The global anti-aging product services and devices market is set to expand significantly over the next decade, with a projected valuation of USD 60,764.40 million in 2024. The market is expected to grow at a compound annual growth rate (CAGR) of 5.30%, reaching USD 1,01,843.40 million by 2034.
The market’s growth is driven by the increasing demand for safe and efficient anti-aging products, spurred by stringent regulatory standards that ensure product quality and safety. This trend has pushed manufacturers to focus on product efficacy and invest heavily in research and development to bring cutting-edge anti-aging solutions to market.
Because of the enormous outbreak of COVID-19, the Anti-Aging Products, Services, and Devices Market fell by 1.3% during FQ-21. Growth was also hampered by supply chain disruptions and a stop in industrial activity.
However, the growth prospects of the anti-aging products, services, and technologies industry are likely to remain strong as millennials and baby boomers prioritise keeping youthful and young. According to FMI, the North America market will generate around US$ 53,987.4 million in revenue by 2021.
Growing demand for anti-wrinkle treatment and anti-cellulite treatment across the U.S, India, UK and Germany have propelled the market growth.
Increasing demand for clinically-evidenced ingredients are boosting non-invasive anti-ageing cosmetic procedures.
As per the FMI’s analysis, the anti-ageing products, services and devices market across the U.S. and the UK is anticipated to expand at an impressive rate during the forecast period.
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 Anti-Ageing Products, Services and Devices Market 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
- 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
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.
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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