Report Overview

The global lifestyle drugs market was pegged at US$ 2.26 billion in 2021 and is expected to witness a CAGR of 4% during the forecast period.

Market Fundamentals 

Lifestyle drugs are medications that treat illnesses or habits such as smoking, alcoholism, or poor dietary habits. In general, lifestyle medicines are intended to improve people's quality of life by treating non-lethal or non-painful conditions such as baldness, wrinkles, impotence, acne, weight loss, insomnia, and others. Lifestyle drugs have become one of the world's most commercially appealing and dynamic industries in recent years.

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Market Dynamics

The growing popularity of lifestyle drugs is primarily driven by factors such as increased stamina, memory, concentration, and energy level, which are in high demand among young and middle-aged people due to stressful and unhealthy lifestyles. Lifestyle drugs represent massive untapped markets of potential profit for pharmaceutical companies. The availability and variety of recreational drugs are growing at an alarming rate. However, a lack of adequate reimbursement provisions and studies on the use and abuse of these drugs are significant market restraints.

Market Ecosystem

The global lifestyle drugs market has been analyzed from four perspectives: product type, application, end user, and region. 

Lifestyle Drugs Market by Product Type

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Based on product type, the global lifestyle drugs market has been segmented into anti-cholesterol drugs, anti-depressant, smoking withdrawal, hair loss, contraceptives, and others., The contraceptives segment is expected to grow at a significant CAGR during the forecast period due to the rising prevalence of sexually transmitted diseases and the increasing need for population control.

Lifestyle Drugs Market by Application

Based on application, the global lifestyle drugs market has been segmented into erectile dysfunction, anti-aging, smart drugs & cognitive enhancers, energy medication, birth control, obesity, smoking cessation, and others. Erectile dysfunction medications accounted for the largest share of this segment owing to increased cases of erectile dysfunction, which is frequently linked to rising rates of heart disease, high cholesterol, high blood pressure, diabetes, obesity, and smoking. Another serious condition related to male erectile dysfunction is hypertension. According to the Centres for Disease Control and Prevention (CDC), hypertension has become more common in recent years, with nearly 65 million people in the United States affected. As a result, the factors above are propelling segment growth.

Lifestyle Drugs Market by End-user

The global lifestyle drugs market has been segmented based on end-users into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment dominated the market during the forecast period. The increased availability of lifestyle drugs in hospital pharmacies is expected to be the primary driving factor for segment growth. However, the recent trend of online pharmacy adoption for lifestyle drugs is expected to boost the online pharmacy market segment. This is primarily due to the increasing discounts online pharmacy provides compared to the more expensive drugs available on the market. Due to the region's rapidly changing lifestyles brought on by industrialization, improving health care, and rising levels of awareness in developing countries like China and India, Asia Pacific is expected to experience the fastest increase. Weight loss-related medications are predicted to grow at the quickest rate of all pharmacological classes during the study period.

Lifestyle Drugs Market by Region

Based on the region, the global lifestyle drugs market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to hold a significant market share during the forecast period due to rising disposable income, a growing urban population concerned about their health and appearance, and increased new drug development. Furthermore, rising healthcare expenditures and increased R&D activities for product manufacturing and marketing are expected to drive regional market expansion.

Competitive Landscape

Some of the key players operating the market global lifestyle drugs market include 

• Alembic Pharmaceuticals Limited
• Eli Lilly and Company Ltd. 
• Sun Pharmaceuticals Industries Ltd.
• AstraZeneca PLC. 
• Teva Pharmaceuticals Industries Ltd.
• Forendo Pharma 
• Alkermes 
• Pfizer, Inc. 
• Novo Nordisk A/S 
• Merk & Co., Inc. 
• Mylan Pharmaceuticals, Inc.,
• GlaxoSmithkline PLC

Strategic Developments

• In April 2021, Mayne Pharma announced that the FDA had approved its Nextstellis contraceptive pill, which contains E4, a naturally occurring estrogen with an unusual mechanism of action that may be more beneficial than other estrogens.
• In January 2020, Greenstone, Upjohn's US-based generics business and a wholly owned subsidiary of Pfizer Inc., and Roman, an innovative digital healthcare clinic for men, have officially confirmed a purchase agreement that will give Roman members access to the only FDA-approved generic form of Viagra in the United States.

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