The US Anti-aging drugs market size stood at USD 17 billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
Aging is brought about by a cycle of biochemical processes which cause the body to degenerate over a period, impacting the health, fitness, and physical appearance of the individual. Anti-aging refers to the process of limiting or retarding these changes through various products and services. Nowadays, good physical personality has become a necessity and determines the success of an individual in different areas of life.
The advancements in technology, as well as huge investments in research and development activities, have led to the introduction of new anti-aging treatments and products, such as plastic surgeries, breast implants, botulinum toxin injection therapies, etc. which offer long-term results.
Strict rules and regulations have encouraged the manufacturers to introduce safer and more efficient anti-aging products which provide quick results to the consumers, in turn, widening the growth prospects of the market.
Although premium anti-aging products have conventionally been distributed through departmental stores, specialty stores have made them more accessible and widely available. These products are now also being sold through online stores, salons, spas, specialist retail shops, and direct response television such as infomercials and home shopping channels.
The high cost of anti-aging products and procedures along with the presence of counterfeit products containing toxic substances pose a major challenge to the market growth.