The global longevity and anti-senescence therapy industry generated $25.1 billion in 2020 and is expected to reach $44.2 billion by 2030, according to a new report.
The Longevity and Anti-senescence Therapy Market report is published by Allied Market Research.
Growth in the market is reportedly being driven by a rise in prevalence of chronic diseases, increasing awareness about anti-ageing products and advancements in AI-driven medical technology.
The gene therapy segment contributed to the highest market share in 2020, the report states, accounting for two-thirds of the market.
It is expected to maintain it position for the duration of the forecast period.
However, the senolytic drug therapy segment is expected to manifest the highest CAGR of 6.5 per cent from 2021 to 2030 due to advancements in AI-driven medical technology and the rising geriatric population.
A surge in demand for cell-based assays in R&D activities also presents new opportunities, the report states.
Hospital segment to maintain dominance
The hospital segment accounted for the largest market share in 2020 based on end user, contributing to more than half of the market.
The report anticipates that the segment will hold this position due to surging demand for anti-ageing products, the availability of advanced healthcare facilities and the presence of key market players.
However, Asia-Pacific is projected to show the fastest CAGR of 6.9 per cent during the forecast period.
