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Anti Aging Market Outlook Size Share Overview Analysis 2022-2029

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Anti Aging Market Outlook Size Share Overview Analysis 2022-2029

February 22
22:25 2023
Anti Aging Market Outlook Size Share Overview Analysis 2022-2029
DataM Intelligence
Anti Aging Market is expected to grow at a CAGR of 7.70% during the forecasting period (2022-2029).

Anti Aging Market Dynamics:

The rise in the consumer demand for anti-aging solutions, with the increase in lifestyle standards and income among the population across the world, is the major factor driving the growth of the market.

The increasing aging population is one of the major factors driving the global anti-aging market.

The population aged 65 and over is growing faster than all other age groups across the globe. According to data from World Population Prospects: the 2019 Revision, by 2050, one in six people in the world will be over age 65 (16%), up from one in 11 in 2019 (9%). By 2050, one in four persons living in Europe and Northern America could be aged 65 or over. In addition, the number of persons aged 80 years or over is projected to triple, from 143 million in 2019 to 426 million in 2050.


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In addition, the rising adoption of technologically advanced anti-aging devices and procedures enhances skin elasticity and tightness, hence boosting the growth of the anti-aging market globally. Furthermore, the technologically advanced devices efficiently treat wrinkles, dark spots, fine lines, and cellulite to enhance skin appearance. Hence, due to these advantages, the adoption rate of advanced technological anti-aging devices is rising in hospitals, clinics, and at-home to treat wrinkles and stretch marks.

For instance, in April 2018, Alma Lasers GMBH launched Accentuate, a hands-free body contouring solution, in the Aesthetic and Anti-Aging Medicine World Congress (AMWC) in France. Accentuate can be used in different treatment areas (such as abdomen, buttocks, thighs, etc.) on the body with separate treatment protocols.

The rise in the consumer demand for anti-aging solutions, with the increase in lifestyle standards and income is driving the market growth

The increase in the customer demand for anti-aging products, with the rise in lifestyle standards and income amongst the population worldwide, is the primary factor driving the growth of the studied market. As per the United Nations World Population Prospects 2019 report, the total population within the range of 40-59 years of age was about 17,83,309 in 2019, and it is prophesied to reach 20,46,991 by 2030. Therefore, this age group population is expected to adopt aging preventive solutions. Similarly, as per the International Society of Plastic Surgery (ISPAS) report 2019, a total of 1,582,296 individuals aged 51-64 years experienced botulinum toxin procedures globally in 2019.

Additionally, the improvements in technology and growing investment in the research and development activities by major players to innovate highly safe and efficient skincare solutions are anticipated to propel the anti-aging market globally.

Stringent regulation and high cost of the devices and treatments is likely to hamper market growth

However, stringent regulation and the high cost of the devices and treatments are major factors hindering the growth of the anti-aging market. For instance, new European Union (EU) legislation proposed in using chemicals has called for restrictions on some active cosmetic ingredients, a move that is projected to be anti-innovative for the industry.

Also, the increasing preference for natural and organic products to overcome the aging problems might hamper the growth of the global anti-aging market. For instance, home remedies such as honey, fullers earth, and egg or yogurt pack is used for slowing down wrinkles on the face.


COVID-19 Impact Analysis:

COVID-19 has highly influenced the anti-aging market segment analysis. As per the research article published in Aesthetic Plastic Surgery 2020, there were 17.7 million cosmetic procedures, a 2% rise from 2017, highlighting the increasing trend in cosmetic procedures. However, the number of cosmetic procedures in 2020 was minimal to none during the COVID-19 pandemic in the United States (mid-March to mid-June). Furthermore, according to the research by Amorepacific Research Institute and Technology, using a face mask, which is most important during the current pandemic, led to adverse effects on skin and suggested that the skin covered with face masks should be treated extra carefully due to specific changes in skin characteristics. However, most of the elective surgeries are deferred to secure the healthcare infrastructure for COVID-19 patients. Thus, the current pandemic is expected to have a direct and indirect impact on the anti-aging market.


Anti Aging Market Segment Analysis:

Breast augmentation segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

Breast augmentation accounted for the largest market share due to the rising prevalence of breast cancer-driving surgical cosmetic procedures. For instance, according to WHO, in 2018, an estimated 266,120 new cases of invasive breast cancer are expected to be diagnosed in women in the U.S., along with 63,960 new cases of non-invasive breast cancer. According to the American Society of Plastic Surgeons (ASPS) annual plastic surgery statistics report, in 2018, more than 17.7 million surgical and minimally-invasive cosmetic procedures were performed in the United States in 2018, a number that has risen steadily over the past five years. Of the more than 1.8 million cosmetic surgical procedures performed in 2018, the top procedures were breast augmentation (313,735 procedures, up 4% from 2017), Liposuction (258,558 procedures, up 5% from 2017), Nose reshaping (213,780 procedures, down 2% from 2017), Eyelid surgery (206,529 procedures, down 1% from 2017), among others.


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Anti Aging Market Geographical Analysis:

North America region holds the largest market share in the global anti-aging market

North America is dominating the market owing to the growing aging population. In 2017 the number of Americans ages 65 and older was around 46 million, and it is expected to be 98 million by 2060. The 65-and-older age group’s share of the total population is expected to rise by 24% in 2060 from 15% in 2017. The aging population is projected to grow faster in Central America, with over 50% of the population aged 60 years or above.

The aging population in other regions will grow over the upcoming years at 56% in Asia, 52% in Africa, 35% in Oceania, 29% in North America, and 14% in Europe. Thus, by 2020, older persons are anticipated to account for more than 20% of Europe and North America, 15% in Oceania, 12% in Asia and Central America, and 4% in Africa.

In addition, the market is growing in this region due to the introduction of new anti-aging products. For instance, in October 2018, Lumenis Ltd., the world’s largest energy-based medical device company for aesthetic, surgical, and ophthalmic applications introduced, SPLENDOR X, the first solid-state laser system equipped with the unique BLEND X technology for fast and effective hair removal and skin solutions in the U.S.

In July 2018, Hologic’s Cynosure division in North America introduced TempSure Vitalia for birth control, pregnancy, hormones, and aging. TempSure Vitalia delivers therapeutic heat to the internal and external vaginal tissue to improve local circulation. TempSure Vitalia received the FDA clearance and Health Canada approval.


Anti Aging Market Competitive Landscape:

The anti-aging market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Lonza Group AG, L’Oréal China, Beiersdorf, Estee Lauder, Procter & Gamble, Shiseido, Unilever, KANS, WEI Beauty, Xi’an Tian Guangyuan Biotech Co., Ltd. among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the anti-aging market globally.

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