Market Synopsis of Global Anti-ageing drugs Market
Anti-aging drugs are used to slow down or reverse the process of aging in order to extend the lifespan. The process of aging, causes damage to the body’s macromolecules, cells, tissues a variety of ways such as genomic instability, epigenetic alterations, loss of proteostasis, mitochondrial dysfunction, cellular senescence, stem cell exhaustion, oxidation damage by free radicals etc. Anti-aging drugs market is currently in its infant stage and there is a lot of scepticism about its future. Advancement in technologies and cellular understanding is the key to unravel the mysteries of ageing. According to the World Health Organization (WHO), the proportion of the world’s population over 60 years between 2015 and 2050 will nearly double from 12% to 22%. Further, as per WHO estimates, by 2020, the number of people aged 60 years and older will outnumber children younger than 5 years and by 2050, 80% of older people will be living in low- and middle-income countries.
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The global anti-ageing drugs market is driven by factors such as the rising number of ageing population, growing demand for anti-aging drugs, influence of media and fashion industry, and growing demand to be young and healthy. Thus, being young is the primal desire of humans from time immemorial. Critical market constraints are scepticism, concerns of safety, stringent regulations and definition ambiguity etc. Many nutritional products with dubious claims are easily available on the web, that has spurred a flood of self-proclaimed experts proposing growth hormones, skin-care products, beta glucan, and a variety of dietary and nutritional supplements with claims that are difficult to validate. This concern has been expressed by many citizen bodies as well as media. Numerous cosmetics have been included or claimed to have anti-aging effects and have been termed as cosmeceuticals. The Food and Drug Administration has repeatedly warned many producers of anti-ageing medicines of such claims.
Thus, counterfeit products is a menace in the anti-ageing products which reduces the market for quality products from reputed manufacturers. Misbranding is another issue, as many supplements have been branded as having an anti-ageing effect based on unreliable sources. Thus brand awareness and brand loyalty plays a critical role in the global anti-ageing drugs market. Established market players must focus on experimental studies to validate the claims made by the product. Maintaining market equity is of utmost importance as the market is highly integrated and specialized. Lack of any effective drug is likely to make any novel drug an immediate market leader with minimal marketing cost and efforts.
The global anti-ageing drugs market is expected to reach USD 124,896.6 million by 2023, and the market is projected to grow at a CAGR of ~ 13.3 % during the forecast period 2017-2023.
- Serums and supplements segment commanded the largest market share in 2016 and is expected to reach USD 51,590.5 million by the end of 2023. Furthermore, stem cells segment is expected to be the fastest growing market which is expected to grow at a CAGR of 16.6 % during the forecast period 2017-2023
- Skin and hair segment commanded the largest market share in 2016. This market is expected to reach USD 72,222.3 million by 2023, at a CAGR of 15.9 % during the forecast period 2017-2023
- North America held the largest market share in 2016. This market is expected to reach USD 42,470.5 million by 2023, at a CAGR of 13.4 % during the forecast period of 2017-2023
The global anti-ageing drugs market has been segmented on the basis of drug class and applications. On the basis of drug class, the market is segmented into serums and supplements, antioxidants and enzymes, stem cells and drugs. On the basis of application, the market is segmented into skin and hair, skeletal and muscles, age related disorders and others.
TABLE OF CONTENTS
1 REPORT PROLOGUE
2.1 Definition 13
2.2 Scope Of Study 13
2.3 Research Objective 13
2.4 Assumptions & Limitations 14
2.4.1 Assumptions 14
2.4.2 Limitations 14
2.5 Market Structure 14
3 RESEARCH METHODOLOGY
3.1 Research Process 15
3.2 Primary Research 16
3.3 Secondary Research 16
3.4 Market Size Estimation 16
4 MARKET DYNAMICS
4.1 Drivers 18
4.1.1 Rising Ageing Population 18
4.1.2 Primal Desire Of Humans To Remain Young 18
4.1.3 Influence Of Lifestyle Industry And Rising Awareness 18
4.1.4 High Levels Of Disposable Incomes 18
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Key Players in the Global Anti-Ageing Drugs Market
Some of key players profiled in the report are Nu Skin, BIOTIME, INC., Elysium Health Inc., La Roche-Posay, DermaFix, L’ORÉAL, and others.
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