Increasing awareness regarding skin health and beauty, rise in the geriatric population, and growing penetration of social media are some key factors expected to drive market growth
According to Emergen Research, the global anti-aging devices market size was USD 7.49 billion in 2019 and is expected to reach USD 14.22 Billion in 2027 and register a revenue CAGR of 8.3% during the forecast period, 2020-2027.
Anti-aging devices contain hydrating properties that keeps the skin moist, reduce wrinkles, and fine lines by stimulating healthy skin growth. In addition, these devices boost collagen, protect skin from sunlight, and helps users to maintain a refreshed, attractive appearance, and thus improves self-confidence. These benefits of anti-aging devices has been boosting demand for cellulite reduction, skin rejuvenation, and skin tightening services and is expected to drive market revenue growth during the forecast period.
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In addition, growing geriatric population, rising popularity of social media and increasing incidence of skin cancer (especially, among women) are other factors expected to drive market revenue growth during the forecast period. Further, technological advancements in anti-aging skin treatments and increase in research activities on medicinal skin remedies are other factors expected to boost market growth. For instance, Laser resurfacing, also referred to as laser vaporization, light therapy and laser peel is a popular procedure that uses light energy in regeneration of skin cells. It boost energy levels of skin cells and improve immune system. However, high cost of anti-ageing devices, risk associated with laser skin treatments (such as swelling, infection) are factors that can hamper market growth to a certain extent during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Laser Devices Segment Revenue to Expand at a Rapid CAGR:
Laser devices segment is expected to register a rapid revenue CAGR over the forecast period due to technological developments in laser technology to enhance skin tone, texture and pigmentation. Laser skin resurfacing help skin look healthier and younger and permanently removes blemishes. It can also diminish wrinkles, fine lines, and dark spots on the surface of the skin.
Skin Tightening Segment to Register Significant Revenue Growth:
Skin tightening segment is expected to register significant revenue growth over the forecast period owing to rising number of cosmetic procedures, growing aging population, and rising incidence of skin diseases. Skin tightening is a minimally invasive or non-invasive procedure that involves changing the external appearance of stomach, face, arm, and other body parts, with fewer complications and fast recovery.
North America to Account for Largest Revenue Share:
North America is expected to account for largest revenue share in the global market over the forecast period due to well established healthcare infrastructure, rising average life expectancy, and growing adoption of anti-aging products. In addition, presence of key market players, rise in disposable income and technological advancements in anti-aging treatments are some other factors expected to contribute to market growth in the region.
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Major Companies in the Market Include:
- Cynosure Inc.
- Home Skinovations Limited
- Allergan PLC
- Cutera Inc.
- Alma Lasers Limited
- Lumenis Limited
- Koninklijke Philips NV
- Merz Pharmaceuticals GmbH
- Sciton Inc.
For the purpose of this report, Emergen Research has segmented the anti-aging devices market on the basis of device type, product type, application, and region:
Device Type Outlook (Revenue, USD Billion; 2017-2027)
- Stand-Alone Devices
- Direct-To-Consumer Devices
Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Radiofrequency Devices
- Laser Devices
- Combination Technologies
- Pulsed Light Devices
- Exfoliation Devices
- Ultrasound Devices
- Light Therapy
Application Outlook (Revenue, USD Billion; 2017-2027)
- Skin Rejuvenation
- Hair Removal
- Skin Tightening
- Body Contouring
- Cellulite Reduction
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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