The Global Anti-Aging Treatment Market, By Product Type (UV Absorbers, Anti-Wrinkle Products, Anti-Stretch Mark Products, Natural Products, and Others), By Technology (Botulinum Toxin Therapy, Dermabrasion, Microdermabrasion, Chemical Peels, Fractional Laser Skin Resurfacing, Dermal Fillers, and Nonablative Skin Rejuvenation), By End User (Hospitals, Skin Care Clinics, Homecare Settings, and Others) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
The strategies of key market players, like acquisitions, are expected to drive the global anti-aging treatment market growth over the forecast period. For instance, on April 28, 2023, The Estée Lauder Companies Inc. (ELC), multinational cosmetics company announced that it had completed the acquisition of the TOM FORD, a luxury fashion brand and is now the sole owner of the TOM FORD brand and all its intellectual property. The deal values the total enterprise at US$ 2.8 billion. At closing, ELC paid approximately US$ 2.25 billion. This amount was funded by cash on hand and proceeds from the issuance of commercial paper, as well as US$ 250 million received from Marcolin. An additional aggregate amount of US$ 300 million in deferred payments from ELC to the sellers.
Global Anti-aging Treatment Market – Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quickly and has a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems regarding the transportation of drugs from one place to another.
COVID-19 had a negative impact on the global anti-aging treatment market due to reduced cosmetic-related hospital visits. For instance, according to an article published by Plastic and Reconstructive Surgery on August 8, 2020, the coronavirus disease 2019 (COVID-19) pandemic led to a drastic decline in the number of cosmetic surgeries performed in the U.S. This is because many national societies and local governments have provided recommendations for surgeons to initially suspend and progressively resume elective surgery. A study was conducted on nearly 532 surgeons, out of whom an estimated 161 members (30.2%) completed the survey. Changes in hospital policy were cited as the most common reason (89%) for determining which procedures were currently offered.
Global Anti-aging Treatment Market: Key Developments
Increasing launch of new products that can improve the efficacy of cell culture methods is expected to drive market growth.
For instance, on March 12, 2023, Beiersdorf AG, a Germany-based multinational company that manufactures personal-care products and pressure-sensitive adhesives, launched Nivea Q10 Anti-Wrinkle Specialist Targeted Wrinkle Filler. NIVEA Q10 contains coenzyme Q10 that is 100% identical to the Q10 produced by the skin. It naturally replenishes skin's own anti-age defense. Wrinkles and lines are visibly reduced in 4 weeks, and the skin is nourished with intense moisture, according to the company.
Browse 39 Market Data Tables and 38 Figures spread through 160 Pages and in-depth TOC on Global Anti-aging Treatment Market, By Product Type (UV Absorbers, Anti-Wrinkle Products, Anti-Stretch Mark Products, Natural Products, and Others), By Technology (Botulinum Toxin Therapy, Dermabrasion, Microdermabrasion, Chemical Peels, Fractional Laser Skin Resurfacing, Dermal Fillers, and Nonablative Skin Rejuvenation), By End User (Hospitals, Skin Care Clinics, Homecare Settings, and Others) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/anti-aging-treatment-market-4210
Key Takeaways of the Global Anti-aging Treatment Market:
- The global anti-aging treatment market is expected to exhibit a CAGR of 7.3% during the forecast period. Funding raised by key market players is expected to accelerate its research and development activities. For instance, on March 8, 2023, Retro Biosciences, Inc., a U.S.-based biotechnology company, received US$180 million in an anti-aging therapy project that focuses on cellular reprogramming, autophagy, and plasma-inspired therapeutics. The funding was given by OpenAI, a U.S.-based artificial intelligence research laboratory.
- Among product type, the UV absorbers segment is expected to dominate the global anti-aging treatment market over the forecast period, owing to launch of new therapies. For instance, on July 14, 2022, Luxury Aesthetics Centre, an India-based cosmetic and skin care practice center, launched the non-invasive lifting and skin-tightening, anti-ageing treatment – Ultherapy in India. Ultherapy is the only non-surgical procedure US FDA cleared to lift skin on the neck, under the chin, and on the brow, specifically to improve the appearance of lines and wrinkles on the decollate. Ultherapy can help patients to achieve a fresher, more youthful look from the brow to the chest.
- Among region, North America is expected to be the dominant region in the global anti-aging treatment market, owing to the increasing launches of newer anti-aging therapies in the region. For instance, on March 2, 2022, 7E Wellness, a U.S.-based medical device contract manufacturing company, launched a microcurrent device for anti-aging treatment. The device comes with a set of two probes that can be maneuvered on the face for targeted treatment. Known for its ability to boost ATP, collagen and elastin production, Myolift Mini can be used up to three times a week for effortless skin-lifting results.
- 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
