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Global Anti-Aging Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report - Segmented By Products, Demographics, Services, Devices and Region - Industry Forecast (2022 to 2027)

Published: January, 2022
ID: 1322
Pages: 175
Formats: report pdf report excel report power bi report ppt

Anti-Aging Market Size (2022 to 2027)

As per our report, the global anti-aging market size is predicted to be worth USD 57.95 billion by 2027 and USD 44.76 billion in 2022, growing at a 5.3% CAGR during the forecast period.

Anti-aging is generally defined as using products or devices to reduce the appearance of becoming old. The FDA has approved cosmetics as the products that affect the rejuvenation and restoration of the skin tissues. Galderma, one of the most significant players in health and beauty products, was acquired by Nestle. Nestle company is in the pharmaceutical industry for long years, and the acquisition helped the company launch effective products in personal care/cosmetic products.

Impact of COVID-19 on the global anti-aging market:

COVID-19 is an infectious disease. COVID-19 was declared as the emergence of healthcare by the World Health Organization on 11 March 2020. All the countries imposed a lockdown and shut down all the manufacturing activities in all sectors of the economy except the pharmaceutical industries. The pandemic has affected the Anti-Aging Market at the earlier stages of the COVID-19 due to the nationwide lockdown and ban on travel and flights. The Anti-Aging market has a supply chain across various countries, but due to the country-wise lockdown, the supply chain has been stopped, and thus it negatively affected the market growth. However, no research and development activities have been made during the initial months of 2020. However, with the unlock guidelines worldwide, the market shares to have inclined growth opportunities in the coming years.

MARKET DRIVERS:

The global anti-aging market is majorly driven by the increasing geriatric population and rising beauty awareness worldwide.

Factors like the growing elderly population, increasing demand for cosmetic products, and rising beauty consciousness among young people propel the anti-aging market growth. The availability of easily carried anti-aging products for wrinkle reduction, skin rejuvenation, cellulite reduction, and dead epidermal cells known as microdermabrasion is another significant factor in fuelling the growth of the global anti-aging market. The awareness of the beauty and the desire for young people is significantly growing over the last few years. The surprising benefits and affordability of anti-aging products and their presence in developed and developing countries drive significant demand for anti-aging drugs in the market. Public awareness of the many benefits of antioxidants in anti-aging continues to grow from the past few years, setting up growth opportunities for the market.

Furthermore, advanced technology in anti-aging products and devices, rising demand for medical tourism, considerable investments in research and development, plastic surgeries, and breast implants offer lucrative growth possibilities for the global anti-aging market. The growing prevalence of cosmetic products, especially in urban areas, sets up growth opportunities for the market. Creating awareness of new launch products through campaigns and digital advertisements and rising disposable income in developed and developing countries are likely to boost the market growth during the forecast period.

MARKET RESTRAINTS:

Stringent rules and regulations by the government in approving new products, fluctuations in the raw materials' availability are straightforwardly increasing the final products' prices, which are considered crucial for anti-aging market players. 

Anti-Aging industry in the Asia Pacific:

Asia-Pacific is the world's most populous region and a vast market for anti-aging products. Due to the high R & D costs, countries such as Korea and Japan use advanced cosmetics technology. Serum, which has a higher absorption capacity than emulsions, essential oils, and elixir agent oils, is growing in APAC Anti-aging Market demand. Increasing expenditure on cosmetic products in developed and developing nations is further accelerating the market growth in this region.

On the other hand, the Asia-Pacific region is the fastest-growing market for anti-aging equipment and products due to the increasing number of beauty procedures, the growing elderly population, and the ever-increasing number of meeting seminars to raise consumer awareness. Japan accounted for the largest share of the anti-aging market in the Asia-Pacific region in 2017, mainly due to the growing elderly population and increased awareness of beauty therapies. Constant economic growth is also one of the factors for the demand of the anti-aging market. 

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

Segments Covered

By Demographics, Products Type, Services, Devices, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape and Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East, and Africa

 

This research report on the global anti-aging market has been segmented & sub-segmented based on demographics, product type, services, devices, and region.

Anti-Aging Market - By Products Type:

  • UV Absorbers
  • Anti-Wrinkle Products
  • Anti-Stretch Marks Products
  • Natural Products
  • Hair Colour

Based on product type, there is a wide range of anti-aging products on the market for various consumer needs. Anti-wrinkle products currently dominate the anti-aging market, representing most of the overall share. The segment of anti-wrinkle products accounted for the largest market share, and robust growth is expected by 2027. Because of the side effects of cosmetics and chemical-based products, the natural products category is predicted to see the highest growth rate.

