by The global sildenafil drug market is led by Pfizer’s Viagra. Sildenafil is a phosphodiesterase-5 inhibitor used for treating erectile dysfunction and pulmonary arterial hypertension. It works by relaxing muscles and increasing blood flow to particular areas of the body. Sildenafil enhances the effect of nitric oxide, a chemical that relaxes smooth muscles and increases blood flow to the penis during sexual stimulation. Erectile dysfunction, commonly known as impotence, is the inability to develop or maintain an erection firm enough for sex. It can be a temporary or long-term disorder and is increasingly prevalent due to lifestyle diseases such as obesity, diabetes, and high blood pressure. The global sildenafil drug market is estimated to be valued at US$ 2.9 Bn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The sildenafil drug market is expected to be flourished by rising prevalence of erectile dysfunction. According to the Massachusetts Male Aging Study, the prevalence rate of complete erectile dysfunction is about 5% at 40 years of age and rises to approximately 15-25% among 65-70 year old males. The prevalence increases with age which would drive the sildenafil drug market growth over the forecast period. Another key driver is the patent expiration of Viagra. The patent for Pfizer’s blockbuster drug Viagra expired in several countries including the US in 2020. This allows other companies to manufacture generic versions of sildenafil at lower costs, increasing accessibility and market penetration. Viagra’s patent expiration is a significant opportunity for sildenafil drug market players to strengthen their positions and gain market share.
Segment Analysis
The global Sildenafil Drug Market Size is segmented into type and application. Based on type, the market is segmented into Tablet and Oral Jelly. Among these, the tablet segment dominates with around 85% market share in 2023. Tablet is easy to consume and most preferred format for drug consumption.
Based on application, the market is segmented into Erectile Dysfunction, Pulmonary Hypertension, and Others. The erectile dysfunction segment dominates with around 90% share due to high and widespread prevalence of erectile dysfunction worldwide.
PEST Analysis
Political: Government regulations regarding the sale and marketing of drugs for erectile dysfunction. Most countries have stringent regulations to prohibit marketing directly to consumers for such drugs.
Economic: Growing elderly population worldwide is leading to rise in lifestyle diseases like erectile dysfunction, thereby boosting market growth. However, patent expiry of blockbuster drugs may restrain the market to some extent.
Social: Social stigma still exists around discussing erectile dysfunction openly. However, improved awareness and willingness to seek treatment is driving market growth.
Technological: Advances in drug delivery systems help in improving efficacy and convenience of drugs. Research is also ongoing to develop new drugs to treat erectile dysfunction.
Key Takeaways
The global Sildenafil Drug market is expected to witness high growth. Regional analysis related content comprises Regional analysis related content
Regional Analysis
North America holds leading share of over 35% of global market due to presence of key players and high healthcare spending. Asia Pacific is fastest growing region driven by large patient pool, increasing health awareness and growing healthcare infrastructure.
Key Players
Key players operating in the Sildenafil Drug market are Pfizer, Teva Pharmaceuticals, Aurobindo Pharma, Alembic Pharmaceuticals, Torrent Pharmaceuticals, Lupin, Dr Reddy€TMs Laboratories, Zydus Cadila, Amneal Pharmaceuticals, Hetero, Apotex, Mylan, Ajanta Pharma, Sun Pharmaceutical, Cipla, Novartis, Eli Lily, Sanofi, Bayer, GlaxoSmithKline. Pfizer continues to lead the global market with over 30% share due to strong brand and distribution network for its blockbuster drug Viagra. Teva Pharmaceuticals is another leading player due to its generic versions.
