Portland, OR, May 11, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Erectile Dysfunction Drugs Market By Product (Sildenafil, Avanfil, Tadalafil, Udenafil, and Others.), By Mode of Administration (Oral Medications and Injectable Medication), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy and Online Pharmacy): Global Opportunity Analysis and Industry Forecast, 2022-2032.” According to the report, the global erectile dysfunction drugs industry was estimated at $2.6 billion in 2022, and is anticipated to hit $5.1 billion by 2032, registering a CAGR of 6.5% from 2023 to 2032.
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Prime determinants of growth
The global erectile dysfunction drugs market is driven by factors such as an Increase in the prevalence of erectile dysfunction due to diabetes, obesity, and sedentary lifestyle, easy accessibility of erectile dysfunction drugs, and surge in awareness about erectile dysfunction. However, side effects associated with erectile dysfunction drugs such as nasal congestion, blurred vision, and flushing are hampering the erectile dysfunction drugs market growth. On the contrary, an increase in R&D activities in erectile dysfunction treatment, high growth potential in developing countries, and a rise in new erectile dysfunction drugs launch are expected to offer remunerative opportunities for expansion of the erectile dysfunction drugs market during the forecast period.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $2.6 billion |
| Market Size in 2032 | $5.1 billion |
| CAGR | 6.5% |
| No. of Pages in Report | 251 |
| Segments Covered | Products, Mode of Administration, Distribution Channels, and Region. |
| Drivers | Rise in the prevalence of erectile dysfunction |
| Increase in the prevalence of psychological disorders | |
| Opportunities | High growth potential in developing economies |
Impact of Covid-19 on Erectile Dysfunction Drugs Market
- The outbreak of the COVID-19 pandemic had a positive impact on the erectile dysfunction drugs market due to the increased sales of erectile dysfunction drugs.
- On the other hand, as the global situation started ameliorating, the demand for erectile dysfunction drugs increased, and the rise in product launches and product approvals further contributed toward the market growth. This, in turn, presented various growth opportunities for companies operating in the erectile dysfunction drugs market.
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The sildenafil segment to maintain its leadership status throughout the forecast period
Based on product, the sildenafil segment held the highest market share in 2022, accounting for more than half of the global erectile dysfunction drugs market revenue and is estimated to maintain its leadership status throughout the forecast period. The same segment is projected to manifest the highest CAGR of 7.1% from 2023 to 2032. This is because it is easily accessible, highly potent to treat erectile dysfunction, and it is available in various concentrations such as Sildenafil 20mg, sildenafil 50mg, and sildenafil 100mg.
The oral medication segment to maintain its leadership status throughout the forecast period
Based on mode of administration, the oral medication segment held the highest market share in 2022, accounting for more than four-fifths of the global erectile dysfunction drugs market revenue and is estimated to dominate the market in terms of revenue during the forecast period. The same segment is estimated to manifest the highest CAGR of 6.8% from 2023 to 2032, owing to increase in demand for oral medications as it is easy to administer, highly effective, and widely available in the market as compared with injectable medication.
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The hospital pharmacy segment to maintain its lead position during the forecast period
Based on the distribution channel, the hospital pharmacy segment accounted for the largest share in 2022, contributing to more than two-fifths of the global erectile dysfunction drugs market revenue and is expected to rule the roost in terms of revenue throughout the forecast timeframe. This segment is projected to maintain the highest CAGR of 7.2% during the forecast period, owing to an increase in the sale of prescription medication from hospitals and the availability of erectile dysfunction drugs in various concentrations through hospital pharmacies.
North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for around two-fifths of the global erectile dysfunction drugs market revenue and is estimated to lead the trail throughout the forecast period. The growth is attributed to an increase in accessibility of erectile dysfunction drugs and rise in product approvals. However, the Asia-Pacific region is expected to witness the fastest CAGR of 7.5% from 2023 to 2032, owing to rise in awareness of erectile dysfunction, surge in healthcare expenditure, and an increase in the prevalence of various chronic diseases such as diabetes and obesity.
Leading Market Players:
- Pfizer Inc.
- Eli Lilly and Company
- Teva Pharmaceutical Industries Ltd.
- Sanofi
- Bayer AG
- Vivus LLC.
- Adamed
- Glenmark Pharmaceuticals Limited
- Cipla Ltd
- Sun Pharmaceutical Industries Limited
The report provides a detailed analysis of these key players of the global erectile dysfunction drugs market. These players have adopted new product launches to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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