The latest market report published by Credence Research, Inc. “Global Anti-aging Services Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global market for anti-aging services was valued at US$ 22,518.8 million in 2017 and is expected to reach US$ 35,597.9 million by 2026, increasing to CAGR by 5.3 per cent from 2018 to 2026.
Aging is induced by intrinsic and extrinsic factors, which affects tremendously to skin as it is the most voluminous organ of the human body. Intrinsic aging is characterized by dry skin, dermal atrophy and fine wrinkles. Extrinsic aging is determined by factors such as smoking, air polluition, poor nutrition etc. Anti-aging products perform scavenging of the free radical species which promotes aging and provides toning and smooth texture to skin surface.
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Liposuction procedures are leading the type segment for anti-aging services market. The major factors responsible for its increasing demand are rising prevalence of obesity due to unhealthy lifestyle and craving for junk food. Technological advancement in the surgical procedures pertaining to liposuction of abdominal fat further propel the liposuction procedure market growth. Botox are gaining positive traction on account of its positive clinical trial studies pertaining to dose tolerance in patients with glabellar lines.
Generation X is dominating the demographic segment for anti-aging services market. Currently they are being exposed to stressful working condition which stimulates ageing process via oxidative stress. Active participation on social media has led to increased brand awareness among generation X. In the near future generation Y will be exhibiting impressive growth owing to growing consciousness for external appearance and flexibility to adapt to latest fashion trends which promotes anti-aging services market growth.
North America currently holds 33% market share and is the supreme leader in the regional segment for anti-aging services market. Increasing baby boomer population and increasing demand for attractive external appearance drive the market growth in North America region. Presence of key players such as Procter & Gamble, Allergan, Inc., Lumenis, Ltd., etc. further consolidate the market growth in North America. The second largest regional market is Europe representing 30% market share primarily due to increasing generation X population and large disposable income to purchase anti-aging products. Asia Pacific is responsible for 20% market share on account of rising number of generation Y population and rise in per capita income.
Pharmaceutical companies providing anti-aging services market are Allergan, Inc., Elizabeth Arden, Procter & Gamble, L’Oreal SA, Cynosure SA, Age Sciences, Inc., Estee Lauder, Inc., Solta Medical, Inc., Beiersdorf AG and Lumenis, Ltd.
Key Market Movements:
- Increasing population of generation X and baby boomers experiencing rapid aging process
- Significant adoption of latest fashion trend and increasing demand for luxury anti-aging cosmetic products among population Y
- Technological advancement in the latest anti-aging products such as liposuction procedure, botox, microdermabrasion etc. bolster the market growth
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Report Scope by Segments
- Breast Augmentation
- Chemical Peel
- Dermal Fillers
By Demographics Type
- Baby Boomers
- Generation X
- Generation Y
By Geography Segment
- North America (U.S., Rest of North America)
- Europe (U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, Japan, India, Rest of Asia Pacific)
- Rest of the World (Middle East & Africa, Latin America)