Australia Anti Aging Therapeutics Market Analysis

Australia Anti Aging Therapeutics Market Analysis

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Australia's anti-ageing therapeutics market is projected to grow from $7 Mn in 2022 to $27 Mn in 2030 with a CAGR of 18.03% for the year 2022-2030. The increasing elderly population and innovative technological advancements in Australia are responsible for the growth of the market. The Australian anti-ageing therapeutics market is segmented by product, treatment, target group, type of ageing, type of molecules, mechanism of action, ingredient, and by distribution channel. Clinuvel Pharmaceuticals, EZZ Life Science, and PharmatrophiX are the major competitors in the market.

ID: IN10AUPH030 CATEGORY: Pharmaceuticals GEOGRAPHY: Australia AUTHOR: Parul Choudhary

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Australia Anti-Aging Therapeutics Market Executive Summary

Australia's anti-ageing therapeutics market is projected to grow from $7 Mn in 2022 to $27 Mn in 2030 with a CAGR of 18.03% for the year 2022-2030. A total of $105.8 Bn, or 16.8% of total government expenditures in Australia, is projected to be spent on health in 2022–23. Realistically, it is anticipated that overall spending will fall by 8.3% between 2021–22 and 2022–23 and by 4.4% between 2022–23 and 2025–26, mainly as a result of the cessation of COVID–19-related payments. In 2022–23, the Australian Government's Pharmaceutical Benefits Scheme (PBS) medicine payments will account for the majority of the $17.2 Bn, or 16.3%, in pharmaceutical benefits and services. In 2022–23, the general administration will account for $4.2 Bn, or 4.0% of total health expenditures, consisting of administrative costs, investments in workforce development programs, and support for rural health projects.

An example of how "mediascapes" function is the anti-ageing industry in Australia, which aims to imitate the American model while developing a more regionalized practice that takes into account regional needs, cultural orientations, and legal frameworks. Some of the goods have been around for a while in the complementary and alternative medicine (CAM) sector, but they were only recently rebranded as "anti-ageing." Vitamins, antioxidants, dietary additives like beta-carotene, selenium, and coenzyme Q10, homoeopathic goods, exercise routines, and diet plans are some examples. It also includes hormone therapies, testosterone, melatonin, human growth hormone (HGH), and dehydroepiandrosterone (DHEA), which have lately been marketed as anti-ageing products.

Australian scientists have recently concentrated their efforts on developing potent antiaging medications that have significantly increased the average lifespan of people. An extended lifespan has been demonstrated in numerous studies using animal models to examine genetics, dietary, and pharmacological treatments. Other studies have examined antiaging strategies, such as enhancement of autophagy, elimination of senescent cells, transfusion of young blood, intermittent fasting, stem cell therapy, physical exercise, adult neurogenesis boost, and antioxidant and herbal intakes, which have emerged in recent years. There is growing proof that certain lifestyle choices may prolong a person's life. 

Australia Anti Aging Therapeutics Market

Market Dynamics

Market Growth Drivers Analysis

With a sizable proportion of its population being 65 or older, Australia has an aging population. As people look for methods to maintain their health and vitality as they age, this demographic change is increasing the demand for anti-aging therapies. Significant progress has been made in developing a variety of anti-aging technologies, including gene editing and stem cell therapy, which have the potential to completely change the market and offer patients new treatment choices. The Australian government has made sizeable expenditures in the medical field, including investigating and developing a number of anti-aging treatments. This assistance is anticipated to stimulate the Australia anti-aging therapeutics market expansion and innovation.

Market Restraints

Many anti-aging therapies are not covered by public health insurance in Australia, where access to healthcare is mainly through the public health system. This may restrict patients' access to novel treatments and dissuade market investment. Consumer spending is influenced by economic factors, and a downturn in the economy might result in a decline in the Australia anti-aging therapeutics market.

Competitive Landscape

Key Players

  • Loam Bio (AUS)
  • Nutromics (AUS)
  • OccuRx (AUS)
  • Clinuvel Pharmaceuticals (AUS)
  • EZZ Life Science (AUS)
  • PharmatrophiX
  • Proteostasis Therapeutics
  • Retrotope
  • Stealth Biotherapeutics
  • TA Sciences
  • Unity Biotechnology Younger Phenotype

Healthcare Policies and Regulatory Landscape

The Therapeutic Goods Administration (TGA), which is a division of the Australian Government Department of Health, is the regulatory body in charge of regulating and supervising the licensing of anti-aging medications in Australia. The Department of Health in the Australian government houses the TGA. It primarily funds itself and runs on an expense recovery model. The TGA levies a yearly charge on the industry as well as fees for services (like evaluating new products). The Therapeutic Goods Administration Account, a particular account created in accordance with section 45 of the Act, is where all funds collected by the TGA are credited. These funds are used to support foreign regulatory activities for therapeutic goods as well as Australian regulatory activities. An individual or organization must request market authorization from the TGA in order to supply a therapeutic good in Australia. If a market authorization is given, the TGA evaluates the application, and the therapeutic good is then added to the Australian Register of Therapeutic Goods (ARTG). Therapeutic products are typically required to be registered on the ARTG in order to be legally imported, provided, or exported from Australia.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company Overview Product Applications and Services Recent Developments Partnerships Ecosystem Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Anti-Aging Therapeutics Market Segmentation

By Product (Revenue, USD Billion):

  • Anti-Wrinkle
  • Hair Color
  • Ultraviolet (UV) Absorption
  • Anti-Stretch Mark
  • Others

By Treatment (Revenue, USD Billion):

  • Hair Restoration
  • Anti-Pigmentation
  • Adult Acne Therapy
  • Breast Augmentation
  • Liposuction
  • Chemical Peel
  • Others

By Target Group (Revenue, USD Billion):

  • Male
  • Female

By Type of Aging (Revenue, USD Billion):

  • Cellular Aging
  • Immune Aging
  • Metabolic Aging
  • Others

By Type of Molecules (Revenue, USD Billion):

  • Biologics
  • Small Molecules

By Mechanism of Action (Revenue, USD Billion):

  • Senolytic
  • Cell Regeneration
  • mTOR inhibitor/Modulator
  • AMP-kinase/AMP Activator
  • Mitochondria Inhibitor/Modulator
  • Others

By Ingredient (Revenue, USD Billion):

  • Retinoid
  • Hyaluronic Acid
  • Alpha Hydroxy Acid
  • Others

By Distribution Channel (Revenue, USD Billion):

  • Pharmacies
  • Stores
  • Online Stores

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

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Last updated on: 15 June 2023
Updated by: Vidhi Upadhyay

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