Erectile Dysfunction Drugs Market 2021
The global market for erectile dysfunction drugs market is set to cross a valuation of USD 2930million by 2023 with a CAGR of 3.5% during the forecast period (2018-2023). Market Research Future revealed several factors like a rising recording of cases of erectile disorder, increasing geriatric population, expiry of patents of major blockbuster drugs, and better drug development as major reasons behind the growth of the erectile dysfunction drugs market. Growth in the sedentary lifestyle may also boost the demand for such drugs.
However, patients often fail to adhere to these drugs in proper terms, which can restrain the growth of this erectile dysfunction drug market growth.
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Major Key Players:
Pfizer Inc. (U.S), Bayer AG (Germany), Eli Lily & Co. (U.S), Dong–A Pharmaceutical Co. Ltd. (South Korea), Apricus Biosciences Inc.(U.S), S.K. Chemicals Co. Ltd. (South Korea), Apricus Biosciences Inc. (U.S), Cristalia Produtos Quimicos Farmaceuticos Ltd. (Brazil), Dong-A Pharmaceutical Co. Ltd., (South Korea), Meda Pharmaceuticals, Inc. (U.S), Vivus, Inc. (U.S), and others are some of the prominent players at the forefront of competition in the global Erectile Dysfunction Drugs Market Size and are profiled in MRFR Analysis.
Segmentation:
The global erectile dysfunction drugs market, on account of MRFR experts, has been segmented based on drugs and end users. This segmentation is expected to reveal insight related to dynamics, growth factors, and demographic challenges. These insights will be further backed by figures received after detailed analysis.
By drug, the global market on the erectile dysfunction drugs has been segmented into Cialis (tadalafil), staxyn/Levitra (vardenafil), viagra (sildenafil citrate), zydena (udenafil), vitaros (alprostadil cream), stendra/spedra (avanafil), and others. Viagra has a huge market share as it is the first-of-its-kind drug that received the approval of the FDA in 1998. Cialis is expected to make a better impact on the market in terms of growth as its erection period is higher than that of Viagra.
By end user, the global market for erectile dysfunction drugs has been segmented into retail pharmacy, hospital pharmacy, and online pharmacy. The retail pharmacy segment is expected to benefit from the easy availability of drugs. The segment is the largest one. Hospitals are expected to gain more from growing awareness and are expected to be the fastest one in terms of growth.
Regional Analysis:
Geographically, the regional Erectile Dysfunction Drugs Market Share is segmented into America, Europe, Asia Pacific, and the Middle East & Africa.
The Americas account for the major share of the market owing to the presence of patient population, well-developed technology, and high healthcare expenditure. According to University of Wisconsin Hospitals and Clinics Authority, about 5 percent of men that are 40 years old have complete erectile dysfunction, and that number increases to about 15 percent of men at age 70. Mild and moderate erectile dysfunction affects approximately 10 percent of men per decade of life.
Europe holds the major share of the market, which is majorly contributed by Germany, the U.K., and France. According to the UK Health Centre, 50 percent of men that smoke a pack of cigarettes a day have a higher chance of developing erectile dysfunction. Furthermore, as per a study recently presented at the European Association of Urology showed that erectile dysfunction isn’t being treated very often, with only 25.4 percent of men in the being treated for the condition.
Asia Pacific is the fastest growing market owing to rapidly changing healthcare sector, and the presence of huge opportunities for the development of this market. However, the Middle East & Africa has the least share in the market owing to the presence of poor and slow developing countries, especially, in African region. The Middle East holds the major share of the regional market due to well-developed technology and high spending.
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