Erectile Dysfunction Drugs Market Trends, Insights and Landscape
The global erectile dysfunction drugs market size was valued USD 1.65 billion in 2016 and is expected to reach a valuation of USD 2.95 billion at a CAGR of 6.5% by 2023, says Market Research Future (MRFR). Erectile dysfunction drugs are drugs used to correct erectile dysfunction, i.e. the inability of men to hold an erection and conceive. The growing awareness about erectile dysfunction is the major driver for the global erectile dysfunction drugs market, as people who would otherwise have been too ashamed to purchase ED products are now buying them openly. Increasing marketing efforts from developers of erectile dysfunction drugs to promote their products are also a major factor in the global erectile dysfunction drugs market exhibiting robust growth in the last few years. Growing awareness about erectile dysfunction drugs is likely to remain a key driver for the global erectile dysfunction drugs market over the forecast period.
The global erectile dysfunction drugs market is analyzed comprehensively in the report, which includes a detailed assessment of the major drivers and restraints affecting the market’s growth as well as key indicators regarding the economic background of the market. Microeconomic and macroeconomic factors affecting the global erectile dysfunction drugs market are analyzed in the report to provide a comprehensive look into the factors making the erectile dysfunction drugs market tick.
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Increasing manufacturing of generic erectile dysfunction drugs as well as the increasing availability of counterfeit erectile dysfunction drugs is likely to remain the key restraint on the global erectile dysfunction drugs market over the forecast period. Due to the patent expiry of blockbuster drugs, many generic variants are coming into the market, usually at lower prices than the former. This is likely to eat into the prospects of the erectile dysfunction drugs market in the coming years, with consumers often preferring lower priced generic variants of erectile dysfunction drugs than more expensive blockbuster varieties.
Counterfeiting is also likely to be a major problem for the global erectile dysfunction drugs market, due to the lucrative marketing of counterfeit erectile dysfunction drugs at much lower prices than either patented or generic drugs. In August 2019, a Southern California man was sentenced to more than eight years in prison for illegally smuggling erectile dysfunction products from China. Such cases are likely to remain a key threat for the global erectile dysfunction drugs market over the forecast period.
Erectile Dysfunction Drugs Market Segmentation:
The global erectile dysfunction drugs market is segmented based on product, end use, and region.
By product, the global erectile dysfunction drugs market is segmented into Viagra, Cialis, Levitra, Stendra, Zydena, and others. Viagra holds a dominant 40% share in the global erectile dysfunction drugs market, with Levitra and Cialis also holding significant shares in the market. This configuration of the market is likely to sustain in the coming years, despite the patent expiry concerns regarding Viagra and the subsequent onslaught of generics.
By end use, the global erectile dysfunction drugs market is segmented into hospitals, clinics, pharmaceutical companies, and others.
Leading players in the global erectile dysfunction drugs market include Apricus Biosciences Inc., S.K. Chemicals Co. Ltd., Dong-A Pharmaceutical Co. Ltd., Eli Lilly & Co., Bayer AG, and Pfizer Inc.
Seoul Pharmaceutical announced plans to export Sildenafil 50mg and 100mg and Tadalafil 20mg to Taiwanese company Ryders International for the next five years. This is a key step in Seoul’s efforts to branch out into the Asian market for ED drugs. The company also exported Aliden suspension to Mongolia in April 2019, as well as receiving sales approval for Sildenafil in Indonesia in August.
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The Americas are likely to retain the top position in the global erectile dysfunction drugs market over the forecast period thanks to the presence of several leading players in the global erectile dysfunction drugs market, which has allowed for easy and widespread distribution of a number of erectile dysfunction drugs. Europe holds the second largest share in the global erectile dysfunction drugs market, followed by Asia Pacific.
Erectile Dysfunction Drugs Market Drivers and Impact
· Rising Demand from Key Regions
· Growing Demand from Key Applications and Potential Industries
· Erectile Dysfunction Drugs Market Challenges and Impact
· Key Factors Considered for Industry Growth
· Erectile Dysfunction Drugs Market Trends and Application
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