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Press Release: Anti-aging Treatment Market to Surpass US$ 34.49 Billion by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
At early stages of human life, the body is healthy and resilient and thus, is more adept at restoring lost cells. As the body ages, its ability to heal and restore such cells decreases, leading to cell death, in turn leading to aging. Moreover, early aging is caused by unhealthy lifestyle such as smoking and excessive consumption of packaged foods and alcohol. Signs of aging include increasing appearance of dark spots on the skin, sagging skin, lines & wrinkles, dullness, and patchy skin. Anti-aging treatment such as botulinum toxin therapy, chemical peels, microdermabrasion and usage of ant—wrinkle and anti-aging products aid in slowing the process of aging.
The global anti- aging treatment market is estimated to be valued at US$ 21.06 billion in 2020 and is expected to exhibit a CAGR of 7.3% over the forecast period (2020-2027).
Figure 1. Global Anti-aging Treatment Market Share (%) in Terms of Value, By Region, 2019
Increasing adoption of aesthetic procedures as an anti-aging treatment is expected to propel the market growth over the forecast period
The increasing number of people opting for aesthetic procedures such as microdermabrasion, chemical peel, and others for anti- aging treatment is expected to propel growth of the anti-aging treatment market over the forecast period. According to the International Society of Aesthetic Plastic Surgery around 2,051,984 facial rejuvenation procedures were performed worldwide in 2017, which included around 357,753 chemical peel and 268,423 microdermabrasion procedures.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 19.63 Bn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 7.3% | 2027 Value Projection: | US$ 34.49 Bn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Allergan Plc, Estée Lauder Companies, Shiseido Company, Beiersdorf AG, L'Oréal S.A, NuFACE, Ostium Cosmetics, PhotoMedex, Inc, Alma Laser, and Rodan & Fields, LLC |
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Figure 2. Global Anti-aging Treatment Market Share (%), by Product Type, 2020
Increasing launch of new and advanced anti-aging products is expected to drive the market growth over the forecast period
Market players are focusing on enhancing their product portfolio by launching new and advanced anti-aging treatment devices, which is expected to drive the market growth over the forecast period. For instance, in January 2019, NuFACE, a provider of the microcurrent treatments in homecare settings, launched FIX line smoothing Serum and the FIX Line Smoothing Device. The device coupled with serum, targets the fine lines and wrinkles around the lips, eyes, and forehead.
Global Anti-Aging Treatment Market – Impact of Coronavirus (Covid-19) Pandemic
The American Society of Plastic Surgeons has recommended to postpone all the elective or non-essential services due to which the number of aesthetic procedures such as chemical peel, botulinum toxin therapy, dermabrasion, and others have decreased hindering the anti-aging treatment market growth. According to the article published in the Aesthetic Journal on April 03, 2020, around 81% of clinics are closed and 67% are experiencing reduction in revenue due to the COVID-19 lockdown in London.
Furthermore, several skincare and cosmetic companies are observing a decline in sales due to the COVID-19 pandemic. For instance, on May 12, 2020, Shiseido Company, a Japanese multinational personal care company, released its financial statement for the first quarter of 2020 reporting a 14.6% and 19.2% year-on-year net sales decline in the American and Asia Pacific business, respectively.
Anti-aging Treatment Market Restraint
High cost of aesthetic procedures is expected to hinder the market growth over the forecast period. According to the American Society of Plastic Surgeons, the average cost of botox treatment is US$ 397 in the U.S. while a single session of microdermabrasion costs around US$ 131 and the cost of chemical peel is around US$ 669.
Key Players
Major players operating in the global anti-aging treatment market include Allergan Plc, Estée Lauder Companies, Shiseido Company, Beiersdorf AG, L'Oréal S.A, NuFACE, Ostium Cosmetics, PhotoMedex, Inc, Alma Laser, Rodan & Fields, LLC, and others.
Increasing awareness among consumers regarding personal aesthetics to look young is driving growth of the anti-aging treatment market. Many anti-aging products such as anti-wrinkle and skin rejuvenation lotion and masks are being used extensively to obtain younger looking skin. People are also opting for many cosmetic procedures such as botulinum toxin therapy, microdermabrasion, chemical peels, dermal fillers, and others as an anti-aging treatment option. According to the American Society of Plastic Surgeons (ASPS), over US$ 16.5 billion was spent by the Americans on minimally invasive procedures and cosmetic plastic surgeries in 2018. According to the same source, the cost of botox injection in 2018 increased by 3% from 2017. Such high demand for aesthetic procedures and cosmetic products is expected to drive the anti-aging treatment market growth over the forecast period.
Market Dynamics
Market players are focusing on adopting various inorganic growth strategies such as agreements and partnerships, in order to strengthen their market presence, which is expected to drive growth of the global anti-aging treatment market over the forecast period. For instance, in March 2019, NuFACE, a provider of at-home version of the micro current treatments, entered into a partnership with Bandier, a multi-brand, active wear retailer of fashion and fitness products. Through this partnership, Bandier will be responsible for the sales of Fitness for Your Face products, a NuFACE’s line of skin care products, which include NuBODY Skin Toning Device, Trinity Facial Toning Device, and FIX Line Smoothing Device, in the U.S.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
*Browse 27 market data tables and 26 figures on "Anti-aging Treatment Market” - Global forecast to 2027
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