The erectile dysfunction drugs market is expected to register a CAGR of nearly 8.00% during the forecast period.
The major factors leading to the growth of the erectile dysfunction (ED) drugs market include the rising adoption of a sedentary lifestyle along with the associated stress, rising geriatric population, and comorbidity between erectile dysfunction and heart diseases, and diabetes.
Sedentary lifestyle, alcoholism, and smoking greatly increase the risk of erectile dysfunction. Increasing adoption of these poor lifestyle choices will lead to the overall growth of the erectile dysfunction drugs market.
The rise in the number of ED cases can be correlated with the high growth of obesity, diabetes, and cardiovascular disorders. Hypertension is also another major illness linked to erectile dysfunction and as reported by CDC in 2018, the prevalence of hypertension has grown at a considerable rate, with approximately 65 million people suffering from the condition in the United States.
Key Market Trends
Retail Pharmacies is the Segment by Distribution Channel is expected to Dominate the Market
- The retail pharmacies are expected to dominate the market due to the easy availability of erectile dysfunction drugs at retail stores.
- As per the data published by the Consumer Healthcare Products Association, there are more than 750,000 retail establishments in the United States, both rural and urban consumers have access to treatments for various conditions, 24*7.
- Furthermore, according to the Journal of Sexual Medicine, 2020, ED is increasingly prevalent with age and particulary those men are affected at age 40.
- Thus, owing to the easy availability of the drug and rising cases of ED, the market is expected to witness high growth over the forecast period.
North America is Expected to Dominate the Market
- 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 United States Census Bureau’s Statistics as of 2017, the total number of people 65 and older exceeds 50 million, and between 2020-2030 the number of elderly is projected to increase by almost 18 million.
- The rise in geriatric population is expected to increase the number of patients suffering from ED, as it is very common in men above age 40. The availability of various ED drugs through over the counter (OTC) and online channels is a key factor for dominance of these regions.
- The presence of online pharmacy stores is a blessing in disguise for several patients who are conscious about visiting a retail pharmacy store to purchase ED and other sexual wellness products.
The market studied is a fragmented market owing to the presence of the various small and large market players. Some of the market players are Apricus Biosciences, Inc., Bayer AG, Eli Lilly and Company, Ferring Pharmaceuticals, GlaxoSmithKline plc., Metuchen Pharmaceuticals, LLC, Pfizer Inc., S.K. Chemicals Co. Ltd., Teva Pharmaceutical Industries Ltd., and VIVUS, Inc.
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