Clinical therapeutics, dietary supplements and aesthetic solutions will propel the anti-aging market to hit $85.6 billion in five years, growing at a compound annual growth rate (CAGR) of 6.5 per cent from 2017 to 2022, a report said.
Drug-as-a-service model leveraging big data analytics, multi-ingredient products, and nanotechnology applications will create growth opportunities, added the analysis titled “Anti-aging Therapies & Services Market—Trends & Growth Opportunities” from growth partnership company Frost & Sullivan.
Technologies that will be key enablers in the anti-aging market include:
• Artificial Intelligence: AI-powered virtual assistant can help improve drug adherence as well as prevent adverse events. Additionally, AI-powered digital therapeutics will be crucial for driving digitally enabled customer engagement;
• Big Data & Analytics: Drug-as-a-service models will require seamless access to and analysis of patient healthcare data and will drive pharmaceutical and technology company collaborations;
• IoT & Cloud: Real-time telehealth/telemedicine applications, such as on-body trackers and diagnostic devices, will drive the need for IoT-enabled, cloud-based solutions; and
• Mobile Devices: The widespread prevalence of mobile devices will boost the growth of applications based on solutions for drug adherence, activity monitoring, as well as virtual assistance.
“The industry’s movement toward a ‘prevent-manage-repair’ approach to aging is creating opportunities for integrative methodologies for age management,” said Neelotpal Goswami, Global Transformational Health senior industry analyst at Frost & Sullivan.
“Key technology trends such as the use of digital enablers and drug-as-a-service will drive pharmaceutical and technology company collaborations.”
To benefit from these growth opportunities, savvy companies should:
• Adopt novel pharmacological approaches that target specific drivers of aging, such as telomeres, rapalogs, senescent cells, and mitochondria-based therapies;
• Develop regenerative medicine focused on cell and gene therapy;
• Enhance dietary supplements, personalized genome-based diets and fasting-mimetic diets that offer clinically validated results;
• Leverage digital therapeutics and digital pills powered by big data and analytics, artificial intelligence, cloud computing, and mobile technologies; and
• Foster aesthetic solutions that offer long-term results with minimum discomfort.
“Aging is the result of multiple physical pathways and processes, making it complicated to manage. Additionally, regulations are a key challenge for the industry, with aging still not being recognized as a disease by regulatory bodies, making it difficult for companies to position their products and solutions,” observed Goswami.
“However, these multiple pathways offer opportunities for multi-pronged pharmacological approaches focused on areas such as telomeres and senescent cells, as well as the use of regenerative medicine.”
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