SEATTLE, June 03, 2021, (MEDGADGET) — Impact of COVID-19 Epidemic
The American Society of Plastic Surgeons has advised that all elective or non-essential services be postponed, resulting in a decrease in the number of cosmetic procedures such as chemical peels, botulinum toxin therapy, dermabrasion, and others, stifling the anti-aging treatment market’s growth. According to an article published in the Aesthetic Journal on April 3, 2020, the COVID-19 lockdown in London has caused 81% of clinics to close and 67% to lose income.
Furthermore, owing to the COVID-19 pandemic, many skincare and cosmetic firms are seeing a drop in revenue. On May 12, 2020, Shiseido Corporation, a Japanese multinational personal care company, issued its financial statement for the first quarter of 2020, announcing year-over-year net revenue declines of 14.6% and 19.2% in the North American and Asia Pacific businesses, respectively.
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The body is more adaptive at recovering missing cells in the early stages of human life because it is stable and durable. The body’s ability to repair and replace such cells declines as it ages, resulting in cell death and, as a result, ageing. Furthermore, unhealthy lifestyles such as smoking and heavy intake of processed foods and alcohol contribute to early ageing. The emergence of dark spots on the skin, sagging skin, lines and wrinkles, dullness, and patchy skin are all symptoms of ageing. Botulinum toxin treatment, chemical peels, microdermabrasion, and the use of anti-wrinkle and anti-aging products all help to slow down the ageing process.
During the forecast period (2020-2027), the global anti-aging treatment market is expected to manifest a CAGR of 7.3% and is expected to have a market valuation of US$ 21.06 billion in 2020.
Rising adoption rate of aesthetic procedures for anti-aging treatment is expected to boost growth of the global anti-aging treatment market during the forecast period.
Increased preference of aesthetic procedures such as chemical peel and microdermabrasion among people, is expected to stimulate growth of the global anti-aging treatment market during the forecast period. In 2017, the International Society of Aesthetic Plastic Surgery reported that 2,051,984 facial rejuvenation procedures were performed worldwide, with 357,753 chemical peels and 268,423 microdermabrasion procedures.
- According to type of product: Anti-Wrinkle Products, UV Absorbers, Anti-Wrinkle Products, Anti-Stretch Mark Products, Anti-Wrinkle Products, Others.
- According to Technology: Dermabrasion, Botulinum Toxin Therapy, Fractional Laser Skin Resurfacing, Microdermabrasion, Dermal Fillers, Chemical Peels, Nonablative Skin Rejuvenation.
- According to End User: Hospitals, Homecare Settings, Skin Care Clinics, Others.
Over the forecast period, the global anti-aging treatment market is expected to expand due to the increased launch of new and advanced anti-aging drugs.
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Players in the industry are concentrating on expanding their product portfolios by introducing new and innovative anti-aging treatment products, which is expected to fuel growth of the global anti-aging treatment market during the forecast period. For instance, NuFACE, a provider of microcurrent treatments in homecare settings, introduced the FIX line smoothing serum and the FIX Line Smoothing System in January 2019.
The device is designed to target fine lines and wrinkles around the lips, eyes, and forehead when used in conjunction with the serum.
High cost associated with aesthetic procedures is expected to hamper growth of the global anti-aging treatment market during the forecast period. The estimated cost of botox care in the United States is US$ 397, according to the American Society of Plastic Surgeons, while a single session of microdermabrasion costs around US$ 131 and a chemical peel costs around US$ 669.
Key companies contributing in the global anti-ageing treatment market are Beiersdorf AG, PhotoMedex, Inc, NuFACE, Ostium Cosmetics, Rodan & Fields, LLC, Alma Laser, L’Oréal S.A, Estée Lauder Companies, Allergan Plc, and Shiseido Company.
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- Global Anti-aging Treatment Market, By Product Type:
- UV Absorbers
- Anti-Wrinkle Products
- Anti-Stretch Mark Products
- Natural Products
- Global Anti-aging Treatment Market, By Technology:
- Botulinum Toxin Therapy
- Chemical Peels
- Fractional Laser Skin Resurfacing
- Dermal Fillers
- Nonablative Skin Rejuvenation
- Global Anti-aging Treatment Market, By End User:
- Skin Care Clinics
- Homecare Settings
- Global Anti-aging Treatment Market, By Region:
- North America
- Latin America
- Asia Pacific
- Middle East
- Company Profiles
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