The Latin America Anti-Aging Market was worth $27.5 billion in 2016 and estimated to be growing at a CAGR of 6.63%, to reach $37.91 billion by 2021.
Restoring the younger looks and thus finding solutions next to signs of aging has been a mission for cosmetologists and health care providers for centuries. As a result, market for anti-aging products is experiencing constant growth since decades. A variety of products and services are continuously entering into the market to serve the agenda of restoring younger looks.
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Major growth factors comprise of a general increase in the incidence of conditions and changes experienced by aging consumers. The amount of people looking for cosmetic services also shows large growth due to several factors such as a population of seniors growing at a pace higher than the general population. Though, normal aging does not imply disease, the occurrence of chronic diseases rises with advancing age. High cost of beauty or anti-aging products is likely to hamper this market.
The Latin America 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 segmetned 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.
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Based on geography the market is analysed under various countries namely, Mexico, Brazil and Argentina. Mexico is leading the market and expected to continue its dominance over the forecast period.
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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