According to the report, global demand for anti-aging market was valued at USD 140.3 billion in 2015, is expected to reach USD 216.52 billion in 2021 and is anticipated to grow at a CAGR of 7.5% between 2016 and 2021.
Aging is achieved by a cycle of different biochemical procedures in the body that influence it, both internally and externally. These biochemical procedures cause the body to degenerate over a timeframe, affecting the wellbeing, wellness and physical appearance of an aging person. Anti-aging is the delay, stop or retard the aging process. Recently, there has been the significant increase in the anti-aging phenomenon.
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Increasing aging population worldwide is major driving factors for the anti-aging market. Strict regulations have led to the introduction of safe and efficient anti-aging products and services in the market expected to drive the anti-aging market in the near future. Furthermore, increasing consumer demand for anti-aging products and technical advancement in anti-aging services are the factors that drive the growth of the anti-aging market. However, consumers are still doubtful about some of the anti-aging services and products this factor can hamper the market growth in future.
In terms of segmentation, the anti-aging market has been segmented on the basis of age demographic, products, services and devices. Factors like a continuous technological improvement, rising awareness among people about anti-aging and growing adoption will tend to grow product segment with highest CAGR in the forecast period. The baby boomer segment is expected to acquire the largest market share of global market in years to come.
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On the basis of services anti-aging market is divided into anti-pigmentation therapy, anti-adult acne therapy, breast augmentation, liposuction, chemical peel, hair restoration treatment, others. Geographically, the market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, further bifurcation of the region on the country level, which includes U.S., Germany, UK, France, China, Japan and India. Demand has been analyzed and forecast based on the current trends for the period of six years. North America was a leading region of the anti-aging market followed by Europe. Asia-Pacific region is expected to witness the highest growth among all regions.
The key participants in the anti-aging market are Personal Microderm, Alma Lasers Ltd, L’Oreal, Allergan Inc, Cynosure Inc., Solta Medical Inc, Beiersdorf AG and among others.
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