New York, April 06, 2023 (GLOBE NEWSWIRE) -- The global erectile dysfunction drugs market is anticipated to surpass around USD 6.1 billion by 2032 from USD 3.2 billion in 2022 and it is poised to reach a CAGR of 6.8% from 2022 to 2032. Erectile dysfunction is the inability to achieve and maintain a strong enough penile erection during sexual intercourse. This is the most common sexual disorder in males.
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Key Takeaway:
- By drug type, the viagra (sildenafil citrate) segment is expected to grow fastest during the forecast period of 2023 to 2032.
- By distribution channel, the retail pharmacies segment dominates the market with the largest revenue share of 46%.
- In 2022, North America dominated the global erectile dysfunction drugs market with the highest revenue share of 51.7%.
- In 2022, Asia Pacific Revenue Share the global erectile dysfunction drugs market with revenue share of 26.3%.
- Between 2023-2032, the entry of new products in the Asia-Pacific region is expected to help the market's growth.
The erectile dysfunction drugs market is growing due to adoption of a sedentary lifestyle, growing awareness, rising disease prevalence, and an increase in the incidence of lifestyle diseases.
Factors affecting the growth of the erectile dysfunction drugs market
Several factors can affect the growth of the erectile dysfunction drugs market. Some of these factors include:
- Physiological factors: Market growth is expected to be influenced by physiological factors like high blood pressure, high cholesterol, obesity, smoking, and tobacco use which in turn leads to ED.
- Psychological factors: Psychological causes like stress, mental health issues, and depression results in ED and needs the treatment. Due to this the demand for ED drugs rises and in support the market growth.
- Prevalence of ED: Due to comorbid conditions like diabetes and obesity, the prevalence of ED is on the rise. Men with medication, neurologic, hormonal and vascular etiologies, are also at high risk of developing this condition.
- Availability of Affordable Medicines: Generic sildenafil is available at a cheaper price compared to viagra. Thus the demand for ED is rising due to this affordability which is expected to propel the market growth.
- Increasing investment on R&D: The innovations and development of drugs by manufacturers and researchers as well as increase in the number of the clinical trials for ED drugs are likely to expand the market for ED drugs.
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Top Trends in Erectile Dysfunction Drugs Market
Generic sildenafil is available at cheaper cost than viagra, depending on the dose. Viagra typically costs between USD 70 to 75 per pill, while generic sildenafil starts from USD 8.5 or less. The availability of affordable medication could lead to higher adoption rates and greater market expansion. The WHO estimates that between 30 and 70% of diabetic males have experienced an ED over a lifetime. Diabetic conditions can also ruin the sexual life of individual at very early age, hence the diabetic individuals require an ED drugs to overcome this condition which is likely to propel the market growth.
Market Growth
The market will likely continue to expand due to the increasing investments in R&D and clinical trials creating significant growth opportunities during the forecast period. The market was positively affected by the COVID-19 pandemic. This was due to the fact that COVID-19 caused an underlying condition. The chance of developing erectile disorder is almost six times higher with COVID-19. Moreover, the increasing incidence of diseases and rising prevalence of ED is anticipated to boost the market growth.
Regional Analysis
North America was the largest market for erectile disorder drugs, accounting for 51.7% of total revenue in 2022. It is because of high prevalence of ED in this region, strong healthcare infrastructure, and approvals of new treatments. According to MSD Manuals' September 2022 publication, approximately half of American men between 40 and 70 years old are affected by ED and this percentage increases with age.
The Asia Pacific market for erectile dysfunction drugs will likely expand rapidly during the forecast period. The region's growth has been aided by the introduction of new products.
Competitive Landscape
The ED drugs market will likely continue to grow due to the increasing availability of generic versions. Generic versions of branded drugs are available from global players to treat ED. The market is highly competitive due to the availability of generic drugs at a low price and OTC topical formulations. The market's key players are also implementing numerous growth strategies to increase their portfolio. They participate in partnerships, mergers and acquisitions, as well as new product launches. This creates a competitive environment among market players.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 3.2 Billion |
| Market Size (2032) | USD 6.1 Billion |
| CAGR (from 2023 to 2032) | 6.8% |
| North America Revenue Share | 51.7% |
| Asia Pacific Revenue Share | 26.3% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
Poor lifestyles are leading to an increase in obesity, diabetes, and heart disease. As people age, this can lead to problems like ED. Many individuals living in developing countries live a stressful life, which can lead to increase in drinking, smoking, fast food and ready-to-eat food consumption. These factors can cause a decline of overall health and fitness which can increase the risk of developing erectile dysfunction and needs a treatment. As a result, the demand for ED drugs is increasing and positively drives the market growth.
