This year, the cost of a single Viagra pill has increased by 132%. Is there a reason behind this astronomical number? We take a look.
Generic Viagra Still the Most Popular Option
Forbes reports that in 2018, the most popular drug in the world is still generic Viagra. The figure has not changed since 2016, despite the increasing prices of almost all other drugs. It is known that Viagra is one of the safest and most effective treatments for erectile dysfunction. Most men, in fact, experience significant improvement with just one pill a day. The reason for this is that the drug works by enhancing blood flow to the genitals. This, in turn, results in an erection that lasts long enough for sexual activity. It is also known that Viagra is quite cost-effective; in 2018, a single pill costs around $5.
Supply And Demand
In most cases, pharmaceutical companies increase drug prices when there is a shortage in supply. For example, in 2008 and 2009, the price of Vioxx, an anti-inflammatory drug, increased by 466% and 612% because of shortage. In 2016, the price of the same drug increased by 462%. It is quite obvious that in times of shortage, companies will increase prices to secure enough supplies for their customers. But even when there is a sufficient quantity of a drug, prices will increase because of intense competition in markets. For instance, in 2014 and 2015, the price of Lipitor, a cholesterol-lowering drug, increased by 71% and 65% because of fierce competition. In the meantime, Viagra’s price has increased by 132% in 2018 alone. So it would seem that the drug is becoming more expensive because more and more men are seeking treatment for erectile dysfunction.
Inflation
Every year brings with it new medical advancements and pharmaceutical inventions. Sadly, not all these benefits reach the people that need them most because of inflation. When a new drug is discovered, pharmacists will have to calculate how much drug cost will increase because of this new medication. Sometimes, this can be significant. It would seem that pharmaceutical companies do not want to absorb this cost, so they pass it on to the consumer. While this may not seem fair, at least it provides some transparency to consumers as to why drug prices increase.
Research And Development
Pharmaceutical companies spend billions of dollars a year on R&D (research and development) to discover new drugs that could potentially treat diseases. Not all of these drugs will make it to market, and some may even prove to be dangerous. In 2017, for example, there were over 250 drug safety alerts issued by the FDA (Food and Drug Administration). The cost of developing a new drug is incredibly expensive, and to secure enough funds to continue these research efforts, drug companies are forced to seek investors and to charge higher and higher prices for their products. While this may sound great to those that can afford these drugs, it would appear that a large number of Americans cannot.
Who Are The Main Consumers Of Viagra?
Although Viagra’s price has increased by 132% in 2018, the drug is still quite popular, especially among older Americans. According to the U.S. Census Bureau, around 26.2 million American men aged 40 and above have used Viagra at least once in their life. Furthermore, around 12.4 million men aged 40 and above have used it within the last year. These are astonishing figures when you consider that around 18 million American men suffer from erectile dysfunction. So it would seem that there is still a large number of men that can benefit from this drug. The drug’s effectiveness also makes it a popular choice amongst couples that want to give their love life a try. It is said that around 1 in 10 American marriages suffer from ED, and for some couples, treatment with Viagra can help them revive their sex life. Even amongst younger men, around 2.9 million American men aged 18 to 39 have used Viagra in the last year. This is quite a large number, considering that around 3.8 million American men suffer from erectile dysfunction. So it would seem that even amongst the younger generation, there is still a large number of men that could benefit from this drug. Finally, it should be mentioned that in 2017, 35% of U.S. men aged 40 and above used some kind of herbal supplement to help them improve their sexual performance. While many of these products contain natural substances that could enhance your sexual health, keep in mind that they are not approved by the FDA. Furthermore, if you are taking these products, it is quite obvious that your doctor will not be able to detect any abnormalities using routine blood tests.
What Forms Does Viagra Come In?
Viagra comes in many forms, including tablets, capsules, and injections. It is quite easy for the general public to take, since it does not require any specific preparation before use. Furthermore, the tablets and capsules that contain this wonder drug are quite small and easy to swallow. If you are traveling or have trouble swallowing, then the injection form could be a better option for you. However, for those that can safely take oral medications, there are a variety of options that they can choose from. As long as you are taking the proper precautions and using a reliable source of medication, then there is no reason why you should not enjoy a satisfactory sex life, regardless of your age.