Drug-as-a-service model leveraging big data analytics, multi-ingredient products and nanotechnology applications will create growth opportunities, finds Frost & Sullivan
SANTA CLARA, California, June 6, 2018 /PRNewswire/ -- The anti-aging industry is experiencing a paradigm shift toward embracing an age prevention-management-treatment continuum that is focused on health span rather than lifespan-driven metrics. This transformation will drive new growth opportunities for providers offering integrative solutions combining the three market segments-conventional therapies, dietary supplements, and aesthetic procedures, devices and products-delivered using digital enablers.
Frost & Sullivan, in partnership with A4M.com, has recently released its analysis, Anti-aging Therapies & Services Market-Trends & Growth Opportunities, which provides an assessment of trends, challenges, and growth opportunities tied to emerging anti-aging therapies and services. Business models, market dynamics, technology applications, and investment opportunities are also discussed. This market is forecast to reach $85.6 billion, growing at a compound annual growth rate (CAGR) of 6.5 percent from 2017 to 2022.
For further information on this analysis, please visit: http://frost.ly/2ip
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."
Anti-aging Therapies & Services Market-Trends & Growth Opportunities is part of Frost & Sullivan's Transformation Health - Life Sciences Growth Partnership Service program.
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Anti-aging Therapies & Services Market-Trends & Growth Opportunities
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