Aug, 2018:The global anti-aging products and services market is anticipated to develop at a CAGR of 4.23% from 2019 to 2024. The market is studied for its services, such as anti-pigmentation therapy, adult acne therapy, breast augmentation, liposuction services, chemical peel, hair restoration and others including (eye lid surgery, abdominoplasty, sclerotherapy etc.). Based on device, the market is revised for anti-cellulite treatment, laser aesthetic devices, microdermabrasion devices, radio frequency devices and others. Similarly, the product fragment incorporates Botox and dermal fillers, anti-wrinkle products, anti-stretch products and others. Though, the hospitals, clinics and home healthcare are thought to be the key end users of the worldwide anti-aging products and services market. The key demographics examined in the report are baby boomers, generation X and generation Y. Finally, the market is studied across the countries for North America, Europe, Asia-Pacific and Rest of the World.
Major drivers and restraints of the market
The growth of the market is majorly driven by the popularity of digital photography, rising demand by consumers to boost self-esteem, introduction of self-monitoring apps, and increasing affordability of cosmetic surgeries in developing countries. The market is expected to flourish with sales d riven by the growing aging population. In addition, younger consumers are also increasingly looking to incorporate anti-ageing products into their skin care routines for early prevention which further drives the market growth. However, high assembling and advertising costs, more secured products and fast developments in anti-aging products and services market, simple accessibility of fake items, and high rivalry among merchants for various products are a few basic difficulties, which are thwarting the market development.
Hair restoration accounts for the largest market share
Among the administrations, the market for hair restoring is most noteworthy. This fragment is foreseen to develop at a lucrative rate inferable from the basic augmentation in the hair transplantation systems around the globe. The west European nations like Germany, France, and UK are holding significant piece of the pie while UK is accepted to be the quickest developing business sector for hair transplant in European area.
Radiofrequency devices is projected to be the highest based on various devices
The various devices of the market are anti-cellulite treatment, laser aesthetic devices, microdermabrasion devices, radio frequency devices and others. The radiofrequency gadgets held the biggest offer of the anti-aging market in 2017, because of a few points of interest offered by these items, for example, skin tightening, aesthetic enhancement, cellulite, and body forming and is relied upon to rule the market by 2024. These factors are depended upon to quicken the market advancement over the forecast period.
High utilization of anti-aging products amongst the generation X
The market by end users is considered for baby boomers, generation x and generation Y. The utilization of anti-aging products and services is high among the generation X inferable from the rising ubiquity among them.
High awareness with respect to aging, ascend in obesity and sedentary lifestyle are fuelling the growth of anti-aging products in North America.
North America is evaluated to represent the biggest market share in 2017, trailed by Europe and Asia-Pacific. Developing awareness with respect to maturing, ascend in weight and sedentary way of life are fueling the development of hostile to maturing items in North America. The age group of 30-44 are the biggest purchasers of the anti-aging products and services in this area, consequently driving the interest for proficient skincare arrangements. Moreover, the Asia-Pacific locale is relied upon to develop at a lucrative development rate amid the figure time frame. China, Singapore, South Korea, Japan, and India are seen to be the most alluring goals for corrective medical procedures.
The major companies involved in this market are Allergan plc, Alma Laser, Avon Products Inc, Beiersdorf AG, Coty Inc., Cynosure Inc, Estee Lauder Companies Inc., Johnson & Johnson, Kao Corporation, L’Oréal S.A., Lumenis Ltd, PhotoMedex, Inc., Procter & Gamble Co, Shiseido Company and Valeant Pharmaceuticals International, Inc. among others.
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