Erectile Dysfunction Drugs Market to Reach $3.2 Billion by 2022 / Expiration of Key Drugs from 2017 to 2019 is Likely to Curb Revenue Growth.
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According to report published by Grand View Research, The global erectile dysfunction drugs market size was valued at over USD 4.39 billion in 2014. Key drivers of the market include an increase in patient awareness and education levels and growing base of geriatric population
The global erectile dysfunction drugs market is expected to reach USD 3.2 billion by 2022 according to a new report by Grand View Research Inc. Rising adoption of sedentary lifestyle and increasing prevalence of conditions causing erectile dysfunction such as stress, hypertension, and related medications are the key factors expected to widen the target population base for this market.
However, the market is estimated to witness decline in revenue over the forecast period. Expiration of key drugs from 2017 to 2019 is likely to curb revenue growth. On the other hand, the market is likely to open up new avenues for the generic manufacturers to capitalize on. The increasing risk of sexually transmitted diseases, narrowing of insurance coverage for erectile dysfunction treatment, growing threat from counterfeit drugs, and presence of social stigma in developing countries are some factors limiting penetration rates.
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North America erectile dysfunction drugs market, by product, 2012 - 2022, (USD Million)
Further key findings from the study suggest:
*Viagra accounted for over 47.0% of the total revenue in 2014. It is generally considered as the first line of treatment for erectile dysfunction. Brand loyalty and advantages associated with this drug such as high efficacy, and effectiveness are the major factors attributing for its large market share.
*Cialis (tadalafil) from Eli Lilly & Co. and Levitra (vardenafil) from Bayer AG are known to be the competitors for Viagra globally. Cialis (tadalafil) was approved in 2003 by the U.S. FDA, as a prescription drug in the U.S. Cialis is also known as "The Weekend Pill" owing to its 36-hour effectiveness.
*After the patent expiration of key drugs such as Cialis (tadalafil) in 2017 and Levitra (vardenafil) in 2018, other drugs such as Stendra/Spedra, Zydena (udenafil), and Vitaros (Alprostadil Cream) are expected to capture the market share during the forecasts period.
*North America constituted the largest share of approximately 55.0% in 2013 of the total erectile dysfunction market. Extension of patent exclusivity rights for Viagra (sildenafil citrate) in the U.S. till 2019 along with introduction of new erectile dysfunction drugs such as Zydena (udenafil) and Stendra/Spedra (avanafil) will be the major
factors responsible for market growth during the forecasts period.
*Asia Pacific accounted for a revenue share of over 16.5% in 2012 owing to the presence of a lucrative market for generic drugs, untapped opportunities, and increasing awareness related to erectile dysfunction in this region
*Apricus Biosciences Inc., Cristalia Produtos Quimicos Farmaceuticos Ltd., Bayer AG, Dong-A Pharmaceutical Co. Ltd., Meda Pharmaceuticals, Inc., Eli Lilly and Company, Pfizer, Inc., S.K. Chemicals Co. Ltd., and Vivus, Inc. are some major players of this market
*Extensive R&D carried out by companies and high unmet needs in developing economies are expected to boost industrial growth. Key manufacturers are targeting regions with unmet clinical needs by entering into agreement with local manufacturers and distributors. Key players are constantly engaged in developing novel drugs in an attempt to improve the presence and ensure sustainability.
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Grand View Research has segmented the global erectile dysfunction drugs market on the basis of product and region:
Erectile Dysfunction Drugs Product Outlook (Revenue, USD Million, 2012 - 2022)
*Viagra (sildenafil citrate) *Cialis (tadalafil) *Levitra/Staxyn (vardenafil) *Stendra/Spedra (avanafil) *Zydena (udenafil) *Vitaros (Alprostadil Cream) *Others
Erectile Dysfunction Drugs Regional Outlook (Revenue, USD Million, 2012 - 2022)
*North America *Europe *Asia Pacific *RoW
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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|Date:||Sep 3, 2019|
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