Growing aging population across the globe is the main factor boosting the anti-aging market. Stern rules have led to the beginning of efficient and safe anti-aging services as well as products in the market and are expected to tower the anti-aging market in the coming period. Additionally, rising demand from consumer for anti-aging products along with advancement in technology are the reasons that propel the development of the anti-aging market. Global demand for anti-aging market was estimated of USD 140.3 billion in 2015. In 2021, the number for the same category will reach to USD 216.52 billion and is estimated to mature at 7.5% CAGR between 2016 and 2021. In addition to this, daily launch of new products is also one of the reasons that are propelling the global market. For instance, the recent launch of Botanicals Fresh care by L’Oreal for hair care and anti-aging purpose fuel the global market.
The anti-aging market has been divided on the basis of products, age demographic, devices, and services. Factors like a growing awareness among masses about anti-aging, continuous technological enhancements, and rising adoption will fuel the global market in the near future. On the basis of age geographic, the global market is bifurcated as generation x, baby boomer, generation y. Based on product the global anti-aging market is divided as anti-wrinkle products, Botox, anti-stretch mark products, and others. On the basis of services, the global market is categorized as anti-adult acne therapy, anti-pigmentation therapy, liposuction, breast augmentation, hair restoration treatment, chemical peel, and others.
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Based on devices the global anti-aging market is segmented as laser aesthetics, microdermabrasion, anti-aging radio frequency devices, anti-cellulite treatment, and others. Regionally, the market has been segmented into Europe, North America, Latin America, Asia-Pacific, and the Middle East & Africa. The growing demand from the U.S regarding the anti-aging products and services is the main reason as to why the global market flourished in North America. The same reason was responsible for the growth of global market in Europe. Asia-Pacific will be in focus as it is expected to have the uppermost growth among all areas.
The environment of the global market is very cut throat due to rising competition. The major contenders in the race of the global anti-aging market are Alma Lasers Ltd, Personal Microderm, Allergan Inc, L’Oreal, Solta Medical Inc, Cynosure Inc., Beiersdorf AG and others.