Overview Of The Penile Implants Market
As per the report published by Veracious Statistics Research, the global Penile Implants Market is expected to grow from USD 430.71 Million in 2019 to USD ??.?? Million by 2027, at a CAGR of 5 % during the forecast period 2020-2027. Heart disease, blockages in blood vessels, diabetes, high cholesterol, obesity, spinal cord injuries, Peyronie's disease, excessive tobacco & alcohol consumption, are some of the cause for erectile dysfunction. According to the British Association of Urological Surgeons Limited, an estimated 10.09% of men in the U.K suffer from erectile dysfunction each year. In addition, changes in lifestyle, high prevalence of tobacco smoking, and increasing patient awareness towards available options such as penile prosthesis and implants are other factors boosting the market for a penile implant. Growing incidences of Erectile Dysfunction, growing awareness about penile diseases, and advancements in treatment procedures are expected to propel the market in the coming years.
The report contains a creative and effective approach to aiding the detailed analysis of the subject matter. The top-down and bottom-up approaches have been used to prove the authenticity of the research. Various primary and secondary resources have been explored and reviewed to find business data helpful in market research and insight-finding. To ensure high accuracy, multi-layer verification has been used.
The market outlook for 2019 to 2027 was taken as the basis for this market study and hence it encompasses the historical viewpoints, also detailed analysis of micro-and macroeconomic factors affecting the penile implants market on a global scale. This report makes you familiar with various aspects such as drivers of growth, industry trends, threats, and growth opportunities which will help you in the market assessment. Also, the table of content in the report is helpful when navigating to different sections of the report.
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at Veracious Statistics Research helps you break down the complex scenario and bring resiliency in uncertain times.
Penile Implants Market Driver
In this industry research report, the analysts have estimated factors such as the emergence of disruptive alternative Erectile Dysfunction treatment technologies to aid in the growth of this market during the predicted period. Several new technologies are being developed to treat Erectile Dysfunction including external penile support devices, low-intensity extracorporeal shockwave, penile vibrators, nanotechnology, tissue engineering, and endovascular technology. These technologies are expected to revolutionize the treatment method for Erectile Dysfunction. Moreover, most research-based studies have shown positive results with this therapy like improved endothelium, muscle, and nerve in the erectile tissue, thereby fuelling this market’s growth until the end of 2020.
Penile Implants Market Based On Geography
On the basis of geography, the global penile implants market has been classified into North America, Europe, South America, Asia Pacific, and the Middle East and Africa. The North America region accounted for the major market share of 70.32% in the year 2019. The large share of this segment is attributed to key factors such as increasing demand for penile implant surgeries, the existence of advanced healthcare facilities, availability of advanced equipment, availability of highly skilled urologists, growing preference for outpatient settings, and favorable reimbursement framework for medical operations.
Global Penile Implants Market Trends By 2019 to 2027 (Trends, Market Size, Surgery Demand)
On the other hand, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. This growth is owing to factors like rising awareness towards penile surgeries, a large population suffering from erectile dysfunction, and the availability of specialized instruments and facilities to conduct the procedures on an ambulatory basis in many countries. The European market is expected to grow significantly during the forecasted period. The increasing amount of various urological disorders and the increasing incidence of diseases due to an unhealthy diet or lifestyle are some of the major factors driving growth in the region.
Key Vendors In The Penile Implants Market
Various notable players operating in the market, include American Medical Systems, Coloplast, Promedon, ZEPHYR Surgical Implants, Giant Medical among others. Major players including Coloplast and American Medical Systems are focusing on R&D activities and product launches to hold their leadership in this market.
Key Suggestions From The Report:
The inflatable type segment held the largest market share in 2019 and is expected to witness a high growth rate during the forecast period. Improved design, more durability, less rate of infections, and more customer satisfaction are the factors likely to boost segment growth
In the U.S., the three piece-penile implants segment accounted for the largest market share attributed to the high success rate and lesser post-surgical complications
Hospital dominated the end-use segment because the majority of these procedures are still being carried out in hospital-based inpatient and outpatient facilities
Among the end-use segments, the ASCs are expected to witness a high growth rate during the forecast period. The increasing adoption of technologically advanced products in the ASCs has changed the way surgeons operate in these facilities. The inclusion of minimally invasive penile procedures under ambulatory surgery is driving segment growth
Acquisition, partnership, and technological advancements are the key strategies followed by the market's big key player.
North America: Canada and USA
Latin America: Argentina, Brazil, Chile and Mexico
West Europe: Belgium, France, Germany, Italy, Netherlands, Spain and the UK
East Europe: Hungary, Poland, Russia and Ukraine
Africa and Middle East: Algeria, Egypt, Israel, Kenya, Nigeria, Saudi Arabia, South Africa, Turkey and UAE
Asia Pacific: Australia, Japan, South Korea, China and Taiwan
South East Asia: India, Indonesia, Malaysia, Pakistan, Philippines, Thailand and Vietnam
What was the value of the Global Market in 2019?
The Global Penile Implants Market valuation was USD 430.71 Million in 2019, and it is anticipated to be greater than USD xx.xx billion by 2027
At what CAGR the Market projected to grow in the forecast period (2020-2027)?
Global Penile Implants Market Size is estimated to expand rapidly in coming years, at a CAGR of 5 % from 2018 to 2027 (2020-2027)
Which is the leading type segment in the Global Market?
The Global Penile Implants Market is segmented into non-inflatable penile implants, two-piece inflatable penile implants, and three-piece inflatable penile implants. The inflatable penile implant segment held almost 60.0% of revenue share in 2019 and is expected to grow at a lucrative rate during the forecast period.
Who are the top players in Global Marketplace?
American Medical Systems, Coloplast, Promedon, ZEPHYR Surgical Implants, Giant Medical among others
Which region is expected to hold the highest market share in the Market?
North America is expected to hold the highest market share in the global market.
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