Market Analysis:
The global performance enhancing drugs
market is predicted to grow at a 4.8% CAGR over the forecast period (2017-2023),
as per the latest Market Research Future (MRFR) report. Performance enhancing
drugs, simply put, are different substances, procedures, or chemical agents
that are designed to offer advantages during athletic performance. These drugs
affect the body in various ways, such as increasing the oxygen-carrying
capacity of the blood and also enlarge muscles. Performance enhancing drugs
helps the body in recovering from workouts quickly. This drug can be taken as a
topical treatment, injection, or a pill.
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Various factors are propelling the
performance enhancing drugs market growth. These factors, as stated by the MRFR
report, include rising use of anabolic steroids to treat various medical
conditions such as anemia, pain management, and certain types of breast cancer,
availability of huge funds for research and development activities, and various
benefits for athletes such as muscle enlargement and increased blood’s oxygen
carrying capacity.
On the contrary, the use of
performance enhancing drugs leads to numerous side effects such as heart attack
and masculinization and heart attack in females, and diminished sperm
production and acne in males. This may impact the performance enhancing drugs
market growth over the forecast period.
Key Players:
Eli
Lilly and Company. (US), Onnit Labs, LLC. (US), Douglas Laboratories. (US),
BrainAlert, LLC (US), Novo Nordisk A/S (Europe), AstraZeneca (Europe), Bayer AG
(Europe), Balkan Pharmaceuticals (Europe), and Taj Pharmaceuticals Limited
(India
Market Segmentation:
The Market Research Future report
provides a wide segmental analysis of the Performance
Enhancing Drugs Market based on products, types, and end users.
Based on types, the performance
enhancing drugs market is segmented into nootropic, ergogenic aids, and others.
The ergogenic aids segment is again segmented into human growth hormone,
dehydroepiandrosterone (DHEA), anabolic steroids, and others. The nootropic
segment is further segmented into choline and acetylcholine intermediates,
ampakines, racetams, and others.
Based on products, the performance
enhancing drugs market is segmented into patches, injections, pills, and
others.
Based on end users, the performance
enhancing drugs market is segmented into militaries, students, bodybuilders,
athletes, and others.
Regional Analysis:
Based on the region, the performance
enhancing drugs market report covers the latest trends and growth opportunities
across Europe, the Americas, the Asia Pacific (APAC), and the Middle East and
Africa. Of these, the Americas will dominate the market over the forecast
period. This is owing to the presence of well-developed economies having high
per capita income, especially in Canada and the US, the two major contributors
of the region. Moreover, the rising prevalence of breast cancer incidences is
likely to push market growth as anabolic steroids is used for treating various
forms of breast cancer.
The performance enhancing drugs market
in Europe is predicted to have the second-largest share in the market over the
forecast period. This is owing to rising acceptance of performance-enhancing
drugs in the region and accessibility of funds for R&D activities.
The performance enhancing drugs market
in the APAC region is predicted to grow at the fastest pace over the forecast
period. This is owing to the presence of immense opportunity in the market,
continuously developing economies, and rising awareness about performance
enhancing drugs. Moreover, immense growth opportunities in this region, the
presence of constantly developing economies, and increasing awareness regarding
fitness are also boosting the market growth.
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The performance enhancing drugs market
in the Middle East and Africa is predicted to have the least share in the
market over the forecast period. This is owing to the presence of a poor
economy in the African region. A major part of the market share is held by the
Middle East, owing to huge healthcare expenditure and a well-developed
healthcare sector.
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