Anti-Aging Market
Market Overview:
In the forecast period, a robust growth is expected in the global anti-aging market. As of 2017, North America held up to 60 percent of market share, followed by Europe and Asia-Pacific.
• Other factors driving the market are growing aging population around the world, increasing number of medical tourism for cosmetic procedures, and rising consumer demand for anti-aging products. In addition, these variables have resulted in the implementation on the market of secure and effective anti-aging products and services. There is a potential market for anti-aging devices and esthetic plastic surgeries with the rising beauty awareness among people.
• Americans spent approximately USD 8.5 billion on cosmetic procedures in 2014, according to the American Society for Esthetic Plastic Surgery. In the United Kingdom in 2017, nearly 28,315 cosmetic procedures were conducted. However, factors, like stringent regulatory environment, are restraining the market growth.
Reports Scope:
Skin aging is a complex biological process that is influenced by a combination of endogenous or intrinsic factors, exogenous or extrinsic. Because skin health and beauty are considered among the main factors that represent overall human well-being, several anti-aging strategies have been developed over the past few years. The market range involves the anti-aging products and services used in the aging process for aesthetics.
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Key Market Trends:
Anti-wrinkle Products Dominate the Market, Accounting for the Majority of the Total Share:
The market offers a wide range of anti-aging products for different consumer needs. Anti-wrinkle products currently dominate the market, representing most of the total share. The segment of anti-wrinkle products accounted for the biggest market share, and stable development is anticipated by 2024.
Because of the side effects associated with cosmetics and chemical-based products, the natural products segment is expected to experience the greatest development rate. Since the previous few years, demand for various kinds of anti-aging products and services has increased. Based on device type, during the forecast period, radiofrequency is anticipated to lead the anti-aging market. The main driving forces of the industry are factors such as an rise in the aging population and an increase in the incidence of skin picture aging.
North America is Expected to Hold the Largest Share in the Anti-aging Market During the Forecast:
Geographically speaking, increasing incidences of sedentary lifestyle and increasing concerns about indications of aging are intended to set the tone for the anti-aging industry in North America. Because of which, in terms of share, North America can take control of the worldwide market. The US accounts for the biggest share of the worldwide anti-aging industry, followed by Japan, France, Brazil, Germany, China, South Korea, and Italy, owing to the elevated customer awareness of anti-aging products.
Due to the contemporary lifestyles of the Japanese population, Japan is becoming one of the established markets for anti-aging products and services. Countries such as the U.S. and areas such as Europe and Australia are also some of the world’s major markets. The anti-aging market in Japan is changing due to the introduction of new products and services.
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Competitive Landscape:
In the anti-aging market, there is huge competition. It is difficult for a company to survive in the global anti-aging market with the presence of many domestic and international market players. In order to survive on the market, most market players adopt different development policies, such as acquisitions, alliances, and fresh product launches.
For example, USANA announced the launch in January 2018 of a new skincare line, Celavive, to reduce wrinkles. Vernell launched Cellifique in January 2018, its new anti-aging gel for men promising excellent skin revitalization and firmness. Syneron Medical Ltd. acquired Ellipse A/S in September 2018, a company that produces and markets laser-based and intensive pulse light IPL platforms for various types of medical and aesthetic skin treatments.
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