Anti-Aging Market Size Growth Opportunities, Driving Factors by Manufacturers, Regions, Type & Application, Forecast to 2025
The advancement in technology has given rise to new types of anti-aging products, devices and services, which are contributing towards market’s growth. The increase in average life expectancy of an individual has given rise to the geriatric population. The increasing beauty consciousness amongst people has contributed to the growth of this huge industry, which caters to several types of problems that people might have concerning their appearance. With new innovations in technology, safer and more efficient services have been introduced, which have gained wide popularity.
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On the basis of types of products, the global anti-aging industry is segmented into anti-wrinkle, hair color, ultraviolet absorbers, anti-stretch marks, etc. The anti-wrinkle products held the highest share in the market by product type in 2016, and they are expected to grow even further during the forecast period. They are expected to dominate the market by almost 70% by the year 2025.
Based on types of devices, the market can be classified into radiofrequency, laser, microdermabrasion, anti-cellulite, etc. The radiofrequency devices have been the most popular, constituting for almost 40% of the market share (by device) in 2016. These devices help in skin tightening, reducing cellulite, body contouring, and aesthetic enhancement. All these benefits have resulted in their increased popularity amongst people.
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On the basis of treatment, the anti-aging market can be categorized into various services such as adult acne therapy, anti-pigmentation therapy, botox, dermal fillers, facelifting, liposuction, breast augmentation, chemical peeling, abdominoplasty, eyelid surgery, aesthetic surgery and hair restoration. Among these, the hair restoration treatment holds the largest market share and is estimated to grow steadily over the forecast period.
The natural products segment is expected to witness the highest growth rate due to rising awareness among people for adopting a sustainable way living. Many companies have gone full vegan, manufacturing products with just natural components, without using any chemicals or animal products, and refraining from testing these products on animals, thus reducing animal cruelty. Moreover, the use of chemical products can cause long-term harm and other side effects as well. So, the natural way of production is a great initiative being taken in this fast-growing market.
In European and American countries, procedures such as cellulite reduction and liposuction are widely accepted. Cellulite reduction treatment is widely observed in people between the age of 30 and 50, followed by anti-aging treatments, which is popular among people aged between 51 to 65 years. Rising awareness amongst the population to keep up with beauty and health trends is an essential factor for the growth of safe cellulite reduction devices.
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The anti-aging market is very competitive, with major key players acquiring small aesthetic based companies, to expand their own product line. The manufacturers are heavily investing in the research and development of new products and devices, which can better help in improving the aesthetic appearance of an individual, without causing any harmful side-effects. However, there is still hesitation and judgment amongst people in our society towards the use of these products. Additionally, there are strict regulations and approval procedures set up by the government, before a new anti-aging product or device can be introduced to the market. These two factors are the major restraints in this industry.
L’Oreal SA, Allergan Inc., Personal Microderm Coty Inc., Photomodex Inc., Alma Lasers Ltd., Solta Medical Inc., and Beiersdorf AG are some of the key players in the global anti-aging market.
What to expect from the Global Anti-Aging Market report?
- The future predictions made for this market during the forecast period.
- Information on the current trends, technologies, procedures, devices, and products in the industry.
- The government regulations and economic factors affecting the growth of market.
- In-depth analysis of the market segmentation, depending on the types, devices, and products.
- The regional demographics of the market.
- An insight into the leading manufacturers.
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