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Longevity and Anti-senescence Therapy Market To Rise With Spectacular Growth by 2030

PORTLAND, OREGON, UNITED STATES, August 8, 2022 /EINPresswire.com/ -- Allied Market Research published 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 Opportunity 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 is expected to reach $44.2 billion by 2030, witnessing a CAGR of 6.1% from 2021 to 2030.

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Coronavirus (COVID-19) was discovered in late December in Hubei province of Wuhan city in China. The disease is caused by a virus, namely, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted among humans. Amidst the initial outbreak of COVID-19, number of patients to undergo implant surgery declined, owing to the fear of infection during pandemic. Moreover, the demand for the antiaging treatment products was reduced. The production plants of the antiaging products were shut down during the lockdown imposed by the governments across the globe. In addition, lockdown created a financial crisis among the market players. This led to disturbances in import and export of anti-aging products across the countries. It was slightly positive amid the COVID-19 pandemic with an increase observed in prevalence of cardiovascular diseases, neural degenerative diseases, ophthalmology disorders, and cancer. For instance, according to data by the American Heart Association, in 2020, average person in the U.S. has a stroke every 40 seconds, accounting for one out of every 19 deaths. Overall, COVID-19 negatively impacted the longevity and anti-senescence therapy market. This was attributed to decrease in demand for anti-aging treatment products. Moreover, market players reduced investment in raw materials and resources, owing to decrease in number of hospital admissions of patients to undergo antiaging treatment.

Drivers, Restraints, and Opportunities:

Rise in prevalence of chronic diseases, surge in awareness about anti-aging products, and advancements in AI-driven medical technology drive the growth of the global longevity and anti-senescence therapy market. However, dearth of skilled professionals and loss of tissue-repair capacity restrain the market growth. On the other hand, surge in demand for cell-based assays in R&D activities presents new opportunities in the coming years.

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The hospital segment to maintain its leadership status throughout the forecast period

Based on end user, the hospital segment accounted for the highest market share in 2020, contributing to more than half of the global longevity and anti-senescence therapy market, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to rise in prevalence of chronic diseases in both developed and developing countries and rise in demand for longevity and anti-senescence therapy. However, the medical service institution segment is expected to manifest the highest CAGR of 6.5% from 2021 to 2030, owing to increase in government initiatives and rise in the adoption of anti-aging products.

North America to maintain its dominance in terms of revenue by 2030

Based on region, North America held the highest market share in terms of revenue in 2020, accounting for more than one-third of the global longevity and anti-senescence therapy market, and is projected to maintain its dominance in terms of revenue by 2030. This is due to surge in demand for anti-aging products, availability of advanced healthcare facilities with trained medical professionals, and presence of key market players. However, Asia-Pacific is projected to portray the fastest CAGR of 6.9% during the forecast period, owing to rise in demand for anti-aging products and availability of advanced healthcare facilities with trained medical professionals.

Leading Market Players

AgeX Therapeutics, Inc.
Bristol-Myers Squibb Company
Calico Life Sciences LLC
CohBar, Inc.
Life Biosciences, Inc.
Merck & Co., Inc.
Oisin Biotechnologies
Pfizer Inc.
T.A. Sciences, Inc.
Unity Biotechnology, Inc.

The global longevity and anti-senescence therapy market size is segmented on the basis of therapy, application, end user and region. Depending on therapy, it is categorized into senolytic drug therapy, gene therapy and immunotherapy. On the basis of application, the market is classified as cancer and others. According to end user, it is classified into hospitals and medical service institution. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Increase in prevalence of chronic diseases, rise in awareness about antiaging products, and advancements in AI driven medical technology drive the growth of the longevity and anti-senescence market. Moreover, increase in geriatric population and increase in demand for personalized, precise, preventive, and participatory aging treatments drive the market growth. However, dearth of skilled professionals and loss of tissue-repair capacity impede the market growth. Moreover, the increase in demand for cell-based assays in R&D are expected to provide lucrative growth opportunities for key players.

KEY FINDINGS OF THE STUDY

♦ Depending on therapy, the gene therapy segment held majority share in the global longevity and anti-senescence therapy market forecast in 2020.
♦ Depending on application, the cancer segment held majority share in the global market in 2020.
♦ According to end user, the hospitals segment held majority share in the global market in 2020.
♦ Region wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 6.9% during the forecast period.

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

David Correa
Allied Analytics LLP
800-792-5285
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