In 2017, global erectile dysfunction (ED) drugs market was valued at roughly $4.82 billion. It is now expected to generate revenue of approximately $7.10 billion by the end of 2024, growing at a compound annual growth rate (CAGR) of nearly 5.70% from 2018 to 2024.
The demand for erectile dysfunction drugs is growing significantly due to a high incidence rate of medical conditions such as hypertension, diabetes, neurogenic disorder, and psychological disorders, which are the potential causes of ED.
Other plausible causes of ED include aging, chronic alcoholism, smoking, sedentary lifestyles, and poor eating habits.
It has been found that poor lifestyle choices lead to the overall growth of the ED drugs market. Other factors such as patient awareness and education, ED campaigns by government and non-government organizations are also responsible for the market growth of ED drugs.
ED Drugs are the drugs that belong to the class of therapeutic agents called PDE5 (Phosphodiesterase type 5) inhibitors, which include:
- Sildenafil Citrate (Viagra)
- Vardenafil (Levitra/Staxyn)
- Tadalafil (Cialis)
- Avanafil (Stendra/Spedra)
- Udenafil (Zydena)
- Lodenafil Carbonate (Helleva)
- Mirodenafil (Mvix)
Viagra is one of the most popular medications worldwide. Since its introduction, Viagra has dominated the market in terms of revenue. In 2014, it was valued at over USD 2.4 billion.
Although its patent is expected to expire by 2019 in the U.S., Viagra is anticipated to account for around 27% of the market share by the end of 2024.
The Erectile Dysfunction Drugs Market is classified according to the forms – oral medications, injections, topical applications, and others. Amongst all, the oral medication form is most likely to dominate the ED drug market because the oral meds are the first line of treatment. Oral ED drugs are commonly prescribed across the globe.
Viagra and others meds such as Cialis and Levitra are commonly used ED drugs, thereby propelling the market for oral medicines.
The online sale of ED drugs is expected to grow at the highest CAGR over the forecast period. The online ED drug sales have been a blessing in disguise for innumerable patients who are too embarrassed to visit a retail drugstore to purchase ED drugs.
North America is one of the leading suppliers of the ED drugs market due to the presence of established health-care infrastructure and increasing demand for generic ED drugs.
Pfizer, Eli Lilly and Company, Apricus Biosciences, Bayer AG, Cristalia, Dong-A-Pharmaceutical Co., S.K. Chemicals Co., Ltd., Vivus, Inc., Teva Pharmaceutical, and Meda Pharmaceuticals, are some of the leading players in erectile dysfunction drugs market. Pfizer, in particular, has accounted for almost 40% market share in 2012. The market share of Pfizer is expected to go down because of the Viagra patent expiration in 2019. However, the market of Generic Viagra is expected to propel in the near future.
