The global erectile dysfunction market size will be valued at USD 4.7 billion by 2026. The APAC region is projected to grow at the highest CAGR during 2021–2026 due to the increase in the aging population and high incidence of diabetes, hypertension, and cardiovascular diseases. The global erectile dysfunction market is expected to observe a negative growth during the forecast period because of the decline in revenue from the ED therapeutics segment. The presence of several generic companies and the patent expiry of blockbuster ED drugs, including Viagra, Cialis, and Levitra, are expected to hamper ED drugs' growth. However, the overall market is expected to benefit from the steady growth observed in ED devices. The non-invasive nature and no adverse effects profile of shock wave therapy are the primary factors influencing the ED device market's growth. The increasing focus of vendors in manufacturing new innovative technologies such as vibrators and magnetic therapy for the management of ED is further boosting the ED devices market. The introduction of magnetic therapy for the treatment of ED is likely to drive the demand for ED devices. However, the outbreak of the COVID-19 pandemic and hospitals' unavailability for penile implantations hindered the ED devices market in 2020. Nevertheless, a high incidence of the disease followed by the wide availability of generic medications and advanced technological advances in ED devices are likely to boost the market during the forecast period.
- The ED devices segment is expected to grow at the highest CAGR during the forecast period because of the increase in the adoption of penile implants, vacuum constriction devices, and shock wave therapies.
- Retail pharmacies are projected to touch revenue figures of over $1.7 billion by 2026 due to the increased accessibility and penetration of these stores.
- North America is likely to reach a $1.5 billion revenue by 2026, owing to the high prevalence of erectile dysfunction in the US population.
- The APAC region is projected to grow at the highest CAGR during 2020–2026 due to the increase in the aging population and high incidence of diabetes, hypertension, and cardiovascular diseases.
GLOBAL ERECTILE DYSFUNCTION MARKET SEGMENTATION
This research report includes a detailed segmentation by
INSIGHTS BY PRODUCTS
Erectile Dysfunction (ED) drugs occupy the major share of the ED drugs market due to physicians' high recommendations and high efficiency. The advent of topical formulations and innovations in minimal invasive penile suppositories is likely to boost the market during the forecast period. Oral drugs consist of PDE-5 inhibitors, which are considered as the first-line treatment option by physicians for the treatment of ED. However, the oral drug sub-segment is experiencing a negative CAGR due to the loss of patent protection.
ED devices are anticipated to grow at a CAGR of over 3% during the forecast period. The growth can be attributed to increased innovations in ED devices. Penile implants constitute the majority of share in the ED devices segment. Furthermore, the non-invasive nature and no adverse effects profile of shock wave therapy is a primary factor driving the ED devices market. The increasing focus of vendors in manufacturing new innovative technologies such as vibrators and magnetic therapy for the management of ED also influences the growth. The Introduction of magnetic therapy for treating the disease is also likely to boost the device market in the future. However, the COVID-19 outbreak and hospitals' unavailability for penile implantations or surgeries hampered growth in 2020.
INSIGHTS BY DRUGS
Oral drugs are found to be more effective and safe drugs and are considered first-line therapy in the treatment of ED. Hence, these drugs account for over 94% share of the market. Innovations in oral PDE-5 inhibitors include novel oral transmucosal drug delivery through oral dispersive tablets, or oral dispersible film is expected to boost market growth during the forecast period. The high prevalence of vascular and chronic diseases such as diabetes, hypertension, psychological disorders, etc., is likely to influence segment growth.
An increase in the failure rates of oral medications for ED, which are as high as 60% in some patient populations, and increasing efficacy of injectable medication are important factors driving patients to opt for penile injections. Intracavernosal injections are considered as an alternative for oral PDE-5 inhibitors due to increasing effectiveness and sufficient erection. Penile injections are preferable for patients that are contraindicated for oral PDE-5 inhibitors or intolerable to oral medications, reliable rigidity, and rapid onset of erection. However, complications with penile injections such as priapism, failures to respond to intracavernosal or intraurethral injections, and increased efficacy of oral medications limit the growth of penile injections.
