Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 3.64 Billion | USD 5.94 Billion | 6.9% | 2021 |
FrequentlyAsked Questions
With the surge in the adoption of a bad lifestyle, diabetes, obesity, and cardiovascular disease are on the rise, which in turn leads to problems like ED as people become older. The present lifestyle of youth in many emerging countries is very stressful that resulting in increased alcoholism, smoking, and fast food or ready-to-eat food consumption. Due to these factors, overall health and fitness are getting compromised which in turn increases the chances of ED. Furthermore, as the senior population grows, so does the number of ED patients, which is a significant driver of the global erectile dysfunction drugs market throughout the projection period.
According to the Zion Market Research report, the global erectile dysfunction drugs market was worth about 3.64 (USD billion) in 2021 and is predicted to grow to around 5.94 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 6.9 percent.
North America is likely to dominate the global erectile dysfunction drugs market. This is mainly due to the expanding senior population and superior healthcare infrastructure, as per a Rural Health Information Center report released in April 2019 stated that there are more than 46 million older persons in the United States, with that figure predicted to climb to about 90 million by 2050. When the last of the baby boom cohorts reach 65, the number of older individuals is predicted to climb by roughly 18 million between 2020 and 2030. Because ED is particularly frequent in men over the age of 40, the rise in the elderly male population is predicted to increase the number of individuals suffering from it.
Major players operating in the global erectile dysfunction drugs market include Eli Lilly & Co., Pfizer, Dong-A Pharmaceutical Co. Ltd, Bayer AG, Meda Pharmaceuticals, Vivus, Inc., and Apricus Biosciences.
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