Overview of the penile implants market

Technavio’s market research analysts have predicted the global penile implants market to grow slowly at a CAGR of more than 1% during the forecast period. The increasing incidence of prostate cancer worldwide is one of the key factors driving the growth of this market. The treatment for prostate cancer often requires the removal of the prostate gland which can result in impaired sexual function in at least half of the men who undergo this treatment. Although prostate cancer does not directly cause erectile dysfunction (ED), however, the treatment methods such as surgery with radical prostatectomy, hormone therapy, and radiation therapy can lead to ED. As penile implants help men with ED, the increase in the number of prostate cancer cases will spur the growth prospects of this market in the coming years.

Penile implants market driver

In this industry research report, the analysts have estimated factors such as the emergence of disruptive alternative ED treatment technologies to aid in the growth of this market during the predicted period. Several new technologies are being developed to treat ED 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 ED. Moreover, most research-based studies have shown positive results with this therapy like improved endothelium, muscle, and nerve in the erectile tissue, thereby fueling this market’s growth until the end of 2020.

Penile implants market segmentation by application 

• Inflatable penile implant
• Semi-rigid/malleable rod penile implant

The global penile implants market was dominated by the inflatable penile implant segment as it accounted for a market share of more than 64% during 2015.  The risk of internal damage of the penis caused by constant internal pressure is much lower with inflatable penile implants compared to semi-rigid implants. Moreover, compared to semi-rigid implants, inflatable penile implants provide greater satisfaction to the user, thereby driving this market segment’s growth in the next four years.

Penile implants market based on geography

• Americas
• APAC
• EMEA

In terms of revenue, the Americas was the largest market for penile implants and accounted for over 43% of the market share during 2015. The market is driven by the increased incidence of ED due to health issues like neurological disorders, prostate cancer, and diabetes. Moreover, the Americas has major pharmaceutical companies such as Coloplast and American Medical Systems offers a broad range of penile implant solutions which will further the growth prospects in the region.

Penile implants market: Competitive landscape and key vendors

The global penile implants market has few vendors that together hold the majority of the market share. There are a few players that offer penile implants in their domestic markets, for example, in India, Shah's Penile Implant is a major player providing a broad range of penile implant products across the country. The vendors in the market compete on the basis of product price, availability, brands, and variety.

Key vendors in the penile implants market

• American Medical Systems
• Coloplast
• Promedon
• ZEPHYR Surgical Implants

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global penile implants market?
• What are the key market trends impacting the growth of the global penile implants market?
• What are the challenges to market growth?
• Who are the key vendors in the global penile implants market?
• What are the market opportunities and threats faced by the vendors in the global penile implants market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global penile implants market?

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