INSIGHTS BY DEVICES
Based on device type, penile implants dominate the device market, accounting for over 49% shares, followed by VCD (vacuum constriction devices) and shockwave therapy. Penile implantations are recommended when the patient fails to respond via oral PDE-5 inhibitors or penile injections. Although penile implantations are considered the last option by physicians, their demand increases due to the high efficacy of up to 90% satisfactory erection among patients. However, malfunctioning, erosions, infections, lack of medical expertise about implantation, and the high cost of implants are expected to hamper the growth of penile implantations.
Vacuum constriction devices (VCD) accounted for over 39% of the global erectile dysfunction devices market in 2020. These devices are experiencing growth owing to their non-invasive nature and high patient satisfaction. Over 90% of the patient population experienced successful erectile function with VCD, thereby boosting the market growth. North America dominates ED devices' usage due to the high accessibility to healthcare infrastructure, high prevalence of ED disorder, and increasing chronic health disorders. Furthermore, APAC is also observed to have increased growth due to an increase in disease awareness.
INSIGHTS BY DISTRIBUTION
Retail pharmacies account for the largest share of the global ED drugs market. Retail pharmacies are considered major centers to procure medicines. Easy access to medicines and the availability of generic ED drugs via retail pharmacies increase the market share of retail pharmacies. Hospital pharmacies constituted over 33% shares in the market. The growing awareness of erectile dysfunction and other sex-related disorders has highly increased the revenue of hospitals. Developed countries are the major contributors to hospital pharmacies as patients prefer prescribed medication for ED. However, hospital pharmacies experienced negative growth in 2020 due to the outbreak of the COVID-19 pandemic.
Online portals play a major role in delivering erectile dysfunction drugs. Ease access to medications and decreased social stigma regarding sexual dysfunctions are major factors leading to segment growth. The accessibility of online portals by pharmaceutical companies such as Pfizer, Cipla providing ED medication through CiplaMed and Viagra website increases patient treatment preference. Online portals experienced higher growth in 2020 than retail pharmacies and hospital pharmacies due to the COVID-19 pandemic, which increased the online purchase of medicines.
INSIGHTS BY GEOGRAPHY
The increasing focus on strategic agreements and collaborations is driving the North American ED market. The region accounted for shares of around 37% of the total erectile dysfunction market share. Factors contributing to the growth include better access to erectile dysfunction prescription and generic drugs, reimbursement coverage for surgeries in ED, better healthcare infrastructure, increase in R&D innovations, high demand for ED drugs are likely to drive the market. The US is a major contributor to the North America region, accounting for over 90% of the market share. Approximately 18 million men are affected by erectile dysfunction in the US. With the increase in chronic diseases, the incidence of ED is growing. Over 50% and 51.3% of people with cardiovascular diseases and diabetes, respectively, are likely to experience erectile dysfunction.
INSIGHTS BY VENDORS
The global ED drugs market is observed to be oligopoly in nature, wherein only a few sellers occupy the dominant market share. Pfizer, Eli Lilly and Company, Bayer, Teva Pharmaceuticals, Viatris, Dong-A-Socio Holdings, and Vivus are the key players offering oral ED drugs. Although the blockbuster oral drugs of ED lost their patent protection, the drug market is expected to witness sustainable growth due to the high availability of generic versions. Branded drugs offered by global players are introduced as generic drugs for treating ED. The competitiveness among vendors is significantly high because of the accessibility to a wide range of low-cost generic drugs and OTC topical drug formulations for treating ED. Companies whose patents expired are expected to face strong competition from vendors offering generic drugs, topical creams, and non-invasive options.
The global erectile dysfunction market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
Segmentation by Products
- Route of Administration
- Oral Drugs
- Topical Formulation
- Penile Injections & Suppositories
- Hospital Pharmacies
- Offline Retail Pharmacies
- Online Channels
- Penile Implants
- Vacuum Therapy Devices
- Shockwave Therapy
- North America
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa