ANTI AGEING PRODUCTS SERVICES AND DEVICES MARKET ANALYSIS

The Global Anti Ageing Products Services And Devices Market is projected to reach around US$ 429.1 Bn by the end of 2030, in terms of revenue, growing at CAGR of 7.7% during the forecast period (2023-2030).

Global Anti Ageing Products Services And Devices Market: Growth Drivers

Increasing ageing population:

• The growing ageing population is a prime factor fueling the market growth of anti-ageing products, services, and devices. The ageing population is getting more aware of anti-ageing products. According to the World Health Organization, 2050, by 2050, 80% of all older people will live in low- and middle-income countries. Thus, the rise in the ageing population is propelling the market growth of anti-ageing products services, and devices.
• The increasing launch of safe and efficient anti-ageing products and services due to strict rules and regulations is augmenting the market growth. This has compelled manufacturers to focus on the efficacy and quality of the products. This is boosting the investment in research and development programs and the emergence of advanced products.
• Most aesthetic and cosmetic practices were viewed as elective and had been postponed in order to free up hospital assets for the treatment of COVID-19 patients, and to reduce the risk of SARS-CoV2 viral infection among patients receiving anti-ageing treatment, so the COVID-19 pandemic is anticipated to have a slight impact on the global anti-ageing products, services, and devices market.

Global Anti Ageing Products Services And Devices Market: Restraints

• Growing demand for minimally invasive cosmetic procedure: The growing demand for invasive surgeries is restricting the adoption of corrective cosmetic surgeries. Invasive cosmetic procedures offer fast recovery and also have fewer post-surgery side effects. This is expected to hinder the market growth of anti-ageing products, services, and devices. Strict rules & regulations associated with the anti-Ageing device are expected to hamper the demand for these products. This factor is expected to restrict the market growth of anti-ageing products, services, and devices

Market Opportunity:

• Rapidly increasing consumer preference towards natural products:

Increasing consumer preference towards natural products such as herbal alternatives has led to the growth of the anti-ageing products market. Currently, consumers prefer organic and natural products, so manufacturers of anti-ageing products mainly focus on advertising, manufacturing, and labeling anti-ageing products. In this regard, several brands offer anti-ageing products made with chemical-free ingredients. For example, skin care product maker Alpyn Beauty offers its chemical-free Plant Genuis melt moisturizer with bakuchiol. It protects against underlying damage and wrinkles and brightens the skin.

Moreover, increasing technological advancements and modernization of manufacturing techniques will create many new opportunities for the anti-ageing products market during the forecast period. 

Market Trends

The growing popularity of liposuction procedures due to the influence of social media is estimated to stimulate the market growth of anti-ageing products, services, and devices. Moreover, the growing focus of people on enhancing their physical appearance along with the increasing disposable income of consumers is again expected to supplement the market growth of anti-ageing products, services, and devices. The growing penetration of new brands in the beauty care market is further projected to accelerate market growth.

Increasing consumption of anti-stretch mark products is one of the trends in the market. This is attributed to the increasing obesity coupled with the continuous launch of innovative anti-stretch mark products. Increasing research and development by key manufacturers to develop more advanced anti-ageing products in order to meet the growing demand is again expected to propel the market growth of anti-ageing products, services, and devices over the forecast period. For instance, in November 2020, Sof Wave Medical, a leading player, secured CE Mark for its next-generation Sofwave anti-ageing system, approved for use in the treatment of fine lines and wrinkles in the European Union

Market takeaway

The Global Anti ageing Products Services And Devices Market is expected to experience significant growth in the coming years. Here are the key takeaways from the market. Technological Developments, and new market entrants in the anti-ageing products, services, and devices industry are utilizing technological advancements to create unique products and gain a competitive edge. These companies invest in research and development (R&D) to keep up with changing customer preferences and market demands. High Acceptance: Anti-ageing products have high acceptance in the market and are more affordable and readily available compared to services and devices. Application Focus: One of the key applications in the market is anti-wrinkle treatment. Overall, the global Anti-ageing Products Services, and Devices Market is expected to witness steady growth driven by technological advancements, increasing consumer demand, and a focus on anti-ageing treatments.

Global Anti Ageing Products Services And Devices Market: Recent Developments

• In May 2021, Lumenis, a major energy-based medical device manufacturer for cosmetic, surgical, and visual applications, confirmed that it has won the MedTech Breakthrough Awards for 'Best Overall Medical Device Company’.
• In March 2021, Lumenis Ltd, an energy-based medical device manufacturer with applications in aesthetics, surgery, and ophthalmology, confirmed a formal partnership with AdventHealth Nicholson Center (Orlando, FL), a medical research and training center to establish a dedicated Center of Excellence as a medical training program.
• In September 2021, At Vision Expo West in Las Vegas, Nevada, Lumenis, an energy-based medical device manufacturer with applications in aesthetics, surgery, and ophthalmology launched the OptiLight intense pulsed light (IPL) product. The Food and Drug Administration has granted the firm permission to market OptiLight, a device that uses IPL to treat dry eye conditions.

 Figure 1. Global Anti Ageing Products Services And Devices Market Share (%) in terms of Value, By Region, in 2022

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North America region held a dominant position in the global Anti ageing Products Services And Devices market in 2020, accounting for a 34% share in terms of volume, followed by Asia Pacific and Europe, respectively.  

Figure 2, Global Anti Ageing Products Services And Devices Market Share (%) in terms of Value, By Demographics, in 2022

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Global Anti Ageing Products Services And Devices Market: By Demographics

On the basis of Demographics in 2022, the Generation X segment has accounted for the largest market share of 70% in terms of value.

Global Anti Ageing Products Services And Devices Market: Key Companies

Key Companies are Allergan, Inc., Alma Laser, Coty Inc., Beiersdorf AG, Cynosure, L’Oréal SA, Lumenis, Photomedex, Personal Microderm (PMD), and Solta Medical, Inc.

*Definition: Anti-Ageing products, services, and devices are products used to reduce masking and prevent the sign of skin ageing. These products are used in acne treatment, skin resurfacing, and anti-pigmentation. These products help to treat the ageing of the skin and also other skin-related problems such as acne and wrinkles.