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Drugs For Erectile Dysfunction Market - Exploration Trends, Analysis, Growth Prospects And Forecast 2033
Drugs For Erectile Dysfunction Market
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According to The Business Research Company's, The drugs for erectile dysfunction market size has grown marginally in recent years. It will grow from $4.12 billion in 2023 to $4.17 billion in 2024 at a compound annual growth rate (CAGR) of 1.2%. The growth in the historic period can be attributed to introduction of pde5 inhibitors, pharmaceutical marketing and advertising, changing societal attitudes, rise in lifestyle-induced ed cases, generic medication availability.
The drugs for erectile dysfunction market size is expected to see marginal growth in the next few years. It will grow to $4.46 billion in 2028 at a compound annual growth rate (CAGR) of 1.7%. The growth in the forecast period can be attributed to focus on mental health integration, shift in consumer preferences, market expansion in emerging economies, regenerative medicine exploration, biopharmaceutical innovations. Major trends in the forecast period include development of novel therapies, increasing awareness and education, lifestyle changes and health awareness, telemedicine and online consultations, innovative delivery systems.
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Market Drivers and Trends:
The drastic increase in the number of chronic diseases drives the erectile dysfunction drug market. Erectile dysfunction is mainly caused by chronic diseases resulting from a sedentary lifestyle such as cardiovascular diseases, diabetes, obesity, and high blood pressure. For instance, in September 2023, the World Health Organization (WHO) reported that chronic diseases kill 41 million people each year, equivalent to 74% of all deaths globally . Prevalence of chronic diseases increases the chances of erectile dysfunction among men, thereby driving the erectile dysfunction drug 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 the erectile dysfunction drug market. For example, In September 2022, Lupin, an India-based pharmaceutical company launched Sildenafil for oral suspension, 10 mg/mL with the approval of the United States Food and Drug Administration (FDA). This drug is for erectile dysfunction with unique dosages.
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Major Key Players of the Market:
Pfizer Inc., Johnson & Johnson Services Inc., Bayer AG, Sanofi S.A., GlaxoSmithKline plc, Eli Lilly and Company, Teva Pharmaceutical Industries Ltd., Boston Scientific Corporation, Sun Pharmaceutical Industries Limited, Coloplast A/S, Cipla Limited, Endo International plc, Lupin Limited, Glenmark Pharmaceuticals Limited, S.K. Chemicals Co. Ltd., Dong A Pharmaceutical Co. Ltd., Zephyr Surgical Implants, Seelos Therapeutics Inc., Premedon, Meda Pharmaceuticals Inc., Futura Medical plc, Augusta Medical Systems LLC, Vivus Inc., Apricus Biosciences Inc., Bonro Medical Inc., Cristalia Produtos Quimicos Farmaceuticos Ltda., Post-T-Vac Medical Inc., Adamed Pharma SA, Produtos Quimicos Farmaceuticos Ltda., Metuchen Pharmaceuticals LLC, Revive Pharmaceuticals Pvt. Ltd., Viatris Specialty LLC
Drugs For Erectile Dysfunction Market 2024 Key Insights:
• The drugs for erectile dysfunction market size is expected to see marginal growth in the next few years. It will grow to $4.46 billion in 2028 at a compound annual growth rate (CAGR) of 1.7%.
• Chronic Diseases Drive Growth Of Erectile Dysfunction Drug Market
• Innovative Drug Delivery Techniques Enhance The Erectile Dysfunction Drug Market
• North America was the largest region in the erectile dysfunction (ED) drugs market in 2023
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