Anti-aging products, services, and devices are products used to reduce the masking and prevent the sign of skin aging. These products are used in acne treatment, skin resurfacing, and anti-pigmentation. These products help to treat the aging of the skin and also other skin related problems such as acne and wrinkles.
Global anti-aging products, services and devices market was valued at US$ 223880.8 Million in 2021, in terms of revenue, exhibiting a CAGR of 7.67 % during the forecast period (2022 to 2030).
Drivers
The growing aging population is a prime factor fueling the market growth of the anti-aging products, services, and devices. The aging population is getting more aware of anti-aging products. According to the World Health Organization, by 2050, by 2050, 80% of all older people will live in low- and middle-income countries. Thus, the rise in the aging population is propelling the market growth of the anti-aging products services, and devices.
The increasing launch of safe and efficient anti-aging products and services due to strict rules and regulations is augmenting the market growth. This has compelled manufacturers to focus on the efficacy and quality of the products. This is boosting the investment in the research and development programs and the emergence of advanced products.
Most aesthetic and cosmetic practices were viewed elective and had been postponed in order to free up hospital assets for the treatment of COVID-19 patients, and to reduce the risk of SARS-CoV2 viral infection among patients receiving anti-aging treatment, so the COVID-19 pandemic is anticipated to have a slight impact on the global anti-aging products, services, and devices market.
Figure 1. Global Anti-Aging Products, Services and Devices Market Value Share (%), By Region, 2021
Market Restraints
The growing demand for invasive surgeries is restricting the adoption of corrective cosmetic surgeries. Invasive cosmetic procedures offer fast recovery and also have fewer post-surgery side-effects. This is expected to hinder the market growth of anti-aging products, services, and devices.
Strict rules & regulations associated with the anti-aging device are expected to hamper the demand for these products. This factor is expected to restrict the market growth of anti-aging products, services, and devices
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2021: | US$ 223880.8 Mn |
| Historical Data for: | 2017-2020 | Estimated Year: | 2022 |
| Forecast Period 2022 to 2030 CAGR: | 7.67% | Forecast Period: | 2022-2030 |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Allergan, Inc., Alma Laser, Coty Inc., Beiersdorf AG, Cynosure, L’Oréal SA, Lumenis, Photomedex, Personal Microderm (PMD), and Solta Medical, Inc. |
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| Restraints & Challenges: |
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Market Trends
The growing popularity of liposuction procedures due to the influence of social media is estimated to stimulate the market growth of anti-aging products, services, and devices. Moreover, the growing focus of the people on enhancing the physical appearance along with the increasing disposable income of the consumers is again expected to supplement the market growth of the anti-aging products, services, and devices. The growing penetration of new brands in the beauty care market is further projected to accelerate the market growth.
Increasing consumption of anti-stretch mark products is one of the trends in the market. This is attributed to the increasing obesity coupled with the continuous launch in the innovative anti-stretch mark products. Increasing research and development by key manufacturers to develop more advanced anti-aging products in order to meet the growing demand is again expected to propel the market growth of the anti-aging products, services, and devices over the forecast period. For instance, in November 2020, Sof Wave Medical, leading player, secured CE Mark for its next-generation Sofwave anti-ageing system, approved for use for the treatment of fine lines and wrinkles in the European Union
Figure 2. Global Anti-Aging Products, Services and Devices Market Value Share (%), By Demographics, 2021
Recent Developments
Competitive Section
Major players operating in the Global Anti-Aging Products, Services and Devices Market include, Allergan, Inc., Alma Laser, Coty Inc., Beiersdorf AG, Cynosure, L’Oréal SA, Lumenis, Photomedex, Personal Microderm (PMD), and Solta Medical, Inc.
Anti-aging products and devices are products and/or services that are used to slow or reverse the normal aging process, for one reason or another. Anti-aging products and devices are very popular with both men (who want to look younger) and women (who want to feel younger). Anti-aging products and devices come in different forms-they can be creams, pills, powders, lotions, facial scrubs, cosmetics, hair dyes, hair transplants and surgery. Most people choose one of the many available Anti-aging products and devices when they are looking to make themselves look or feel better.
Market Dynamics
Increasing aging population and technological advancement in the field of anti-aging products and services is propelling growth of the anti-aging products, services and devices market. For instance, in June 2020, Avon, an American-British multinational cosmetics, skin care, fragrance and personal care companyhas unveiled its Anew Skin Reset Plumping Shots which helps to restore your skin to more youthful levels for a strengthened skin matrix which claims to reboost the skin in a week.
Increasing spending on anti-aging surgical cosmetic procedures by consumers are projected to offer immense opportunities in the market over the forecast period. According to American Society of Plastic Surgeons (ASPS) in 2020, Americans spent more than US$16.5 billion on cosmetic plastic surgery and minimally invasive procedures in 2020, a four percent increase from 2019. Thus, increasing spending on cosmetic procedures by consumers is projected to favor the market growth in the near future.
Technological advancement in the anti-aging devices is projected to bring new market opportunities in the near future. For instance, in January 2020, Foreo, a Swedish beauty-tech brand launched a new ‘Bear’ anti-aging device with Lotte and Hyundai. Bear and Bear Mini is a combination of microcurrent and T-sonic pulsations, it firms the skin for a more youthful and contoured complexion. The microcurrent tones the skin, while T-sonic pulsations relax the facial muscle tension points and smooth the appearance of fine lines and wrinkles.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective
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