Market Research Future adds the “Erectile Dysfunction Drugs Market Research Report - Forecast to 2025” report to their unique collection.
Erectile Dysfunction Drugs Market Overview
According to Market Research Future (MRFR), the global erectile dysfunction drugs market is expected to reach a market value of USD 2930 million with a CAGR of 3.5% from 2019 to 2025 (forecast period). The report introspects the opportunities, challenges, cost structure, and recent developments pertaining to the erectile dysfunction drugs market in the report and the impact of the COVID-19 on these facets.
Also Read : https://www.medgadget.com/2020/07/erectile-dysfunction-drugs-market-worth-usd-2930-million-at-a-cagr-of-3-5-by-2025-covid-19-impact-analysis-industry-growth-size-share-swot-analysis-top-company-profile.html
Erectile dysfunction is also referred to as impotence and is characterized by an inability to build up or maintain a penile erection during sexual intercourse. Penis erection involves a hydraulic effect resulting from the entry and retention of blood into spongy bodies within the penis. Sexual arousal is responsible for the initiation of this process, indicated by the brain-to-penile nerve impulse mechanism. The causes of erectile dysfunction include adverse effects of medications, cavernosal disorders, neurogenic disorders, aging, psychological factors, multiple sclerosis and diabetes, and lifestyle changes.
Erectile Dysfunction Drugs Market Dynamics
The global market for erectile dysfunction drugs is influenced by factors such as a rising number of people suffering from this condition, a growing geriatric population, and patent expiry of the number of blockbuster drugs. In addition, an increase in the production of generic drugs combined with an increase in sedentary lifestyles and related tension is expected to drive demand growth. For example, as per the Massachusetts Male Aging Study (MMAS), the worldwide incidence of erectile dysfunction will rise from 152 million men in 1995 to 322 million in 2025. On the other hand, low patient adherence to erectile dysfunction medications is expected to impede market growth during the assessment period.
Erectile Dysfunction Drugs Market Segmentation
The global market for erectile dysfunction drugs has been segmented based on drug and end-user.
Based on drug, the global erectile dysfunction drugs market has been bifurcated into viagra (sildenafil citrate), cialis (tadalafil), stendra/spedra (avanafil), staxyn/levitra (vardenafil), vitaros (alprostadil cream), zydena (udenafil), and others. The viagra segment is expected to hold a significant market share as the first approved oral treatment for erectile dysfunction approved by the Food and Drug Administration (FDA). In 1998, Pfizer launched viagra, which dominates the market for erectile dysfunction. The Cialis segment is projected to be the fastest-growing segment because cialis offers erection for a longer period of time than viagra, cialis lasts up to 18 hours, while viagra lasts just around 4 to 6 hours.
Based on end-user, the global market for erectile dysfunction drugs has been segmented into hospital pharmacy, retail pharmacy, and online pharmacy. The retail pharmacy segment is projected to be the largest market because it is readily available in retail stores. The hospital pharmacy segment is projected to be the fastest-growing segment as an increasing patient pool due to increased awareness and patient education.
Erectile Dysfunction Drugs Market Regional Analysis
By region, the global market for erectile dysfunction drugs has been divided into the Americas, Europe, Asia Pacific, and the Middle East & Africa.
The Americas’ market is projected to dominate the global market for erectile dysfunction drugs due to the growing prevalence of erectile dysfunction and rising awareness and patient education in the area. High rates of erectile dysfunction are expected to fuel market development in the US and Canada. For example, according to the study, the average prevalence of erectile dysfunction in men over 20 years of age was 18.4%, suggesting that erectile dysfunction affects 18 million people in the US. In addition, growing expenditure on research by healthcare providers engaged in research into novel drugs is expected to push the growth of the market in this area.
The market in Europe has shown a significant amount of growth. It can be due to the growing adoption of a sedentary lifestyle and related stress in the European region.
The market in the Asia Pacific is expected to have the highest growth rate during the forecast period due to the growing geriatric population and the rising availability of generic drugs. For instance, as per the United Nations Population Fund, by 2050, 1 in 4 citizens in Asia and the Pacific would be over 60 years of age. The population of older people (over 60 years of age) in the country will increase between 2010 and 2050, reaching close to 1.3 billion. The incidence of erectile dysfunction raises with the rising age, so the Asia Pacific market will expand rapidly in the forecast period.
The market in the Middle East and Africa is expected to represent the least share of the global market due to a low level of awareness and patient education in the region.
Erectile Dysfunction Drugs Market Key Players
The leading participants in the global erectile dysfunction drugs market are Pfizer, Inc., Apricus Biosciences Inc., Bayer AG, Cristalia Produtos Quimicos Farmaceuticos Ltd., Dong-A Pharmaceutical Co. Ltd., Eli Lilly and Company, Meda Pharmaceuticals, Inc., S.K. Chemicals Co. Ltd., Vivus, Inc., Teva Pharmaceutical Industries Ltd. Major companies on the market are engaged in strategic acquisitions, collaborations, mergers, and new product launch to maintain their market position.
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