Anti-Aging Market - By Demographics:

  • Baby Boomers
  • Generation X
  • Generation Y

Based on demographics, Generation X has dominated the anti-aging market in terms of share. Increasing emphasis on physical appearance along with increased disposable income would contribute to the segment's growth. Over the forecast period, the demographic group Generation Y is estimated to witness an impressive growth rate. The demographic group consists mainly of millennial consumers conscious of popular premium luxury brands like Estée Lauder and Elizabeth Arden. Inclination has been rising among the millennial population group for premium skincare brands.

Anti-Aging Market – By Services:

  • Anti-Pigmentation Therapy
  • Adult Acne Therapy
  • Breast Augmentation
  • Liposuction Services
  • Abdominoplasty
  • Chemical Peel
  • Eye-Lid Surgery
  • Hair Restoration
  • Sclerotherapy 

Among the mentioned segments, in the last few years, liposuction procedures held a leading market position. Due to the increased influence of social networking, these procedures have gained prominence. Technological advances and increased awareness of the methods contribute to the segment's growth. On the other hand, Botox is expected to show the fastest growth rate in the years to come. Botox and other skin fillers are expected to remain the top non-invasive anti-aging treatment across the forecast horizon.

Anti-Aging Market - By Devices:

  • Anti-Cellulite Treatment Devices
  • Microderm Abrasion Devices
  • Laser Aesthetic Devices
  • Radiofrequency Devices

Based on the type of the devices, the Radiofrequency Devices segment is holding the most significant share in the global anti-aging market. It is estimated to grow at a remarkable CAGR during the forecast period continuing its dominance. The growth of this segment is driven due to the adoption of advanced technologies in skin tightening, cellulite, aesthetic enhancement, and body shaping. An increasingly aging population and rising expenditure on healthcare are significant factors bolstering the growth rate of the market.

Anti-Cellulite Treatment devices is another segment growing at a healthy rate following radiofrequency devices. This anti-cellulite treatment was mainly done for patients aged between 35 and 50years. Cellulite is a pervasive problem that every woman is facing today. 

Anti-Aging Market - By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

Regionally, the North American anti-aging market dominated the anti-aging market in 2021 with a market share of 33% globally due to the high awareness of aging signs and increasing obesity. Growing knowledge about the aging factors and changes in lifestyle propels the market growth. The anti-aging market is increasing significantly in countries such as the U.S. and Canada. Factors like the reimbursement policies made by the government and growing disposable income are escalating the growth rate of the market.

The European anti-aging market was the second-largest regional market worldwide in 2021. Countries like France, Germany, the UK, Russia, Spain, and Italy play a prominent role and are estimated to grow at a healthy CAGR during the forecast period. Changes in lifestyle and increasing disposable income are the major factors fueling the market demand in this region. 

The Asia Pacific anti-aging market is likely to experience the utmost growth shortly, mainly due to the approval of new anti-aging services, products, and devices in this region. The growing aging population within a short period and constant economic growth are some factors that are accelerating market growth. Countries like India, China, Japan, and South Korea are expected to be the most delightful cosmetic surgery stations. Promoting cosmetic medical tourism is additionally boosting the demand of the market. Japan is one of the top leading countries in the Asia Pacific with increasing anti-aging products and services. 

The Latin America anti-aging market is predicted to grow at a CAGR of 5.54% during the forecast period, Among all the nations of Latin America, countries like Brazil and Mexico are leading. Economic development and awareness about aging both in men and women are enhancing the market demand in Latin America.  

The anti-aging market in Middle East & Africa is forecasted to have inclined growth during the forecast period. In this region, the Saudi Arabian country is considered to be observed as the quickest growth. Due to the increasing number of cosmetic surgeries, growing older people, and rising knowledge about the latest cosmetic products. 

KEY MARKET PARTICIPANTS:

Notable companies dominating the global anti-aging market covered in the report are Coty Inc., Personal Microderm, Beiersdorf AG, Photomedex Inc., Lumenis Ltd, Alma Lasers Ltd, Solta Medical Inc., Cynosure Inc., L'Oreal, SA, and Allergan Inc.

RECENT HAPPENINGS IN THIS MARKET:

  • On January 09, 2018, Cellifique was launched by Vernell. It is an anti-aging gel, which is for men and helps in skin revitalization. Cellifique is a new collagen injectable that is quite natural-looking and doesn't result in discoloration, and has shown promise in reducing wrinkles around the mouth.
  • On August 23, 2017, USANA announced the launch of a new skincare line called Celavive, which is likely to revolutionize the market and has the unique ability to reduce the appearance of wrinkles, improve the tone, and texture of the skin.

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