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
SOURCE Frost & Sullivan