We also have a deep pipeline for the short and long term to ensure the evolution of existing products and that we keep at the forefront of development of new products.
Healthcare around the world is being transformed as people live longer. With this increased longevity comes a greater risk to individuals of suffering from any number of complaints associated with ageing, including cardiovascular disease, rheumatological aches and pains and skin problems.
Focus is increasingly shifting away from treatment to prevention, in order to ease the burden on struggling healthcare systems. Alongside this shift comes an increasing onus on individuals to initiate these prevention methods themselves, thus creating an improved awareness among consumers and as a result, a more varied and ever-growing OTC and food supplement market.
Venture Life's product portfolio is intended to cater for the needs of this growing market.
Cardiovascular: Cardiovascular Disease (CVD) is the biggest cause for human death globally, accounting for 17 million deaths per annum. Out of these deaths, heart attacks were responsible for 7.3 million and strokes were responsible for 6.2 million deaths. Around 30 million people are severely affected by cardiovascular diseases every year. A large proportion of CVDs is preventable and so the CVD pharma market potential is huge, with it expected to be worth US $107billion in 2018.
Neurology: According to some estimates, more than 50% of those over 60 years old have age-associated memory impairment and this occurs as part of the natural ageing process. However, cognitive decline has been shown to be evident even at age 45-49. The Central Nervous System (CNS) prescribed market is the second largest and the global market has been forecast to reach US $133 billion by the year 2018.
Dermatology: Skin problems are a common affliction with one-third of the US population experiencing at least one active skin disease at any given time. As you age, skin becomes more delicate and dermatologic conditions resulting from this ageing process frequently require topical therapies. The global market for cosmeceutical products (a combination of cosmetics and pharmaceuticals, developed with active ingredients) was valued at US $35 billion in 2012, with it expected to reach nearly US $45.6 billion by 2017.
Rheumatology: With the positive market impact of an expanding geriatric population, the demand for rheumatology products is on the increase globally. It is predicted that the rheumatology market will climb from a 2011 value of US $17.1 billion to US $23.8 billion by 2018.
Ophthalmology: Dry eye disease is one of the most frequently encountered ocular morbidities with around 100 million sufferers worldwide. The prevalence of dry eyes primarily increases with age, and has an estimated incidence of 15% in persons over the age of 65 years. The dry eye syndrome market is continuously growing and could account for more than $2.4 billion by 2014.
- Larrabee & Crook. Estimated prevalence of age-associated memory impairment derived from standardized tests of memory function. Int Psychogeriatr. 1994 Spring;6(1):95-104
- Singh-Manoux et al. Timing of onset of cognitive decline: results from Whitehall II prospective cohort study. BMJ. 2011 Jan 5;344:d7622. doi: 10.1136/bmj.d7622
- Johnson ML. Defining the burden of skin disease in the United States--a historical perspective. J Investig Dermatol Symp Proc 2004;9:108-10