Sildenafil Drug Market
New York, November 2023: According to a new research study by Global Insight Services (GIS), the Sildenafil Drug Market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 4.5 billion by 2032.
Sildenafil is a PDE5 inhibitor that is used to treat erectile dysfunction (ED) and pulmonary arterial hypertension (PAH). It improves blood flow to the penis, allowing it to attain and sustain an erection, making it an effective impotence therapy.
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Global Sildenafil Drug Market: Market Drivers and Trends
Erectile dysfunction (ED) is becoming more common: Erectile dysfunction (ED) is becoming more common across the world. According to statistics, 30-40% of men have ED by the age of 40. The expanding senior population and age-related health conditions are adding to the patient pool. The large unmet demands of ED patients are projected to fuel sildenafil medication demand in the next years. With increased ED therapy awareness and acceptability, patient usage of sildenafil is anticipated to rise.
Patent expiration leads to the release of generics: The patent expiration of branded sildenafil medications such as Viagra has resulted in the release of generic equivalents by several pharmaceutical firms. The reduced cost of generics in comparison to branded counterparts is increasing their popularity. To gain market share, companies are concentrating on producing generic sildenafil formulations. The advent of generics has made ED therapy more accessible and inexpensive, propelling the sildenafil medication industry forward.
Global Sildenafil Drug Market: Market Restraints and Challenges
Side effects and safety concerns: Sildenafil use has been linked to headaches, flushing, vision abnormalities, back discomfort, and gastrointestinal difficulties. There have also been occasional reports of major side effects such as hearing and vision loss. Concerns about harmful effects restrict the widespread use of sildenafil medicines. This needs thorough monitoring and care during therapy. Providers frequently avoid providing sildenafil to patients who have specific medical issues, which impedes progress.
Social stigma connected with ED: The social stigma and humiliation associated with sexual illnesses such as erectile dysfunction sometimes deter people from seeking medical help. Many individuals are reluctant to discuss sexual issues with their doctors. The stigma reduces the number of patients who are diagnosed and treated with sildenafil. Efforts to raise knowledge and sensitize the public about ED will assist in alleviating this constraint.
Global Sildenafil Drug Market Report Findings
The branded drugs segment is likely to hold the major share of the market in 2022
Based on drug type, the Sildenafil Drug is segmented into branded drugs, generic drugs, and over the counter drugs. The branded drugs segment is expected to dominate the market during the forecast period.
The erectile dysfunction segment is likely to hold the major share of the market in 2022
By indication, the market is classified into erectile dysfunction, pulmonary arterial hypertension, benign prostatic hyperplasia, and others. The erectile dysfunction segment dominated the market in 2022 in terms of revenue and is expected to dominate the market during the forecast period.
The hospital pharmacies segment is likely to hold the major share of the market in 2022
Based on distribution channel, the Sildenafil Drug is segmented into hospital pharmacies, retail pharmacies, online pharmacies, and others. In 2022, the hospital pharmacies segment dominated the market in terms of revenue and is expected to be the same during the upcoming years.
The tablets segment is likely to hold the major share of the market in 2022
Based on dosage form, the Sildenafil Drug is segmented into tablets, oral jellies, injections, and others. The tablets segment is expected to dominate the market during the forecast period.
The North America region is accounted for the majority of market share in 2022
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America has the biggest market share in terms of Sildenafil Drug value followed by Europe North America’s market development is attributable to high ED awareness, simple availability and access to ED medications, and the presence of key companies in the area. The European market for Sildenafil Drug Market is predicted to be the second largest. The expanding elderly population, increasing frequency of chronic conditions, and the introduction of new generic ED medications are driving market expansion in Europe. During the projected period, the Asia Pacific market is likely to be the fastest-growing market for Sildenafil Drug Market. The Asia Pacific market is booming due to an increasing patient population, increased healthcare spending, and an increase in online sales of ED medications.
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The key players studied in the global Sildenafil Drug Market are Pfizer, Teva Pharmaceuticals, Aurobindo Pharma , Alembic Pharmaceuticals , Torrent Pharmaceuticals , Lupin, Reddy’s Laboratories, Zydus Cadila, Amneal Pharmaceuticals, and Hetero among others.
Global Sildenafil Drug Market: Recent Developments
- In October 2022, Hetero and Biophore formed a strategic alliance to launch Sildenafil tablets in the United States. The partnership paired Biophore’s R&D skills with Hetero’s global reach of more than 100 nations.
- In January 2022, Sildenafil pills, a generic version of Viagra, received FDA approval, expanding the company’s generics range in the US.
- In June 2021, Following FDA permission, Aurobindo Pharma introduced Sildenafil pills. In the US market, the medicine is believed to aid people suffering from erectile dysfunction.
- In April 2021, Dr. Reddy has bought Eton Pharmaceuticals ‘EM-104, a novel oral suspension formulation of Sildenafil. The acquisition broadened Dr. Reddy’s product range in the male health sector in the United States.
- In March 2020, Lupin announced the introduction of Sildenafil pills after getting FDA clearance. The product broadened the company’s portfolio in the generics market in the United States.
- January 2020, Cipla purchased Exelan’s sildenafil products used to treat pulmonary arterial hypertension (PAH) in more than 15 countries. Cipla’s worldwide respiratory product portfolio was enhanced because of the purchase.
Global Sildenafil Drug Market Report Coverage
- The report offers a comprehensive quantitative as well as qualitative analysis of the current global Sildenafil Drug Market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
- A thorough analysis of market trends and restraints is provided.
- Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
- The forecasts in this report are made by examining the recent trends along with future global Sildenafil Drug Market potential from 2022 to 2032 in terms of revenue ($ Million), and Volume (Units).
- Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the global Sildenafil Drug Market are also analyzed.
- Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global Sildenafil Drug Market industry.
Global Sildenafil Drug Market Segmentation
By Drug Type
- Branded Drugs
- Generic Drugs
- Over the Counter Drugs
- Erectile Dysfunction
- Pulmonary Arterial Hypertension
- Benign Prostatic Hyperplasia
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By Dosage Form
- Oral Jellies
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- Middle East
- Teva Pharmaceuticals
- Aurobindo Pharma
- Alembic Pharmaceuticals
- Torrent Pharmaceuticals
- Reddy’s Laboratories
- Zydus Cadila
- Amneal Pharmaceuticals