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Erectile dysfunction occurs when a man is unable to achieve or maintain an erection firm enough to have sexual intercourse. Commonly known as impotence, it affects over 150 million men worldwide and is highly prevalent among ageing men. Factors such as hypertension, diabetes, obesity, high cholesterol, cardiovascular diseases, and metabolic syndrome increases the likelihood of developing erectile dysfunction. Lifestyle changes such as excessive alcohol consumption, smoking and lack of physical activity also significantly contributes to the rising cases of erectile dysfunction globally.
Treatment for erectile dysfunction includes oral ED pills, penile injections, penile implants, topical drugs or alternative therapies. Oral phosphodiesterase type 5 inhibitors (PDE5Is) such as sildenafil, tadalafil and vardenafil are currently the first line treatment options for erectile dysfunction. These drugs help improve blood flow in the penis thereby helping achieve and maintain erection. They are easy to administer and have minimal side effects.
The global Erectile Dysfunction Treatment Market size is estimated to be valued at US$ 4.54 Bn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rise in novel drug development: Several pharmaceutical companies are investing heavily in development of novel erectile dysfunction drugs with better efficacy and wider therapeutic window. Some of the new drug candidates under clinical trials include prostamide E1 analogues, potassium channel openers, nitric oxide- donating prostaglandin E1, selective endopeptidase inhibitors and gene therapies. These new drug formulations are expected to capture significant market share in coming years.
Increasing adoption of alternative therapies: Dissatisfaction with side effects of existing oral drugs is boosting demand for alternative treatment approaches such as low intensity extracorporeal shockwave therapy, prolotherapy, stem cell therapy, PRP injections and traction devices. These therapies are gaining popularity due to their non-invasive nature and promising early clinical results. Their adoption is expected to grow substantially over the forecast period.
Porter’s Analysis
Threat of new entrants: The erectile dysfunction treatment market has moderate threat from new entrants due to high capital requirements for R&D and manufacturing facilities. However, opportunities exist through licensing agreements.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of generic drugs and treatment options. However, branded drugs have customer loyalty providing some protection to companies.
Bargaining power of suppliers: Suppliers of active pharmaceutical ingredients have low to moderate bargaining power as there are many suppliers for common materials. However, suppliers of innovative compounds may wield higher bargaining power.
Threat of new substitutes: Threat of substitutes is moderate as erectile dysfunction can be treated through lifestyle changes and alternative therapies like counseling. However, compliance to long-term use of these options is low.
Competitive rivalry: The market is highly competitive with presence of many global and local players. Companies compete based on product innovation, brand, and pricing.
Key Takeaways
The global erectile dysfunction treatment market is expected to witness high growth.
Regional analysis comprises: Europe currently has the highest erectile dysfunction drug consumption due to availability of reimbursement and higher health awareness. However, growth rates are high in Asia Pacific due to increasing cases of lifestyle diseases and improving access to healthcare services. Public awareness campaigns are increasing the treatment seeking rate especially in China and India which are projected to be the high growth erectile dysfunction treatment markets.
Key players operating in the erectile dysfunction treatment market are Mangoceuticals, Inc, Futura Medical, CURE Pharmaceutical Holding Corp, Glenmark Pharmaceuticals Ltd, Mylan Pharmaceuticals Inc., Boston Scientific, Cipla Ltd , Pfizer Inc., Coloplast CORP, Eli Lily & Co, Gust Inc, Altera, Promedon, Dr. Reddys Laboratories Ltd, Bayer Pharma AG, and Reflexonic LLC. Pfizer Inc. currently leads the erectile dysfunction drugs market with its blockbuster brand Viagra. Companies are focusing on developing novel drugs delivery systems such as topical drugs and other non-invasive options to gain market share.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
