Erectile Dysfunction Treatment Market - Global Outlook and Forecast 2024-2029

INDUSTRY OVERVIEW

The global erectile dysfunction treatment market was valued at USD 4.72 billion in 2023 and is expected to reach USD 4.46 billion by 2029, registering a negative CAGR of -0.94% during the forecast period. A high prevalence of ED and associated chronic diseases such as diabetes, benign prostate hyperplasia, prostate cancer, and CVDs, which can, in turn, pose as a high-risk factor for the occurrence of this disease, are key market drivers for the ED market both in developing and developed countries. Further, rising awareness, growing patient willingness to demand medical assistance for disease care and management, and the increasing presence of favorable guidelines that recommend the use of drugs and devices for the treatment of ED are expected to propel the erectile dysfunction treatment market growth during the forecast period. Also, constantly developing and launching innovative products is essential for vendors operating in this steadily competitive market to achieve healthy sales growth and increase industry share.

MARKET TRENDS & DRIVERS

New Device Technologies in ED Treatment
The increasing focus of manufacturers on research and innovation led to the development of advancements in the treatment of erectile dysfunction. Shock wave therapy recently emerged into the market, proving its safety and efficacy with no adverse effects. Furthermore, innovations by vendors, such as magnetic therapy and the development of vibrators, are also likely to boost the growth of the erectile dysfunction treatment market.

Advancements in ED Treatment Devices
The increasing innovations in pharmaceutical research deliver advancements in ED devices. Widely used ED devices include penile implants, vacuum constriction devices, and shockwave therapy. Penile implants cover a major part of the industry share due to their high physician recommendation. Moreover, adverse effects are associated with the pharmacological therapy of ED and permanent treatment.

SEGMENTATION INSIGHTS

INSIGHTS BY PRODUCT
The drugs product segment dominated the global erectile dysfunction treatment market share in 2023. The ED drugs market segment comprises oral therapies, topical therapies, intraurethral suppositories, and penile injection therapies. Among the three sub-segments, the oral drugs sub-segment dominated the ROA segment. Oral therapies contain PDE-5 inhibitors, which are recognized as a first-line treatment option by medical professionals and government bodies for the treatment of ED. The growth of the ED drugs market is attributed to the high prevalence of vascular and chronic diseases such as diabetes, hypertension, psychological disorders, etc. Furthermore, alcohol consumption, secondary lifestyle, and cigarette smoking are contributing to the increase in the prevalence of ED. The aging population is also increasing the demand for ED drugs in the industry.

INSIGHTS BY ROA – DRUGS
The global erectile dysfunction treatment market by ROA – drugs is segmented into oral drugs, penile injections & suppositories, and topical formulation. In 2023, the oral drugs segment accounted for the most prominent share of the market and is projected to continue its dominance during the forecast period. The significant share of this segment can be mainly attributed to the brand value of currently marketed PDE5 inhibitor drugs, which facilitate high uptake of these drugs by ED patients, especially for self-management of the condition. Furthermore, oral drugs are found to be more effective & safer and are considered first-line therapy drugs in the treatment of ED. The only class of drugs available are phosphodiesterase (PDE)-5 inhibitors, which include sildenafil, tadalafil, vardenafil, avanafil, udenafil, lodenafil, and mirodenafil. Further, new drugs such as Stendra (avanafil) were observed to have several advantages compared to the old drugs, such as decreased side effects & interactions and rapid onset of action. At present, Stendra is the only drug available as a branded drug version for ED.

INSIGHTS BY DISTRIBUTION CHANNEL – DRUGS
The retail pharmacies distribution channel is projected to hold the most significant share of the global erectile dysfunction treatment market in 2023. The retail pharmacies segment is expected to lead the industry due to the easy availability of erectile dysfunction drugs at retail stores. Furthermore, the expiration of patent protection for blockbuster drugs, including Viagra, Cialis, and Levitra, is increasing their generic sales through retail pharmacies, where they can be purchased easily without any prescription.

INSIGHTS BY TYPE – DEVICES
The global erectile dysfunction treatment market by type – devices is segmented into penile implants, vacuum constriction devices, shock wave therapy, and others. The penile implant-type–devices segment had the most significant global market share in 2023. Penile implantations are recommended when the patient fails to respond through oral PDE-5 inhibitors or penile injections. Although penile implantations are considered the last option by physicians compared to drugs, the demand for these implantations is increasing in the industry due to their high efficacy, providing up to 90% satisfactory erection in the patient population. Furthermore, several innovations were made in the ED devices industry. For Instance, an innovative penile prosthesis based on a novel nickel-titanium shape memory alloy (SMA), alternating between rigid configuration and flaccid on heat application, can mimic the erection without needing a pump or reservoir. A study comparing with AMS 700 demonstrated that SMA showed comparable results, which may provide a new option for treating ED.

GEOGRAPHICAL ANALYSIS

North America was the largest geographical segment of the global erectile dysfunction treatment market, with a share of over 33% in 2023. The presence of a large proportion of the ED population, coupled with better access to ED, especially generic drugs, is the primary factor for its high industry share. The increased awareness of ED among young and middle-aged men through several public and private sponsored health campaigns, as well as the advent of new ED drugs, especially OTC drugs, is projected to enable industry growth in the region. Furthermore, The U.S. is the major revenue contributor to the North American erectile dysfunction treatment market. The demand for ED treatment in the United States is increasing at a healthy rate owing to the significant rise in the prevalence/incidence of erectile dysfunction in adult men.

The prevalence of ED across European countries is likely to rise during the forecast period, which, in turn, is expected to contribute to the increasing ED treatment pool, thereby driving the size of the erectile dysfunction treatment market. The growing prevalence of diseases associated with the risk of ED as a co-morbid condition and the rise in acute and chronic stress will drive the ED prevalence population. Furthermore, factors like a huge patient population, well-established healthcare infrastructure, and rising healthcare expenditure are projected to support the growth of the ED treatment industry in the APAC region. The prevalence rate of ED is significantly higher in the APAC region than in other regions worldwide. The region is also witnessing a significant increase in ED incidence due to the growing burden of chronic conditions, which, in turn, are associated with the high risk of ED occurrence.

VENDOR LANDSCAPE

The global erectile dysfunction treatment market is characterized by pharmaceutical companies, generic manufacturers, and device manufacturers. Companies in the market offer generic drugs, topical cream formulations, and non-invasive methods. Further, the consumption of ED drugs and devices is the highest in the U.S. and Europe. The demand for ED treatment is also anticipated to grow drastically in developing regions, especially in the APAC region, due to an unsatisfied patient pool, large unmet demand, and increased awareness. As a result, various players are growing their businesses and investing a huge amount in APAC due to considerable growth potential.

Coloplast, Boston Scientific, Pfizer, Eli Lilly and Company, Teva Pharmaceuticals, and Bayer are leading players in the global erectile dysfunction treatment market. Further, Coloplast is a global company developing products and services for personal and private medical conditions. It operates through three reportable segments: chronic care, interventional urology, and wound & skin care. Interventional urology markets urological products, including penile implants such as Titan OTR & Genesis, used in the treatment of erectile dysfunction. Coloplast is a key vendor in manufacturing erectile dysfunction devices.