The prevalence of erectile dysfunction has been increasing rapidly across the globe primarily due to changing lifestyles and increasing environmental pollution.
The Global Sildenafil Drug Market Growth Accelerated By Increasing Prevalence Of Erectile Dysfunction
Sildenafil drug is primarily used for treating erectile dysfunction and pulmonary arterial hypertension in men. It enhances the effects of nitric oxide, a chemical that relaxes smooth muscles in the penis during sexual stimulation. The increased blood flow allows a man to get and keep an erection firm enough for sex.
The global Sildenafil Drug Market is estimated to be valued at US$ 3.35 Mn in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
According to the Centers for Disease Control and Prevention (CDC), around 30 million American men are affected by erectile dysfunction. Moreover, aging is another major cause contributing to the rising incidence of erectile dysfunction worldwide. As per the National Institutes of Health, around 40% of men at the age of 40 and 70% of men aged 70 experience some form of erectile dysfunction.The increasing burden of erectile dysfunction driven by factors such as lifestyle changes, pollution, and aging is expected to accelerate the demand for effective treatment drugs such as sildenafil over the forecast period.
Segment Analysis
In the sildenafil drug market, the oral tablet segment is currently dominating with the highest market share. Oral sildenafil tablets account for over 85% of the total market. This is because oral tablets are the most common and widely accepted form of treatment as they are easy to administer and have good bioavailability. They provide reliable relief from erectile dysfunction symptoms within 30-60 minutes of consumption.
Key Takeaways
The Global Sildenafil Drug Market Size is expected to witness high growth between 2024 to 2031. The global Sildenafil Drug Market is estimated to be valued at US$ 3.35 Mn in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period 2024-2031.
The region of North America is currently dominating the market and is expected to continue its dominance over the forecast period. This is due to high awareness about erectile dysfunction and availability of treatment options in countries like the US and Canada. Presence of key players and high healthcare expenditure in the region also contribute to its large market share. Asia Pacific is projected to be the fastest growing region in the sildenafil drug market during the forecast period. Rapidly increasing geriatric population suffering from lifestyle diseases like diabetes is driving the demand for ED treatment drugs like sildenafil in countries like India, China, and Japan. Rising medical tourism in Asia along with improving economic conditions is also supporting the growth of the market.
Key players related content comprises
Key players operating in the sildenafil drug market are Baker Hughes Company, Schlumberger Limited, Weatherford, DIAMOCO Group, Conquest Drilling, QMax, ChemFor, Dynamic Drilling Fluids, Halliburton, Newpark Resources Inc., AES Drilling Fluids, NOV Inc., Stellar Drilling Fluids. LLC, Secure Energy, Total Energies, and Valence Drilling Fluids, LLC.
For more Insights, Read –
https://www.marketwebjournal.com/sildenafil-drug-market-market-size-share-analysis-growth/
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