Erectile Dysfunction Drugs Market Insights and Assessment of Growth Factors Analyzed Until the End of 2023 | Industry Players – Pfizer Inc., Bayer AG Etc.
Inability to keep the firm erection firm enough during sexual intercourse is known as erectile dysfunction or impotence. This is a common disorder, and there are remedies to cure it due to the availability of various drugs. Market Research Future (MRFR) has published a research report about the Global Erectile Dysfunction Drugs Market that predicts growth for this market with 6.5% CAGR between 2017 and 2023. In terms of cash, the market has been anticipated to rise to the US $ 2.95 bn by the end of the forecast period.
Analyzing the market structure, this report evaluates the future growth potential of the market. It observes the strategies of the key players in the market and follows the competitive developments such as joint ventures, new product developments, mergers and acquisitions, research and developments (R & D) in the market. The global medical sensors market is growing steadily and has a bright future. The significant technological advancement and demand for smart medical devices is the primary reason for the growth of this market.
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The key factors that are aiding the growth of global erectile dysfunction drugs market include an increase in the competition among the major market players, increasing number of men suffering from erectile dysfunction, and a number of drugs available in the market. However, some factors that can harm the market growth include the availability of counterfeit drugs, the increasing manufactures of generic drugs in the market, and patent expiry of a number of blockbuster drugs.
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)
- S.K. Chemicals Co. Ltd. (South Korea)
- Apricus Biosciences Inc. (U.S)
Industry News:
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 – 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.
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 Erectile Dysfunction Drugs 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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