Global Erectile Dysfunction (ED) Drugs Market: Snapshot
The increasing prevalence of erectile dysfunction is boosting the global erectile dysfunction (ED) market. Erectile dysfunction can be caused due to various factors such as aging, cardiovascular diseases, spinal cord injuries, hypertension, side-effects of medicines consumed, and others. The effective and first line of treatment for ED comprises the oral medication such as Oral phosphodiesterase type 5 (PDE5) inhibitor.
Male sexual abilities decreases post 50 years of age coupled with rising incidence of ED. The elderly population is susceptible to the erectile dysfunction which is boosting the need for novel drugs for the treatment of this incapability. Moreover, some psychological and physical changes, coupled with growing incidences of hormonal alteration, are leading to increasing the erectile dysfunction which is propelling growth of the global erectile dysfunction (ED) drugs market.
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A study by New England Research Institutes, the patients suffering from erectile dysfunction was 152 million in 1995 and is expected to increase to 322 million in 2025. This rise in cases of erectile dysfunction is due to the growing geriatric population. This growing number is creating the need for the novel treatments and likely to propel the growth of the erectile dysfunction (ED) drugs market.
According to the TMR, the global erectile dysfunction (ED) drugs market was valued at US$4.35 Bn in 2016 and is expected to decline with 3.2% CAGR over the forecast period from 2018 to 2026 to reach a value of US$ 2.87 Bn by the end of 2026.
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Growth Witnessed in Retail Segment to Boost Market
On the basis of the drug, the global erectile dysfunction (ED) drugs market is segmented into viagra, cialis, staxyn/levitra, and stendra/spedra. Of these, cialis (tadalafil) dominated the global market for erectile dysfunction (ED) drugs followed by Viagra. Viagra segment was dominating the market, however, patent expiry affected its business. Additionally, patent expiry of Cialis in 2017 affected the growth of the market drastically.
On the basis of the distribution channel, the global erectile dysfunction (ED) drugs market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Of these, the retail pharmacies segment is expected to dominate the global erectile dysfunction (ED) drugs market owing to its easy availability of erectile dysfunction drugs at retail stores. The hospital pharmacies segments are accounting for the second-leading share and expected to expand with higher CAGR over the forecast period.
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High Awareness Aids Expansion of Market in North America
On the basis of region, the global erectile dysfunction (ED) drugs market is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Of these, North America dominated the global market for erectile dysfunction (ED) drugs in 2016 followed by Europe. This growth in the market is attributable to the high awareness and the growing research and development activities. Additionally, factors such as the presence of favorable medical reimbursement policies, the high prevalence of erectile dysfunction, and a growing geriatric population are fuelling the growth of dysfunction drugs market presence in North America. The market in the Middle East and Africa is offering lucrative opportunities owing to growing awareness about the presence of drugs for ED. However, the market in Asia Pacific is expected to expand with impressive CAGR owing to growth initiatives for increasing awareness about dysfunction drugs.
Some of the key players operating in the erectile dysfunction (ED) drugs market are Pfizer, Inc., Eli Lilly and Company, Dong-A ST Co., Ltd., VIVUS, INC., and Bayer AG. The global erectile dysfunction (ED) drugs market has consolidated vendor landscape. The aforementioned players are accounting for major shares in the global market for erectile dysfunction (ED) drugs. These manufacturers are increasingly launching new products in the international market to fulfill the unmet demands from patients for the treatment of erectile dysfunction.
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