Erectile Dysfunction Drugs Market to Touch US$ 2.87 Billion by 2026; Introduction of Generic Substitutes to Support the Market, Says TMR
ALBANY, New York, December 13, 2018
ALBANY, New York, December 13, 2018 /PRNewswire/ --
According to TMR analysts, the global erectile dysfunction drugs market is likely to decline at a 3.2% CAGR over the forecast period 2018 to 2026. The market was estimated to be worth US$4.35 Bn in 2016 and is prognosticated to reach a value of US$ 2.87 Bn by 2026.
Based on the product, Viagra segment led the global erectile dysfunction drugs market until the beginning of the forecast period. The expiry of the patent dealt a severe blow to the segment's dominance, and this trend is expected to affect the business in the coming years.
Geography-wise, North America dominated the overall market owing to higher awareness and availability of branded formulations.
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Improved Distribution Channels to Boost Growth
With retail pharmacies witnessing a revolution in their processes, management, and size, the global market for erectile dysfunction drugs is likely to be spurred. Retail pharmacies are now getting bigger and better with efficient software, skilled workers, and high competition. Chains of retail pharmacies offering drugs at competitive costs are luring in consumers. This boom in retail pharmacy chains is expected to bode well for the global erectile dysfunction market over the forecast period.
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Entry of Generic Drugs to Emerge as Leading Market Trend
Viagra, the most popular drug for erectile dysfunction, will go off patent in 2020. This is expected to cause a severe downfall in the global market. However, vendors are now endorsing generic drugs for the same. In 2013, Teva Pharmaceuticals, leading generic drug manufacturer, entered into a settlement with Pzifer for production of the generic version of Viagra.
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Additionally, the generic medicines for Cialis and Levitra, are expected to be boost the global erectile dysfunction drugs market over the coming years. These drugs are expected to be cost efficient, leading to higher acceptance by users.
The global erectile dysfunction drugs market features a highly consolidated vendor landscape, as reported by Transparency Market Research (TMR). The market is expected to see a decline over the coming years on account of loss of patent exclusivity. There exist a few leading manufacturers who currently hold substantial shares in the global market. Due to high unmet needs of the consumers, vendors are expected to focus primarily on research on development of quality products. The manufacture of drugs with little or side-effects, and with improved results, is expected to be a key focus are for vendors in the global erectile dysfunction drugs market.
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Vendors are also seen adopting other organic and inorganic methods to gain momentum in the international market. Strategies such as mergers and acquisitions, geographical expansion, and collaborations will be adopted by market players to leverage the industry potential.
The top vendors operating in the global erectile dysfunction drugs market are Bayer AG, Pzifer Inc., VIVUS Inc., Eli Lilly and Company, and Dong-A ST Co., Ltd. These players are also involved in the launch of novel products in the coming years.
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The study presented here is based on a report by Transparency Market Research (TMR) titled, "Erectile Dysfunction (ED) Drugs Market (Drug - Viagra, Cialis, Staxyn/Levitra, Stendra/Spedra; Distribution Channel - Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) - Global Industry Analysis, Pipeline Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026."
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