Major players in the erectile dysfunction (ED) drugs market are Eli Lilly and Co. , Pfizer, Bayer AG, Dong-A Pharmaceutical Co. Ltd and Vivus. The global drugs for erectile dysfunction market is expected to grow from $3.
New York, May 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Drugs For Erectile Dysfunction Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06067867/?utm_source=GNW
76 billion in 2020 to $4.99 billion in 2021 at a compound annual growth rate (CAGR) of 32.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $5.97 billion in 2025 at a CAGR of 4.6%.
The erectile dysfunction (ED) drugs market consists of sales of erectile dysfunction (ED) drugs and related services. Erectile dysfunction is the inability to achieve or keep up penile erection in men.
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, according to a survey conducted by Opinium Research in February 2020, just 27% out of the total 2,006 men surveyed were aware that erectile dysfunction could be linked to high blood pressure or elevated cholesterol while just 22% men surveyed were aware that erectile dysfunction is often associated with diabetes. These factors restrain the growth of erectile dysfunction drugs market.
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.
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.
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 2019, Futura Medical, an UK based healthcare company, announced the development of a gel product, named MED2005 as a therapeutic treatment for erectile dysfunction.
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