The global performance enhancing drugs market is expected to grow at an approximate CAGR of 4.8% during the forecast period.
Performance enhancing drugs are the chemical agents that are used to enhance the athletic performance. The use of such drugs induces various effects on the body of the recipient, which includes muscle enlargement, increased blood’s oxygen carrying capacity, and many others. Majority of the performance enhancing drugs are used as ergogenic aids. However, nootropic class of performance enhancing drugs are used to improve mental abilities. In 2015, according to Health Research Funding, ~1,084,000 Americans were reported to use anabolic performance enhancing drugs. Approximately 57% of the steroid users said that they wold continue to use steroids even if it shortens there life. Such trends in the usage and acceptance of the performance enhancing drugs are projected to drive the market growth during the forecasted period. However, the market is set to be restrained by the associated side effects such as acne, heart attacks, masculinization in females, and others. Additionally, stringent government policies for the sales and usage of the performance enhancing drugs may restrain the market growth during the forecasted period.
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The key players for the global performance enhancing drugs market are 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.), and others.
The Americas dominates the global performance enhancing drugs market due to the presence of well-developed economies like the U.S. and Canada, which have high per capita healthcare expenditure. In 2017, according to the American Cancer Society in the U.S., about 252,710 new cases of invasive breast cancer were diagnosed in women. Moreover, it is predicted that by the end of 2017, 40,610 women would die from breast cancer. This is projected to boost the market growth during the forecasted period because certain anabolic steroids can be used for the treatment of certain types of breast cancer.
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Europe is the second largest performance enhancing drug market, which is followed by Asia Pacific. Availability of funds for research and increasing acceptance of the performance enhancing drugs within the region likely to boost the market growth during the forecasted period.
Asia Pacific is the fastest growing region for the market due to the increasing acceptance of the performance enhancing drugs, presence of huge opportunity in untapped the market, and presence of developing economies within the region such as China and India.
On the other hand, the Middle East & Africa has the least share in the global performance enhancing drugs market due to presence of poor economy and stringent government policies, especially, in Africa region. Majority of the market of this region is held by the Middle East due to a well-developed healthcare sector and rising healthcare expenditure.
The global performance enhancing drugs market is segmented on the basis of types, products, and end users.
On the basis of types, the market is segmented into ergogenic aids, nootropic, and others. The ergogenic aids segment by types is sub-segmented into anabolic steroids, dehydroepiandrosterone (DHEA), human growth hormone, and others. The nootropic segment by types is further segmented into racetams, ampakines, choline & acetylcholine intermediates, and others. On the basis of the products, the market is categorized into pills, injections, patches, and others. On the basis of the end users, the market is segmented into athletes, body builders, students, militaries, and others.
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LIST OF TABLES
Table 1 Performance Enhancing Drugs Industry Synopsis, 2017 – 2023
Table 2 Global Performance Enhancing Drugs Market Estimates And Forecast, 2017 – 2023, (USD Million)
Table 3 Global Performance Enhancing Drugs Market By Region, 2017 – 2023, (USD Million)
Table 4 Global Performance Enhancing Drugs Market By Types, 2017 – 2023, (USD Million)
Table 5 Global Performance Enhancing Drugs Market By Products, 2017 – 2023, (USD Million)
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