Longevity and Anti-senescence Therapy Market Expected to Reach $44.2 Billion by 2030

The longevity and anti-senescence therapy market size was valued at $25.1 billion in 2020, and is estimated to reach $44.2 billion by 2030, growing at a CAGR of 6.1% from 2021 to 2030. Longevity is understood as a by-product of genes selected for their contribution in helping the organism to survive with enhanced life expectancy. The anti-aging research refers to slowing, preventing, or reversing the aging process. The molecular mechanisms accounting for the development of senescent-associated secretory phenotype (SASP) and the ones providing senescent cells maintenance supplied insights for the development of mechanisms to target senescent cells. Various approaches have been proposed to target cell senescence, either by inducing the death of senescent cells or by blocking the SASP.

The major factors that drive the growth of longevity and anti-senescence therapy market share are increase in prevalence of chronic diseases, rise in awareness about anti-aging products, and advancements in AI driven medical technology. Moreover, increase in geriatric population and increase in demand for personalized, precise, preventive, and participatory aging treatments contribute toward the growth of the market. However, dearth of skilled professionals and loss of tissue-repair capacity restrain the market growth during the forecast period. Conversely, increase in demand for cell-based assays in R&D are expected to offer lucrative growth opportunities for the market.

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.

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.

Depending on therapy, the longevity market is classified as senolytic drug therapy, gene therapy and immunotherapy. Gene therapy segment dominated the market in 2020, and is anticipated to remain dominant during the forecast period, due to increase in spread of awareness about longevity and antisenescence therapy, rise in prevalence of the chronic diseases, and effective product launches.

Depending on application, the Longevity and anti-senescence therapy market analysis is classified as cancer and others. Cancer segment dominated the market in 2020, and is anticipated to remain dominant during the forecast period, due to rise in demand for antiaging products and rise in disposable income.

According to end user, the longevity market is classified as hospitals and medical service institution. Hospitals dominated the market in 2020, and is anticipated to remain dominant during the forecast period, due to high usage of anti-aging products in hospitals for chronic diseases and advancements in AI driven medical technology.

North America dominated the longevity and anti-senescence therapy industry in 2020, and is expected to remain dominant throughout the forecast period. This is attributed to increase in incidence of chronic heart diseases, surge in demand for anti-aging products, rise in availability of advanced healthcare facilities with trained medical professionals, surge in number of R&D activities along with presence of key players, and growth in government investments in the healthcare system. However, Asia-Pacific is expected to experience highest growth rate during the forecast period. Moreover, Japan and China are expected to grow at the highest CAGR in Asia-Pacific, due to improvement in healthcare infrastructure, rise in number of hospitals equipped with advanced instruments, development of the R&D sector, rise in healthcare reforms, and technological advancements in the field of longevity and anti-senescence.

According to Onkar Sumant, Manager, Healthcare at Allied Market Research, “Factors that drive the growth of the global longevity and anti-senescence therapy market include increase in prevalence of chronic diseases, rise in awareness about anti-aging products, and advancements in AI driven medical technology. However, the dearth of skilled professionals and loss of tissue-repair capacity are expected to hinder the market growth during the forecast period. Conversely, increase in demand for cell-based assays in R&D are expected to offer lucrative growth opportunities for the market."

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.