The Global Anti-Aging Products, Services, and Devices Industry is set to embark on a remarkable journey, foreseeing a substantial growth trajectory with an anticipated 5.5% Compound Annual Growth Rate (CAGR) from 2023 to 2033. According to a recent report by Future Market Insights (FMI), the industry’s revenue is poised to skyrocket from US$ 64.0 billion in 2023 to an impressive US$ 109.8 billion by 2033.
In 2022, the global market for anti-aging offerings stood at approximately US$ 59 billion, laying a robust foundation for the upcoming surge. The contemporary emphasis on maintaining a youthful appearance acts as a driving force behind the significant growth observed in the global cosmetics and skincare market. The versatile applications of anti-aging products, services, and devices have fueled demand across a broad consumer base, transcending various age groups. This surge is attributed to increased self-awareness regarding physical appearance and the pursuit of effective solutions.
As a natural physiological process, aging is further accelerated by external factors such as air pollution, exposure to harmful UV rays, and alcohol consumption, contributing to premature aging. Anti-aging creams and lotions have emerged as pivotal elements in skincare routines, playing a crucial role in preserving moisture and promoting a radiant, youthful complexion.
Notably, among the diverse categories of anti-aging products, sunscreens occupy a prominent position by effectively shielding the skin from harmful UV radiation, thereby delaying the onset of wrinkles and discoloration. Brands in the sun care market are addressing the escalating demand by offering paraben-free anti-aging skincare products, making significant contributions to the expansion of the sun care sector.
industry.
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Growing prevalence of skin disorders such as atopic dermatitis, melanoma and non-melanoma skin cancer will improve the adoption of anti-ageing treatment.
With rising awareness regarding skin care routine and growing urgency to have younger looking skin have amplified the sales of products rich with retinols, moisturizer and dermal fillers reducing wrinkle lines among women.
Another key factor responsible for growing revenues in the anti-ageing market is promotion and advertisements featuring celebrities to endorse the products and treatments.
As such, key players are adopting different strategies to boost their revenue generation, fueling the market growth.
Key Takeaways from FMI’s Global Anti-Ageing Products Services and Devices Industry Study
- In terms of application, anti-wrinkle treatment is anticipated to be the largest segment in terms of revenue
- Anti-cellulite treatment will witness robust growth owing to the increasing number of people undergoing this procedure across the U.S. and the UK
- The U.S. is anticipated to register high demand, leading the North America market over the forecast period
- The UK and France will witness steady growth owing to the increasing ageing population and rising prevalence of skin disorders in the region
- Driven by increasing demand of anti-ageing products among ageing population, Germany recorded notable growth, accounting for 15% of global market share
- India is anticipated to emerge as a lucrative market backed by the high demand of cellulite treatment and chemical peels in the country
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Global Anti-Ageing Products Services and Devices Industry by CategoryBy Application:
- Anti-Pigmentation Therapy
- Anti-Cellulite Treatment
- Anti-Wrinkle Treatment
- Acne Management
- Scar Treatment
- Others
By Product Type:
- Creams
- Moisturizers
- Retinols
- Dermal Fillers
- Botulinum Toxin
- Chemical Peels
- Cellulite Treatment
- Non-Surgical Fat Reduction
- Others
By Distribution Channel:
- Dermatology Clinics
- Hospitals, Pharmacies, Drugstores
- Rejuvenation Centers
- Others
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Competitive Landscape
Prominent players in the market are focusing on strategic mergers and collaboration to expand their global footprint in the market.
New product launches coupled with increasing research & development activities for the development of advanced anti-ageing products & devices will also be one of the key strategy to enhance their customer base for market players.
For instance, in December 2020, Devonian Health Group, a global clinical stage botanical pharmaceutical corporation, announced the launch of R-Spinasome anti-ageing technology global sales and marketing partnerships.
Also, in January 2021, Aptar Beauty, announced the development of its first airless roll-on capsule for LightinDerm Skincare Device.
Author:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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