Analysts forecast global penile implants market to grow at a CAGR of 1.58% during the period 2016-2020 are missing the mark!
This estimate grossly underestimates the true potential for growth in the penile implant industry. With 20 to 30 million men in the US suffering from different degrees of erectile dysfunction, patient awareness of treatment options remains one of the only obstacles to patient utilization of the only definitive treatment for this debilitating malaise: the penile implant. In the aforementioned piece, growth in sales was also erroneously attributed to big pharma investment in ED related therapies. Organic growth is directly proportional to device company’s investment in educating a new generation of major implantors resulting in centers of excellence. What was once seen as a niche industry is evolving into a staple for Men’s Health. Bright young minds are taking interest in the skills required to implant patients. A penile implant may be one of the urologic procedures with the most nuance. Kudos to industry in their approach to helping men while at the same time as growing their coffers.