Penile Implants Market Size, Share & Trends Analysis Report By Type (Inflatable, Non-inflatable), By End-use (Hospital, Ambulatory Surgery Centers), By Region (North America, Europe, APAC, Latin America, MEA), And Segment Forecasts, 2020 - 2027

Report Overview

The global penile implants market size was valued at 452.2 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.5% from 2020 to 2027. Increasing incidence of Erectile Dysfunction (ED) disorder as a symptom of associated comorbidities such as diabetes, renal disease, liver disorder, vascular conditions, and atherosclerosis, is a key factor driving the market for a penile implant. 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. Technological advancements, increasing adoption of Minimally Invasive Surgeries (MIS), and high disposable income are some of the factors responsible for market growth.

Penile prostheses, also known as penile implants (both inflatable and non-inflatable) are standard care in the management of ED. There has been a significant increase in the demand for surgical treatment of ED with the penile implant as such procedures are less traumatic and facilitate faster recovery. Moreover, surgeries performed in ambulatory surgical centers are gaining traction attributed to factors like patient satisfaction and cost-effectiveness.

Type Insights

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. Decreased malfunction rates, lower rates of associated infections, and high rates of patient satisfaction are key factors boosting segment growth.

In regions like Europe and the Asia Pacific, malleable devices are often used due to cost and reliability issues. But the demand for inflatable devices is increasing rapidly attributed to durability and prone to any infections. The manufactures are developing inflatable penile implants which are cost-effective, more durable, and flexible components. The remote-controlled and heat-activated penile implants are some innovations being developed by the companies.

End-use Insights

The hospital dominated the end-use segment with the highest market share of around 55.0% in 2019. With the majority of inflatable penile prosthesis procedures conducted in inpatient or outpatient facilities of the hospital, the hospital segment dominates the penile implant market.

With the shifting patient trends towards day surgery and ambulatory surgery center, many of the penile procedures are being carried out in the ASC setting and other urology centers and thus the ASC segment is expected to witness high growth over the forecast period.

Regional Insights

North America dominated the market for penile implants and accounted for a revenue share of more than 67.0% in 2019. Presence of sophisticated healthcare facilities, growing demand for surgical treatment options for extended sex life, availability of highly advanced equipment & skilled urologists in the region, rise in the preference for outpatient settings for MIS procedures, and supportive reimbursement framework for medical treatments are among the factors driving the growth of the market in the region.

In Europe, the market is anticipated to grow significantly over the forecast period. High incidence of various urological disorders and rising prevalence of chronic diseases due to unhealthy lifestyles are among the major factors driving the market in the region. The Asia Pacific penile market is expected to grow at with the highest CAGR attributed to growing awareness towards penile procedures and a large population suffering from ED, and availability of advanced tools and equipment in many countries to carry out the procedures on an outpatient basis.

Key Companies & Market Share Insights

The market for penile implants is highly competitive in nature due to the presence of multiple players in the market. Players like Coloplast, Boston Scientific, Rigicon Inc., Zephyr Surgical Implants (ZSI) are among the major players operating in the market for a penile implant. Boston Scientific’s AMS 700 and Rigicon’s Infla10 are the most common inflatable three-piece implants used for the surgery. Technological advancements, new product launches and strategic partnerships for geographical expansions are the key strategies followed by key market players. The companies are focused on the development of technologically advanced products with greater efficiency & improved design. Some of the prominent players operating in the penile implants market include:

• Zephyr Surgical Implants

• Boston Scientific Corporation

• Coloplast

• Promedon

• Rigicon Inc.

Penile Implants Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at regional levels and provides an analysis of the industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global penile implants market report based on type, end-use, and region:

• Type Outlook (Revenue, USD Million, 2016 - 2027)

  • Inflatable penile implant

  • Non-inflatable/malleable penile implant

• End-use Outlook (Revenue, USD Million, 2016 - 2027)

  • Hospital

  • Ambulatory Surgery Center (ASC)

  • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • The U.S.

    • Canada

  • Europe

    • The U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa