The need to slow the physiological effects of aging and retain the youthfulness and beauty of the skin has been driving the anti-aging products, services, and devices market for centuries. Thanks to advanced technologies, effective promotional and advertizing campaigns, rising awareness about the availability of surgical procedures, and growing disposable incomes, the demand for anti-aging products has remained steady, if not grown.
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Here’s a look at the key regional anti-aging markets:
Rising Aging Population Key Growth Driver in Asia
Increase in aging population, availability of a wide variety of products, and strong promotional campaigns have enabled anti-wrinkle products to be the largest product segment in Asia, amounting to US$8,088.3 million in 2013.
Japan has become a major center for aesthetic products and procedures in Asia, thanks to rising awareness about these procedures and their availability at a reasonable cost. In 2010, the number of Botox procedures in Japan was pegged at 146,150 by the International Society of Aesthetic Plastic Surgeons, which rose to 208,313 in 2011.
China is also a key market for anti-aging products and services in Asia given the anticipated rise in aging population, increase in commercially available products, and rising disposable income.
Spain and Italy Leading Anti-aging Markets in Europe
The anti-aging market in Europe comprises Italy, Germany, France, Spain, the U.K., and Rest of Europe. Among the major anti-aging product types, anti-wrinkle products led the Europe market in 2013 owing to increased awareness and easy availability of a wide range of products at a reasonable cost. Of the key anti-aging devices, laser aesthetic devices held the largest share in 2013 given its cost-efficiency, peaking demand, and permanent and efficient effect.
The European market has made a steady recovery from the economic crisis and the rise in disposable income has had a positive impact on the demand for anti-aging services. In 2013, Italy held the largest share of the anti-aging services market in Europe owing to growing demand for hair restoration treatments and breast augmentation. Spain, however, is anticipated to develop at the fastest pace through 2020 primarily due to rising adoption of sclerotherapy. Increase in obese population and geriatric population and growing prevalence of varicose veins are the main factors responsible for the future development of the anti-aging services market in Spain.
Brazil becomes Center for Aesthetic Treatments in South America
The growth of the asia europe and south america anti-aging market services in South America can be attributed to rising awareness and high accessibility.
Among the major anti-aging services, hair restoration treatment services have been witnessing the highest demand owing to availability of skilled workforce and growing preference for minimally-invasive surgeries. However, presence of strict regulatory guidelines threatens to restrict the growth of this segment.
Brazil is one of the largest markets for anti-aging products, services, and devices across South America. The adoption of radiofrequency treatment and laser treatment has fueled the Brazilian market in recent years owing to the efficacy and safety of these treatments. While the laser aesthetic devices segment amounted to US$59.0 million in 2013, the radiofrequency devices segment stood at US$19.2 million.
When it comes to aesthetic procedures, Brazil is the leader of the market in South America. In 2011 alone, an estimated 1,447, 213 aesthetic procedures were recorded in Brazil thanks to availability of advanced techniques, affordable rates, and a well-defined regulatory infrastructure. People travel to Brazil from all over the world for aesthetic treatments and procedures, boosting the growth of the overall anti-aging market in the country and South America.
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