Pharmaceutical Industry Set for Growth with Expanding Sildenafil...

Pharmaceutical Industry Set for Growth with Expanding Sildenafil Drug Market

Posted 2024-09-04 11:32:17

The sildenafil drug market consists of prescription drugs used to treat erectile dysfunction (ED) in men. Sildenafil, sold under the brand name Viagra, works by enhancing the effects of nitric oxide, relaxing the smooth muscles of the corpus cavernosum and thereby allowing increased blood flow upon sexual stimulation. Due to the rising prevalence of lifestyle diseases, the lack of physical activity and increasing levels of stress, the need for sildenafil drugs is growing steadily.

The global sildenafil drug market is estimated to be valued at US$ 3.31 Bn in 2024 and is expected to exhibit a CAGR of 6.7% 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. The key players are focused on developing generic versions of sildenafil to cater to the growing patient pool within affordable price ranges.

The Sildenafil Drug Market Trends for purchase of sildenafil drugs provide a huge opportunity in the market. Additionally, growing health awareness campaigns especially in developing regions help men overcome the stigma related to erectile dysfunction and seek treatment.

The global expansion of Sildenafil Drug Market Size And Trends through new product approvals and strategic collaborations with local pharma companies will help strengthen their presence across international markets.

Market Drivers
The rising geriatric population prone to age-related health ailments and chronic lifestyle diseases such as diabetes, hypertension, obesity etc. is a major driver for the Sildenafil Drug Market Size And Trends According to WHO, by 2050 nearly 2 billion people or 22% of the world’s population will be aged 60 years and above. This translates to a vast patient base seeking ED treatment.