Market Trends of Erectile Dysfunction Drugs Industry
The Viagra (sildenafil citrate) Segment is Expected to Dominate the Market
Erectile dysfunction is treated with the drug sildenafil. It helps men get an erection by increasing blood flow to the penis. Viagra is the most common drug used as first-line therapy in the treatment of erectile dysfunction. Viagra is also used to treat pulmonary arterial hypertension, which causes ED. According to an article published by Hims & Hers Health, Inc., in June 2021, more than 95% of erectile dysfunctional males who used sildenafil said they were satisfied with the way it affected their erections.
Furthermore, according to an article published by Inverse, in February 2020, Sildenafil is a popular option for men seeking to treat erectile dysfunction as it helps erections last for three to five hours after taking the medication. Sildenafil is sold under the trade name Viagra, which is highly well-known and earns its parent company, Pfizer, an estimated USD 1.8 billion annually.
Therefore, the above-mentioned factors are expected to drive segmental growth in the market during the forecast period.
North America is Expected to Dominate the Market over the Forecast Period
North America is expected to dominate the erectile dysfunction drugs market, owing to the rising geriatric population, increase in cases of ED, and the presence of better healthcare infrastructure. According to the September 2022 published article by MSD Manuals, in the United States, about 50% of men 40 to 70 years of age are somewhat affected by ED, and the percentage increases with aging. Furthermore, as per an article published by the National Institute of Diabetes and Digestive and Kidney Diseases, in 2021, ED affected approximately 30 million men in the United States. Besides, the country has the highest rate of self-reported ED which is expected to drive market growth over the forecast period.
Moreover, studies and product launches for the effective treatment of ED are also contributing to the market growth. For instance, in January 2022, Petros Pharmaceuticals, Inc., initiated two self-selection studies for its erectile dysfunction (ED) drug STENDRA (avanafil). Furthermore, in September 2022, Lupin Limited launched Sildenafil for oral suspension, 10 mg/mL, having received approval from the US FDA. Such advancements are driving the market.
