Published: Sep, 2016
Vendors operating in the global anti-aging market are focused on intensive research and development of products and services that are safe and efficient. Transparency Market Research observes that players are working towards matching the industry standards of safety and effectiveness through innovation to accentuate their market shares. Some of the key players identified by researchers are Allergan, Inc., Solta Medical, Inc., Cynosure, Inc., and L’Oreal SA.
Dermal Fillers Registers Significant CAGR of 23.4% between 2013 and 2019
According to the research report, the opportunity in the global anti-aging market is anticipated to reach US$191.7 bn by the end of 2019. During the forecast years of 2013 and 2019, the global market is anticipated to surge at a CAGR of 7.8%. North America is anticipated to have a dominant share in the global market as its revenues touch US$64.9 bn by the end of forecast period. The anti-wrinkle product segment, which is further sub-divided into dermal filler is projected to expand at a CAGR of 23.4% between 2013 and 2019. This noteworthy growth rate is attributed to the growing recognition of these products offering impeccable skin rejuvenation.
Consciousness about Aging and Beauty Drives Baby Boomers to Invest in Anti-Aging Products and Services
The global anti-aging market has been thriving as the products and services it offers come with a promise of reversing the signs of aging. The success of the global market is hinged on the possibility of therapies available in this market can restore the youthful glow and radiant skin. The surging geriatric population is the prominent consumer base of the global anti-aging market in both developing as well as developed countries. The U.S. Census Bureau projected that the aging population will reach 244.7 million in 2018, a mammoth figure that will drive the market in the coming years. “Baby boomers looking out for alternative career options post retirement are driving the demand for anti-aging products and services are they are conscious about looks, beauty, and health,” states the lead author of this research report.
Over the past few years, the stringent regulatory reforms have led to the introduction of a safe anti-aging products and services in the global market. This has increased the uptake and the revenues for the overall market. The increasing investments in research and development of high-quality of products along with focus on improving their efficiency is anticipated to have a positive impact on the overall market in the near future. The growing awareness about signs of aging amongst the younger generations due to impactful advertising by various brands has also led to a rise in the adoption of anti-aging products and services.
Consumers Opt for Corrective Surgeries due to Instant Benefits
The alternatives to anti-aging products and services such as cosmetic and corrective surgeries is clearly a hurdle for the global market. With technological advancements, these surgeries offer best results and come with reduced recovery time. Thus, invasive surgeries has dramatically hampered the sales of anti-aging products and services market. The brand loyalty of consumers towards certain brands has made it near-to-impossible for new entrants to be a part of the global competitive landscape. However, emerging economies that have a huge pool of aging population are projected to offer the global market several lucrative opportunities.
The aforementioned review is based on Transparency Market Research’s research report, titled “Anti-aging Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019.”
Key segments of the Global Anti-aging Market
Global Anti-aging Market by Demographics
- Baby Boomers
- Generation X
- Generation Y
Global Anti-aging Market by Products
- UV Absorbers
- Anti-Wrinkle Products
- Anti-Stretch Marks Products
- Hair Color
Global Anti-aging Market by Services
- Anti-Pigmentation Therapy
- Adult Acne Therapy
- Breast Augmentation
- Liposuction Services
- Chemical Peel
- Eye-Lid Surgery
- Hair Restoration
Global Anti-aging Market by Devices
- Anti-Cellulite Treatment Devices
- Microderm Abrasion Devices
- Laser Aesthetic Devices
- Radiofrequency Devices
Global Anti-aging Market by Region
- North America
- Asia Pacific
- Rest of the World
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