Anti Aging Market

Global anti-aging market is expected to grow at a CAGR of 7.2% during forecast period (2022-2030). Global anti-aging market is primarily driven by rising geriatric population and increasing disposable income. For instance, in 2017, Economic and Social Affairs (United states) stated that globally about 962 million people aged 60 or over, accounting 13% of the world population and is expected to increase to 2.1 billion by 2050. Geriatric population undergoes from several skin related complications such as wrinkles, age spot, dry skin and itching, bruises, facial movement lines, infections, dark circles, and others. Hence, to minimize aging effect various anti-aging products and services were adopted by this age group. Further, rising disposable income across the globe is also expected to drive the adoption of products and services in this market.

Increase in Geriatric Population Serves as the Largest Driver

Geriatric population suffers from several skin related problems such as wrinkles, age spot, dry skin and itching, bruises, facial movement lines, infections, dark circles, and others, thus spending huge amount on anti-aging products in defying and minimizing the aging effect on skin. As per Economic and Social Affairs of the United Nations, in 2017, about 962 million people aged 60 or over globally, accounting 13% of the world population and is expected to increase to 2.1 billion in 2050. Geriatric population are also moving towards adopting surgeries that helps in minimizing wrinkles, obesity and other conditions. Also, hair restoration surgeries have gained a lucrative adoption among population with aged above 50. Thus, rising aging population is expected to drive the market of anti-aging products.

Anti-wrinkles Account the Most in terms of Market Revenues

Global anti-aging market has been segmented on the basis of products, services, demographics and devices. Anti-wrinkles account the largest share in products segment with around 36.40% market share in 2021. Adoption of anti-wrinkle products for defying aging effect and increasing investment in the segment is expected to drive the adoption of anti-wrinkles products and services. Further, companies operating in anti-aging market are also investing huge capital in the segment to develop new and innovative products, which is expected to drive the adoption over the forecast period.

Hair restoration: to grow at fastest rate across the globe

Hair Restoration in anti-aging market is projected to grow fastest with CAGR of 7.9% during the forecasted period. Hair Restoration is primarily driven by growing awareness among the individuals about hair and rapid rising in hair loss condition across the globe. For instance, as per The Hair Society, the hair loss rate increases from 40% in age 35 to 70% by age 80 among men. However, among females by age 60, they suffer from hair loss range of about 80%. As per the Social Issues Research Centre (SIRC), men with age group 45 years to 55 years are expected to be most dissatisfied with their appearance including, their rapidly hair losing hair by 2021. Thus, adoption of hair restoration technologies is increasing across the globe. Thus, increasing number of hair restoration procedures is expected to create affluent opportunity for anti-aging products.

North America Takes the Lion’s Share

Geographically, anti-aging market has been segmented into North America, Europe, Asia Pacific and Rest of World (ROW). North America accounts the largest share in the market owing to growing geriatric population in the United States and high household disposable income. For instance, as per Population Reference Bureau (USA), the number of individuals in United States aged 65 and above is expected to reach about 98 million by 2060, increasing from 46 million in 2016. Further, as per OECD, United States household per capita disposable income reached to $47,842 in 2016, offering a platform for adoption of anti-aging products and services. For instance, as per American Society of Plastics Surgeons (ASPS), around 17.5 million surgical and minimally invasive cosmetic procedures were performed in 2017, showing a rise of 2% from 2016 across United States.

The Intensity of Competitive Rivalry to Increase During the Forecast Period

Product launch & innovation is the primary strategy adopted by companies in global anti-aging market. Product launch & innovation helps the companies to increase their product portfolio and attract new customers.Merger & acquisition is the secondary strategy adopted by companies in global anti-aging market. Merger & acquisition helps the companies to increase their product portfolio, market share and customer base.The intensity of competitive rivalry in global anti-aging market is anticipated to increase (from moderate to high) through 2030. Manufacturing companies are likely to adopt new strategies to reach out more consumer and increase market share. Initiatives like product development, partnerships, collaboration, merger & acquisition and product launch are some of the key strategies deployed by companies in the market. With advancement in life science technologies like companion diagnostics, in-vitro screening etc.; product development pace will increase, and cost is likely to reduce in the long run. As a result, more institutions will invest in anti-aging industry thereby increasing competitive rivalry in the long run.The market has number of players and some of the major key players include global anti-aging market are L’Oréal S.A. (France), Australia Pvt Ltd (Sydney), Cynosure Inc. (U.S.), Olay (U.S.), Revlon (U.S.) and others.

Historical & Forecast Period

This research report presents the analysis of each segment from 2020 to 2030 considering 2021 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment are calculated for the forecast period from 2022 to 2030.

Report Methodology

Market revenues and CAGR were derived from primary and secondary research. Both quantitative and qualitative trends were considered for extrapolation of market revenues. the derived market estimates were further validated from top down, bottom strategies and primary research. the scope of the market is limited to the following segments of product categories and region.

By Demographics (2020-2030; US$ Mn)

Baby Boomers

Generation X

Generation Y
 
By Products (2020-2030; US$ Mn)

• UV Absorbers
• Anti-Wrinkle
• Anti-Stretch
• Marks Product
• Hair Color

By Services (2020-2030; US$ Mn)

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

By Devices (2020-2030; US$ Mn)

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

By Region (2020-2030; US$ Mn)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Global Impact of Covid-19 Segment (2020-2021; US$ Mn)

• Pre Covid-19 situation
• Post Covid-19 situation

Key questions answered in this report

• What are the key market segments in current scenario and in the future by product categories?
• What are the key market segments in current scenario and in the future by regions?
• What is the key impact of Covid-19 over market revenues and market determinants in the global anti aging market?
• What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
• What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
• How to overcome the current market challenges and leverage the opportunities in each of the market segment?
• Who are the key players in the operational predictive maintenance market and what are their key product categories and strategies?
• What are the key strategies – mergers/acquisitions/R&D/strategic partnerships etc. that companies are deploying to enhance market revenues and growth?