Published on : Feb 21, 2018
ALBANY, New York, Feb 21, 2018: The report on the global anti-aging drugs market offers a comprehensive insight into the key growth drivers and constraining factors, notable trends, recent technological advances, prevailing regulatory landscape, and lucrative avenues in various regions. It offers a critical assessment of the competitive landscape and key focus areas of prominent vendors. The study offers a granular assessment of factors influencing the growth of key regional markets and highlights their revenue share in the global market. It further highlights the overall vendor landscape and the key innovations brought about by drug makers in major regions such as the Americas, the Europe, the Middle East, and Africa (EMEA), and Asia Pacific (APAC).
The worldwide anti-aging drugs market is projected to rise at a CAGR of 8.06% from 2017 to 2021.
A rising geriatric population in various parts of the world, especially in developing and developed nations, is the primary factor driving the demand for anti-aging drugs. In several economies, the intensifying demand for formulations extending the active life of elderly population, as well as for enhancing the quality of their life, is a crucial factor driving the market. This is attributed mainly to the need for reducing the burden of geriatric populations on the economy of various nations.
The rising disposable income of people in developing economies has increased the discretionary spending on healthcare in these nations. This is boosting the overall market. However, the elevated cost of product and stringent government regulations are notable factors likely to impede the growth of the anti-aging drugs market to an extent. Furthermore, the marked side effects with the use of facial aesthetic product formulation in recent years has adversely affected the market. Nevertheless, the advent of novel drugs that can effectively target senescent cells is a significant trend expected to boost the market.
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The accentuating demand for non-invasive or minimally treatment in cosmetology is a notable trend boosting the anti-aging drugs market. Recent technological advances, especially those that are related with pharmacological approaches to aging, are widening the scope of lucrative prospects in the market. Relentless research into new drug targets for age-related diseases is expected to lead to innovations. For instance, continuing research into new drug combinations for various senescent cell types targeted is anticipated to bode well for the market.
The major routes of administration of anti-aging drugs are injectable, oral, and topical. Of these, injectable accounted for the leading shares in the overall market in 2016.
Regionally, North America accounted for the dominant share of the global market in 2016. The dominance of the market can be attributed to the substantial investments made in the healthcare sector in key economies, particularly the U.S. The market presence of globally prominent pharmaceutical players, coupled with the rapid strides taken by the biopharmaceutical industry, in recent years is a noteworthy factor accounting for the attractiveness of this regional market. A burgeoning geriatric population and the consequent focus of governments to improve their quality of life are striking factors contributing to their expansion of the market.
A large number of players are focusing on topical pharmaceutical agents, injectable drugs, and hormone replacement therapy, in order to get a better foothold in the market. Investing in recent research and development activities for the management of spasticity and the treatment of wrinkles have helped several emerging players to gain a competitive edge over others. Top players operating in the anti-aging drugs market include Merz Pharma, Sanofi S.A., Galderma, and Allergan. Some of the other prominent players are Valeant Pharmaceuticals, Syneron, Suneva Medical, Sun Pharmaceuticals, SciVision Biotech, Revitacare, MMJ PhytoTech, Daewoong Pharmaceutical Co., Ltd., and Canbex Therapeutics.
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