The global lifestyle drugs market was valued at USD 29 billion in 2016 and is expected to surpass USD 34 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global lifestyle drugs market, under its cardiovascular and metabolic disorders portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Allergan, BMS, Eli Lilly, and Pfizer.
According to Sharan Raj, a lead analyst for cardiovascular and metabolic disorders research at Technavio, “The development of novel therapeutics is expected to drive growth in the global lifestyle drugs market. As the markets for depression and sexual dysfunction drugs are associated with high unmet medical needs, the need for novel therapeutics is on the rise.”
For instance, only 50% of individuals with depression receive any form of therapy. Out of these, only 25% of individuals receive a proper antidepressant dose and duration of treatment, which could be due to an incomplete understanding of neurobiology. Thus, vendors like Alkermes is developing ALKS 5461, a promising Phase III drug candidate, for the treatment of depression.
Click here to request a free sample of this report
Growing focus on development of drugs for new indications
Vendors are focusing on developing drugs for the treatment of new indications such as female sexual dysfunction. For instance, in August 2015, Sprout Pharmaceuticals received approval for Addyi (flibanserin) for the treatment of acquired, generalized hypoactive sexual desire disorder in premenopausal women. This is the first treatment for sexual desire disorder in women. Moreover, several vendors are gradually focusing on the development of new female dysfunction drugs to address the unmet needs in the untapped market.
Increase in M&A
The market has been witnessing an increase in M&A, which will lead to further consolidation. The vendors are pursuing inorganic growth strategies such as acquisitions or partnerships to expand their lifestyle drugs portfolio and to improve their presence in the market. For instance, in August 2015, Allergan acquired Naurex. The acquisition enhanced Allergan’s portfolio of depression drugs with the addition of rapastinel, a Phase III-ready molecule that demonstrated rapid and sustained efficacy in multiple Phase II clinical studies in depression. With the patent expires in the marketplace, vendors are also looking to enhance their portfolio through the acquisition of generics. Such initiatives will expand the business activities of vendors, thereby driving the market growth.
Ask an analyst to know more about this report
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio market research report titled, ‘Global Lifestyle Drugs Market 2017-2021‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Alopecia Drugs Market 2016-2020
- Global Metabolic Disorders Therapeutics Market 2016-2020
- Global Acne Drugs Market 2016-2020
To read more press releases – click here
