Market Research Future (MRFR) collected data on several factors including implications of COVID 19 Impact on Erectile Dysfunction Drugs Market and demographic challenges, showed how it could move forward in the coming years.
Erectile Dysfunction Drugs Market Overview:
Market Research Future (MRFR) in their latest report on the erectile dysfunction drugs market discusses the possibility of growth by 6.5% during the forecast period (2017-2023). The time-span would also witness a surpassing of the estimated market value of USD 2.95 billion. Erectile dysfunction is a disease where people are unable to retain their erection strong during physical intercourse which is also known as impotence. The disease generally takes place in men of over 40 years of age due to reasons both physical and psychological. However, stress or other health anomalies can trigger the disease to appear at a much earlier age. It can also happen due to an unhealthy lifestyle mainly dominated by smoking and alcohol.
An increasing number of men suffering from the disease is for sure going to be the main factor in the coming years. At the same time, factors such as the patent expiry of some major drugs can influence many new market players in launching their product line. New market entrants can also make the global erectile dysfunction drugs market intensely competitive owing to which the market can expand substantially.
However, the erectile dysfunction drugs market can find it difficult to counter threats posed by waning insurance coverage and counterfeit drugs.
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Erectile Dysfunction Drugs Market Segmentation:
MRFR, for a better analysis of the erectile dysfunction drugs market, segmented it by product and end-users which also includes data for both volume-wise and value-wise analysis.
Based on the product, the erectile dysfunction drugs market can be segmented into Viagra, Cialis, Levitra, Stendra, Zydena, and other drugs. Among these medicines, Viagra has a substantial market value as over 20 million people globally use the medicine to treat their disease.
With the aim to discuss the erectile dysfunction drugs market more intensively, MRFR discussed it on the basis of hospitals, clinics, pharmaceutical companies, and others. Substantial growth can be assessed in hospitals and clinics in the last few years, and they would grow in the coming years as well.
Erectile Dysfunction Drugs Market Regional Analysis:
Geographically, MRFR segments erectile dysfunction drugs market into the America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). This detailed analysis of the region would provide a better predictive state of the market in the coming years.
The market in the Americas generates the maximum revenue as the large patient pool of the region substantially backs up the regional market. At the same time, high healthcare expenditure, well-developed technology, and robust infrastructure are providing ample tailwind to the regional market.
Europe’s market is getting driven primarily by Germany, France, and the U.K., where smoking plays a huge role in triggering erectile dysfunction among men. Statistics provided by the European Association of Urology showed that often the disease is not treated which opens up a vast area for major players of the market for their expansion strategy.
The APAC market’s growth would depend majorly on countries which are emerging as the new medical tourism hub. The regional population is also a huge opportunity for drugs manufacturer to find a suitable point of entry and expand accordingly.
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Erectile Dysfunction Drugs Market Competitive Analysis:
As per the report of the MRFR, the erectile dysfunction drugs market is getting influenced by the presence of companies such as S.K. Chemicals Co. Ltd. (South Korea), Eli Lily & Co. (U.S), Dong–A Pharmaceutical Co. Ltd. (South Korea), Apricus Biosciences Inc.(U.S), Pfizer Inc. (U.S), Bayer AG (Germany), Dong-A Pharmaceutical Co. Ltd., (South Korea), Cristalia Produtos Quimicos Farmaceuticos Ltd. (Brazil), Meda Pharmaceuticals, Inc. (U.S), Apricus Biosciences Inc. (U.S), Vivus, Inc. (the U.S), and others.
In 2018, Eli Lily & Co.’s Cialis lost patent exclusivity owing to which the company is anticipating lower revenue from the sale of the drug.
Apricus Biosciences Inc. received clearance for Vitaros from FDA recently due to which the company is now looking for a partnership that would ease up the production in the U.S.