Erectile dysfunction is defined as inability to achieve or maintain erection during copulation
Erectile Dysfunction Treatment Market: Introduction
· Erectile dysfunction (ED) is a common sexual problem that men report to their doctor. It affects as many as 30 million men in the U.S. alone.
· Erectile dysfunction is defined as inability to achieve or maintain erection during copulation
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· The problem is age related and can be caused due to diabetes, kidney disease, prostate cancer, high blood pressure, and physical injury to the prostate, penis, and pelvis
· Emotional and psychological issues such as depression, stress, and anxiety can also cause erectile dysfunction. Additionally, intake of prescription medications such as antidepressants, opioid painkillers, chemotherapeutic agents, hormone drugs, amphetamines, and some sleeping pills can lead to this condition.
Key Drivers, Restrains, and Opportunities of Global Erectile Dysfunction Treatment Market
· Rise in number of individuals experiencing erectile dysfunction is a major factor contributing to the growth of the global erectile dysfunction treatment market. According to estimates, 1 in 10 men suffers from ED globally. In the U.S. alone, over 30 million men suffer from ED and the number is expected to rise in the next few years. Globally, men aged between 20 and 29 have around 65% chance of having ED compared to older men aged 75 years and above, who have 77.5% probability of having ED.
· According to the World Health Organization (WHO), the world’s population aged 60 years and older is expected to reach 2 billion by 2050, up from 900 million in 2015. Presently, 125 million people are aged 80 years or older. By 2050, there will be nearly this many (120 million) living in China alone, and 434 million people in this age group worldwide. By 2050, 80% of all elderly people will live in low- and middle-income countries. The exponential rise in the geriatric population is anticipated to increase the number of patients suffering from ED, which in turn is projected to drive the erectile dysfunction treatment global market.
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· Rise in the number of individuals with diabetes is also a key factor contributing to the growth of the global erectile dysfunction treatment market. Nearly 35% to 75% men suffering from diabetes experience some degree of ED.
· According to the International Diabetes Federation (IDF), nearly 463 million adults (20 to 79 years) were living with diabetes in 2019 and the number is anticipated to reach 700 million by 2045
· Patients suffering from ED are reluctant to seek treatment or even visit a doctor. This factor restrains the global erectile dysfunction treatment market. Generally, ED is considered a physical problem, and could also be caused due to poor psychological health. Most patients suffering from erectile dysfunction do not choose treatment options. This is a direct result of the social stigma associated with erectile dysfunction.
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North America to Capture Major Share of Global Erectile Dysfunction Treatment Market
· North America is expected to account for major share of the global erectile dysfunction treatment market due to high awareness among men about the disorder and launch of new products by pharmaceutical companies for the treatment of ED. Moreover, well-established health care infrastructure and hub for key industry players are the major drivers of the erectile dysfunction treatment market in the region.
· The erectile dysfunction treatment market in Asia Pacific is likely to grow at a rapid pace during the forecast period owing to rise in prevalence of ED because of increase in geriatric population in the region. Moreover, growing generic drugs industry in Asia Pacific is likely propel the market in the region.
Key Players Operating in Global Erectile Dysfunction Treatment Market
The global erectile dysfunction treatment market is highly fragmented due to the presence of large number of players. A number of these players hold major share in their respective regions. Growth strategies adopted by leading players are likely to drive the global erectile dysfunction treatment market.
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Major players operating in the global erectile dysfunction treatment market are:
· Bayer AG
· Eli Lilly and Company
· Viatris Inc.
· Pfizer, Inc.
· Cipla Ltd.
· Aurobindo Pharma Ltd.
· Novartis AG
· Torrent Pharmaceuticals Ltd.
· Dr. Reddys Laboratories Ltd.
· S.K. Chemicals Co. Ltd.
· VIVUS, Inc.
· Ferring B.V.
· GlaxoSmithKline plc
· Petros Pharmaceuticals, Inc. (Metuchen)
· Other Players
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