The Global Erectile Dysfunction Market was valued at US$ 4,129.5 million in 2015 and is projected to expand at a CAGR of 0.2% during the forecast period (2016–2024), as highlighted in a new report published by Coherent Market Insights. Growing prevalence of sexual disease and increasing geriatric population are major factor expected to drive growth of the global erectile dysfunction market.
Erectile dysfunction was earlier believed to be a condition mainly prevalent among elderly men. However, a recent study conducted by medical institution across the globe, explains that the erectile dysfunction also affects younger men, due to sex hormone imbalance at the early stage of their puberty. There are many medications available to treat erectile dysfunction that are especially effective among young men, as they are can easily absorb the drugs content and show quick effects when compared to men aged above 60 years. Erectile dysfunction may involve several different medical conditions of reproductive health and sexual dysfunction. Attaining an erection is a one of the multipart process which involves the brain, sex hormones, nerves, muscles, and blood circulation and any deviation or interference from the normal erection process may lead to erectile dysfunction. In some cases at older age of 55-60 years, ED shows a multiple health problem such as cardiovascular problems, which necessitates immediate treatment, as this may also cause a risk factors for heart attacks and strokes.
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Globally around 5% of male who are aged 40 years have a strong or complete erectile dysfunction, and this increases to around 15% of males aged 70 years. Nearly 10% of men in the age group of 50–70 years suffer mild or moderate erectile dysfunction in their life. According to Medical Journal of Sexual Medicine, erectile dysfunction can occur at any age, though it is more prominent among men aged above 60 years. People over 60 years suffer from large number of health conditions when compared to young people and with the weak immune system, any hindrance in hormonal process may need medication, further leads to sexual inability. Moreover, as men age, the erectile stimulation and sexual ability becomes weak. Medication such as Cialis and Viagra are highly prescribed drugs in the erectile dysfunction market.
Increasing prevalence of male sexual dysfunction in the highly populous Asia region is a major factor driving growth of the erectile dysfunction market. For instance, in 2011, the prevalence percentage of erectile dysfunction in China was 45%, South Korea 32.3%, Malaysia 26.8%, Thailand 37.5%, and Singapore 51.5%. According to UK Health Center, 1 in 10 men worldwide suffer from erectile dysfunction and more than half of all diabetic men suffer from erectile dysfunction. Over 20 million people globally are prescribed Viagra to treat erectile dysfunction, and out of this 66% of people who are administered or prescribed Viagra, are able to have sexual intercourse. Around 48% of this group suffer from one or more side-effects from Viagra.
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Key takeaways of the erectile dysfunction market:
- The global erectile dysfunction market is expected to expand at a CAGR of 0.2% during the forecast period (2016–2024) as there still exists a major unrealized market, especially in Africa and Middle East countries.
- The Cialis product dominates the erectile dysfunction market in by product segment as it is the primary drug prescribed by many physicians globally because of high therapeutic efficacy and lower price
- Some of the major players involved in global erectile dysfunction market are Meda Pharmaceuticals, Inc, Coloplast, Global Life Technologies, Reflexonic, LLC, Augusta Medical System, Boston Scientific Corporation, and Vivus, Inc.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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