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Erectile Dysfunction Shockwave Therapy Market Projected to Witness Vigorous Expansion by 2024

Erectile dysfunction shockwave therapy is a non-invasive therapeutic technique used for the treatment of erectile dysfunction. The therapy uses energy from lower intensity acoustic pulse waves to trigger neovascularization process, which involves the formation of new blood vessels. Erectile dysfunction shockwave therapy is aimed toward improving blood flow to the penis, thereby helping to get and sustain an erection. Erectile dysfunction shockwave therapy offers several advantages as compared to conventional treatment methods, and this technique is becoming increasingly popular among urologists owing to the high chances of cure, minimum procedural time, and non-invasive nature associated with it.

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The global erectile dysfunction shockwave therapy market is driven by high prevalence and rise in incidence rate of erectile dysfunction across the globe. According to an independent survey, it is estimated that around 30 million men in the U.S. are affected by erectile dysfunction. Various advantages associated with the shockwave therapy, such as, non-invasive technique, reduced pain, shorter procedural time, improved outcomes, etc. are projected to drive the demand for the therapy during the forecast period. Erectile dysfunction mainly affects elderly men. Rapidly growing elderly population in developed countries, such as, the U.S., Canada, Japan, Germany, the U.K., and France is projected to fuel the expansion of the global erectile dysfunction shockwave therapy market during the forecast period. New product development and commercialization in developed and emerging markets represent potential business opportunities for the leading players operating in the market. However, availability of alternative treatment methods, such as, penile prosthesis and therapeutic drug treatment, is likely to restrain the growth of the erectile dysfunction shockwave therapy market during the forecast period.

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The global erectile dysfunction shockwave therapy market can be segmented broadly into three categories based on ergonomics, end-user, and geography. In terms of ergonomics, the global erectile dysfunction shockwave therapy market can be divided into portable shockwave therapy devices and tabletop shockwave therapy devices. The portable shockwave therapy devices segment is projected to hold the dominant market share by the end of 2026. Majority of the erectile dysfunction shockwave therapy devices are available in portable mode and are easy to carry and operate. The new portable devices in pipeline studies and approval phases are projected to drive the expansion of the segment during the forecast period. In terms of end-user, the global erectile dysfunction shockwave therapy market can be classified into hospitals, ambulatory surgery centers, and urology specialty clinics. The ambulatory surgical center segment is projected to dominate the global market owing to shorter procedural time for the treatment of erectile dysfunction and low cost of treatment at these centers. The specialty clinics segment is expected to witness a significant growth during the forecast period.

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Geographically, the global erectile dysfunction shockwave therapy market can be broadly segmented into North America, Europe, Asia Pacific, and Rest of World. Europe is projected to hold the leading share of the global market owing to availability of large number of medical devices and equipment in the region, high prevalence and rise in incidence rate of erectile dysfunction, and well-established health care facilities. The erectile dysfunction shockwave therapy market in North America is projected to grow at a significant CAGR during the forecast period owing to anticipated approval of the pipeline products by the U.S. FDA and early adoption of technological advanced products in the region. The erectile dysfunction shockwave therapy market in Asia Pacific is poised to grow at a moderate rate during the forecast period.

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The global erectile dysfunction shockwave therapy market is highly consolidated with only a few manufactures holding the key share. Key players operating in the global erectile dysfunction shockwave therapy devices market include STORZ MEDICAL AG, Medispec LTD, DirexGroup, Inceler Medikal Co. Ltd., Shenzhen Huikang Medical Apparatus Co., Ltd. and NOVAMEDTEK.

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