The world is fighting a health pandemic. The novel coronavirus casts its long shadow over economies across the world. The lockdown situation in several countries has directly impacted many industries, including the drug market of ED medications, causing a shift in activities like supply chain operations, product commercialization, etc.
In the latest report on erectile dysfunction (ED) medications market by market research, numerous aspects have been considered and have been put together to bring you pre and post Covid-19 analysis. The analysts are keeping a close watch, especially on the growth and decline in each sector due to the pandemic, to bring you with quality services required for a successful business. The study analysis holds information according to the driving factors, detailed competitive analysis, about the market and details regarding the opportunities that are available to the industry players to reduce the risks in such situations.
The report gives an idea of key aspects of the global erectile dysfunction drug market 2020. With this report, the market analysts have provided us with a complete overview of growth drivers, trends, challenges, restraints, and opportunities to give us detailed information about the erectile dysfunction treatment drug market. The market analysis can be especially useful for business people as they can plan effective strategies and prepare to face challenges in the future. Each trend in the global market of ED medications has been analyzed carefully and investigated by market experts.
The global market for erectile dysfunction drug market is expected to permit a CAGR of nearly 3.5% during the forecast period. According to market research, factors such as increasing cases of erectile disorders, geriatric population, expiry of patents of popular medications and better drug development as major factors responsible for increasing growth of ED drug industry. Growth in a sedentary lifestyle, alcoholism, and smoking, vigorously increases the risk of erectile diseases in men. Adoption of poor lifestyle habits will increase the growth of ED medications market. Other factors that cause a push in the growth of global erectile dysfunction drug market include a growing number of campaigns by government and other organizations across the work to make men aware regarding erection problems. According to several research studies, arise in ED cases is also associated with the increased risk of certain medical conditions such as diabetes, obesity, and cardiovascular problems. Ed could also be a marker for coronary artery disease or CAD. Studies found the onset of erection problems preceded the onset of CAD in about two-third cases. High blood pressure is another illness associated with the onset of ED. According to a study report, approximately 65 million people in the US suffering from hypertension, which could indicate growth in erectile dysfunction causes. Also, the growing number of patients suffering from heart diseases contributes to the rapid growth of ED patients. The rise in the growth of ED patients leads to more patients seeking ED treatment which in turn boost the erectile dysfunction drug market during the forecast period.
The global market of erectile dysfunction drug has been segmented into tadalafil, vardenafil, sildenafil, avanafil, and others. Viagra or Kamagra gold has a huge market as it was the first ED treatment drug approved by the FDA in 1998. Tadalafil, which makes a better impact on the drug market of ED drug in terms of growth, as the ED drug has a long action span when compared to Viagra. The retail ones are expected to benefit from the easy availability of medications.
By end-user, the market for EDmedications has been divided into retail pharmacy, hospital pharmacy, and online drug stores. Hospital pharmacies are expected to gain more in terms of growth.
Ignorance of patients to seek treatment to delay the growth of Erectile Dysfunction Drug Market
Erectile dysfunction or ED is a physical problem, and it may occur due to poor psychological health. Majority of patients suffering from erection problems do not seek treatment, and reasons could be their hesitation; they might not get their problem to get exposed to anyone. This might be a result of a social stigma associated with having ED. Erectile disorder affects a huge number of populations. Restrictive attitudes of men to open about their sexual health associated with lack of education, social status, and work experience. Due to these factors, ED sufferers do not take medical help and hence restrict the growth of the ED market.
The growing awareness regarding erectile dysfunction is expected to enhance market profit. The US drug industry dominates the market of ED medications due to the presence of major drug companies and the adoption of a variety of new technologies to treat the condition. Increase in population and rising awareness play in favor of the market.