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The global anti-aging market was valued at $165.2 billion in 2017, which is expected to reach $303.2 billion by 2025, progressing at a CAGR of 7.9% during the forecast period (2018–2025).
The anti-aging market in APAC is predicted to witness the fastest growth, with a CAGR of 8.4%, during the forecast period. Rising number of cosmetic procedures, growing geriatric population, and increasing awareness among consumers are some notable factors driving the growth of the market in the region.
Factors Governing Anti-Aging Market
Availability of a wide form of portable anti-aging devices for wrinkle reduction, skin rejuvenation, cellulite reduction, and microdermabrasion has multiplied the inclination of consumers toward their usage at-home settings. The at-home available products and devices are more scientifically enhanced and protect the skin from damage. These products and devices are highly trending among the aged population, who is seeking to maintain a youthful appearance, while the adult generation is driven toward preventive measures to reduce premature of skin aging.
The aged population is associated with the loss of fibrous tissues and has reduced vascular and glandular network in skin layers. These lead to occurrence of wrinkles, dryness, pigmentary alteration, and skin sagging. To overcome such skin problems in elderly population, the anti-aging products and devices help in reducing skin aging, which offers younger look by revitalizing and tightening the skin.
Furthermore, e-commerce websites and social media are expected to create opportunities for market players to attract more customers and increase their sales across the globe. The cosmetic industry, including the anti-aging sector, is a supply-driven market, where the internet widens the marketplace for selling beauty and personal care products. Social-media platforms, such as Instagram and YouTube, help in increasing awareness about anti-aging products, devices, and treatments. The e-commerce websites, including Jabong, eBay, Snapdeal, Amazon, and Flipkart, sell products manufactured by various companies, such as Age Sciences Inc., L’Oréal S.A., Coty Inc., and Hindustan Unilever Limited (HUL). These products include antioxidants, sunscreens, serums, anti-aging eye care, and anti-aging creams. Due to a large number of competitors in the anti-aging market, the offline mode of sales is not helping these companies to increase their sales.
Anti-Aging Market Segmentation Analysis
Anti-wrinkle products generated the largest revenue, accounting for 59.3% share, in the anti-aging market in 2017. This is mainly attributed to the increasing awareness about Botox treatment for enhanced skin appearance among consumers. Furthermore, Botox held larger share in the anti-wrinkle market. The increasing number of Botox procedure, due to rising awareness about its aesthetic impact, is expected to drive the growth of the market in this category in coming years.
The radiofrequency category held the largest share in the anti-aging market, based on device. This is attributed to the innovative and advanced features of the radiofrequency devices, such as skin tightening, aesthetic enhancement, cellulite, and body contouring. Due to these features, the adoption rate of these devices among consumers has increased, which further drives the growth of the market in this category.
Hair restoration treatment is assessed to be the fastest-growing category, based on type of treatment. Increasing number of hair transplant surgeries across the globe is the key driving factor for the growth of the anti-aging market in this category. According to the International Society of Hair Restoration Surgery (ISHRS), around 635,189 procedures were performed in 2016, globally.
The generation X category is expected to witness fastest growth throughout the forecast period, based on demography. This can be due to the fact that people are more conscious about aesthetic appearance and therefore opt for anti-aging solutions for reducing signs of aging.
|Market Size by Segments||Product, Device, Treatment, Demography|
|Market Size of Geographies||U.S., Canada, Germany, U.K., France, Italy, Spain, Japan, China, India, South Korea, Brazil, Mexico, Saudi Arabia|
|Market Players||The Procter & Gamble Company, Nu Skin Enterprises Inc., Lumenis Ltd., Hologic Inc., Syneron Medical Ltd., Home Skinovations Ltd., Allergan plc, The Estée Lauder Companies Inc., Coty Inc., L’Oréal S.A., Orlane S.A., Age Sciences Inc., Alma Lasers GMBH|
Geographical Analysis of Anti-Aging Market
Globally, North America held the largest share in the anti-aging market, with the contribution of 32.8% share in 2017. With the surging number of plastic surgeries in the region, the demand for anti-aging products, devices, and treatments is also expected to increase, driving the growth of the regional market.
On the other hand, the APAC is the fastest-growing market for anti-aging products and devices. This is attributable to the increasing number of cosmetic procedures, growing geriatric population, and increasing number of conferences and seminars to raise awareness among consumers. With age-related aesthetic conditions, a large pool of geriatric population in India and China continue to drive the growth of the regional anti-aging market.
Competitive Landscape of Anti-Aging Market
The Procter and Gamble Company, Nu Skin Enterprises Inc., Lumenis Ltd., Hologic Inc., Syneron Medical Ltd., Home Skinovations Ltd., Allergan plc, The Estée Lauder Companies Inc., Coty Inc., L’Oréal S.A., Orlane S.A., Age Sciences Inc., and Alma Lasers GMBH are the major players that offer anti-aging products and devices.
Recent Strategic Developments of Anti-Aging Market Players
In recent years, major players operating in the global anti-aging market have taken several strategic measures, including product launches and approvals. For instance, in July 2018, Lumenis Ltd. introduced NuEra tight, a non-invasive, temperature-controlled top to toe radiofrequency-based skin laxity and cellulite treatment device in the 2018 Aesthetic show in Las Vegas, the U.S.
Similarly, in May 2018, Hologic Inc. received Health Canada Authorization to commercialize SculpSure Laser for non-invasive body contouring of the back, inner thighs, outer thighs, and under the chin. The product is recommended for patients with body mass index (BMI) of 30 or lower for abdomen, back, flanks, and inner and outer thighs.
Anti-Aging Market Size Breakdown by Segment
The anti-aging market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2025.
Based on Product
Based on Device
Based on Treatment
Based on Demography
Key Questions Addressed in the Report