Lifestyle drugs are used to treat conditions that are not lethal or painful, such as wrinkles, baldness, impotence, weight loss, acne, or weight-related issues, but do have an impact on a person’s appearance, and consequently, confidence. The sale of lifestyle drugs is sky rocketing, because the aforementioned conditions tend to affect the mental health of those suffering from these conditions. Insecurities, thus, tend to drive the demand for lifestyle drugs. The anti-aging segment will witness the fastest growth in the global lifestyle drugs market.
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The global anti-aging market was worth US$122.3 bn in 2013, and by 2019 it is projected to be worth US$191.7 bn, says a report by Transparency Market Research. Two mega trends are driving the growth of the anti-aging sector in the global lifestyle market. The first is the growing aging population and their demand for anti-aging products and second is the intensive research and development.
Growing Aging Population to Fuel Anti-aging Drugs Sector
The global lifestyle drugs market will greatly benefit from the rising demand for anti-aging drugs. According to the U.S. Department of Health and Human Services, the number of people aged 65 years or older was pegged at 44.7 mn in 2013, and is estimated to reach 98 mn by 2060. This shows that the aging population in the U.S. will more than double by 2060. The rising geriatric population in the U.S. will drive the demand for anti-aging drugs in the global lifestyle drugs market.
Other factors that will drive the demand for anti-aging drugs in the global lifestyle drugs market include the rising aging population in emerging economies and the increasing disposable income levels. In addition to this, stringent regulations in the global lifestyle drugs market have led to the introduction of safe and efficient products in the market. This will further fuel the growth of the anti-aging drugs sector in the global lifestyle drugs market.
Demand from Consumers Driving Development of Anti-aging Lifestyle Drugs
Companies around the world have realized the potential that the anti-aging drugs sector holds and have started investing heavily in research and development of novel drugs. The research on anti-aging drugs stems from the field of longevity research.
One of the most promising drugs is rapamycin. This drug tends to inhibit a gene known as mTOR and changes the body’s resources from a ‘growth’ mode to a stress-resistant ‘maintenance’ mode. In a study funded by the National Institutes of Health (NIH), male and female mice were given this drug during their late middle age. Researchers noted that the male mice lived 9% longer while the female mice lived 14% longer than their respective average life expectancy.
Companies in the global lifestyle drugs market such as Novartis and Calico are pouring substantial resources into this field. However, companies need to address the side effects of anti-aging drugs before they introduce these drugs in the market. Some other key companies in the global lifestyle drugs market are Teva Pharmaceuticals, Johnson & Johnson, Sun Pharmaceuticals, Novo Nordisk, and Cipla Limited.