ANTI AGING TREATMENT MARKET ANALYSIS

The global anti-aging treatment market is estimated to be valued at US$ 25.9 billion in 2023 and is expected to exhibit a CAGR of 7.3% during the forecast period (2023-2030).

Analysts’ views on the global anti-aging treatment market:

The number of people opting for surgeries is increasing rapidly. This is fueling growth of the global anti-aging treatment market. For instance, according to The Aesthetic Society, an organization of plastic surgeons, surgical procedures increased by 54% in the U.S. alone in 2021. As per a report published by The Aesthetic Society in April 2022, total of 1,857,339 surgeries were performed in 2021 worldwide, which is 42% more than that in 2020.

Figure 1. Global Anti-aging Treatment Market Share (%), By Product Type, 2023

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Global Anti-aging Treatment Market – Drivers

Increasing research and development activities for anti-aging treatments

Increasing research and development activities for anti-aging treatments are expected to drive the global anti-aging treatment market growth over the forecast period. For instance, according to an article published by the International Journal of Cosmetic Science on June 24, 2020, a study was conducted to check the anti-aging effect of chondroitin sulfate (CS) through skin regeneration. It was found that Chondroitin sulfate treatment increased the proliferation of keratinocytes and fibroblasts. It also stimulated the migration and synthesis of ECM components in fibroblasts. Further analysis revealed that CS induced the expression of type I procollagen by activating the extracellular signal-regulated kinase pathway. Using a full-thickness skin wound model and an aged skin model, it was confirmed that CS treatment promoted skin wound healing and regeneration.

Increasing launches of new products

The increasing launch of new products for reducing the aging is expected to drive the global anti-aging treatment market growth. For instance, on September 2, 2022, Nutriglow Cosmetics, an India-based cosmetics company, launched a new anti-aging skincare range that is suitable for all skin types and is vegan-friendly. NutriGlow is dermatologically tested anti-aging product with Vitamin C and Hyaluronic Acid to help consumers fight skin concerns such as dark spots, fine lines, hyperpigmentation, discoloration, and uneven skin tone. This age repairing product helps rebuild the skin’s collagen to diminish the appearance of aging.

Figure 2. Global Anti-aging Treatment Market Share (%), By Region, 2023

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Global Anti-aging Treatment Market - Regional Analysis

Among region, North America is estimated to hold a dominant position in the global anti-aging treatment market over the forecast period, owing to increasing product launches. For instance, on April 28, 2023, Neutrogena Corporation, a U.S. based cosmetics, skin care, and hair care company, announced the launch of its Rapid Wrinkle Repair range. Its formula contains stabilized retinol that slowly feeds skin with retinol in order to help minimize irritation, hence helping with dull skin, dark spots, wrinkles, or fine lines. It consists of Hyaluronic Acid, Glucose Complex, and Pure Retinol (Vitamin A).

Global Anti-aging Treatment Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, faced problems regarding the transportation of drugs from one place to another.

However, the COVID-19 pandemic had a negative impact on the global anti-aging treatment market due to reduced dermatology and venereology outpatient clinic visits. For instance, according to an article published by Dermatology Reports on November 17, 2021, at the beginning of the COVID-19 pandemic, there was a 61.2% decrease in patients visiting outpatient clinics compared to the same period in the previous year. There was also a decrease in the number of diagnostic and therapeutic procedures performed in the outpatient clinic.

Global Anti-aging Treatment Market Segmentation:

Global Anti-aging Treatment Market report is segmented into product type, technology, end user and region

Based on Product Type, the global anti-aging treatment market is segmented into UV absorbers, anti-wrinkle products, anti-stretch mark products, natural products, and others. Out of which, the UV absorbers segment is expected to dominate the market due to the increasing launch of newer products.

Based on Technology, the global anti-aging treatment market is segmented into botulinum toxin therapy, dermabrasion, microdermabrasion, chemical peels, fractional laser skin resurfacing, dermal fillers, and nonablative skin rejuvenation. Among these, the botulinum toxin therapy segment is expected to dominate the market over the forecast period due to the increasing popularity of botulinum toxin therapy.

Based on End user, the global anti-aging treatment market is segmented into hospitals, skin care clinics, homecare settings, and others. Among these, the hospital segment is expected to dominate the market over the forecast period due to the increasing number of hospitals.

Based on Region, the global anti-aging treatment market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, North America is expected to dominate the market over the forecast period due to the increasing launch of products in this region.

Among all segmentation, the UV absorbers in the product type segment has the highest potential due to increasing launches of products by the key market players. For instance, on June 21, 2023, Skinvest Care Pvt. Ltd., an India-based innovator in skincare solutions, introduced its latest line of sun protection products in India. Traditional Indian sunscreens often fail to cater to the diverse spectrum of Indian skin tones. Hence, for individuals with skin tones ranging from 1 to 4 on the Fitzpatrick scale, a sunscreen providing burn protection is crucial, while those at level 4 and above should focus on preventing tanning. Hence, this non-comedogenic sunscreen with no white residue, sweat- and water-resistant, enriched with antioxidants, and suitable for acne-prone skin is introduced. It harnesses clinically proven ingredients such as Zinc oxide, Tranexamic acid, Tomato fruit extract, Vitamin C, Centella asiatica, and Vitamin E. This sunscreen can shield against pollution, blue light, WiFi, and UV rays and also hydrate and soothe the skin, preventing and treating sun damage. Its reliability extends even to activities like swimming.

