ID: MRFR/Pharma/3274-HCR | 90 Pages | Author: Rahul Gotadki | June 2023
The Performance Enhancing Drugs Market is anticipated to reach USD 534.3 Million by 2030 at 6.6% CAGR during the forecast period 2022-2030.As the name suggests, performance-enhancing drugs refer to those chemical agents that provide an advantage to the athlete and helps in boosting athletic performance. Enlargement of muscles, and increasing the carrying capacity of blood’s oxygen are some of the effects that are a result of consuming the performance-enhancing drugs before competition for the athletes. As per the Health Research Funding and their conducted research in 2015, as many as, 1,084,000 Americans were known to consume the anabolic performance-enhancing drugs. Also, the other stats include the willingness of people to consume these drugs even after learning the fact that these might shorten their life span. The quantum of these stats stands at 57%. These drugs can be categorized as aids and steroids which help the athletes enjoy the physical edge during the competition. Also, the athlete is likely to have a mental state to give their best post the drug use, as well. The steroids which the athletes use is a modified testosterone version. These have medical uses but cannot be categorized as performance enhancers.
COVID 19 Analysis of Performance Enhancing Drugs Market
Since the arrival of the pandemic, the demand for performance-enhancing drugs is constant but is not experiencing any growth. The pandemic has accelerated new trends and techniques and people are questioning the quality of their life and their lifestyle. To have a better and qualitative life, people are shifting to healthier alternates and shifting to better eating habits including health supplements. Also, during the pandemic, the lockdown, social distancing, and event cancellations are reducing competition. Hence, the demand for performance-enhancing drugs is stagnant. Also, the associated health risks with the same are pushing people to opt for alternate and healthier means. While others are eliminating the use and go natural.
The key market players that are functional in major regions of the world and hence, are opting for key strategies opportunities that will help them grow by the end of the forecast period in 2023. The players are opting for product developments and enhancements through mergers and acquisitions. This has a major role to play in increasing the will for people to use these drugs and the widescale awareness, reliable information, and demand related to the same.
Performance Enhancing Drugs Market Dynamics
There is an increase in the use of anabolic steroids amongst the target audience and patients having medical histories related to different kinds of diseases. Also, these drugs are presenting a reliable use for the treatment of health issues like anemia, and certain types of breast cancer alongside the others that prevail amongst the patients. These factors are playing a major role and acting as drivers to fuel the growth for the performance enhancing drugs market on a global level for the forecast period ending in 2023.
Even though there are varied uses of such drugs, the performance enhancing drugs market is exposed to certain restraints on its way of global growth as per the prediction. The side effects due to the use of these drugs real and a matter of concern. In males, acne breakout is a common risk and there are other health issues like reduced sperm production. Females witness issues like masculinization, a higher risk of a heart attack, and others. Also, the government is proposing stricter guidelines that are restricting the performance enhancing drugs market growth during the forecast period that ends in 2023.
is exposed to certain restraints on its way of global growth as per the prediction. The side effects due to the use of these drugs real and a matter of concern. In males, acne breakout is a common risk and there are other health issues like reduced sperm production. Females witness issues like masculinization, a higher risk of a heart attack, and others. Also, the government is proposing stricter guidelines that are restricting the performance enhancing drugs market growth during the forecast period that ends in 2023.
Most of the athletes that belong to the developed and developing nations are demanding the use of performance-enhancing drugs on a large scale. There is a rise in the positive tests for anabolic drugs across the world and the figure has touched 50.6% as reported by the Health Research funding. This shows that there is a growth in the acceptance of these drugs and there is a growth in the utilization of the same for performance. The potential audience is witnessing an increase in the per capita income for people which is further pushing them to invest in the consumption of these drugs.
Figure 1:- Global performance enhancing drugs market share, by region
Sources: WHO, annual reports, press release, white paper, and company presentation
Performance Enhancing Drugs Market Segment Overview
The global performance enhancing drugs market is largely dependent on the functioning of the various market segments that are available across various regions in the globe. The segments prove an understanding of the revenue cycle which further helps in predicting the market valuation. The market has been segmented based on the following:
The type segment of the global performance enhancing drugs market includes ergogenic acids and nootropics amongst others. Further, the ergogenic acids have sub-segments like human growth syndrome, DHEA, anabolic steroids, and others. The nootropic segment includes racetams, acetylcholine intermediates, and ampakines, amongst others.
The product segment of the global performance enhancing drugs market includes pills and patches, alongside injections on the requirement.
The market end-users are athletes and bodybuilders, militaries, and students.
Performance Enhancing Drugs Market Regional Analysis
Owing to the historic trends and efforts of the performance enhancing drugs market players present, the North American region is likely to have a dominant hand over the global market operations. The companies help in generating a high per capita income for the population in regions like Canada and the USA. this is increasing the purchasing power of the people. Also, in the historic year of 2017, the American Cancer Society functioning in the USA, reported a huge rise in the cases of women suffering from breast cancer. The number reached 252,710 and the death toll because of the same reached 40, 610. Hence, to cure such diseases and put the patients in a better position, the demand for anabolic steroids is enhancing and this will boost the global performance enhancing drugs market growth during the ongoing forecast period that ends in 2023.
Performance Enhancing Drugs Market Competitive Landscape
The report helps to analyze the competitive degree that prevails in the performance enhancing drugs market and for the same, it is mandatory to understand the prominent players that are putting efforts in these regions. The players are as follows:
The curated report is a step to understand the performance enhancing drugs market dynamics and further conduct the performance-enhancing drugs market analysis to predict the CAGR rate and market valuation by the end of the forecast period in 2023. The report discusses the impact of the pandemic on the market operations and the steps taken by the government and key market players to bounce back. The report also discusses the market segmentation that has the potential to bring a change in the final market valuation by their functioning in various regions across the globe. Also, to judge the competitive degree, the market report mentions the recent developments undertaken by the performance enhancing drugs market players for final evaluation.
|Market Size||USD 534.3 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Types, Products, and End-Users|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Taj Pharmaceuticals Limited. (India), Balkan Pharmaceuticals. (Europe), Bayer AG (Europe), AstraZeneca (Europe), Novo Nordisk A/S (Europe), BrainAlert, LLC (U.S.), Douglas Laboratories. (U.S.), Onnit Labs, LLC. (U.S.), Eli Lilly and Company. (U.S.)|
|Key Market Opportunities||Continuously Developing Economies|
|Key Market Drivers||Growing acceptance of performance enhancing drugs among amateur bodybuilders and fitness enthusiasts|
Performance enhancing drugs are drugs that elevate the consumer’s athletic performance by providing benefits such as muscle enlargement and increased oxygen carrying capacity.
The Performance Enhancing Drugs Market is expected to exhibit a strong 6.6% CAGR over the forecast period from 2022-2030.
Growing acceptance of performance enhancing drugs among amateur bodybuilders and fitness enthusiasts is the major driver for the market.
The Americas dominate the Global Performance Enhancing Drugs Market.
Leading players in the Performance Enhancing Drugs Market include Novo Nordisk, Taj Pharmaceuticals, and Bayer AG, among others.
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