The past decade has witnessed incredible progression of the field of cosmetics. The impact of advanced technologies as well as pharmaceutical methods and drug delivery systems has resulted in the field of cosmetic dermatology. The objective of anti-ageing is to give people the possibility of enjoying an optimal quality of life in old age through technology and increasing further life expectancy. It is not the concept of normal ageing that is the focus of anti-aging medicine, but rather the idea of ageing successfully while maximising performance. Anti-aging refers to the treatment, prevention, and reversal of age-related conditions such as scars, spots and wrinkles. Numerous anti-aging products available in the market in different forms such as serums, cleansers, creams, gels, moisturizers and facial oils, which are used to treat aging-related problems such as acne, scars, wrinkles, stretch marks etc.
The global anti-aging products and services market has gained significant growth owing to surging aging population, increasing anti-aging awareness campaigns and technological advancements. Growing number of individuals yearning for greater appearance is also expected to drive the market size further. Botulinum toxin injection therapies, plastic surgeries, and breast implants have gained substantial amount of popularity over the past years, as large number of customers are opting for such anti-aging solutions. Furthermore, strict regulations regarding usage of cosmetic products have led to introduction of safe and efficient anti-aging products and services in the market. Moreover, new product launches and their expanding application areas coupled with favourable reimbursement policies are some of the opportunities which are expected to fuel the growth of this market in coming years. However, the global anti-aging products and services market is hampered by stringent regulatory environment and scepticism portrayed by consumers towards the use of anti-aging market’s services and products. However, proven advancement in technologies can help create better services and products in future.
The report analyses the global anti-aging products and services market based on services, devices, products, demographics, end users and geography.
Based on services, the market is segmented into anti-pigmentation therapy, adult acne therapy, breast augmentation, liposuction services, chemical peel, hair restoration and others which (include eye-lid surgery, abdominoplasty, sclerotherapy etc.). Hair restoration treatments held the largest market share in 2017 and is anticipated to flourish at a lucrative rate owing to the significant increase in the number of hair transplantation procedures worldwide.
Based on devices, the global anti-aging products and services market is segmented into radio frequency devices, laser aesthetic devices, microdermabrasion devices, anti-cellulite treatment devices and others. Among various devices, the radiofrequency devices held the largest share of the anti-aging market in 2017, due to several advantages offered by these products, such as skin tightening, aesthetic enhancement, cellulite, and body contouring.
Moreover, the products segment is categorized into Botox & dermal fillers, anti-wrinkle products, anti-stretch products and others including UV absorbers, hair colour etc. The anti-wrinkle products held the largest market share in 2017, since wrinkles are the most prominent sign of aging and anti-wrinkle products help in reducing the same.
Whereas, on the basis of demographics, the market is segmented into baby boomers, generation X and generation Y. Among the demographics, baby boomers accounted for the largest share of the market in 2017, as the anti-aging products and services are gaining popularity among them. This large group, much of it quite wealthy, can be characterized as demanding customers, who attribute a lot of value to the quality of their purchases, expect professional advice and prefer anti-aging products with a high technological added value.
Global anti-aging products & services market finds its major end users in hospitals, clinics and home healthcare. Home healthcare segment accounted for largest market share in 2017, while hospitals are projected to grow at a fastest growth rate from 2019 to 2024. The growth of hospitals is majorly driven by significant increase in the number of cosmetic procedures worldwide.
By geography, the global anti-aging products and services market is studied across the countries of key regions such as, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is estimated to account for the largest share in 2017, followed by Europe and Asia-Pacific. Factors such as high awareness regarding aging, rise in obesity and sedentary lifestyle are fueling the growth of anti-aging products in North America. In addition to this, the Asia-Pacific region is expected to grow at a lucrative growth rate during the forecast period. China, Japan, Australia and India are observed to be the most attractive destinations for cosmetic surgeries. The governments of these countries are endorsing medical tourism for cosmetic surgeries, which is believed to be one of the market drivers of these countries in anti-aging products and services market.
Some of the major players operating in the Anti-Aging Products and Services market include Allergan plc, Alma Lasers, Avon Products Inc, Beiersdorf AG, Coty Inc., Cynosure Inc, Estee Lauder Companies Inc., Johnson & Johnson, Kao Corporation, L’Oréal S.A., Lumenis Ltd, Procter & Gamble Co, and Shiseido Company among others. Strategies such as expansions, as well as partnerships were also implemented by numerous market players to expand their R&D competences and geographic presence in the global market. For instance, in January 2017, L’Oréal S.A partnered with Valeant pharmaceuticals to acquire its skincare brands CeraVe, AcneFree and Ambi. The acquisition was aimed at expanding L’Oreal’s active cosmetics division. Also, in December 2016, Allergan Plc. acquired LifeCell, an Acelity L.P. Inc. company. This acquisition was aimed at combining LifeCell’s regenerative medicines business with Allergan’s medical aesthetics, breast implants and tissue expanders business.
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