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Anti-Aging Marketplace

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:: Anti-Aging Marketplace?

Fast Facts on The Anti-Aging Marketplace

The consumer public has voted with their wallets overwhelmingly in favor of the anti-aging healthcare model. The anti-aging marketplace is one that is demographics-driven: people around the world are getting older. As a result the anti-aging marketplace is projected to reach $41.94 billion by 2006, expanding at an average annual rate (AAGR) of 8% [Business Communications Company, 2002].
The anti-aging market is expected to grow to $41.94 billion in 2006, reflecting an average annual rate (AAGR) of 9% [“Drugs and Cosmetics for Aging Boomers,” Business Communications Company, Inc., 2002]
The market with the highest projected AAGR is hormone replacement therapy, at 16.5% [“Drugs and Cosmetics for Aging Boomers,” Business Communications Company, Inc., 2002]
Global nutraceuticals market grew from $38.2 billion in 1999, to reach $46.7 billion in 2002; by 2007, global nutraceutical sales are projected to reach $74.7 billion [reported by NutraIngredients.com, “Nutraceuticals sales to hit $75 billion”]
In the US, the nutraceuticals market stands at $17.1 billion [“NBJ Releases New Report on Maturing US Supplement Industry,” Nutrition Business Journal, September 2002.]
Sixty percent (60%) of Americans age 65+ are pursuing anti-aging interventions -- including hormone replacement therapies and dietary supplementation [MSNBC Jan. 28, 2002.]
Dietary supplement sales in 2000 were $17 billion. [Nutrition Business Journal, Nov. 2001.]
Thirty-three percent (33%) of adults take supplements on the specific advice of their doctor. [Harris Interactive survey, 2001.]

Lucrative spinoff industries created by the anti-aging marketplace include:

Prescription Drugs: $70 billion annually spent by the public on medicines prescribed for aging-related diseases
Fifty-Plus Fitness and Spa: $400 billion and growing by 15% each year
Cosmetic Procedures: $20 billion in plastic surgery and non-surgery skin treatments spent by men and women ages 35-50 last year
Pain Management: $7 billion ($16 billion if including painkiller drugs) a year, this market is aimed at relieving Boomer-generation chronic pain (including "Boomeritis") "Drug trips," Money, September 2001; "How to surf the age wave," Time Magazine, Aug. 4, 2002; American Society for Aesthetic Plastic Surgery, February 2002; MarketData Enterprises, November 2001.