Rising prevalence of chronic diseases, increased awareness of anti-aging products, and advancements in AI-driven medical technology are driving the growth of the global longevity and anti-senescence therapies market.
PORTLAND, Oregon., April 19, 2022 /PRNewswire/ — Allied Market Research has released a report titled, “Longevity and Anti-Senescence Therapy Market By Therapy (Senolytic Drug Therapy, Gene Therapy, Immunotherapy), By Application (Cancer, Others), By End User (Hospital, Medical Service Institution): Global Opportunities Analysis and Industry Forecast, 2020-2030. » According to the report, the global longevity and anti-senescence therapy industry generated $25.1 billion in 2020, and should reach $44.2 billion by 2030, with a CAGR of 6.1% from 2021 to 2030.
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Drivers, constraints and opportunities
Rising prevalence of chronic diseases, increased awareness of anti-aging products, and advancements in AI-driven medical technology are driving the growth of the global longevity and anti-senescence therapies market. However, shortage of skilled professionals and loss of tissue repair capability is restraining the growth of the market. On the other hand, the increasing demand for cellular analyzes in R&D activities presents new opportunities in the coming years.
Covid-19 scenario
- Due to the containment measures put in place during the Covid-19 pandemic, the closure of various manufacturing facilities and issues with product transportation have created a gap between supply and demand. This led to a decline in sales of longevity products.
- Additionally, non-elective surgeries such as implants or anti-aging surgeries have been canceled or postponed to focus on treating Covid-19 infected patients and avoid the possibility of cross-contamination.
The Gene Therapy Segment to Maintain Its Leading Position During the Forecast Period
Based on therapy, the gene therapy segment contributed the highest market share in 2020, holding approximately two-thirds of the global longevity and anti-senescence therapy market, and is expected to maintain its leading position. during the forecast period. This is due to the increasing prevalence of chronic diseases and increased awareness of anti-aging products. However, the senolytic drug therapy segment is expected to show the highest CAGR of 6.5% from 2021 to 2030, owing to advancements in AI-driven medical technology and increasing geriatric population.
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The hospital segment will maintain its leadership throughout the forecast period
On an end-user basis, the hospital segment accounted for the highest market share in 2020, contributing more than half of the global longevity and anti-senescence therapies market, and is expected to maintain its leading status throughout. throughout the forecast period. This is attributed to the increasing prevalence of chronic diseases in developed and developing countries and the increased demand for longevity and anti-senescence therapy. However, the medical service establishments segment is expected to show the highest CAGR of 6.5% from 2021 to 2030, owing to increase in government initiatives and rise in adoption of anti-aging products.
North America maintain revenue dominance by 2030
Based on the region, North America held the highest market share by revenue in 2020, accounting for more than a third of the global longevity and anti-senescence therapy market, and is expected to maintain its dominance by revenue by 2030. anti-aging products, the availability of advanced healthcare facilities with skilled healthcare professionals, and the presence of key market players. However, Asia Pacific is expected to show the fastest CAGR of 6.9% during the forecast period, owing to the increase in demand for anti-aging products and the availability of advanced healthcare facilities with healthcare professionals. qualified health.
Main market players
- AgeX Therapeutics, Inc.
- Bristol-Myers Squibb Company
- Calico Life Sciences LLC
- CohBar, Inc.
- Life Biosciences, Inc.
- Merck & Co., Inc.
- Oisin Biotechnology
- Pfizer Inc.
- TA Sciences, Inc.
- Unit Biotechnology, Inc.
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