For men with a dysfunctional sexual response, there is Viagra, that as we all know, has been approved by the FDA  and is commonly used to treat erectile dysfunction.  It has been found to be effective if used when the man is aroused.
For women with a low sexual desire, there are no products that are FDA approved for this problem and there aren’t a slew of female sexual enhancement products on the market - well, yet.  The FDA has been cautious about approving products containing testosterone due to concern about side effects and long term safety.    Side effects for women using products with testosterone include facial hair and an enlarged clitoris.  
Testosterone taken orally can cause liver damage.  Women with a low libido often turn to compounding pharmacies for creams, gels and suppositories that contain testosterone.   Intrinsa, which is a skin patch that contains testosterone, is available in Europe.  Research showed that the high dose patch increased desire and sexual activity in women.
Intrinsa is not approved by the FDA or available here in the U.S.  Zestra is a botanical oil used to increase sexual desire.  It is used topically and applied to the genitals.  Zestra is available as an over the counter product and is nonprescription.  Research sponsored by the company states Zestra is safe and can increase sexual desire in women, and works so far as an acceptable female sexual enhancement external stimulant.

ArginMax is a supplement with vitamins, herbal products and L-argine, an amino acid.   ArginMax is suggested for use in women to increase sexual drive.  Since it is nonprescription, research is company sponsored.  This research, a study done at Stanford University, claims it appeared to enhance sexual desire in women.
Part of the reason that women are lagging in products available for treatment of reduced libido is the difficulty in measuring and assessing a women’s sexual response.  Sexual dysfunction in women is harder to define.  More research is called for in this area of women’s health to enhance the quality and happiness of life for females.