utilize power generated through acoustic sound waves and radial shockwaves to stimulate neovascularization.
- Product approvals by regulatory authorities is also expected to drive growth of the market over the forecast period. For instance, in March 2019, South Korea’s Ministry of Food and Drug Safety approved the country’s first extracorporeal shock wave equipment, HNT Medical’s Carewave which is developed by Medytox Korea.
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