An increasing number of older people among whom the ED is the most common health problem is expected to drive the global erectile dysfunction drugs market growth. The increasing awareness of the condition and the rise in education worldwide have contributed to a substantial growth in the erectile dysfunction market. The rise in lifestyle disorders is another factor that has contributed to market growth. Market value is further enhanced by strong brand loyalty and the increasing popularity of brands like Levitra/Staxyn/Cialis, Viagra, and Cialis.
Market Restraints
Most popularly, erectile dysfunction drugs are sold in developed and emerging economies. Their sales are lower in low- and middle-income countries. This is due to less knowledge, lower purchasing power and a reduced willingness to accept these medicines into one's everyday life. Side effects like nausea, headaches and dizziness are also contributing to the slower growth of this market.
Market Opportunities
In the last few years, established and emerging brands in the pharmaceutical industry have increased their investments in emerging countries like India, China, and Brazil. These investments have led to significant price reductions and an increase in supply and distribution of medicines in these countries. Moreover, advertising investments will play an important role in the expansion of the global market for erectile dysfunction medications.
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Report Segmentation of the Erectile Dysfunction Drugs Market
Drug Type Insight
Viagra (Sildenafil Citrate) holds 58% revenue share of the erectile dysfunction drugs market. Viagra differs from other PDE 5 inhibitors (phosphodiesterase 5 inhibitors) due to its long duration of action, lower side effects like muscle pain and visual disorders. Market growth can also be aided by performance of unknown molecule types' increased effectiveness and efficiency of alternative drug delivery methods, such as creams and pellets.
The other drugs segment is also expected to grow more in the coming years. The availability of several ED medications such as helleva (iodenafil carbonate), mvix (mirodenafil), and other medications that can be used to treat adult patients with erectile dysfunction, has aided in this market growth. With the acceptance of over-the-counter ED products, access to ED treatment has become easier.
End-User Insight
Retail pharmacies holds a largest market share of 46% due to their easy access to medicine and availability of generic ED drugs through retail pharmacies. Hospital pharmacies had a 35% of total market share. The rise in revenue for hospitals has been due to erectile dysfunction, and other sexual-related disorders. Because patients prefer the prescribed medication for their erectile dysfunction, hospitals pharmacies are mostly funded by developed nations. Hospital pharmacy growth declined in 2020 due to the COVID-19 pandemic.
Online pharmacies play a crucial role in the delivery and management of erectile dysfunction medication. Segment growth can be aided due to the ease of accessing medication and the decrease in stigma around sexual dysfunctions. Pfizer and Cipla now offer online portals. They also offer ED medication via the CiplaMed and Viagra websites. This has increased patient preference. Online pharmacies experienced a greater growth rate in 2020 than both hospital pharmacies and retail pharmacies due to the COVID-19 pandemic.
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Market Segmentation
By Drug Type
- Viagra (sildenafil citrate)
- Cialis (Tadalafil)
- Stendra/Spedra (avanafil)
- Zydena (udenafil)
- Levitra/Staxyn (vardenafil)
- Vitaros (Alprostadil Cream)
- Other Drugs
By Distribution Channel
- Hospital pharmacies
- Retail Pharmacies
- Online Pharmacies
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Key Market Players
- GlaxoSmithKline plc,
- Pfizer Inc.
- Eli Lilly and Company
- Bayer AG
- Lupin Limited
- Sun Pharmaceutical Industries, Ltd.
- Teva Pharmaceutical Industries, Ltd.
- Sanofi S.A.
- VIVUS LLC.
- Petros Pharmaceuticals, Inc.
- Auxilium Pharmaceuticals, Inc.
- Dong-A Pharmaceutical Co., Ltd.
- Other Key Players
Recent Development of the Erectile Dysfunction Drugs Market
- In September 2021, Almus Erectile Dysfunction Relief 50mg Film-Coated Tablets was launched by Almus in the pharmaceutical market of UK.
- In September 2021, iX Biopharma signed an agreement with CRPCG to license, supply and distribute Wafesil (a sublingual sildenafil wafer) for treatment of male erectile dysfunction in China through its wholly owned subsidiary.
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