Sexual dysfunction is becoming common among adults, which results in reduced sexual functioning. The rate of occurrence of sexual dysfunction has increased; for example, erectile dysfunction (ED) is higher among older men. In ED, erection level in men drops due to weakened pensile muscles, which leads to unsatisfactory sex life. This increases the demand for sexual dysfunction drugs, stimulating the growth of the market.
Erectile dysfunction, also called as impotency, chronic diseases, such as, cardiovascular diseases, diabetes, neurological disorders, side effects of drugs and hormonal deficiency are some of the factors behind ED. Moreover, sexual dysfunction may arise due to smoking, excessive alcohol intake, obesity, psychological problems, and lack of pensile blood supply. Erectile dysfunction can be addressed with a variety of interventions, such as, changes in lifestyle habits, reduction in alcohol intake, erection devices, smoking cessation, pharmacotherapy, drug injections, and other penile implants.
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Global demand for sexual dysfunction drugs is rapidly increasing due to rise in incidence of chronic diseases, which includes hypertension, diabetes, psychological disorders, and neurogenic disorders. Furthermore, growth in aging population is directly proportional to the upsurge in prevalence of sexual problems; besides changes in lifestyle habits among the younger population are anticipated to increase the demand of sexual dysfunction drugs in the near future.
Rise in awareness among people regarding sexual health and initiatives taken by health care professionals and government are some of the other factors which are expected to boost the global sexual dysfunction drugs market during the forecast period. Generic drugs and novel delivery drug techniques are anticipated to provide growth opportunities to the market.
Additionally, pipeline drugs, which are under various stages of development or waiting for approval by government and health care organizations, are projected to drive the market in the near future. However, despite rise in demand for sexual dysfunction drugs globally, the market is anticipated to decline in some regions due to patent expiration of some of the major brands. This, however, is expected to provide golden opportunity to generic drug manufacturers to enter the market. Side effects associated with these drugs and increase in cost of treatment are the other factors which are anticipated to hamper the growth of the sexual dysfunction drugs market.
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The global sexual dysfunction drugs market is coming up with novel techniques to develop new products. Top companies are adopting new approaches to create awareness about new products among stakeholders and consumers. The global sexual dysfunction drugs market can be divided based on product type, distribution channel, and region. In terms of product type, the market can be classified into oral medications, topical medications, and injections & others. Based on distribution channel, the market can be categorized into hospital pharmacies, retail pharmacies, and online pharmacies.
Geographically the global sexual dysfunction drugs market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The global market is dominated by North America due to high demand for sexual dysfunctional drugs, well-established health care infrastructure with better reimbursement policies, and high acceptance of popular brands in the region. Following North America, Europe and Asia Pacific are estimated to dominate the global sexual dysfunction drugs market during the forecast period.
The market in Europe is estimated to experience rapid growth due to brand loyalty, existence of key players with differential offerings in the region, and high investment in research and development by pharmaceutical companies. Key players in the global sexual dysfunction drugs market are focusing on developing countries, as they exhibit positive growth due to growth in geriatric population, increase in disposable income of people, favorable patient demographics, rise in awareness in sexual diseases, and quick availability of generic drugs.
Key players operating in the global sexual dysfunction drugs market are Bayer AG, Eli Lilly and Company, Pfizer, Inc., and Apricus Biosciences Inc.