by Sildenafil, an oral medication used to treat erectile dysfunction and pulmonary arterial hypertension, is one of the most widely prescribed drugs for male sexual arousal. It works by selectively inhibiting phosphodiesterase type 5, an enzyme that regulates blood flow in the penis. This allows more blood to enter the penis and helps achieve and maintain an erection. As male infertility rates are on the rise globally due to lifestyle changes, increasing stress levels and environmental toxins, the demand for sildenafil drug formulations is experiencing steady growth.
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 key trends:
Over-the-counter availability of sildenafil drugs without a prescription is one of the key trends witnessed in the market recently. This has made these drugs more accessible to men experiencing erectile dysfunction, thereby increasing their consumption. Several pharmaceutical companies are focusing on developing generic versions of branded sildenafil drugs to cater to a wider consumer base given the patent expiration of branded versions. This is expected to make generic sildenafil drugs more affordable. Formulation developments involving fast disintegrating oral films and gels are also gaining traction as they allow for more discrete and convenient usage compared to conventional tablets. These efforts aim to drive the growth of the sildenafil drug market over the forecast period.
Porter’s Analysis
Threat of new entrants: The sildenafil drug market poses a low threat of new entrants owing to presence of major branded manufacturers and requirement of large investments for R&D and clinical trials.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of generic alternatives. However, branded products still account for larger market share.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitutes and presence of large number of suppliers.
Threat of new substitutes: Threat of substitutes is moderate as there are alternative therapeutic options available for erectile dysfunction.
Competitive rivalry: The market is consolidated in nature with major players holding lion’s share. However, generic players are capturing market share.
Key Takeaways
The Global Sildenafil Drug Market Growth is expected to witness high over the forecast period supported by rising prevalence of erectile dysfunction worldwide. The market was valued at US$ 2.9 Bn in 2023 and is anticipated to reach US$ 5 Bn by 2030, expanding at a CAGR of 6.3%.
Regional analysis: North America dominated the sildenafil drug market in 2023 owing to growing demand for ED treatment drugs and presence of major branded manufacturers in the region. However, Asia Pacific is expected to register fastest growth through 2030 supported by rising healthcare expenditure, growing medical tourism, and penetration of generic drugs in emerging economies.
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. Generic manufacturers are rapidly gaining market share by offering lower cost alternatives. Major players are focusing on expanding geographical presence through collaborations with regional distribution partners.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
