Global Erectile Dysfunction Drugs Market to Reach US$ 2.87 Bn by 2026; High Prevalence and Rise in Geriatric Population to Boost Market Growth
Albany, NY -- (SBWIRE) -- 06/18/2018 -- Erectile Dysfunction (ED) Drugs Market - Snapshot
Erectile dysfunction (ED) is the inability to achieve or maintain an erection sufficiently for satisfactory sexual performance. Aging is a major factor responsible for impeding the normal function of erection. Cardiovascular diseases, diabetes mellitus, spinal cord injuries, and hypertension, medications are some factors that have been found to cause erectile dysfunction. The first line of treatment for ED comprises oral medication of PDE5 inhibitors. The global erectile dysfunction drugs market was valued at US$ 4.35 Bn in 2016 and is projected to reach US$ 2.87 Bn by 2026, declining at a CAGR of 3.2% from 2018 to 2026. The market observed significant changes in 2018 mainly due to the loss of patent exclusivity in the U.S. of key revenue generating brands Viagra (sildenafil citrate), and is also expected to face a setback in the future due to loss of patent exclusivities of other recognized brands namely, Cialis (tadalfil) and Levitra/Staxyn (vardenafil).
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Male sexual function stridently declines after the age of 50 years along with increasing incidence of erectile dysfunction. Increase in susceptibility of geriatric population to erectile dysfunction increases demand for drugs to treat this abnormality. Moreover, psychological and physical changes, including hormonal alteration, can decrease libido and add to the cause of erectile dysfunction. According to a study conducted by New England Research Institutes in 2000, the worldwide prevalence of erectile dysfunction was 152 million in 1995. It is expected to increase to 322 million in 2025. Most of these cases are likely to occur in developing countries due to rise in geriatric aging population. Oral phosphodiesterase type 5 inhibitors are commonly used erectile dysfunction drugs across the globe. Viagra (sildenafil citrate) and other PDE 5 inhibitors such as Cialis (tadalafil) and Levitra/Staxyn (vardenafil) are extensively consumed for ED treatment worldwide.
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Loss of patent exclusivity of a branded drug results in revenue reduction by nearly 40% in the first year, which goes on decreasing to 30% and 20% in the following years. This is attributed to the launch of generic equivalents of these drugs being manufactured and marketed at 1/10th of the price of the original branded drug, thus resulting in higher consumption of generic drugs due to high efficacy and demand. Consequently, the generics segment is anticipated to be a promising area of investment even for original molecule manufacturers, as it is a mode of sustenance and offsetting expenditures of the companies.
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The global erectile dysfunction drugs market is segmented based on drug, distribution channel, and geography. In terms of drug, the erectile dysfunction drugs market is divided into Viagra, Cialis, Staxyn/Levitra, Stendra/Spedra, and others. The others drug class includes Zydena (medicated urethral system for erection), Mvix, Helleva, Vitaros, Caverject Impulse, generic products, and pipeline products. Cialis (tadalafil) sales exceeded that of Viagra (sildenafil citrate) due to patent expiration of Viagra (sildenafil citrate) in major countries in Europe. Patent expiry of Cialis (tadalafil) in 2017 is expected to drastically affect the market, considering the global sales of the drug was US$ 2.3 Bn in 2017.
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Geographically, the erectile dysfunction drugs market has been categorized into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest share of the global erectile dysfunction drugs market in 2016, followed by Europe. High awareness, increase in funding for research and grants, favorable medical reimbursement policies, high prevalence of erectile dysfunction, rapidly growing geriatric population, and promising clinical pipeline products drive the erectile dysfunction drugs market in North America. Middle East & Africa is an attractive market. The market in this region is expected to expand at a significant CAGR during the forecast period. The erectile dysfunction drugs market in Asia Pacific is anticipated to expand at a moderate growth rate. Japan and China account for major share of the erectile dysfunction drugs market in Asia Pacific, primarily due to large geriatric people affected with erectile dysfunction in these countries.
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The global erectile dysfunction drugs market is consolidated with a few companies accounting for major share. Key players operating in the global erectile dysfunction drugs market include Pfizer, Inc., Dong-A ST Co., Ltd., Eli Lilly and Company, Bayer AG, VIVUS, INC., and Teva Pharmaceutical Industries Ltd. Manufacturers are launching new products in the international market to tap the unmet needs of erectile dysfunction. Other prominent players operating in the global market include SK chemicals, Meda Pharmaceuticals Inc., Cristalia Produtos Quimicos Farmaceuticos Ltda. Apricus Biosciences, Inc., and Futura Medical plc.
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