Global anti-aging drugs market is expected to flourish at a robust compound annual growth rate (CAGR) of 6.9% during the forecast period 2017-2024.
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Anti-aging drugs are combination of advanced biotechnology and clinical preventing medicines which are used for prevention and treatment of age related disorders and diseases. Anti-aging drugs are used especially by baby boomer generation and also by those consumers who are more concern about their looks and health.
These drugs are used to reverse the effect of age on the body. Further, many medical technologies are being developed aiming to delay the aging process.
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Market Size & Forecast
Global anti-drugs market is anticipated to reach at a valuation around USD 87.2 Billion by the end of 2024. Rising health consciousness and advancement in medical science are the factors which are fostering the growth of global anti-aging drugs market over the forecast period.
Geographically, global anti-aging drugs market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America stood with highest market share of global anti-aging drugs market in 2016.
North America is anticipated to flourish at a significant pace during forecast period owing to the factors such as rising spending on healthcare, increasing plumpness among people and rising consciousness towards signs of aging.
Europe region is expected to be the second largest market of anti-aging drugs due to various factors such as increasing disposable income and rising consciousness towards look and healthcare among people. Further, Europe is expected to witness satisfactory growth over the forecast period.
On the other hand, Asia Pacific region is expected to flourish at highest compound annual growth rate (CAGR) over the forecast period owing to factors such as population explosion and development and availability of new anti-aging products in this region. India and China are expected to be the key countries propelling the growth of anti-aging drugs market in Asia Pacific region.
Our-in depth analysis of the global anti-aging drugs market includes the following segments:
- Baby Boomers
- Generation X
- Generation Y
- Generation Z
By Drug Class
- Hormonal Therapy
- Stem Cells
Growth Drivers & Challenges
The growth of global anti-aging drugs market is primarily driven by rising awareness toward age related problems and increasing concerns about looks and appearance among people across the globe. Advancement in medical science and development of new anti-aging drugs are some of the major factors which are anticipated to bolster the growth of anti-aging drugs market over the forecast period.
Moreover, rising number of baby boomer generation people and their rising inclination towards anti-aging drugs are expected to propel the growth of global anti-aging drugs market in near future.
This report also provides the existing competitive scenario of some of the key players of the global anti-aging drugs market which includes company profiling of Nu Skin Enterprises, Novartis AG, BioTime Inc., Elysium Health Inc., Estee Lauder Inc., DermaFix, Bayer Pharma AG, La Roche-Posay, ARK Skincare and L’Oreal SA. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global anti-aging drugs market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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