According to our report, the size of the Global Anti-Aging Market was worth USD 42.51 Billion in 2019 and estimated to be growing at a CAGR of 5.30%, to reach USD 55.03 Billion by 2024.
Aging is achieved by a series of diverse biochemical procedures in the body that persuade it, both internally and externally. Skin aging is a biological process influenced by the combination of the hormone and metabolic process. These factors lead to physiological alterations of each layer of skin especially sun-exposed. The gradual loss of skin elasticity leads to a phenomenon of lagging. Anti-aging involves procedures and medication intentional to delay, stop or retard the aging process. Three primary structural components of the dermis, collagen, Elastin and GAG's are the subjects of the majority of the aging research.
Key Market Growth Drivers
The anti-aging market is observed to be one of the rising markets in today’s world. New technologies have initiated the association of new anti-aging treatments and products, which is propelling the anti-aging products, service, and devices market growth. Increased awareness about aging signs, an increase in obesity and a sedentary routine are fuelling the market growth.
The future growth of the anti-aging market is observed to rely on the advancement and technological development with enhanced efficacy and safety of anti-aging products.
The market for preventive anti-aging products is driven by increasing customer incomes and shifting lifestyles. Increased awareness has led to increased demand for premium luxury products. More than ever, the global anti-aging industry appears to be continuously developing as more companies now also offer their products via e-commerce.
One of the major challenges faced by the market is stringent regulations. Also, in the anti-aging market, there is a 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.
This research report on the Global Anti-Aging Market has been segmented & sub-segmented into the following categories and analyzed market size & forecast for each segment until 2024.
Anti-Aging Market – By Demographics
On the basis of demographics, Generation X has dominated the market in terms of revenue. 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 who are 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 Products Type
On the basis of product type, there is a wide range of anti-aging products on the market for various consumer needs. Anti-wrinkle products currently dominate the 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 2024. Because of the side effects associated with cosmetics and chemical-based products, the natural products category is predicted to see the highest growth rate.
Anti-Aging Market – By Services
Among the mentioned segments, in the last few years, liposuction procedures held a leading market position. Due to the increased influence from social networking, these procedures have gained prominence. Technological advances and increased awareness of the procedures 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-Aging Market – By Region
Regionally, North America dominated the anti-aging market in 2018 owing to the high awareness of signs of aging and increasing obesity in the region. The Asia Pacific is likely to experience the utmost growth in the near future, mainly due to the approval of new anti-aging services, products, and devices in this region.
Key Developments in the Global Anti-Aging Market
Top companies in the market
The key players 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.
Opportunity for new products, services or devices is high as the market consists of recognized players and their brands.
Reasons to Purchase This Report