Erectile dysfunction drugs are among the most popular remedies utilized against erectile dysfunction. Due to the rising prevalence of erectile dysfunction (ED), due to genetic as well as environmental factors, the global market for various remedies countering ED has grown in recent decades. However, in the coming years, the cumulative effect of the most influential factors affecting the global erectile dysfunction drugs market is expected to be negative, as the global market is expected to witness a -4.50% CAGR from 2013 to 2019. The market is expected to drop from a value of US$4.3 bn in 2012 to US$3.4 bn by 2019.
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Rising Usage of Counterfeits/Generics Hampers Erectile Dysfunction Drugs Market
The prospects of the global market for erectile dysfunction drugs in the coming years are primarily hampered by the impending patent expiries of major drugs in the market. This will lead to a proliferation of generic as well as counterfeit ED drugs in the coming years.
Another major restraint on the global erectile dysfunction drugs market is the reduction in insurance coverage for ED drugs in recent years. The price difference between generic drugs and patented drugs and the absence of sufficient insurance coverage will collectively severely restrain the global erectile dysfunction drugs market.
Rising Geriatric Population could Benefit Global ED Drugs Market
Even though the market for erectile dysfunction drugs is expected to reduce in valuation over the coming years, there are several factors that could sustain the market. Among these, the growing population of the elderly around the world is a major market driver. Since the risk of erectile dysfunction grows with age, the geriatric population comprises a major consumer segment of the erectile dysfunction drugs market.
The rising prevalence of a sedentary lifestyle, which increases the chances of erectile dysfunction, is another factor that could aid the erectile dysfunction drugs market in the coming years. Since a significant part of the global population works at desk jobs, this could become an influential factor in the trajectory of the global erectile dysfunction drugs market in the coming years.
North America to Lead Global Erectile Dysfunction Drugs Market
The global market for erectile dysfunction drugs is segmented into North America, Europe, Asia Pacific, and Rest of the World according to geography. Among these, the North America market for erectile dysfunction drugs emerged as the leading regional segment of the global market, due to a large user base of consumers aware of the benefits and risks of erectile dysfunction drugs. The widespread prevalence of a sedentary lifestyle and the high geriatric population in this region, due to widespread industrialization and the availability of high-quality medical facilities, are also beneficial for the erectile dysfunction drugs market.
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Viagra is the leading product in the erectile dysfunction drugs market and is expected to remain the leading contender in spite of the expiration of its patent outside the U.S. However, in the U.S., Viagra is expected to remain the leading product in the near future, since its patent exclusivity in the U.S. has been extended to 2020.