DUBLIN--(BUSINESS WIRE)--The "Drugs For Erectile Dysfunction Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.
The global drugs for erectile dysfunction market was valued at about $4.28 billion in 2018 and is expected to grow to $5.18 billion at a CAGR of 4.9% through 2022. Major players in the market are Eli Lilly and Co., Pfizer, Bayer AG, Dong-A Pharmaceutical Co. Ltd. and Vivus.
The erectile dysfunction drugs market has been geographically segmented into North America, Western Europe, APAC, Eastern Europe, South America and Middle East & Africa. The North American market is the largest market for erectile dysfunction drugs and is expected to continue to be the largest market during the forecast period.
Drastic increase in the number of chronic diseases drives the erectile dysfunction drugs market. Erectile dysfunction is mainly caused by chronic diseases resulting from sedentary lifestyle such as cardiovascular diseases, diabetes, obesity, and high blood pressure. According to WHO, prevalence of chronic diseases is expected to grow by 57% by the end of year 2020. Prevalence of chronic diseases increases the chances of erectile dysfunction among men, thereby driving the erectile dysfunction drugs market.
Patients suffering from erectile dysfunction do not seek treatment owing to factors such as lack of education, lack of awareness, strong religious beliefs, social taboo, and low socioeconomic status. These factors are responsible for the patients suffering from erectile dysfunction to reject or avoid the treatment. For example, a study conducted by Harlem Hospital in New York City in 2018 among 100 men reveled that more than 86% of the respondents did not have the knowledge that smoking causes erectile dysfunction. These factors restrain the growth of erectile dysfunction drugs market.
New drug delivery techniques such as the use of pellets and creams are being implemented by many companies in the erectile dysfunction drugs market. Pellets and creams will have more efficacy and performance in erectile dysfunction and these are also more effective and safer to use. These benefits from drug delivery techniques will increase the scope of erectile dysfunction drugs market. For example, in 2018, Apricus Biosciences entered into manufacturing cream called vitaros to treat erectile dysfunction.
Medicines are authorized by regulatory bodies based on quality, safety, and efficacy to make sure that medicines are of standard quality and gives positive benefit. Companies are mandated to submit the documentation for the standard quality before applying for the authorization. Safety and efficacy of medicines should be demonstrated by clinical trials for all new medicines by the companies. Competent authorities will assess this data before authorizing the drugs. In Europe, the European Medicines Agency (EMA) assesses the drugs for centrally authorized products.
- Eli Lilly and Co.
- Bayer AG
- Dong-A Pharmaceutical Co. Ltd.
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