The global anti-aging products and services market is projected to grow at a CAGR of 4.52% from 2019 to 2024. The market is studied for its services such as anti-pigmentation therapy, adult acne therapy, breast augmentation, liposuction services, abdominoplasty, chemical peel, eye-lid surgery, hair restoration and sclerotherapy. Based on devices, the market is studied for anti-cellulite treatment, laser aesthetic devices, microdermabrasion devices, radio frequency devices and others. Moreover, the products segment incorporates UV absorbers, anti-wrinkle products, anti-stretch products and others. Some of the end users of the market include hospitals, clinics, and home health care. The key demographics studied in the anti-aging and products and services market are baby boomers, generation X, and generation Y. Lastly, the market is studied for North America, Europe, Asia-Pacific and Rest of the World.
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Major drivers and restraints of the market
The market is driven by surging aging population, growing anti-aging awareness campaigns and innovative progressions. Increasing number of people longing for more noteworthy appearance is likewise anticipated that would drive the market size further. Botulinum toxin injection treatments, plastic surgeries, and breast implants have increased the considerable measure of popularity over the previous years, as more number of clients are opting for such anti-aging solutions. The global anti-aging products and services market is restrained by stringent regulatory environment and skepticism portrayed by consumers towards the use of anti-aging market’s services and products. However, proven advancement in technologies can help create better services and products in the future.
Hair restoration accounts for the largest market share
Among the services, the market for hair restoration is highest. This segment is projected to flourish at a lucrative rate owing to the significant increase in the number of hair transplantation procedures worldwide.
Radiofrequency devices are projected to be the highest based on various devices
The various devices of the market are anti-cellulite treatment, laser aesthetic devices, microdermabrasion devices, radio frequency devices and others. The radiofrequency devices held the largest share of the anti-aging market in 2017, due to several advantages offered by these products, such as skin tightening, aesthetic enhancement, cellulite, and body contouring and is expected to dominate the market by 2024.
High usage of anti-aging products amongst the generation X
The IVD market by end users is studied for baby boomers, generation x, and generation Y. The usage of anti-aging products and services is very high among the generation X owing to the rising popularity among them.
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High awareness regarding aging, the rise in obesity and sedentary lifestyle are fuelling the growth of anti-aging products in North America.
North America is estimated to account for the largest share in 2017, followed by Europe and Asia-Pacific. Factors such as high awareness regarding aging, the rise in obesity and sedentary lifestyle are fuelling the growth of anti-aging products in North America. In addition to this, the Asia-Pacific region is expected to grow at a lucrative growth rate during the forecast period. China, Singapore, South Korea, Japan, and India are observed to be the most attractive destinations for cosmetic surgeries. The major players involved in this market are Allergan plc, Alma Laser, Avon Products Inc, Beiersdorf AG, Coty Inc., Cynosure Inc, Estee Lauder Companies Inc., Johnson & Johnson, Kao Corporation, L’Oréal S.A., Lumenis Ltd, PhotoMedex, Inc., Procter & Gamble Co, Shiseido Company and Valeant Pharmaceuticals International, Inc. among others
Key Questions Answered in Report:
- What is the Future Scope of global Anti-Aging Products and Services market up to 2024
- What are the challenges to market growth?
- Who are the key vendors in the global Anti-Aging Products and Services market?
- What will the market size and the growth rate be in 2024?
- What are the key market trends impacting the growth of the global Anti-Aging Products and Services market?
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