A recent report published by Infinium Global Research on lifestyle drugs market provides an in-depth analysis of segments and sub-segments in the global as well as regional lifestyle drugs market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional lifestyle drugs market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global lifestyle drugs market. According to the report, the global lifestyle drugs market is projected to grow at a CAGR of 7.1% over the forecast period of 2019-2025.
The change in lifestyle particularly in the urban society gave rise to the marketing of lifestyle drugs. Lifestyle drugs are medicines that are used to treat a disease that results from a person's lifestyle choices. Lifestyle drugs include drugs used to treat weight loss, smoking, impotence, baldness and the effects of aging, as well as medications that improve mental agility. The market is likely to get further intensified, widened and deepened owing to the increasing frequency with which it is being used.
The boom in the growth of lifestyle drugs is mainly attributed to poor lifestyle choices such as smoking, overuse of alcohol, poor diet, and lack of physical activity. In addition, factors such as increased lifespan of human population and the rising consciousness about lifestyle conditions such as obesity, erectile dysfunction and many more are generating greater demand for lifestyle drugs. Furthermore, the increasing interests of pharmaceutical industries and the availability of 24×7 telecasting tools of numerous media are supporting the growth of the market. However, the availability of counterfeit drugs is likely to restrict the growth of the market. Moreover, the growing research and development by the major pharma companies in lifestyle conditions are creating huge growth opportunities for the market players.
Among the regions, North America holds the largest share in the lifestyle drugs market. The rising prevalence of lifestyle diseases in the North America region owing to the stressful lifestyle and growing awareness about the lifestyle drugs for treating several conditions drives the growth of lifestyle drugs market in this region. The expiry of patents of several lifestyle drugs is anticipated to favor the growth of the North America lifestyle drugs market over the forecast period. Moreover, high capacity in healthcare expenditure of people in North America continues to be an added incentive for the growth of lifestyle drugs market. Asia-Pacific is the fastest-growing in the lifestyle drugs market owing to the rise in the elderly population in mature markets such as Japan and growing awareness about lifestyle diseases in the Asia Pacific region.
The report on the global lifestyle drugs market covers segments such as therapeutic type, form, and distribution channels. On the basis of therapeutic type, the sub-markets include obesity, women’s health, insomnia, sexual dysfunction, dermatology, smoking, and other therapeutic types. On the basis of form, the sub-markets include tablets, gels, parenteral, creams, oral syrups, and other forms. On the basis of distribution channels, the sub-markets include hospital pharmacies, retail pharmacies, and online channels.
The report provides profiles of the companies in the market such as Pfizer Inc., Procter & Gamble Company, Eli Lilly and Company, Merck & Co., Inc., d.b.a., AstraZeneca plc, Johnson & Johnson, GlaxoSmithKline plc, Teva Pharmaceutical Industries Ltd., Amgen Inc., Biocon Limited, and Dr. Reddy's Laboratories.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of lifestyle drugs market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.