September 2003

Demand for anti-aging products
to reach $29 billion in 2007

Good news for doctors of chiropractic who expand their practices into anti-aging: Demand for anti-aging products is expected to increase over 11 percent per annum to $29 billion in 2007, propelled by a stream of new and improved products offering health-maintenance and appearance-enhancing benefits to a largely untapped customer base of middle-aged and elderly consumers.

The value of chemicals used in these products is expected to advance at the same pace, increasing to $4.7 billion in 2007. These and other trends are presented in “Anti-Aging Products,” a new study from The Freedonia Group, Inc., a Cleveland-based industrial research firm.

Fastest gains are projected for memory improvement and sexual dysfunction/impotence products, with annual growth of 23 percent and 19 percent, respectively.

An aging population and heightened consumer awareness of Alzheimer's disease will drive demand for memory-improvement products, though further advances will be limited by the inability of current medications to cure or reverse lost memory functions.

Demand for impotence products will reach $2.8 billion in 2007, propelled by a spate of new faster- and longer-acting products for males and development of sexual dysfunction products for post-menopausal females. Double-digit advances are also projected for anti-arthritis and osteoporosis products, boosted by an unprecedented consumer drive to stay physically active.

Consumers will continue to increasingly combine the use of both pharmaceuticals and dietary supplements in their pursuit of well-being. Supplements for menopausal symptoms will lead advances with 12.2 percent annual growth as women look for alternatives to hormone replacement therapy.

Anti-aging chemicals expected to record double-digit annual growth through 2007 include memory-enhancing neurological agents; botulinum toxin for wrinkle-reducing applications; coenzyme Q10; soy extracts and a host of small volume herbal extracts, including lutein, lycopene, black cohosh and red clover, used in both dietary supplements and cosmeceuticals.

Source: Businesswire

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