Is this type of vegetable peeler effective?
The difference between that and what you already have is really just the position of the blade with respect to the handle. With that, you pull along the direction of the handle to peel, while with your current one, you push perpendicular to the handle. (Assuming I understood your description of your current peeler right, anyway.) Which of the two you prefer may be mostly personal preference, though I find that the angle you end up holding your hands at is nicer when you're pushing perpendicular.

You haven't said why you hate your current one, but I'm guessing it's because it's dull, and possibly uncomfortable to grip the handle in order to exert the force you need. (Note that it takes more force when it's dull.)

So your problem may well be solved simply by getting a new, sharper peeler, preferably one with a handle you find comfortable to hold. I'd suggest going to a physical store and actually holding them to get an idea of what you like.

Ceramic vs metal blades is a factor too, of course - ceramic holds the edge better. But I'd worry first about getting something comfortable to use. Better to have something comfortable to hold that has to be replaced a little more often than a nice sharp ceramic blade attached to a handle you hate.