The global lifestyle drugs market is expected to grow at a CAGR of around 4% during the forecast period. Medicines used to treat lifestyle diseases such as smoking, drinking, or poor eating habits are known as lifestyle-style drugs. In general, lifestyle medications are intended to improve a person’s quality of life by treating non-lethal or non-painful diseases such as baldness, wrinkles, impotence, acne, weight loss, sleeplessness, and other similar issues. Lifestyle medicines have become one of the most economically appealing and dynamic sectors globally.
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The market growth is being driven by an increasing demand among individuals to be physically active. In addition, rising disposable income, increased knowledge of lifestyle diseases, and strong promotional operations for these medicines in emerging and developed markets have considerably raised demand and sales of these medications. Furthermore, most of these medications are available over-the-counter, reducing the dependence on clinics and hospitals.
Moreover, as people’s awareness of their appearance improves, more individuals seek out dermatologists to treat acne, balding, and wrinkles. Over the forecast period, the revenue growth of the lifestyle drugs market is driven by rising healthcare spending and consumers’ increasing preference for lifestyle medications. The market for lifestyle drugs is also being driven by an increase in the number of new drug releases for various illnesses.
Zelira Therapeutics Ltd, a leading global medical cannabis firm, launched RAF FIVE, a new range of CBD-based acne and skin treatments, in September 2021. The RAF FIVE series of acne treatments, developed in collaboration with Harvard-trained and US board-certified cosmetic dermatologist Dr. Karyn Grossman and recognized drug research chemist, Dr. Brian Warrington.
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Market Coverage
- Segment Covered- By Product Type
- Competitive Landscape: Pfizer Inc., Eli Lily & Co., Teva Pharmaceuticals, Biocon Ltd., Mylan Pharmaceuticals, GlaxoSmithKline Plc, and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Lifestyle Drugs Market Report Segment
By Product Type
- Anti-depressant
- Smoking Withdrawal
- Fat Burner/ Anti-Cholesterol Drugs
- Contraceptives
- Others
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