(USA, NY, New York City) Anti-ageing drugs are no longer taboo even in dusky small towns. Today’s women even from developing countries are as modern and demanding as their western counterparts. Thus we expect the differential between west and east regarding anti-ageing drugs to fall from its colossal heights of the 80’s! 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.
This, in turn, is projected to have a positive impact on the growth of the market. The market is at its nascent stage which makes it lucrative for the new entrants. Investments in research and development activities are poised to grow in the upcoming years. The constant addition of new products to the portfolios coupled with rising awareness is anticipated to aid the proliferation of the anti-ageing drugs market. However, the availability of counterfeit products remains an impediment to market growth.
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Some of key players profiled in the report are Nu Skin, BIOTIME, INC., Elysium Health Inc., La Roche-Posay, DermaFix, L’ORÉAL, and others.
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.
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The market of anti-ageing drugs is much higher in the Americas region. There are several factors for tremendous growth of the anti-ageing drugs market in this region such as high disposable income, increasing awareness of aesthetic looks, and increasing awareness about ageing signs. According to U.S. Census Bureau, Around 83.1 million are millennial present in United Nation which represent more than one quarter of the national population.
Europe is also consider huge market for anti-aging drugs players, owing to present of huge ageing population. Moreover, the population within the reason are more aware about the healthcare in comparison to other region like Asia Pacific and The Middle East and Africa.
Asia Pacific and the Middle East and Africa region are considering the big opportunity for the market players owing to changing life style. Whereas country like India and china of Asia Pacific region are considering fastest growing region. These countries are open to adopt new drugs from developed countries in order to improve the quality of life for their citizen. In 2014, it is expected that anti-ageing drugs market growth in Japan would be higher in compared to other Asian countries. Japan is well developed country and have well established healthcare system and technology, whereas developing countries are still focusing on new technology which lead to increase in the demand for various anti-ageing drugs. Most of the countries from these region such as India and China are investing more into research and development activity for introducing better drugs at nominal price.
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