The global erectile dysfunction drugs market is expected to reach USD 3.2 billion by 2022 according to a new report by Grand View Research Inc. Rising adoption of sedentary lifestyle and increasing prevalence of conditions causing erectile dysfunction such as stress, hypertension, and related medications are the key factors expected to widen the target population base for this market.
However, the market is estimated to witness decline in revenue over the forecast period. Expiration of key drugs from 2017 to 2019 is likely to curb revenue growth. On the other hand, the market is likely to open up new avenues for the generic manufacturers to capitalize on. The increasing risk of sexually transmitted diseases, narrowing of insurance coverage for erectile dysfunction treatment, growing threat from counterfeit drugs, and presence of social stigma in developing countries are some factors limiting penetration rates.
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Further key findings from the report suggest:
- Viagra accounted for over 47.0% of the total revenue in 2014. It is generally considered as the first line of treatment for erectile dysfunction. Brand loyalty and advantages associated with this drug such as high efficacy, and effectiveness are the major factors attributing for its large market share.
- Cialis (tadalafil) from Eli Lilly & Co. and Levitra (vardenafil) from Bayer AG are known to be the competitors for Viagra globally. Cialis (tadalafil) was approved in 2003 by the U.S. FDA, as a prescription drug in the U.S. Cialis is also known as “The Weekend Pill” owing to its 36-hour effectiveness.
- After the patent expiration of key drugs such as Cialis (tadalafil) in 2017 and Levitra (vardenafil) in 2018, other drugs such as Stendra/Spedra, Zydena (udenafil), and Vitaros (Alprostadil Cream) are expected to capture the market share during the forecasts period.
- North America constituted the largest share of approximately 55.0% in 2013 of the total erectile dysfunction market. Extension of patent exclusivity rights for Viagra (sildenafil citrate) in the U.S. till 2019 along with introduction of new erectile dysfunction drugs such as Zydena (udenafil) and Stendra/Spedra (avanafil) will be the major factors responsible for market growth during the forecasts period.
- Asia Pacific accounted for a revenue share of over 16.5% in 2012 owing to the presence of a lucrative market for generic drugs, untapped opportunities, and increasing awareness related to erectile dysfunction in this region.
- Apricus Biosciences Inc., Cristalia Produtos Quimicos Farmaceuticos Ltd., Bayer AG, Dong-A Pharmaceutical Co. Ltd., Meda Pharmaceuticals, Inc., Eli Lilly and Company, Pfizer, Inc., S.K. Chemicals Co. Ltd., and Vivus, Inc. are some major players of this market.
- Extensive R&D carried out by companies and high unmet needs in developing economies are expected to boost industrial growth. Key manufacturers are targeting regions with unmet clinical needs by entering into agreement with local manufacturers and distributors. Key players are constantly engaged in developing novel drugs in an attempt to improve the presence and ensure sustainability.
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