Market Scenario
Performance enhancing drugs are chemical agents designed to provide an advantage in athletic performance. Muscle enlargement, increased blood’s oxygen carrying capacity are some of the effects induced by the consumption of the performance enhancing drugs. In 2015, according to Health Research Funding ~1,084,000 Americans were reported to use anabolic performance enhancing drugs. Along with such trends in the usage of the performance enhancing drugs, increasing acceptance is facilitating the market growth. Approximately 57% of the steroid users said that they would continue to use steroids even if it shortens there life. Moreover, increasing use of the anabolic steroids for the treatment of medical conditions such as anaemia, certain kinds of breast cancer besides others is expected to fuel the market growth during the forecasted period.
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However, the use of such drugs leads to various side effects. Some of the side effects observed in males are acne, diminished sperm production; in females, masculinization, heart attack, etc. Moreover, in 2014 according to the Health Research Funding, the percentage of positive tests for anabolic drugs doping in world was about 50.6%. Such cases of doping made the governments to formulate strict guidelines for the usage and sales of performance enhancing drugs. This is expected to restrict the market growth during the forecasted period.
The global market for performance enhancing drugs is expected to grow at an approximate CAGR of 4.8%.
Top Key players
The key players in 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.
Segmentation
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, others.
On the basis of the products, the market is categorised into pills, injections, patches, and others
On the basis of end users, the market is segmented into athletes, body builders, students, militaries, and others.
Regional Analysis
Asia Pacific is the fastest growing region for the market due to the increasing awareness of the performance enhancing drugs, continuously developing economies, and presence of huge opportunity in the market.
The Americas dominates the global performance enhancing drugs market owing to the presence of well-developed economies with high per capita income within the region like the U.S. and Canada. In 2017, according to the American Cancer Society in the U.S., about 252,710 new cases of invasive breast cancer diagnosed in women. Moreover, it is predicted that by the end of 2017, 40,610 women would die from breast cancer. This will boost the market growth during the forecasted period as anabolic steroids can be for the treatment of certain types of breast cancer.
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.
On the other hand, the Middle East & Africa owns the least share of the global performance enhancing drugs market due to presence of poor economy, 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 huge healthcare expenditure.
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Detailed Table of Contents:
1. Report Prologue
2. Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
…Continued
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