Erectile Dysfunction Treatment Market Value Projected to Expand by 2018 to 2026
Albany, NY -- (SBWire) -- 12/12/2018 --Erectile dysfunction (ED) is a common sexual problem among men, wherein they are unable to maintain erection during copulation. The problem is age related and can be caused due to diabetes, kidney disease, prostate cancer, high blood pressure, physical injury to the prostate, penis, and pelvis. Emotional and psychological issues such as depression, stress, and anxiety can also cause erectile dysfunction. Additionally, intake of prescription medications such as antidepressants, opioid painkillers, chemotherapeutic agents, hormone drugs, amphetamines, and some sleeping pills can lead to this condition.
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Rise in number of individuals experiencing erectile dysfunction is the major factor contributing to the growth of the market. According to estimates, 1 in 10 men suffer from ED globally. In the U.S. alone, more than 30 million men suffer from ED and the number is expected to rise in the next few years. Globally, men aged between 20 and 29 have around 65% chance of having ED as compared to older men aged 75 years and above, who have 77.5% probability of having ED. According to a United Nations study, the number of people aged 60 years and above was around 962 million in 2017, comprising 13% of the global population. In 2017, the number of people aged 80 years and above stood at 137 million and it is expected to triple by 2050 to reach 425 million and rise further to 909 million by 2100. The exponential rise in the geriatric population is anticipated to increase the number of patients suffering from ED which in turn is projected to drive the market. Rise in the number of individuals with diabetes is also a key factor contributing to the growth of the market. Nearly 35% to 75% men suffering from diabetes experience some degree of ED. The rapid rise in the diabetic population, which reached 422 million in 2014 (WHO estimates), is expected to increase the population of men with ED. This in turn is likely to drive demand for products used in the treatment of ED.
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Pharmaceutical companies are increasingly focusing on new product development as part of their growth strategy. In November 2017, Qualigen launched Tadalafil Qualigen EFG, which is bioequivalent to Cialis marketed by Eli Lilly and used for the treatment of ED in men. The launch of Tadalafil Qualigen EFG along with its existing drug Sildenafil Qualigen has helped the company broaden its portfolio of erectile dysfunction products. In December 2016, Apricus Biosciences launched Vitaros, a novel on-demand topical cream, in Lebanon to be used in the treatment of ED. The product is marketed by Elis Pharmaceuticals Ltd. and is aimed at tapping the highly attractive ED market in the Middle East.
The global erectile dysfunction treatment market can be segmented based on treatment type, end-user, and region. In terms of treatment type, the market can be divided into drug-based treatment, device-based treatment, and others. Based on drug type, the drug-based treatment segment can be classified into avanafil, sildenafil, tadalafil, and vardenafil. In terms of end-user, the global erectile dysfunction market can be categorized into hospitals, ambulatory surgical centers, and specialty clinics.
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Geographically, the global erectile dysfunction treatment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global market due to high awareness levels among men about the disorder and launch of new products by pharmaceutical companies for the treatment of ED. The market in Asia Pacific is anticipated to grow at a rapid pace during the forecast period due to rise in prevalence of ED because of increase in geriatric population in the region.
Key players operating in the global erectile dysfunction treatment market are Apricus Biosciences, Inc., Bayer AG, Eli Lilly and Company, Meda Pharmaceuticals, Inc., and Pfizer, Inc.
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