Erectile dysfunction is the incapability to maintain sufficient erection for pleasing sexual performance. Managing this disorder includes medical history, sexual history and psychological history of a person. There are numerous drugs available for the treatment of erectile dysfunction which include both branded and generic drugs. It is a common medical disorder mostly affecting men older than 40 years of age. Stress and mental health concerns may worsen the problem and physical and psychological issues may also cause erectile dysfunction.
The global erectile dysfunction market was USD 4117.1 million in 2018 and is estimated to reach USD 4812.6 million by 2025 at a CAGR of 2.25% during the forecast period
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Growth by Region
North America dominated the global erectile dysfunction market, occupying more than 42.6% of the total market share in 2018. The various factors boosting the growth of the market are better access to ED treatments and reimbursement coverage for high post penile implant surgeries. Europe is the second largest market whereas, Asia Pacific shows fastest growth owing to rapidly changing healthcare sector, and the presence of huge opportunities for the development of this market. However, the Middle East & Africa has the minimum share in the market owing to the presence of poor and slow developing countries, especially, in African region. The Middle East holds the main share of the regional market due to well-developed technology and high spending.
Drivers and Restraints
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Growing disease awareness, rising patient willingness to seek medical assistance for disease management, and the increasing presence of favourable guidelines are driving the growth. The global erectile dysfunction market is also witnessing a growing demand for low-cost generic drugs, especially in the APAC countries such as India and China. The rise in the risk of sexually transmitted diseases, reduction 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.
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Industry Trends and Updates
In January, 2017, the Eli Lilly Company was awarded as world’s most ethical company. Pfizer Inc., an American global pharmaceutical corporation headquartered in New York City in June 2017, acquired AstraZeneca’s Neksium.