Sildenafil is often sold under the brand name Viagra among others. It is used to treat erectile dysfunction and pulmonary arterial hypertension. Sildenafil enables an erection sufficient for sexual intercourse by enhancing the effect of nitric oxide, a chemical that relaxes smooth muscles in the penis during sexual stimulation, allowing increased blood flow. The growing awareness about treating erectile dysfunction and benefits of using pharmaceutical drugs has boosted the growth of sildenafil drug market.

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 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics

Rising prevalence of erectile dysfunction across globe is one of the major driver of sildenafil drug market. As per estimates by National Institute of Diabetes and Digestive and Kidney Diseases, around 30 million men in the U.S. have some form of erectile dysfunction. Prevalence tends to increase with age and it has been found that around 5% of men experience erectile dysfunction at age 40, 15% at age 65 and over 25% at age 80. This large patient pool seeking treatment is fueling the market growth of sildenafil drugs. Another driver is the patent expiration of Viagra which has enabled entry of low cost generic versions and intensified competition, making treatment more affordable. This has further augmented the demand and consumption of sildenafil drugs especially in developing regions.

SWOT Analysis

Strength: Sildenafil drug market has a large patient pool of erectile dysfunction patients globally. The drug offers effective treatment for ED and has proven efficacy. Being an established drug, it faces low development risks with high entry barriers for competitors.

Weakness: The market faces intense competition from generic manufacturers and alternate treatment options. Patent expiration of branded versions also impacts revenues of major players.

Opportunity: Emerging economies offer high growth potential owing to increasing healthcare spending and large undiagnosed population. New delivery systems andfixed-dose combinations with other drugs can boost the market size.

Threats: Stricter regulations and compliance norms may lead to delays in new product approvals. Safety issues or misuse of the drug can impact brand image negatively.

Key Takeaways:

The Global Sildenafil Drug Market Growth is expected to witness steady growth supported by rising ED prevalence, growing healthcare expenditure and availability of generic versions. The market size is estimated to reach a value of US$ 2.9 Billion by 2023 expanding at a CAGR of 6.3% during the forecast period.

Regional analysis

The Asia Pacific region dominates the global market and is projected to witness the fastest growth over the next decade. Increasing geriatric population, growing health awareness and improved access to healthcare are some key factors driving the APAC sildenafil drug market. China, India and Japan collectively account for over half of the total regional revenues owing to their huge patient bases and focus on erectile dysfunction treatment. North America is another major region for sildenafil drug makers owing to high healthcare spending and volume sales in the US.

Key players

Key players operating in the sildenafil drug market are Synutra Inc., Darling Ingredients Inc., Archer Daniels Midland Company, BASF SE, Koninklijke DSM NV, Foodchem International Corporation, Glanbia PLC, Holista, Colltech Ltd, ESM Technologies LLC, Bergstorm Nutrition Inc., and Gelita AG. Key players are focused on product development, strengthening distribution networks and adopting generic strategies to increase market share.

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