Global Anti-aging Treatment Market, By Product Type (UV Absorbers, Anti-Wrinkle Products, Anti-Stretch Mark Products, Natural Products, and Others), By Technology (Botulinum Toxin Therapy, Dermabrasion, Microdermabrasion, Chemical Peels, Fractional Laser Skin Resurfacing, Dermal Fillers, and Nonablative Skin Rejuvenation), By End User (Hospitals, Skin Care Clinics, Homecare Settings, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), 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), as highlighted in a new report published by Coherent Market Insights.
Increasing launches of new and advanced anti-aging treatment products by market players is expected to boost the market growth over the forecast period. For instance, in January 2018, NuFACE announced the launch of NuBODY, a microcurrent beauty device designed for whole body. The device targets the larger and denser areas of the body such as arms, stomach, thighs, and others, and provides a smooth and even tone skin.
Global Anti-aging Treatment Market – Impact of Coronavirus (Covid-19) Pandemic
Market players are opting for digital platforms to ensure continuous sales amid coronavirus (COVID-19) pandemic. For instance, on April 16, 2020, L'Oréal S.A released it financial statement for first quarter of 2020 stating that 20% of sales is contributed by e-commerce. The company is further planning to maximize its e-commerce opportunities to ensure its revenue growth through digital platforms.
Furthermore, key players are focusing on the production of hand sanitizers in order to compensate for the revenue loss due to COVID-19 pandemic. For instance, on April 15, 2020, Shiseido Company announced that it will be starting the production of hand sanitizers specially designed for people who have sensitive skin.
Browse 27 Market Data Tables and 26 Figures spread through 201 Pages and in-depth TOC on “Anti-aging Treatment Market”- Global Forecast to 2027, By Product Type (UV Absorbers, Anti-Wrinkle Products, Anti-Stretch Mark Products, Natural Products, and Others), By Technology (Botulinum Toxin Therapy, Dermabrasion, Microdermabrasion, Chemical Peels, Fractional Laser Skin Resurfacing, Dermal Fillers, and Nonablative Skin Rejuvenation), By End User (Hospitals, Skin Care Clinics, Homecare Settings, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
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Market players are focusing on various inorganic growth strategies such as acquisitions and partnerships in order to expand their product portfolio. For instance, in May 2020, AbbVie Inc. completed the acquisition of Allergan plc. Through this acquisition, AbbVie Inc. enhanced its product portfolio in aesthetics business, with leading brands including Botox and Juvederm.
Furthermore, market players are focusing on strengthening their geographical footprint and market presence by launching its skincare products in the global market. For instance, in September 2019, Rodan & Fields, LLC announced that it will be launching new product formulations in Japan in 2020. The launch is a strategic move of Rodan & Fields, LLC for global expansion.
Key Takeaways of the Global Anti-aging Treatment Market:
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