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.
Pune, India -- (SBWIRE) -- 01/12/2018 -- 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 primal demand to be young. The social and attitudinal aspects of a region or nation also have a large impact on the market and so is the influence of the media. Anti-aging drugs market is currently in its infant stage and there is a lot of scepticism about its future. 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.
Critical market constraints are scepticism, concerns of safety, stringent regulations and definition ambiguity etc. Many spurious 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. The definition issues are also huge as the Food and Drug Administration has repeatedly warned many producers of anti-ageing medicines of such claims. The definition of cosmeceuticals is not agreed by many administrative bodies. There are issues of counterfeit products and misbranding, which reduces the market for quality products from reputed manufacturers. Lack of experimental studies to validate the claims made by manufacturers has complicated the situation.
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Market strategies of players
Brand awareness and brand loyalty plays a critical role in the global anti-ageing drugs market. Established market players must focus on the product development as well as market development strategies. 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.
Collaboration and distribution agreements are another strategies taken by players. For example, Lakme has joined hands with HLL so as to reduce competition from similar brands from other companies. Cashing in on a single brand so as to build market position, brand and future market equity is an attractive market entry strategy.
Segments of Global Anti-ageing drugs Market
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.
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
Regional Analysis of Global Anti-ageing drugs Market
The Americas holds a significant market share followed by Europe. The high per capita income of the US, the presence of large innovative players in healthcare of the U.S. regions drive the anti-ageing drugs market. The ageing population of baby boomers is expected to propel the market in the US. 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
Europe is the second largest market in the globe due to a high healthcare expenditure and influence of media industry. Asia Pacific region is expected to grow rapidly; Japan, China and India are likely to lead the market due to unmet needs during the forecasted period. APAC is expected to grow at a higher CAGR of 15.3 % than the other regions because of increasing ageing population in this region.
Gulf nations such as Saudi Arabia and the UAE drive the Middle East & African market. The African region is expected to witness a moderate growth owing to poor economic and political conditions and poor healthcare development.
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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Major TOC Anti-Ageing Drugs Market:
1 Report Prologue
2.2 Scope of Study
2.3 Research Objective
2.4 Assumptions & Limitations
2.5 Market Structure
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
4 Market Dynamics
4.1.1 Rising ageing population
4.1.2 Primal desire of humans to remain young
4.1.3 Influence of lifestyle industry and rising awareness
4.1.4 High levels of disposable incomes
4.2.1 Scepticism and concerns of safety
4.2.2 Stringent regulations and definition ambiguity
4.3.1 Advancement in technologies and cellular understanding
4.3.2 Mergers, acquisitions and strategic alliances
4.4.1 Steep competition
4.4.2 Ethical issues
4.4.3 Dubious and spurious products
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