Lifestyle Drugs Market Scope
Lifestyle drug is basically an imprecise term which is been commonly applied to the medications which treat the non–life-threatening and some of the non-painful conditions such as baldness, erectile dysfunction, wrinkles, or acne, that the speaker perceives as minor conditions of medical relative to others or as either not medical problems at all. This is sometimes intended as a pejorative, bearing the implication which the scarce medical research resources have been allocated to develop such drugs. A large number of lifestyle drugs have been approved by the FDA and other regulatory bodies of different countries for some skin conditions and disorders related to lifestyle. Some of the indications such as pigmentation, acne, wrinkles, psoriasis and many others can be treated by such drugs.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | ALLERGAN PLC (Ireland), BMS (United States), Eli Lilly (United States), Pfizer (United States), Acerus Pharmaceuticals (Canada), Alkermes (Ireland), Amorepacific (South Korea), AndroScience (Slovakia), AstraZeneca (United Kingdom) and Avanir Pharmaceuticals (United States) |
CAGR | % |
Despite the presence of competition and brand effect problems, due to the awareness of end-users and their demand for high-end products, investors are still optimistic about this area. There will be more new investors entering into this industry in the future. The manufacturers who want to occupy the market must depend on market mechanism reform, manufacturing equipment innovation, core technology improvement, and brand establishment. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Lifestyle Drugs market throughout the predicted period.
ALLERGAN PLC (Ireland), BMS (United States), Eli Lilly (United States), Pfizer (United States), Acerus Pharmaceuticals (Canada), Alkermes (Ireland), Amorepacific (South Korea), AndroScience (Slovakia), AstraZeneca (United Kingdom) and Avanir Pharmaceuticals (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Celtaxsys (Georgia), Cerecor (United States), Corcept Therapeutics (United States) and Cosmo Pharmaceuticals (Ireland).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Lifestyle Drugs market by Type , by Application (Children, Adults and Senior Citizens) and Region with country level break-up.
On the basis of geography, the market of Lifestyle Drugs has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In March 2024, Cipla has compled its USD 550-million acquisition of US generic drug makers InvaGen and Exelan. This gives the 80-year-old Indian drug maker a bigger presence in the lucrative US market. This is its second major acquisition after the Rs 2,700-crore deal to buy South African drug firm Medpro in 2013.
In November 2023, Nordisk is pushing ahead with the launches of weight-loss drug Wegovy in Europe and Japan, even as it struggles to keep up with demand. The Danish drugmak is working to convince European governments and insurers to reimburse the drug seeking to position it as more than a lifestyle drug.
“The Food and Drug Administration (FDA), a regulatory agency within the Department of Health and Human Services, regulates the safety and effectiveness of drugs sold in the United States. FDA divides that responsibility into two phases. In the preapproval (premarket) phase, FDA reviews manufacturers’ applications to market drugs in the United States; a drug may not be sold unless it has FDA approval. Once a drug is on the market, FDA continues its oversight of drug safety and effectiveness. That postapproval (postmarket) phase lasts as long as the drug is on the market.”
Influencing Trend:
High Demand for Quick Diagnosis and Rising Expenditure on Personal Care
Market Growth Drivers:
Increasing Skin Related Infection, Growing Demand for Topical Dermatological Drugs and Changing Lifestyle Standard Fueled By Rising in Disposable Income
Challenges:
Lack of Awareness in the Emerging Economies
Restraints:
Stringent Government Regulations Regarding Drugs and Threat of Side Effects Associated With Lifestyle Drugs
Opportunities:
Development of Innovative Products, Increasing Demand for Lifestyle Drugs for Proper Lifestyle and Growing Healthcare Infratstrure in the Developing Economies
Key Target Audience
Lifestyle Drugs Manufacturers, Traders and Distributors of Lifestyle Drugs, Research and Development Institutes, Potential Investors, Nationalized Laboratory, Government and Research Organizations, Trade Associations and Industry Bodies, Commercial Research & Development Institutions and Others