Aging is defined as the cycle of biochemical activities in the body caused by factors which affect body over a period internally as well as externally and leads to degeneration of body affecting beauty, health and fitness of an individual. Because skin health and beauty is considered one of the principal factors representing overall well-being and the perception of health in humans, several anti-aging strategies have been developed. The anti-aging market has evolved over centuries, and modern technology has contributed with widening its reach in products, services and devices. Anti-aging products provide a market which has high adoption as it is comparatively affordable and available than services and devices. The technological development and stringent regulations have helped the market to regain trust and belief of customers.
Anti-Aging Market: Drivers and Restraints
Anti-aging market is not only driven by population turning old but also by the young population who are willing to delay the process of aging (especially with their appearance) start from their mid-thirties to care about their skin, hair and body. Most of the young population is experiencing drastic environmental changes and sedentary lifestyle which has ultimately increased many problems and have to turn them more conscious about their beauty, appearance, and health. Thus aging population is one of the major drivers of the anti-aging market.
Factors such as the increase in beauty and appearance expenditure, rising anti-aging awareness, and assurance about safety and efficacy of anti-aging products, services and devices are driving the market for anti-aging market.
Anti-Aging Market: Overview
Restoring the younger looks and thereby finding solutions against signs of aging has been a mission for cosmetologists and health care professionals for centuries. Various products and services are perpetually entering the market to serve the agenda of restoring younger looks. The market is still regarded as being in its evolutionary phase, and the products and services within it are often met with skepticism by consumers. However, these factors have been mitigated to some extent thanks to demonstrated advancement of technologies and the introduction of stringent regulations for these products. This has reinstated the trust of consumers to a great extent.
Anti-Aging Market: Region-wise Outlook
Regionally, the market can be segmented into North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. North America is the leading geography for anti-aging market due to high awareness about aging signs, the rise in obesity and sedentary lifestyle which are the major drivers of this market. Asia-Pacific and Latin America are expected to be the next potential destinations for anti-aging market. China, South Korea, Japan, and India are observed to be the most attractive destinations for cosmetic surgeries and governments of these countries are promoting medical tourism for cosmetic surgeries which is believed to be one of the market drivers of these countries in anti-aging market. Brazil and Mexico are the major countries which are leading the anti-aging market. The developing economies of these regions and awareness about aging signs in men and women have made these regions as future attractive markets for anti-aging products and devices.
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Anti-Aging Market: Key Players
Some of the market players in the anti-aging market include Acorda Therapeutics, Allergan, Inc., Alma Lasers, Beiersdorf AG, Biotime, Inc., PhotoMedex, Inc., Solta Medical, a division of Valeant Pharmaceuticals, Zimmer Biomet Holdings. Anti-aging market is observed to be most competitive as the market consists of most of the established companies. Botox market is dominated by Allergan which has the major share of this market, and it has less competition compared to other segments.
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