Anti-ageing market is observed to be one of the growing markets in today’s world. Modern technologies have initiated the involvement of novel anti-ageing treatments and products, which is fuelling the anti-ageing products, service and devices market growth. The company forecasts the market to grow at a significant CAGR of more than 7 % from 2015 to 2019.
Overall, devices market is observed to be the fastest growing market with a double digit growth during the forecast period as compared to products and services, though by value it is less compared to other two segments. The U.S. is the biggest market for anti-ageing products, services and devices. Based on various devices, radio frequency devices segment is anticipated to account for more than 50% value share of the overall market by 2016 end. Followed by radio frequency devices is anti-cellulite treatment devices segment, which is expected to account for a growth of around 20% during the forecast period. Moreover, devices market shows a comparatively moderate competition in case of radio frequency and laser aesthetic devices while in case of other devices it’s high.
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Since, cellulite is a common problem, which has affected more than 90% female population, awareness among the population to maintain youth and beauty is an important factor for the development of new and safe anti-cellulite treatment devices. This has led to consumer inclination towards cellulite treatment, which is driving the anti-cellulite treatment devices market growth across the globe. Anti-ageing devices market is also led by North America, wherein the major devices led are anti-cellulite treatment and radio frequency devices. Technological developments and UFDA regulations have also been a major driver for gaining trust of people about various anti-ageing products, devices and services entering in the region.
The future growth of products is observed to depend on the innovation and technological development with increase in the efficacy and safety of anti-ageing products. High awareness about ageing signs, rise in obesity and sedentary lifestyle are fuelling the market growth. Anti-ageing services and products market are observed to be more mature markets than devices but demand for devices for personal use is increasing across the globe. Safety and efficacy are major concerns in anti-ageing market so introduction of such products have an opportunity window to enter and establish in this growing market. Also, anti-ageing market is driven by credibility of a particular brand as the effectively and safety are the most important concerns of customers against any anti-ageing product, service or device. It is observed because of high concentration of failed and fake products, services or devices in anti-ageing market.
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Opportunity for new products, services or devices are high as the market consists of established players and their brands but market is still in search of minimally invasive services, highly efficient products and portable and technologically advanced devices. With socio-economic development in many developing countries and ageing of the population, obesity and stranded lifestyle have become the most highlighting problems in these regions. Thus, tapping emerging markets for the use of anti-ageing products, devices and services show major growth opportunity to cater the needs of population.