NEW YORK, July 10 — The global anti-aging market, valued at $191.5 billion in 2023, continues to expand as the world’s population grows older, with projections showing a compound annual growth rate of 8.6% from 2024 to 2030, according to Grand View Research. The market encompasses dietary supplements such as resveratrol, NMN, NR, and coenzyme Q10, alongside cosmetic procedures including Botox and dermal fillers, and hormone therapies like growth hormone and testosterone. The United States accounts for roughly 30% of global revenue, estimated at $57.5 billion in 2023.
Key players include Nu Skin Enterprises, founded in 1984 with $1.8 billion in revenue in 2023; the privately held Life Extension Foundation, established in 1980; and Elysium Health, founded in 2014, which has raised $50 million in venture funding.
Regulatory landscape and consumer protection
The supplement industry operates under the Dietary Supplement Health and Education Act of 1994, which does not require pre-market approval from the Food and Drug Administration for safety or efficacy. This regulatory framework means products can reach store shelves without prior government review of their claims. A 2023 analysis by the National Institutes of Health found that 52% of US adults aged 60 and older use dietary supplements, spending an average of $200 per year.
The Federal Trade Commission has taken action against companies making unsubstantiated anti-aging claims, including a 2022 case against the company ‘Resveratrol Plus’ for falsely claiming to extend lifespan. The US Census Bureau projects that by 2030, all baby boomers — those born between 1946 and 1964 — will be over 65, totaling 73 million people.
This demographic shift is a primary driver of market growth.
What this means for communities across the region
For communities across Asia, where aging populations are also rising, the global anti-aging market’s expansion carries implications for consumer spending and health choices. The dietary supplement sector, in particular, sees significant interest from older adults seeking to maintain vitality. Closer to home, the regulatory environment under DSHEA means that consumers in the United States and those purchasing American-made supplements abroad rely on companies to voluntarily ensure product safety and truthfulness in marketing.
The FTC’s enforcement actions serve as a check on the most egregious claims. The market’s growth trajectory, driven by an aging demographic and consumer interest in longevity, shows no signs of slowing.
With baby boomers entering their senior years en masse, the demand for products promising to slow or reverse aging will likely continue to rise, even as regulators scrutinize the evidence behind such promises.