Global Anti-aging Treatment Market Cross Sectional Analysis:

Approval of newer products and technologies in anti-aging products by key market players in Europe region is expected to drive the technology segment growth in the region. For instance, on August 31, 2021, Merz Therapeutics, a privately held, family-owned company announced that its drug XEOMIN (incobotulinumtoxin A) received European approval for the treatment of chronic sialorrhea in children. It is the only botulinum neurotoxin approved for this indication in Europe.

Global Anti-aging Treatment Market: Key Developments

On July 22, 2022, Clinique Laboratories LLC., a U.S.-based manufacturer of skincare, cosmetics, toiletries and fragrances, announced the launch of new smart clinical repair wrinkle correcting cream. Repair Wrinkle Correcting Cream is engineered to fortify the dermal matrix and structure to visibly reduce lines and wrinkles, while replenishing skin with plumping hydration. The treatment has CL1870 Peptide Complex, a blend of peptides to spark collagen regeneration.

On June 1, 2020, Charlotte Tilbury Beauty, a U.K.-based luxury beauty, makeup and skincare brand announced, the launch of a light version of its magic cream that is moisturizer.  This moisturizer cream creates a smooth, dewy and plump complexion. A number of ingredients come together to deliver spellbinding results, starting with a bionymph peptide blend that conditions and smooth, while vitamins C and E help to brighten and even out tired, dull skin. Hence it gives effective anti-aging effects.

On November 22, 2022, Alterna, a U.S.-based global leader in clean and luxury hair care, announced the Canadian launch of its new Caviar Anti-Aging Restructuring Bond Repair collection. Specifically designed to restore, strengthen and protect damaged hair, this newly enhanced 3-product system is available at Alterna salons across Canada

On October 23, 2022, Sofwave TM, an Israel-based medical device company, announced launch of a new device, SUPERB for aesthetic medicine. It is approved by U.S. FDA for firming facial and neck skin and lifting eyebrows and chin. It gives synchronous ultrasound parallel beam based on ultrasound rays.

Global Anti-aging Treatment Market: Key Trends

Launch of newer tools

Launch of newer tools can drive the market growth. For instance, on October 10, 2022, LR Health & Beauty, a Germany-based supplier of innovative and high-quality cosmetics, natural beauty products, and nutrition worldwide, announced the launch of Zeitgard Pro Cosmetic Device.  It enables deep-pore facial cleansing and intense peeling; it acts as an anti-aging booster, and it firms up your body skin. It is intended to be used together with basic care products appropriate for a person’s age and skincare needs to ensure timelessly beautiful skin.

Launch of newer treatments

Market players are engaged in developing and launching new treatments for anti-ageing, this is expected to drive the market over forecast period. On June 11, 2020, Sciton Inc., a U.S.-based manufacturer of medical and aesthetic lasers and light source technologies, launched the mJoule platform in Canada which features the company's fractional treatment, MOXI, and BBL Hero treatment for skin resurfacing. BBL HERO allows practitioners to treat the entire body with four times the speed, three times the peak power, and two times the cooling capacity.

Global Anti-aging Treatment Market: Restraints

High cost of aesthetic procedures

The high cost of aesthetic procedures is expected to hamper the global anti-aging treatment market growth. For instance, according to an article published by Journal Aesthetic Plastic Surgery on April 19, 2021, the average treatment cost is over US$ 16,000 per patients following cosmetic complications. Such high cost can restrain growth of market.

To counterbalance this restraint, reimbursement policies should be introduced.

Side effects of anti-aging treatment

Side effects of anti-aging treatments are expected to hamper the global anti-aging treatment market’s growth. For instance, according to an article published in the Journal of Skin Pharmacology and Physiology on May 19, 2020, once the product is discontinued, the skin returns to its original appearance. Some products may also cause skin irritation, rashes, burning, or redness. Such side effects can restraint the market growth.

To counterbalance this restraint, personalized, safe, and effective products should be introduced according to a person’s skin type.

Global Anti-aging Treatment Market - Key Players

Major players operating in the global anti-aging treatment market include Allergan Plc, Estée Lauder Companies, Shiseido Company, Beiersdorf AG, L'Oréal S.A, NuFACE, Ostium Cosmetics, PhotoMedex, Inc, Alma Laser, and Rodan & Fields, LLC

*Definition: In the early stages of human life, the body is healthy and resilient and thus, more adept at restoring lost cells. As the body ages, its ability to heal and restore such cells decreases, leading to cell death, which in turn leads to aging. Moreover, early aging is caused by unhealthy lifestyls such as smoking and excessive consumption of packaged foods and alcohol. Signs of aging include the increasing appearance of dark spots on the skin, sagging skin, lines and wrinkles, dullness, and patchy skin. Anti-aging treatments such as botulinum toxin therapy, chemical peels, microdermabrasion, and usage of ant-wrinkle and anti-aging products aid in slowing the process of aging.