As the age of the person increases, the skin ages too. It is not possible to stop the time but steps can be taken to reduce its effects on the skin. Anti-aging products help the consumer to gain skin radiance, enable skin tightening & hydration, and improve the skin texture & skin elasticity while anti-aging treatment reduces the wrinkles and fine lines.
The demand for anti-aging products and therapies is escalated with the rise in the number of baby boomers that are entering the middle ages which are boosting the growth of the global anti-aging products and therapies market. Further, an increase in disposable income, a growing focus on self-care, and increase in spending of the consumer on cosmetic & personal care products are some of the factors that are fueling the growth of the global market. Also, development in the medical technology that helps to restore youthful appearance and availability of wide range of anti-aging products for cellulite reduction, skin rejuvenation & wrinkle reduction is driving the growth of the market. For instance, in December 2019, a new anti-aging therapy was introduced by Libella Gene Therapeutics and also started its first human trial. In addition to this, growing demand for natural & organic products, increase in skincare products through e-commerce platforms and rise in adoption of effective marketing & advertising strategies by the major players to attract the consumers are also majorly contributing to the growth of the market. Furthermore, increase in R&D activities for the development of innovative skin solutions and devices for skin treatments may lead to ample opportunities for the growth of the global market.
The global anti-aging products and therapies market is divided based on product types, therapies & services, distribution channel, devices, demographics, and region. Based on the product types, the global market is split into anti-stretch marks, anti-wrinkle, anti-aging, multifunctional, natural, and others. The therapies & services segment comprises hair restoration services, hormone replacement therapy, rejuvenation & dermal fillers, injectable skin, gene therapy, BOTOX, breast augmentation, liposuction, and others. Rejuvenation centers, hospitals/pharmacies/drugstores, dermatology clinics, and others are the distribution channels classified under the distribution channel segment. The devices segment is categorized into radiofrequency devices, laser aesthetic devices, microdermabrasion devices, anti-cellulite treatment devices, and others. Based on the demographics, the market is bifurcated into Generation Y, Generation X, and baby boomer.
North America is estimated to contribute to the maximum share in the global anti-aging products and therapies market over the forecast period. Growing demand for anti-aging products from baby boomers, presence of major players, and increase in R&D activities for product launches are the major factors that are fueling the market growth in this region. Asia Pacific market is predicted to grow at a faster rate owing to rise in expenditure on skincare products and growing focus on self-care.
Some of the prominent players in the global anti-aging products and therapies market are Skin Food, Merck, Chanel, Oriflame, Estee Lauder, Inc., Procter & Gamble, Solta Medical, Inc., Lumenis, Cynosure, Beiersdorf AG, and Allergan, Inc. among others.
