NEWARK, DE / ACCESSWIRE / January 3, 2023 / Between 2023 and 2033, the market for anti-ageing products services and devices is expected to develop at a CAGR of more than 5.5%. The market for anti-ageing products services and devices was projected to reach US$ 59 billion in value by 2022. According to Future Market Insights (FMI), the anti-ageing market's revenue is predicted to increase from US$ 64.0 billion in 2023 to US$ 109.8 billion by 2033.
The increased consumer concern about their physical appearance and aesthetic traits has resulted in increased demand for different anti-ageing products, services and devices which is driving the global anti-aging market. The global anti-ageing business is expanding owing to the booming worldwide cosmetics and skincare market.
The global anti-aging market is being driven by younger generations' increased knowledge of body and skin care anti-aging products. Since skin problems are becoming more prevalent as a result of pollution, poor eating habits, alcohol abuse, etc., people are more inclined to take care of their skin.
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Additionally, the growing geriatric population in emerging nations is to account for the global upsurge in sales of anti-aging products. As a result, consumers who are becoming older across different regions have a continuous requirement for anti-wrinkle products. The global anti-aging market is also being driven by consumer desire for anti-wrinkle creams and lotions to appear young and attractive.
Sales of anti-aging products services and devices are boosted by the expansion of pharmacies, internet retailers, and other types of outlets. Manufacturing firms in the global anti-aging market are concentrating on supplying herbal and organic beauty products to customers to meet their growing demand.
To meet customer demand, businesses in the anti-aging sector are creating innovative products. The anti-aging industry is anticipated to expand as a result of technical advancements and increasing spending by large corporations on research and development to produce exceptionally safe and efficient skin care products.
The increased knowledge and acceptability of anti-aging treatments has led to a potential market for anti-aging products, services and devices as well as aesthetic plastic surgery procedures throughout the forecast period.
The highest revenue share in the global market belongs to North America. The strong emphasis on the value of looks in society and the increased awareness of the availability of efficient anti-aging therapies are primarily responsible for North America's profitable growth.
Key Takeaways
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The market for anti-ageing products services and devices in the United States is anticipated to grow at a CAGR of 5.6% through 2033.
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With a CAGR of 5.9%, the United Kingdom anti-ageing products services and devices market is expected to grow significantly during the forecast period.
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With a CAGR of 5.2% throughout the research period, Germany is predicted to grow rapidly in the market for anti-ageing products services and devices by 2033.
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The anti-ageing products services and devices market in China is expected to grow at a CAGR of 4.8% over the forecast period.
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With a CAGR of 4.5% throughout the assessment period, the market for anti-ageing products services and devices in India is anticipated to increase speedily.
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The moisturizers category of the anti-ageing products services and devices market's product type segment is predicted to develop at a CAGR of 5.1% through 2033.
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In the market for anti-ageing products services and devices, the anti-pigmentation therapy section of the application category is estimated to showcase a CAGR of 5.0% over the forecast period.
Competitive Landscape
Key companies in the anti-ageing products services and devices market are Aesthetics Biomedical®, Inc., Innisfree, Crescita Therapeutics Inc, Bare Minerals, L'Oreal SA, The Face Shop, Allergan Inc., Beiersdorf AG, Coty Inc., Cynosure Inc., Personal Microderm (PMD), Age Sciences Inc., Lumenis Ltd., Solta Medical Inc., Nestle and others.
To increase their market share in anti-ageing products services and devices, these businesses have employed a few strategies. They have employed both organic and inorganic development strategies, such as new product launches, acquisitions, corporate expansions, and partnerships, to grow their clientele and income.
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Recent Developments
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In September 2021, following the booming demand for minimally invasive devices to address anti-aging and skin care procedures, Aesthetics Biomedical Inc., a regenerative aesthetics medical device and top skin care company, announced new scientific findings through its research and development initiatives for its radio frequency micro-needling device (RFMN), Vivace.
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In January 2021, after experiencing tremendous success in South Korea, the South Korean company "Innisfree," owned by Amorepacific, unveiled the introduction of a new anti-aging line, "Black Tea Youth Enhancing," in Singapore.
Anti-ageing Products Services and Devices Market by Category
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter's Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
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