Erectile Dysfunction Drugs Market Will Be Worth USD 3.2 Billion By 2022: Grand View Research, Inc.
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.
Browse full research report on
Erectile
Dysfunction Drugs Market
Further key findings from
the report 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.
For
more information: http://www.grandviewresearch.com
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