Sildenafil Drug Market to Reach US$2.9 Billion In 2023: Market Overview and Key Trends
Sildenafil Drug Market Market Overview: The global Sildenafil Drug Market is expected to reach a value of US$2.9 billion by 2023, with a projected compound annual growth rate (CAGR) of 7% during the forecast period of 2023 to 2030. Sildenafil drugs, commonly known as Viagra, are used for the treatment of erectile dysfunction in men. These pharmaceutical products offer numerous advantages, including improved sexual performance, enhanced libido, and increased self-confidence among users. The need for such products is driven by the growing prevalence of erectile dysfunction worldwide, as well as the increasing demand for effective and safe treatment options in this domain. Market Key Trends: One key trend in the Sildenafil Drug Market is the emergence of generic versions of sildenafil drugs. Pfizer, the original manufacturer of Viagra, holds the patent for sildenafil citrate, the active ingredient in the drug. However, this patent expired in 2020, leading to the entry of generic manufa...