Global Anti-aging Drugs Market 2017-2021
About Anti-aging Drugs
Aging can be explained as a process that accumulates changes in an organism over time. It is a continuous process that starts from birth and encompasses several factors such as physical, social, and psychological changes. Although a continuous process, it is seen differently in different phases of age. A baby’s first tooth is accepted with a much higher positive response than the advent of wrinkles or greying of hair. Youth is highly valued and celebrated in almost all cultures globally, and this provides huge scope for the global anti-aging drugs market. As a person grows older, trillions of cells present in the body change constantly. While many cells get destroyed and die, many new cells also form every minute, which leads to the growth of the body. Aging affects different parts of the body differently. Aging is an inevitable process and common in all organisms. However, there are many factors which contribute to the early or late onset of aging.
Technavio’s analysts forecast the global anti-aging drugs market to grow at a CAGR of 8.06% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global anti-aging drugs market for 2017-2021. To calculate the market size, the report considers the sales of various drugs in the market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Anti-aging drugs market 2017-2021
Technavio recognizes the following companies as the key players in the global anti-aging drugs market: Allergan, Galderma, Merz Pharma, and Sanofi
Other Prominent Vendors in the market are: Canbex Therapeutics, Daewoong Pharmaceutical, MMJ PhytoTech, Revitacare, SciVision Biotech, Sun Pharmaceuticals, Suneva Medical, Syneron, and Valeant Pharmaceuticals.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Technological advancements. Continuous technological advancements are taking place in the global anti-aging drugs market. Vendors have introduced advanced collagen-based materials such as bovine collagen and bioengineered human collagen, which contain lidocaine as dermal fillers. The use of lidocaine can reduce ecchymosis (a discoloration due to internal bleeding) and edema by inhibiting the activation of eosinophils, which reduces the risk of bruising. Other significant dermal fillers contain hyaluronic acid, calcium hydroxylapatite, poly-L-lactic acid, and botulinum toxin A. Belotero, a range of hyaluronic acid-based dermal fillers designed for the reduction of facial lines and wrinkles, was awarded the best injectable product of the year in 2014 at the Aesthetics Awards in London, UK. Belotero dermal fillers are tailored to meet the needs of distinct facial areas and injection planes. Its distinctive feature is its ability to integrate into the skin while producing subtle and natural results.”
According to the report, one of the major drivers for this market is Growing disposable income and healthcare expenditure in developing countries. Growing disposable income in developing countries such as India and China has attracted investors from around the world. APAC holds the largest share of the global population and has the largest share of the global geriatric population. At present, Japan has the world’s largest aging population. According to data provided by the US census in 2015, Japan topped the list for the oldest country in the world. By 2050, South Korea, Hong Kong, and Taiwan are expected to follow Japan with the highest percentage of geriatric population. India and China together hold the largest percentage of the global geriatric population owing to their vast populations which are continuously increasing. Aging population accompanied with growing disposable income in developing countries would lead to the high demand for anti-aging aesthetic drugs and will create substantial opportunities for the global anti-aging drugs market.
Further, the report states that one of the major factors hindering the growth of this market is Side effects associated with facial aesthetic products use. Despite being minimally invasive in nature, all medical procedures and the products used in the procedures have a defined set of risks as side effects. The popular aesthetic products used in cosmetology such as BOTOX and dermal fillers also have their own set of side effects alog with the defined benefits. For instance, BOTOX is prepared from a neurotoxin called botulinum toxin and can have major side effects on user’s neural system. These side effects can range from trouble breathing to loss of strength including blurred vision, muscle weakness, and trouble in speaking etc. These side effects vary from user to user and depend on various variable factors such as type, quantity, and duration of exposure, to name a few. Considering the growing awareness amongst users, such defined side effects could further discourage the users which ultimately will lead to less adoption rate, thereby, hurting the market growth. In addition, the alternative cosmetic solutions such as laser and radio frequency energy treatment will further create hurdles for products like BOTOX and dermal fillers where use of traditional needle is must.
Allergan, Galderma, Merz Pharma, and Sanofi, Canbex Therapeutics, Daewoong Pharmaceutical, MMJ PhytoTech, Revitacare, SciVision Biotech, Sun Pharmaceuticals, Suneva Medical, Syneron, and Valeant Pharmaceuticals.
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