The Global Anti Ageing Products Services and Devices market is expected to surpass US$ 429.1 Bn by 2030, exhibiting a CAGR of 7.7% during the forecast period (2023-2030).
Anti-Ageing products, services, and devices are anti-ageing skincare solutions used to prevent the ageing of the skin. These solutions help in improving skin appearance and treating various skin-related problems. They are classified into hair color, ultraviolet absorption, anti-wrinkle, and anti-stretch mark. Anti-cellulite treatment devices, radio-frequency devices, and microdermabrasion devices are some of the anti-ageing skincare devices.
Global Anti Ageing Products Services and Devices market is estimated to account for around US$ 237.1 Bn in terms of value in the year 2022 and it is predicted to grow at a CAGR of 7.7% during the forecast period (2023-2030)
Key Trends and Analysis of the Global Anti-Ageing Products, Services and Devices Market:
Changing fashion trends coupled with the increased adoption of preventive Botox procedures by millennial customers is fostering the market growth of anti-ageing products, services, and devices. The advent of new anti-ageing services due to improving the standard of living and changing the lifestyle of consumers is again expected to foster market growth. Moreover, the growing demand for premium luxury products is again accelerating the market growth of anti-ageing products, services, and devices over the forecast period. For instance, In December 2020, Bare Minerals announced a new product line of its anti-ageing collection for dry winter skin with a plant-based alternative to retinol.
Increasing strategic partnerships and agreements among key manufacturers for business expansion on a regional as well as a global basis is one of the growing trends in the market. For instance, Devonian Health Group Inc., a solution provider of botanical pharmaceutical and cosmeceutical products, announced that it has signed an exclusive sales and marketing agreement with SkinSciPac Inc., a holding company focusing on the beauty brands market worldwide cosmeceutical products derived from the usage of its proprietary R-Spinasome technology.
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Key Takeaways of the Global Anti-Ageing Products, Services and Devices Market:
On the basis of demographics, Generation X held a dominant position in the market and accounted for a 70.39% share in the global anti-ageing products, services and devices market in 2021.
New product launches, mergers & acquisitions, strategic partnership expansion, and research & development activities for the anti-ageing products, services and devices are key strategies adopted by players in the global anti-ageing products, services and devices market. For instance, in January 2021, L'Oréal launched its latest beauty tech innovation, L'Oréal Water Saver, a sustainable haircare system for the salon and at-home beauty routine, developed with environmental innovation company Gjosa, a developer of unique water-saving solutions, at the Consumer Electronics Show, the world's biggest consumer technology exhibition.
Global Anti Ageing Products Services and Devices Market: Recent Developments
- In September 2021, Esthetics Biomedical Co., Ltd., a beauty regenerative medicine company. Provides Home appliance and skincare top company announces a new scientific findings efforts and develop high-frequency micro-demand devices (RFMN).
- In January 2021, Amorepacific-owned South Korean brand, ‘Innisfree’ announced the launch of a new anti-Ageing line, ‘Black Tea Youth Enhancing’, in Singapore after witnessing a huge success in South Korea.
- In December 2020, Bare Minerals announced a new product line of its anti-ageing collection for dry winter skin with a plant-based alternative to retinol.
Global Anti Ageing Products Services and Devices Market - Impact of Coronavirus (Covid-19) Pandemic
The Covid-19 outbreak has had an adverse impact on various industries around the globe. Due to the strict rules and regulations undertaken by the government to curb the spread of the infection, companies are looking to function remotely. The COVID-19 outbreak reduced the market demand for cosmetics, including anti-Ageing products, globally. Primarily, countries such as the U.S., India, Brazil, Russia, and the U.K., which are some of the most adversely affected, have witnessed a high decrease in sales. Many manufacturers in the market have been historically relying on China for finished products as well as raw materials used in the manufacturing of various types of skincare cosmetics, which have disrupted the production and distribution of these products.
Competitive Section:
- Allergan, Inc*
- Alma Laser
- Coty Inc.
- Beiersdorf AG
- Cynosure
- L’Oréal SA
- Lumenis
- Photomedex
- Personal Microderm (PMD)
- Solta Medical, Inc
