The demand for potency drugs increases rapidly
Press release: Uppsala, March 2, 2022. Demand for potency drugs has increased by 41% in the last three years, according to market statistics from several markets from the American company IQVIA. Swedish-based Dicot, developing a drug to treat sexual dysfunctions, explains that there are several reasons for this.
The global market for erectile dysfunction drugs was worth SEK 44 billion in 2021, and in large western markets, demand has increased rapidly in recent years. Since 2018, the number of drugs sold grew by an average of 3% per quarter, which corresponds to a volume increase of 41% during the period. The statistics is produced by the American company IQVIA who is a provider of sales figures to the pharmaceutical industry, and include USA, UK, Germany, France, and the Nordic countries.
European markets have experienced this upswing even longer. According to the Swedish pharmaceutical magazine Läkemedelsvärlden, sales of potency drugs in Sweden increased by 40% between 2007 and 2017 and gained extra momentum in 2013 when Viagra's patents expired in several European countries. The older population represented the greatest growth in Sweden. Among patients over the age of 70, the increase was 69%.
"We are not surprised by these numbers. Erectile dysfunction is due to several factors where aging is one of the most crucial and the proportion of older people is growing. By 2050, 20% of the population will be over sixty years old. In addition, mental illness is spreading, which represents another cause of erectile dysfunction ", comments Göran Beijer, CEO of Dicot.
For further information, please contact:
Göran Beijer CEO
Tel: +46 706 63 60 09
Email: goran.beijer@dicot.se
About Dicot AB
Dicot is developing the drug candidate LIB-01, which will be a potency agent to better treat erectile dysfunction and premature ejaculation. The ambition is to create a drug with significantly longer effect and far fewer side effects, compared to those on the market. Today, at least 500 million men suffer from these sexual dysfunctions and the market is valued at SEK 50 billion. Research and development are conducted under own auspices up to phase 2 studies. Thereafter, Dicot's intention is to form strategic alliances, or alternatively carry out a trade sale, with larger, established pharmaceutical companies to be able to introduce LIB-01 on the world market.
Dicot is listed on Spotlight Stock Market and has approximately 3,300 shareholders. For more information, please visit www.dicot.se.