The Global Anti-Aging Market was worth $250 billion in 2016 and estimated to be growing at a CAGR of 5.8%, to reach $331.41 billion by 2021. The future growth of anti-aging market is observed to rely on the advancement and technological development with enhanced efficacy and safety of anti-aging products.
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Aging is achieved by a series of diverse biochemical procedures in the body that persuade it, both internally and externally. These biochemical procedures cause the body to deteriorate over a timeframe, affecting the wellbeing, wellness and physical appearance of an aging person. Anti-aging involves procedures and medication intentional to delay, stop or retard the aging process.
Anti-ageing market is observed to be one of the rising markets in today’s world. New technologies have initiated the association of new anti-ageing treatments and products, which is propelling the anti-ageing products, service and devices market growth. Increased awareness about ageing signs, increase in obesity and sedentary routine are fuelling the market growth.
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The global Anti-Aging market is segmented on the basis of demographics into Baby Boomers, Generation X and Generation Y. On the basis of products the market is divided among UV Absorbers, Anti-Wrinkle Products, Anti-Stretch Marks Products, Natural Products and Hair Colour. Based on services the market is segmented into Anti-Pigmentation Therapy, Adult Acne Therapy, Breast Augmentation, Liposuction Services, Abdominoplasty, Chemical Peel, Eye-Lid Surgery, Hair Restoration and Sclerotherapy. By devices, the segmentation is among Anti-Cellulite Treatment Devices, Microderm Abrasion Devices, Laser Aesthetic Devices and Radiofrequency Devices. Baby boomer and generation X are considered as the majority informed and cost-effective customer group for anti-aging market.
Based on geography the market is analysed under various regions namely, North America, Latin America, Europe, Asia-Pacific and Middle-East & Africa. North America dominated the anti-aging market in 2016 owing to the high awareness about signs of aging and increasing obesity in the region. Asia Pacific is likely to experience utmost growth in the near future, mainly due to approval of new anti-aging services, products and devices in this region.
The key players dominating the anti-aging market include Coty Inc., Personal Microderm, Beiersdorf AG, Photomedex Inc., Lumenis Ltd, Alma Lasers Ltd, Solta Medical Inc., Cynosure Inc., L’Oreal, SA, and Allergan Inc. Opportunity for new products, services or devices are high as the market consists of recognized players and their brands.
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