Global Anti-Aging Market to Witness 7.7% CAGR … – Digital Journal – Digital Journal
According to a new market research report “Global Anti-Aging Market Size, Share, Development, Growth and Demand Forecast to 2025 – Industry Insight by Type of Product (Anti-Wrinkle, Hair Color, UV Absorbers, Anti-Stretch Marks, Others), Type of Device (Radiofrequency, Laser, Anti-Cellulite, Microdermabrasion), by Treatment (Hair Restoration, Anti-Pigmentation, Anti-Adult Acne, Liposuction, Breast Augmentation, Chemical Peel, Others), by Demography (Generation X, Baby Boomer, Generation Y)” published by P&S Market Research, the global anti aging market is expected to witness a CAGR of 7.7% during 2017 – 2025.
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Global anti-aging market to witness 7.7% CAGR during 2017 – 2025
According to the study, the global anti-aging market is expected to witness 7.7% CAGR during 2017 – 2025. Technological advancements, increase in volume of anti-aging procedures, growing aging population and increase in disposable income have been driving the global anti-aging market. The market is further expected to gain revenue due to increase in anti-aging awareness campaigns. For instance, EuroMediCom plans to organize the 15th Aesthetic & Anti-Aging Medicine World Congress from 6th April to 8th April, 2017, in Monaco. Furthermore, EuroMediCom is also going to organize the 4th AMWC Latin America- Aesthetic & Anti-Aging Medicine World Congress from 16th November to 18th November, 2017, in Colombia, South America. EuroMediCom promotes future medical sciences, particularly those related to aging and aesthetics.
Insights on market segments
As per the findings of research, anti-wrinkle products, which includes dermal fillers and botox, is expected to witness considerable growth during the forecast period, primarily due to high sales of botulinum toxin and increasing appearance consciousness and awareness among women about anti-wrinkle products. Anti-wrinkle products include anti-wrinkle milk, anti-wrinkle moisturizers, anti-wrinkle creams, anti-wrinkle gels and anti-wrinkle serums. Wrinkles are formed due to lack of collagen in the body which makes the skin elastic and firm. The two main types of wrinkles include surface lines and deep furrows. Anti-wrinkle creams, oils and gels reduce fine lines, but deep furrows usually require anti-aging treatments, such as plastic surgery and botox injections. Radiofrequency, laser, anti-cellulite, and microdermabrasion devices are used for the anti-aging treatment such as hair restoration, anti-pigmentation, anti-adult acne treatment, liposuction and breast augmentation.
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North America stands as the largest anti-aging market
Geographically, North America has been the largest anti-aging market, with the U.S. being the largest contributor to the regional market. Increasing volume of plastic surgeries and growing geriatric population in the region are the key growth drivers for the North American anti-aging market. As reported by the American Society for Aesthetic Plastic Surgery (ASAPS), American spent more than $13.5 billion on cosmetic procedures in 2015. It further reported that 1,912,468 surgical procedures and 10,879,909 non-surgical procedures were performed. It was also reported that liposuction was the most popular surgical procedure in 2015 with about 396,048 procedures performed.
Europe is also a key market for anti-aging products and it is anticipated to witness considerable growth during the forecast period. Increase in product approvals and aging population are driving the European market. According to International Society of Aesthetic Plastic Surgery (ISAPS), some of the popular surgical anti-aging surgical procedures in European countries in 2015 included breast augmentation, liposuction, eyelid surgery, and abdominoplasty.
Key players in the anti-aging market actively seeking acquisitions
The anti-aging market has witnessed number of mergers and acquisitions and strategic alliances recently. In January 2017, L’Oréal signed an agreement with Valeant Pharmaceuticals to acquire its the skincare brands including, CeraVe, AcneFree and Ambi for a consideration of $1.3 billion in cash. These products are expected to expand L’Oreal’s Active cosmetics division. In July 2016, Johnson & Johnson acquired Vogue International LLC, a privately-held company focusing on marketing hair care and other personal care products, for an amount of $3.3 billion in cash. The acquisition was expected to strengthen Johnson & Johnson’s consumer segment with hair care and personal care products.
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Some of the other key players in the market include The Proctor & Gamble Company, Beiersdorf AG, Allergan Plc., The Estee Lauder Companies Inc., Nu Skin Enterprises, Inc., Coty Inc., Cynosure, Inc., Lumenis Ltd., Syneron Medical Ltd., Photomedex Inc., Orlane, Personal Microderm and Alma Lasers Ltd.
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