The sildenafil drug market comprises oral medications used for treating erectile dysfunction in males. Sildenafil drug aids in increasing blood flow to the penis thereby helping achieve and maintain erection. With growing age, issues like hypertension and diabetes also contribute to erectile dysfunction, increasing the need for such drugs. 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 key trends:

The expiration of Viagra's patent in several countries including the US has accelerated growth of the sildenafil drug market by increased access to more affordable generic versions. Generic sildenafil drugs are available at significantly lower costs compared to branded Viagra, making treatment accessible to a much larger patient base. This has boosted overall volume sales and expanded the market size. Additionally, growth in online sales of generic sildenafil drugs through e-pharmacies has supported greater availability and affordability while ensuring patient privacy, thereby further driving the market demand.
Segment Analysis
The global Sildenafil Drug Market is dominated by the erectile dysfunction sub segment. Sildenafil drug which is commonly known as Viagra is majorly used for treating erectile dysfunction in men. This sub segment accounted for over 80% of the total sildenafil drug market share in 2023 owing to the high incidence of erectile dysfunction globally especially among aging men population.

Key Takeaways
The global Sildenafil Drug Market Size is expected to witness high growth during the forecast period of 2023 to 2030.

Regional analysis:
North America accounted for the largest share in the global sildenafil drug market in 2023 owing to high awareness and medical reimbursement for erectile dysfunction treatment in countries like US and Canada. Europe was the second largest market. However, Asia Pacific region is expected to witness fastest growth during forecast period owing growing geriatric population dealing with lifestyle diseases like diabetes and obesity in major economies like India and China.

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 retains the largest market share in the market owing to its flagship brand Viagra which has strong brand recall globally.

For more insights, Read- https://perfectinsights.blogspot.com/2023/12/the-sildenafil-drug-market-poised-to.html