Lifestyle drugs are the type of medications used in the treatment of non-threatening and non-painful condition such as baldness, erectile dysfunction, acne, and others. Non-medical problems and minor medical conditions can be treated with help of this drugs. Main goal of this drug is to improve quality of life and maintain healthy lifestyle. Moreover, these drugs are used in eliminating the chronic life style habits such as alcohol and smoking consumption. Hair loss reduction agents, smoking withdrawal, fat burner, anti-wrinkle drugs, and others are the types of lifestyle drugs.
COVID-19 Impact Analysis
COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as Hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing shortage of these drugs. Thus, the pharmaceutical and biotechnology industry is expected to witness a significant growth in the future owing to the demand for vaccine and treatment drugs for COVID-19. This in turn is expected to have a significant impact on the lifestyle drugs market.
Top Impacting Factors
- Surge in adoption of healthy lifestyle all over the globe, increase in skin related disorders such as skin infection, rise in demand for topical dermatology drugs, surge in consumption of alcohol & cigarettes, and increase in geriatric population are the key factors that drive the growth of the market.
- In addition, rise in expenditure on personal care products, surge in demand of disorder specific treatment, increase in expenses on health care sector, R & D activities to improve quality of drugs, government support to spread awareness to stop consumption of alcohol & smoking, and ongoing development of personalized lifestyle drugs by key market players are some factors, that drive the growth of the market.
- However, side effects related to lifestyle drugs can hinder the growth of the market.
- Contrarily, rise in popularity of lifestyle drugs due to e-commerce development are expected to offer lucrative opportunities for the expansion of the market.
Market Trends
New Product Launches to Flourish the Market
In 2021, Pacific Nature announced launch of vitamin and supplement product launch. This product is named as EpiCor which help to fulfil daily requirement of vitamins and minerals.
In 2021 Huel launched vegan protein powder. This powder is word’s first complete nutritional vegan protein powder which help to fulfil daily requirement of protein in vegan population.
In 2019, Dr. Reddy’s announced launch of Tadalafil product in U.S. market. This drugs is used in treatment of erectile dysfunction.
In 2018, Glenmark announced launch of hair loss treatment product named as Nourkrin in Russia. This product is used to stop hair loss in adults & aged persons.
Key Benefits of the Report
- This study presents the analytical depiction of lifestyle drugs market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Lifestyle Drugs Market Report
- Which are the leading players active in the lifestyle drugs market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What is "lifestyle drugs"?
- What is "lifestyle drugs" market prediction in the future?
- Who are the leading global players in the "lifestyle drugs" market?
- What are the current trends and predicted trends?
- What are the key benefits of the "lifestyle drugs" market report?
Lifestyle Drugs Market Report Highlights
| Aspects | Details |
 By Therapeutic Type |
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 By Form |
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 By Distribution Channel |
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 By Region |
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 Key Market Players | Amgen Inc., Novartis, Pfizer, AstraZeneca,, Biocon Limited, Johnson and Johnson, Allergan, Galderma, Eli Lilly, Dr. Reddy's Laboratories., BMS, Valeant Pharmaceuticals, Teva Pharmaceutical Industries Ltd., Sanofi, Merck |
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