Global advanced glycation end products market is estimated to witness high growth, owing to increasing research initiatives and growing prevalence of diabetes
Global Advanced Glycation End Products Market is estimated to be valued at USD 1.75 Bn in 2024, exhibiting a CAGR of 6.8% over the forecast period 2024-2031. Furthermore, increasing research initiatives to develop novel AGE inhibitors and rising strategic collaborations among key players can drive the market growth.
Market Dynamics:
Rising prevalence of diabetes and increasing funding in R&D activities can drive the global advanced glycation end products market growth. According to International Diabetes Federation, around 463 million adults lived with diabetes in 2019, which is projected to rise to 700 million by 2045. Advanced glycation end products play a vital role in the pathogenesis of diabetes and its complications. Thus, growing burden of diabetes can boost demand for inhibiting advanced glycation end products in the near future. Increasing collaborations among major players to develop novel anti-AGE drugs can also drive the market growth over the forecast period. For instance, in 2020, Geron Corporation and Ncardia entered into a strategic collaboration to develop stem cell-derived therapeutics targeting advanced glycation end products for cardiovascular diseases.
Rising Geriatric Population Globally
Growing geriatric population aged 65 years and above can drive the market growth. According to the United Nations, the number of people aged 65 years or over is projected to increase from an estimated 524 million in 2010 to nearly 1.5 billion in 2050. As age increases, advanced glycation end products (AGEs) start accumulating in the body, thus, leading to numerous health issues in the elderly population. AGEs accumulate due to normal aging and can also exacerbate age-related conditions like cardiovascular diseases, diabetes, neurological diseases, and others. This rising geriatric population boosts demand for AGE therapies and diagnostics tools to manage AGE-related health problems.
Increasing Prevalence of Chronic Diseases Like Diabetes and CVD
Rising prevalence of chronic diseases like diabetes and cardiovascular diseases (CVD), where blood sugar control is a major challenge, can drive the market growth. Uncontrolled hyperglycemia leads to increased formation of AGEs in the body over time. Advanced glycation end products (AGEs) have been implicated in the pathogenesis and progression of diabetes and its complications. The accumulation of AGEs also contributes to the development and severity of various CVD conditions. Due to rising burden of diabetes and CVD worldwide, there has been need for therapies and diagnostic tests targeting AGEs in the management of such chronic diseases.
High Cost of Advanced Therapies
Many new therapeutic drugs and diagnostic tools in the clinical pipeline for targeting AGEs are still in the development stage and have not received regulatory approvals. Already approved drugs are expensive, thus, making them unaffordable for many people. For example, the cost of an anti-AGE drug is generally higher than other standard therapies due to requirement of R&D investments. This high cost of advanced AGE-targeting therapies and tools may restrict their widespread adoption, thus, hampering the market growth.
Regulations Surrounding Approval of New Drugs
Regulatory policies for approval of new drugs targeting AGEs differ in various regions and countries. Meeting stringent regulatory criteria involves lengthy clinical trials, high costs and lengthy approval timelines. Additionally, inconsistent regulations across regions make the approval process quite complex for global companies. Such regulatory challenges often become a deterrent for pharmaceutical companies and hinder the pace of innovation in this field until new drugs and diagnostic tools clear all regulatory hurdles. This regulatory framework also limits the timely availability of novel AGE-targeting therapies.
Rising Healthcare Expenditure in Developing Markets
Countries like India, China, Brazil, and others are witnessing significant economic growth, which improves the disposable income levels and healthcare spending capacity of their middle-class populations. With increasing accessibility to advanced healthcare facilities and awareness about diseases like diabetes, more patients are seeking therapeutic solutions even for complex chronic conditions. This rising healthcare expenditure provides immense opportunities to companies in the market to introduce affordable therapies and diagnostic solutions.
Growth in Private Healthcare Insurance
Countries where a considerable part of healthcare is financed through private medical insurance are encouraging the use of advanced treatment options. Awareness about benefits of AGE-targeting therapies in managing chronic diseases is rising among such privately insured patient populations. Their ability to pay for expensive services provides insurers incentives to cover new AGE-related drugs and tests. This positively impacts higher adoption rates. Continued shift towards private health insurance models in developing markets can open up new revenue streams and allow greater penetration of AGE-focused therapeutic innovations globally.
Link - https://www.coherentmarketinsights.com/market-insight/advanced-glycation-end-products-market-4350
Key Development
- In April 2024, Beiersdorf's, a Germany-based multinational company that manufactures personal-care products, its research breakthrough reveals that glycation, the process where sugars interact with proteins in the body, accelerates skin aging by reducing elasticity and promoting wrinkles. After a decade of intensive study and testing 1,700 active ingredients, Beiersdorf developed a patented anti-aging compound aimed at protecting collagen from this "sugar damage."
- In August 2022, a multinational study involving researchers from IARC, University of Vienna, and Maastricht University analyzed data from over 450,000 participants across Europe. Researchers found that higher dietary intake of advanced glycation end products (AGEs) is not linked to increased overall cancer risk or most specific cancer types.
Key Players: Alteon Inc., Plexxikon Inc., Phenomenome Discoveries Inc., Kowa Company Ltd., Novartis International AG, OPKO Health, Inc., DiabetOmics, Inc., Amadori Scientific, LabCorp, Quest Diagnostics Incorporated, AstraZeneca plc, Bayer AG, Bristol-Myers Squibb Company, Pfizer Inc., GlaxoSmithKline plc, Merck & Co., Inc., Eli Lilly and Company, Sanofi S.A.
