ESOMAR-certified consulting firm Future Market Insights has forecast the anti-aging products, services and devices market to reach a valuation of US$ 369.79 Bn over the forecast period of 2021 and 2031.
Growing demand for anti-wrinkle treatment and anti-cellulite treatment across the U.S, India, UK and Germany have propelled the market growth. Increasing demand for clinically-evidenced ingredients are boosting non-invasive anti-ageing cosmetic procedures.
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As per the FMI’s analysis, the anti-ageing products, services and devices market across the U.S. and the UK is anticipated to expand at an impressive rate during the forecast period. Growing prevalence of skin disorders such as atopic dermatitis, melanoma and non-melanoma skin cancer will improve the adoption of anti-ageing treatment.
With rising awareness regarding skin care routine and growing urgency to have younger looking skin have amplified the sales of products rich with retinols, moisturizer and dermal fillers reducing wrinkle lines among women.
Another key factor responsible for growing revenues in the anti-ageing market is promotion and advertisements featuring celebrities to endorse the products and treatments. As such, key players are adopting different strategies to boost their revenue generation, fueling the market growth.
Based on the aforementioned factors, the anti-ageing products, services and devices market is slated to expand at a moderate pace of over 5.20% CAGR during the assessment period of 2021 and 2031.
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Key Takeaways from FMI’s Anti-Ageing Products, Services and Devices Market Study
- In terms of application, anti-wrinkle treatment is anticipated to be the largest segment in terms of revenue
- Anti-cellulite treatment will witness robust growth owing to the increasing number of people undergoing this procedure across the U.S. and the UK
- The U.S. is anticipated to register high demand, leading the North America market over the forecast period
- The UK and France will witness steady growth owing to the increasing ageing population and rising prevalence of skin disorders in the region
- Driven by increasing demand of anti-ageing products among ageing population, Germany recorded notable growth, accounting for 15% of global market share
- India is anticipated to emerge as a lucrative market backed by the high demand of cellulite treatment and chemical peels in the country
“Increasing research and development initiatives aimed at the development of advanced products, catering to the burgeoning demand for retinol- and anti-acne- rich creams among consumers are creating wide-berth opportunities for the key players,” says the FMI analyst.
Competitive Landscape
Prominent players in the market are focusing on strategic mergers and collaboration to expand their global footprint in the market.
New product launches coupled with increasing research & development activities for the development of advanced anti-ageing products & devices will also be one of the key strategy to enhance their customer base for market players.
For instance, in December 2020, Devonian Health Group, a global clinical stage botanical pharmaceutical corporation, announced the launch of R-Spinasome anti-ageing technology global sales and marketing partnerships.
Also, in January 2021, Aptar Beauty, announced the development of its first airless roll-on capsule for LightinDerm Skincare Device.
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