London, March 29, 2022 (GLOBE NEWSWIRE) -- The global anti-aging market size was valued at US$ 60.42 billion in 2021. For decades, the healthcare specialists and cosmetologists have been responsible with restoring youthful appearances and as a result discovering answers to age-related problems. Various goods and services are constantly being introduced to the anti-aging market with the goal of restoring youthful appearances. The botulinum toxin injection therapies, breast implants, plastic surgeries, and other anti-aging treatments and products have been introduced as a result of technological improvements and large investments in research and development efforts. The strict laws and regulations have prompted producers to introduce safer and more effective anti-aging treatments that deliver immediate effects to consumers, hence expanding the anti-aging market’s growth prospects.
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The anti-aging market is propelled by not only by the aging population, but also by the young population who are starting in their mid-age, care about their skin, body, and hair in order to delay the aging process particularly with their appearance. The majority of the youthful population is through significant environmental changes and leading a busy lifestyle, which has resulted in an increase in many problems and necessitates making them more aware of their beauty, health, and appearance. As a result, one of the primary drivers of the anti-aging market is the aging population.
| Report Scope | Details |
| Market Size in 2021 | USD 60.42 Billion |
| Revenue Forecast by 2030 | USD 119.6 Billion |
| Largest Share Holder | North America |
| Fastest Growing Region | APAC |
| Forecast Period | 2022 to 2030 |
Report Highlights
- Based on the products, anti-wrinkle segment is estimated to be the most opportunistic segment during the forecast period. This can be attributed to increased awareness of the impact of anti-wrinkle products.
- Based on the demography, the generation X segment dominated the global anti-aging market in 2020 with highest market share. This is mostly due to people’s increasing awareness of their skin’s look and as a result the need to lessen the indications of aging.
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Regional Snapshot
Asia-Pacific is the largest segment for anti-aging market in terms of region. The Asia-Pacific region has been identified as one of the most appealing destinations for cosmetic surgery with governments in region supporting medical tourism for cosmetic procedures, which is seen to be the region’s major drivers in the anti-aging market.
North America region is the fastest growing region in the anti-aging market. Due to well-established infrastructure, increasing average life expectancies, and presence of key market players in the region, the anti-aging market in North America is expected to grow significantly.
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Market Dynamics
Drivers
Shift in consumer preferences
The widespread availability of at-home anti-aging equipment for wrinkle reduction, skin rejuvenation, cellulite reduction, and microdermabrasion has led to an increase in customer interest. Furthermore, these products are scientifically advanced and portable. The popularity of at-home anti-aging solutions is on the rise globally, with adults seeking ways to retain their young appearance and the elderly focusing on measures to keep the indications of ageing at check. As a result, this shift in consumer preference is driving the growth of the anti-aging market during the forecast period.
Restraints
High cost of anti-aging treatments
The doctors and healthcare providers treat people with various type of processes and treatments against anti-aging. The anti-aging treatments such as hair restoration, anti-pigmentation, adult acne therapy, breast augmentation, liposuction, and chemical peel are quite expensive in nature. These types of anti-aging treatments use different types of devices such as laser aesthetic devices, microdermabrasion devices, and radio frequency devices. The products used in the treatments are premium in nature. As a result, high cost of anti-aging treatments is hampering the growth of the global anti-aging market over the projection period.
Opportunities
Growing geriatric population
The geriatric population is growing at a rapid pace. This kind of people faces variety of skin problems. Those issues mostly include wrinkles. Therefore, doctors recommend them to use anti-aging creams and lotions. Therefore, there is huge demand for anti-aging products globally. Furthermore, due to technological advancements, the key market players are developing new techniques for the treatment of anti-aging among senior or old people. This factor is creating lucrative opportunities for the expansion of the global anti-aging market.
Challenges
Adverse side effects of anti-aging products
As customers want organic and natural skincare products, the popularity of chemical-based anti-aging and anti-wrinkle treatments is expected to decline. This is due to a number of incidents in which the negative consequences of these items have been revealed. These products may cause reactions ranging from moderate irritation to allergic contact dermatitis in people who are sensitive to them. The high-dose chemical content may raise the risk of skin allergies, limiting sales potential for anti-aging product manufacturers. Thus, adverse side effects of anti-aging products are a biggest challenge for the expansion of the anti-aging market.
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Market Segmentation
By Products
- Anti-wrinkle
- Hair color
- Ultraviolet absorption
- Anti-stretch mark
By Treatment
- Hair restoration
- Anti-pigmentation
- Adult acne therapy
- Breast augmentation
- Liposuction
- Chemical peel
By Demography
- Generation X
- Baby Boomers
- Generation Y
- Generation Z
By Devices
- Anti-cellulite treatment
- Laser aesthetic devices
- Microdermabrasion devices
- Radio frequency devices
- Others
By End User
- Hospitals
- Clinics
- Home healthcare
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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