Anti-Aging Drugs Market Scope
Anti-aging drugs are generally used to slow down or reverse the process of aging aiming to extend the healthy lifespan. It is the combination of advanced biotechnology and clinical preventing medicines which is used for prevention and treatment of age associated disorders and diseases. Further, many medical technologies are being developed in order to delay the aging process. Also, the advancements in medical science and rising health consciousness among people are the key factors boosting the market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | Nu Skin Enterprises (United States), Novartis AG (Switzerland), BioTime Inc. (United States), ARK Skincare (United Kingdom), Elysium Health Inc. (United States), Estee Lauder Inc. (United States), DermaFix (South Africa), Bayer Pharma AG (Germany), La Roche-Posay (United States) and L’Oreal SA (France) |
CAGR | % |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Anti-Aging Drugs market throughout the predicted period.
Nu Skin Enterprises (United States), Novartis AG (Switzerland), BioTime Inc. (United States), ARK Skincare (United Kingdom), Elysium Health Inc. (United States), Estee Lauder Inc. (United States), DermaFix (South Africa), Bayer Pharma AG (Germany), La Roche-Posay (United States) and L’Oreal SA (France) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Anti-Aging Drugs market by Type , by Application (Skin and Hair, Skeletal and Muscles, Age Related Disorders and Others) and Region with country level break-up.
On the basis of application, Skin and Hair segment is dominating the market in the year 2023 where as Age Related Disorders segment stood as second largest market.
On the basis of geography, the market of Anti-Aging Drugs has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Asia Pacific on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
On 20 Dec 2018, Novartis today announced an offer to acquire CellforCure from LFB. CellforCure, a French company, is one of the first and largest contract development and manufacturing organizations (CDMO) producing cell and gene therapies in Europe.
On 21 Dec 2018, Novartis today announced that it has completed the acquisition of Endocyte, Inc., a US-based biopharmaceutical company focused on developing radioligand and CAR-T therapies for cancer treatment.
Under the law, cosmetics must be safe when consumers use them according to product labeling, or the way in which the products are customarily used. But the law does not require cosmetics to be approved by FDA before they go on the market. Drugs, however, must have FDA approval for both safety and effectiveness before they go on the market. Similarly, medical devices must go through FDA’s clearance process.
Influencing Trend:
Primitive desire of people to remain young
Market Growth Drivers:
Rising awareness toward age related problems and increasing concerns about looks and appearance among people, Advancement in medical science and development of new anti-aging drugs and Growing aged population worldwide
Challenges:
Intense competition across the globe
Restraints:
Stringent regulations and definition ambiguity
Opportunities:
New advanced technologies and cellular understanding
Key Target Audience
Manufacturers of anti-aging drugs, Suppliers of anti-aging drugs components, Wholesalers, distributers and retailers of anti-aging drugs, Research and development companies, Hospitals & clinics and Academic institutes and universities