Erectile Dysfunction Drugs Market to Boom USD2.95 Billion Value Till 2023 Global Key Players Includes Pfizer, Bayer AG
May 7, 2019
Erectile Dysfunction Drugs Market research report published by Market Research Future delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period 2019-2023
Pune, Maharashtra - May 7, 2019 /MarketersMedia/ —
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. Global Market of Erectile Dysfunction Drugs is expected to reach USD 2.95 billion in 2023 from USD 1.65 billion in 2016 with a CAGR of approximately 6.5% during the forecast period 2017-2023.
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Global Erectile Dysfunction Drugs Market – Major Players
Key players in Erectile Dysfunction Drugs Market are
Pfizer Inc. (U.S)
Bayer AG (Germany)
Eli Lily & Co. (U.S)
Dong–A Pharmaceutical Co. Ltd. (South Korea)
Apricus Biosciences Inc. (U.S)
K. Chemicals Co. Ltd. (South Korea)
Apricus Biosciences Inc. (U.S)
Industry News:
Pfizer Inc. is an American global pharmaceutical corporation headquartered in New York City. It is among the world's largest pharmaceutical companies. Pfizer develops and produces medicines and vaccines for a wide range of medical disciplines, including immunology, oncology, cardiology, diabetology/endocrinology, and neurology. Viagra drug for erectile dysfunction treatment manufactured by the company. In June 1, 2017, Pfizer Limited (India) acquired AstraZeneca’s Neksium.
Bayer AG is a chemical, pharmaceutical and life science company. It is one of the major players manufacturing drugs for erectile dysfunction. Levitra is a product offered by the company for this disorder. It is a major competitor for Pfizer in this market.
Eli Lilly and Company is an American global pharmaceutical company with headquarters located in Indianapolis, Indiana, in the United States. The company also has offices in Puerto Rico and 17 other countries. Its products are sold in approximately 125 countries. The company manufactures a drug named Cialis for erectile dysfunction. In January 2017, the Eli Lilly Company was awarded as world’s most ethical company.
Global Erectile Dysfunction Drugs Market – Segmentation
The Global Erectile Dysfunction Drugs Market has been segmented on the basis of end users, product, and lastly region. Based on the end users, this market has been segmented into clinics, hospitals, and pharmaceutical companies. The product-based segmentation of the market covers Cialis, Levitra, Stendra, Viagra, Zydena and other drugs.
Global Erectile Dysfunction Drugs Market – Regional Analysis
Via regional segmentation, the global erectile dysfunction drugs market has been segmented into continent-based regional markets known as The Americas (North America & South America), Europe, Asia Pacific, and the Middle East and Africa (MEA). Among these, The Americas is the largest market. In the Americas, North America is a bigger market than South America due to advanced technology and advanced medical facilities. This factor enables North America to emerge as the largest market on its own. Many key market players are based in North America, most of them in the United States of America (USA), the biggest economy in this region. All kinds of advanced medical facilities make North America an ideal market and hence, all kinds of drugs including erectile dysfunction drugs are always in demand, given the fact that many people in North America indulge in casual sex. After the USA, Canada is the most significant country-based market in North America.
Europe is the second largest market for erectile dysfunction drugs as it is technologically advanced but not as advanced as North America. Its high density of population makes it a suitable market. Due to reasons same as The Americas, Western Europe is a bigger market than Eastern Europe. The most important country-specific markets in Western Europe that are France, Germany, Italy, Spain, and the United Kingdom (UK).
During the forecast period, the Asia Pacific market is expected to emerge as the fastest growing market. The unhealthy lifestyle in this region causes erectile dysfunction among many people. The biggest factor that causes hindrance in the growth of the market in some Asian countries is the stigma and shame associated with it as in certain cultures, men suffering from this disorder are not considered as real men. Given the huge population of countries like China and India, the market in this region is set to grow. Other important country-specific markets in this region are Australia, Japan, and South Korea, followed by the rest of Asia Pacific.
The MEA region is a small market. The reasons for the low Erectile Dysfunction Drugs Market in this region include lack of awareness about erectile dysfunction, lack of education, lack of technological development, political instability, poor healthcare, social stigma, and healthcare not considered a priority by most governments. In this region, the significant country-specific markets are Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (UAE), followed by the rest Of the MEA region.
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