The Canada — Erectile Dysfunction Treatment Market was valued at US$ 292.3 Mn in 2018 and is expected to reach US$ 430.5 Mn by the year 2026, growing at a significant CAGR during the forecast period.
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Erectile Dysfunction (ED), which is also referred to as impotence, is when a patient has problems in achieving and sustaining an erection. According to the Canadian Society of Erectile Dysfunction, in 2015, approximately 49.4% men over 40 years of age in Canada suffered from erectile dysfunction. Some studies suggest that 5%-20% of men have moderate to severe ED. The currently available Erectile Dysfunction Treatment are oral therapies, commonly PDE-5 inhibitors (sildenafil, tadalafil, avanafil, and vardenafil), and penile implants, vacuum constriction devices, and shockwave therapy.
The rising prevalence of erectile dysfunction is one of the key factors which is driving the Erectile Dysfunction Treatment Market. While aging is one of the key risk factors for erectile dysfunction, lifestyle choices such as smoking, obesity, chronic alcohol consumption/substance abuse, and a sedentary lifestyle can also contribute to erectile dysfunction. The social stigma associated with erectile dysfunction may impede the growth of the Erectile Dysfunction Treatment Market during the forecast period. However, the growing investment in Erectile Dysfunction Treatment is expected to propel the market demand during the forecast period.
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Among these, the market share of drugs was 91.9% in the year 2018 and the devices segment accounted for the rest of the share. Drugs are the first-line of treatment and therefore, they accounted for the highest share. The second-line of treatment, which is devices, includes injection therapy and urethral therapy. Based on end-user, the market has been segmented into hospitals, specialty clinics, and others. The specialty clinics segment accounted for the largest market share in 2018, followed by others and hospitals.
The key players in the Erectile Dysfunction Treatment Market are Coloplast Group, Boston Scientific Corporation, Zephyr Surgical Implants SARL, Medispec, KARL STORZ SE & Co. KG, Augusta Medical Systems LLC, and others. Various strategies such as new product development, partnerships, mergers and acquisitions are being adopted by major players in the market to expand their product portfolio and gain market share. For instance, in 2017, Boston Scientific Corporation, a U.S.-based manufacturer of medical devices, supported the Wisconsin and Illinois researchers in building ‘bionic penis’ made up of nickel-titanium alloy, for Erectile Dysfunction Treatment.
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Release ID: 526114