As the global population ages and consumer health awareness increases, the rise of the "silver economy" has brought the anti-aging industry to the forefront, emerging as a vast blue ocean market within the health sector.

The term "silver economy" has quickly become a significant buzzword in economic development, driven by the aging population, enhanced health consciousness among consumers, and advancements in technology.

This phenomenon has birthed a variety of emerging sectors, with the anti-aging industry particularly standing outIt encompasses product development, service provision, and educational initiatives, gradually maturing into a comprehensive industry.

The global anti-aging market is experiencing continuous growth, with its size reaching an estimated $250 billion in 2023, marking a remarkable year-on-year growth rate of 7.8%. Projections suggest it could approach $300 billion by 2025.

From policy support and market demand to technological advancements and industry upgrades, the anti-aging sector is poised for unprecedented development opportunities.

Defining the Anti-Aging Industry

The anti-aging industry, an interdisciplinary field, is progressively becoming a crucial part of economic development.

Earlier this year, the Chinese government first recognized the "silver economy" as a key area for economic growth, outlining significant policy directions for the sector

Reports indicate that China will enter a "super-aged" society—where seniors account for more than 20% of the population—around 2030, revealing both significant challenges and promising prospects for the silver economy.

Since the beginning of the year, various policies have been rapidly introduced, catalyzing the growth of the silver economy as it enters a "fast lane" of development.

Interestingly, the term "silver economy" is not new; it can be traced back to Japan approximately three decades agoAs China's demographic shifts towards an older population, the silver economy has started to gain traction domesticallyAmong the most popular phrases identified by the magazine "Bite the Words" in 2024 is "silver power."

In this context, a series of emerging industries have arisen around the silver economy, particularly the anti-aging sector.

So what exactly is the anti-aging industry?

The 2016 "Healthy China 2030 Planning Outline" introduced the concept of "active health," positioning anti-aging as a pursuit for this form of health, bridging various fields such as medicine, biology, psychology, and artificial intelligence.

The anti-aging industry addresses the needs of the elderly to prevent diseases, slow aging, and extend their healthy life expectancy, while also appealing to the younger generation's "anti-weakness" desires and the middle-aged population's "anti-recession" needs.

The scope of the anti-aging sector is rich and varied

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Generally, the public's understanding of anti-aging divides products into "internal" and "external" categoriesInternal products focus on nutritional supplementation and disease prevention, including health supplements containing antioxidants, vitamins, and mineralsOn the other hand, external products aim at skincare and repair through cosmetics and beauty devices to improve skin condition.

Beyond conventional products and services, anti-aging management organizations have surged in recent yearsThese organizations integrate diverse needs along the anti-aging journey, providing personalized program management servicesBy leveraging advanced medical technologies and equipment and combining expertise, they offer comprehensive anti-aging solutions.

How to Approach Anti-Aging Scientifically

For most consumers, the notion of scientific anti-aging revolves around maintaining healthy lifestyles accompanied by appropriate anti-aging products

In reality, scientific anti-aging is a complex, systematic process requiring consideration of multiple factors, emphasizing the growing significance of anti-aging management institutions.

It's important to note that since anti-aging is not an officially recognized medical specialty and is often under-regulated, the market is flooded with diverse and sometimes subpar anti-aging institutions and productsThis scenario underscores the need for guidelines and professional organizations to regulate the market effectively.

On December 8, 2023, the Buck Institute for Research on Aging held its inaugural conference on longevity medicine aimed at laying the groundwork for formal recognition in the anti-aging field and establishing guidelines to delineate anti-aging clinics' business scopes.

According to its published "White Paper on Anti-Aging Clinics Practice," anti-aging is not merely about extending lifespan but enhancing "health span." Anti-aging clinics utilize research findings in the field to develop easily diagnosable and intervenable plans, encompassing gene testing, cellular therapy, nutritional management, and psychological adjustment.

In China, regular anti-aging management institutions are already emerging

On December 5, PER SE Wellness opened its first global store in HangzhouThis local health management brand focuses on the entire anti-aging industrial chain, offering a one-stop, personalized, and comprehensive service targeting high-net-worth urban populations regarding skin, reproductive health, cognitive function, and cellular management.

Notably, during the inauguration celebration of PER SE Wellness, a project to analyze trends in innovative anti-aging health service models, initiated by the global aging research institute and academically guided by the Functional Medicine Division of the China Anti-Aging Promotion Association, was officially launchedThis initiative aims to publish a reference white paper in line with the trends in China's anti-aging market and further explore innovative service models to advance the sector.

The Coming Blue Ocean of Anti-Aging

Market forecasts indicate that the anti-aging market remains a blue ocean ripe for exploration.

The middle-aged and elderly demographic constitutes the largest audience for the anti-aging industry

According to the national census data, as of the end of 2023, the population aged 60 and above in China reached 296.97 million, accounting for 21.1% of the total population, while those aged 65 and above totaled 216.76 million, making up 15.4%. It is anticipated that by around 2030, China will have over 20% of its population within the super-aged society bracket, with numbers continuing to rise rapidly, hitting approximately 37.4% by 2060.

It is also noteworthy that among the population aged 60 and above, the proportion with at least a high school education stands at 13.9%, an increase of 4.98 percentage points over the past decadeThe cognitive abilities, purchasing power, lifestyles, and consumption habits of this new generation of seniors are rapidly evolving, leading to adaptations in the "silver economy" and corresponding anti-aging market, which holds vast potential for growth.

Anti-aging is not simply about prolonging life but enhancing "health span"; therefore, the middle-aged and elderly make up the bulk of the anti-aging market, while the younger demographic also represents a potential customer base

Comprehensive analyses from agencies such as iiMedia Consulting, QIYI Intelligence, Zion Market Research, and Euromonitor suggest that the Chinese anti-aging market is poised to reach 150 billion yuan by 2024.

Additionally, technological advancements are opening new pathways for the anti-aging industryFor instance, AI technology can assist doctors in diagnosing diseases and formulating treatment plans, enhancing the precision and efficiency of anti-aging services.

Moreover, cutting-edge technologies like gene editing and cellular regeneration are demonstrating significant potential within the anti-aging domainRecently, the Nobel Prize in Physiology or Medicine was awarded to Victor Ambros and Gary Ruvkun for their discovery of microRNA and its role in post-transcriptional gene regulationTheir research focuses on the mechanisms of cellular regeneration and aging, introducing a new developmental pathway for the anti-aging industry

These breakthroughs and their application will continuously propel the anti-aging sector forward.

It is essential to recognize that the silver economy, encompassing the anti-aging industry, carries unique significance in this eraAccording to a report by Huafu Securities, "From a historical perspective, the silver economy not only reflects social trends in demographic structural changes but also acts as a vital force in driving innovation and promoting industrial upgrading and social progressWith advancements in technology and shifts in consumer perceptions, the silver economy compels businesses and governments to rethink service models, utilizing technological innovation and service optimization to meet the nuanced needs of the elderly, ultimately improving their quality of life and fostering sustainable economic and social developmentFurthermore, the growth of the silver economy also stimulates innovation and job opportunities in related industries, positively contributing to economic diversification."