The global market for lifestyle drugs is on the rise, with a projected growth to reach $46 billion by 2030. This market, estimated at $37.3 billion in 2023, is expected to grow at a CAGR of 3.1% over the analysis period of 2023-2030. One of the key segments contributing to this growth is lifestyle drugs for obesity, which is expected to record a 3.6% CAGR and reach $19.5 billion by the end of the analysis period. Additionally, the lifestyle drugs for dermatology segment is estimated to grow at a 2.7% CAGR over the next 7 years.
In terms of regional markets, the U.S. market for lifestyle drugs is estimated at $11.2 billion in 2023. China, the world’s second-largest economy, is forecasted to reach a market size of $8.2 billion by 2030, with a CAGR of 2.9% over the analysis period. Other noteworthy geographic markets include Japan and Canada, each forecasted to grow at 2.9% and 2.5%, respectively, over the 2023-2030 period. Germany, within Europe, is expected to grow at a CAGR of approximately 3.2%.
The report on the global lifestyle drugs market covers various key attributes, including the number of pages (184), forecast period (2023-2030), estimated market value in 2023 ($37.3 billion), forecasted market value by 2030 ($46 billion), compound annual growth rate (3.1%), and regions covered (global).
The report also focuses on select players in the market, featuring 22 companies such as Alembic Pharmaceuticals Limited, Amgen, Inc., AstraZeneca PLC, Biocon Ltd., Cipla Ltd., Dr. Reddy’s Laboratories Ltd., Eli Lilly and Company, GlaxoSmithKline PLC, Johnson & Johnson, Lupin Ltd., Merck & Co., Inc., Mylan Pharmaceuticals, Inc., Novo Nordisk A/S, Pfizer, Inc., Piramal Enterprises Limited, Procter & Gamble Company, The, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., and Zydus Cadila.
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In conclusion, the global lifestyle drugs market is set to experience significant growth in the coming years, driven by increasing demand for lifestyle drugs for obesity and dermatology. With key players in the market and a focus on innovation and market trends, the industry is poised for continued expansion and development.