According to Coherent Market Insights, the global sexual health market is estimated to be valued at US$ 10,289.5 million in 2019 and is expected to exhibit a CAGR of 4.2% during the forecast period (2019-2027).
Key Trends and Analysis of the Global Sexual Health Market:
Adoption of inorganic growth strategies such as collaborations, and partnerships by key players for distribution of their products, is expected to propel market growth and expand the consumer base. For instance, in May 2014, Sanofi entered an acquisition agreement with Eli Lilly and Company to acquire the rights from Eli Lilly and Company to apply for regulatory approval for the nonprescription Cialis (OTC) in the U.S., Europe, Canada, and Australia.
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Moreover, rising product launches by major players in the market is contributing to growth of the sexual health market. For instance, in 2017, Teva Pharmaceutical Industries Ltd. announced the launch of generic version of Viagra (sildenafil citrate) tablets in the U.S. indicated for the treatment of erectile dysfunction.
Furthermore, rising involvement of major players in development of novel, and effective drug candidates for the treatment of sexual dysfunction may contribute to the growth of the sexual health market. For instance, in November 2019, Can-Fite BioPharma Ltd. received a patent grant in Canada, South Korea, and Israel for its drug candidate CF602, which is indicated for the treatment of a sexual dysfunction.
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Moreover, drug recall may also have negative impact on the growth of the sexual health market. For instance, in February 2017, the U.S. FDA issued a product recall notice for Edex, a self-injected male sexual dysfunction drug developed by Endo Pharmaceuticals, due to a defect in the crimp caps leading to contamination which can cause localized as well as systemic infections.
Key Market Takeaways:
- The global sexual health market is expected to witness a CAGR of 4.2% during the forecast period (2019-2027) owing to rising products approvals by regulatory authority in June 2019, AMAG Pharmaceuticals received U.S. FDA approval for its Vyleesi (bremelanotide) for the treatment of acquired, generalized hypoactive sexual desire disorder (HSDD) in premenopausal women
- Among product type, the erectile dysfunction drugs segment is expected to hold significant market share in sexual health market owing to increasing product launches. For instance, in March 2018, Camber Pharmaceuticals, a generic pharmaceutical manufacturing company based in New Jersey (U.S.), launched generic Viagra (sildenafil tablets).
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- Major players operating in the global sexual health market include Teva Pharmaceutical Industries Ltd., Meda Pharmaceuticals, Inc., Eli Lilly & Company, Bayer AG, Vivus, Inc., Zydus Pharmaceuticals, IVFTECH APS, Merck & Co., Pfizer Inc., Sun Pharmaceutical Industries Ltd., Novartis International AG, Mylan Pharmaceuticals Inc., and AstraZeneca.
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