No, because the materials with which the prostheses are made are soft and elastic. They do not generate (under normal conditions) compression of nerve structures and therefore should not be a cause of chronic pain in the penis. Many men with penile prostheses even say they "forget" they are wearing them.
However, some men may experience some discomfort or pain during the first few weeks after penile implantation surgery. This can often be controlled with pain relievers and non-steroidal anti-inflammatory drugs (NSAIDs).
Among the complications most reported by penile prosthesis implantation surgeries are infections and pain but they are rare, fortunately. According to statistics, 6% of patients develop some type of mild or moderate infection and 2% of pain due to breakage of the prosthesis.
In most cases, patients express satisfaction with the prosthesis and consider that their sexual performance has significantly improved. Complications take a backseat and are considered little noticeable, although if they do arise, they should receive emergency medical attention.