Erectile Dysfunction Drugs Market Growth & Trends
The global erectile dysfunction drugs market size is expected to reach USD 4.8 billion by 2030, according to a new study by Grand View Research Inc. The market is expected to expand at a CAGR of 8.5% from 2022 to 2030. The increasing prevalence of erectile dysfunction is expected to contribute to market growth. According to the European Association of Urology, the overall prevalence of ED was found to be around 52% in the European male population aged 40–70 years in 2020. In addition, according to the Boston University School of Medicine, approximately 22.0% of 40 years aged male population and 49.0% by age of 70 years are affected by erectile dysfunction. Thus, the increasing geriatric population is anticipated to increase the prevalence of ED over the forecast period and is expected to create lucrative growth opportunities in the market.
Eli Lilly and Company is supporting ED patients by offering medicine at low cost through Lilly Patient Support Program (LPSP). This program provides financial assistance to eligible ED uninsured patients in Canada who may require registration for this program. Thus, the presence of such supportive programs for a branded version of Cialis may increase the affordability of the lower-income patient population and also aid in generating increased revenue. Moreover, companies have undertaken initiatives such as collaboration and partnership for the manufacturing and commercialization of products in the overseas market. For instance, in January 2022, Petros Pharmaceuticals Inc. partnered with a global Contract Manufacturing Organization (CDMO) for the commercial production of Avanafil tablets. This partnership was formed with an aim to replace the existing agreement with Vivus Inc. and continue product supply.
Furthermore, according to the National Library of Medicine (2021), a phase 3 clinical trial was conducted by Sichuan Haisco Pharmaceutical Co., Ltd. to evaluate the safety and efficacy of Stendra in patients with ED in mainland China. The results of the clinical trial showed improvement in Chinese ED patients after administration of two doses of Stendra 100 mg & 200 mg. Such proven clinical effectiveness may strengthen Strenda’s (Avanafil) position in the market. However, lack of awareness about erectile dysfunction, shame about treatment, false-positive beliefs, social stigma pertaining to the disease, and lack of discretion may restrain the market growth. As per the survey conducted by the European Association of Urology (EAU), only 18% of the Spanish population heard about ED treatment, whereas 68.0% of the population believes the treatment benefits.
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Erectile Dysfunction Drugs Market Report
Erectile Dysfunction Drugs Market Report Highlights
- By product, the viagra segment held the largest market share in 2021 due to the worldwide availability of Viagra and increased awareness about the product among ED patients
- The Cialis segment held the second largest market share in 2021 due to strategic initiatives undertaken by key companies for the development and commercialization of Cialis. In March 2022, the Saudi Chemical Co. Holding (SCCH) acquired Eli Lilly’s Cialis brand in Saudi Arabia
- Asia Pacific is expected to be the fastest-growing region during the forecast period. The growth of the region is attributable to the entry of new products into the region. For instance, in July 2021, Menarini Asia-Pacific Holdings Pte. Ltd acquired Eli Lilly’s Cialis in China
