Erectile Dysfunction is the inability to attain or maintain penile erection in men, sufficient for successful sexual intercourse. It is also known as impotence. It is a common medical disorder primarily affecting men older than 40 years of age. Growing elderly population, increasing awareness and patient education, elevated inclination towards a sedentary lifestyle, and growing incidence of several genitourinary diseases are some of the factors expected to drive the growth of the global erectile dysfunction drugs market.
Management of this disorder includes medical history, sexual history and psychological history of a person. There are number of drugs available for the treatment of erectile dysfunction which include both branded and generic drugs. Over 20 million men all over the world have used or are currently using Viagra to treat erectile dysfunction.
The Market for Erectile Dysfunction Drugs is growing rapidly and expected to continue its growth in near future. However, factors such as growing threat from counterfeit drugs, prevalence of STDs in erectile dysfunction drug users, and shrinking insurance coverage for ED treatment will hamper the growth of global erectile dysfunction market. Moreover, patent expiry of number of blockbuster drugs, availability of counterfeit drugs and increasing manufactures of generic drugs in the market may result in the decline of erectile dysfunction drugs market. Global market of erectile dysfunction drugs is expected to reach USD 2.95 billion in 2023 from USD 1.65 billion in 2016 over the forecast period 2017-2023. The global erectile dysfunction drugs market is expected to grow at a CAGR of 6.5% during the forecast period 2017-2023.
Global Erectile Dysfunction Drugs Market – Major Players
Key players in Erectile Dysfunction Drugs Market are
- Pfizer Inc. (U.S)
- Bayer AG (Germany)
- Eli Lily & Co. (U.S)
- Dong–A Pharmaceutical Co. Ltd. (South Korea)
- Apricus Biosciences Inc. (U.S)
- K. Chemicals Co. Ltd. (South Korea)
- Apricus Biosciences Inc. (U.S)
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Global Erectile Dysfunction Drugs Market – Segmentation
The Global Erectile Dysfunction Drugs Market has been segmented on the basis of end users, product, and lastly region. Based on the end users, this market has been segmented into clinics, hospitals, and pharmaceutical companies. The product-based segmentation of the market covers Cialis, Levitra, Stendra, Viagra, Zydena and other drugs.
Industry News:
In a first-to-file launch, Teva Pharmaceuticals has announced a generic version of Cialis® (Eli Lilly) tadalafil tablets (2.5 mg, 5 mg, 10 mg, 20 mg) for the US market. Tadalafil tablets are for the treatment of erectile dysfunction. 27 SEP 2018
Pfizer Inc. is an American global pharmaceutical corporation headquartered in New York City. It is among the world’s largest pharmaceutical companies. Pfizer develops and produces medicines and vaccines for a wide range of medical disciplines, including immunology, oncology, cardiology, diabetology/endocrinology, and neurology. Viagra drug for erectile dysfunction treatment manufactured by the company. In June 1, 2017, Pfizer Limited (India) acquired AstraZeneca’s Neksium.
Bayer AG is a chemical, pharmaceutical and life science company. It is one of the major players manufacturing drugs for erectile dysfunction. Levitra is a product offered by the company for this disorder. It is a major competitor for Pfizer in this market.
Eli Lilly and Company is an American global pharmaceutical company with headquarters located in Indianapolis, Indiana, in the United States. The company also has offices in Puerto Rico and 17 other countries. Its products are sold in approximately 125 countries. The company manufactures a drug named Cialis for erectile dysfunction. In January 2017, the Eli Lilly Company was awarded as world’s most ethical company.
Global Erectile Dysfunction Drugs Market – Regional Analysis
Via regional segmentation, the global erectile dysfunction drugs market has been segmented into continent-based regional markets known as The Americas (North America & South America), Europe, Asia Pacific, and the Middle East and Africa (MEA). Among these, The Americas is the largest market. In the Americas, North America is a bigger market than South America due to advanced technology and advanced medical facilities. This factor enables North America to emerge as the largest market on its own. Many key market players are based in North America, most of them in the United States of America (USA), the biggest economy in this region. All kinds of advanced medical facilities make North America an ideal market and hence, all kinds of drugs including erectile dysfunction drugs are always in demand, given the fact that many people in North America indulge in casual sex. After the USA, Canada is the most significant country-based market in North America.
Europe is the second largest market for erectile dysfunction drugs as it is technologically advanced but not as advanced as North America. Its high density of population makes it a suitable market. Due to reasons same as The Americas, Western Europe is a bigger market than Eastern Europe. The most important country-specific markets in Western Europe that are France, Germany, Italy, Spain, and the United Kingdom (UK).
During the forecast period, the Asia Pacific market is expected to emerge as the fastest growing market. The unhealthy lifestyle in this region causes erectile dysfunction among many people. The biggest factor that causes hindrance in the growth of the market in some Asian countries is the stigma and shame associated with it as in certain cultures, men suffering from this disorder are not considered as real men. Given the huge population of countries like China and India, the market in this region is set to grow. Other important country-specific markets in this region are Australia, Japan, and South Korea, followed by the rest of Asia Pacific.
The MEA region is a small market. The reasons for the low market in this region include lack of awareness about erectile dysfunction, lack of education, lack of technological development, political instability, poor healthcare, social stigma, and healthcare not considered a priority by most governments. In this region, the significant country-specific markets are Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (UAE), followed by the rest Of the MEA region.
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