Sildenafil Drug Market is Anticipated to Witness High Growth Owing...

Sildenafil Drug Market is Anticipated to Witness High Growth Owing to Increasing Prevalence of Erectile Dysfunction

Posted 2024-06-28 13:09:08

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The sildenafil drug market is extensively utilized for treating sexual dysfunction in men, predominantly erectile dysfunction and pulmonary arterial hypertension. Sildenafil drug works by relaxing the blood vessels in the penis, allowing more blood to flow into it during arousal. The advantages associated with sildenafil drug include its efficacy, affordability, and minimal side effects. It provides a viable treatment options for millions of men suffering from erectile dysfunction globally. The increasing prevalence of lifestyle diseases such as diabetes, obesity, and hypertension which can potentially lead to erectile dysfunction has propelled the demand for sildenafil drugs.

The Global sildenafil drug market is estimated to be valued at US$ 3.35 Bn in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period 2024 to 2031.

Key Takeaways

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.

Pfizer currently dominates the Sildenafil Drug Market Demand with its blockbuster drug Viagra. However, the patent expiry of Viagra has enabled other key players like Teva Pharmaceuticals and Ajanta Pharma to introduce generic versions of sildenafil drugs at lower price points, thereby increasing access to treatment.

The growing geriatric population globally who are more prone to develop age-related sexual dysfunction marks a huge patient pool for sildenafil drug manufacturers. Moreover, increasing social acceptance and growing willingness to talk about sexual health issues has further propelled the demand. Manufacturers are exploring new opportunities in emerging markets in Asia Pacific and Latin America through strategic collaborations and acquisitions.

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