The Global Anti-Aging Products, Services, and Devices Industry is poised to experience a remarkable surge, with a projected compound annual growth rate (CAGR) of 5.5% between 2023 and 2033. According to a comprehensive report released by Future Market Insights (FMI), the industry is expected to reach an estimated value of US$ 109.8 billion by 2033.
The driving force behind this unprecedented growth is the escalating demand for maintaining a youthful appearance. In an era where personal image plays a pivotal role, individuals are increasingly focused on enhancing their physical allure. The desire to look younger and more attractive is fueling the robust demand for a diverse range of anti-aging products, services, and devices.
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The growing prevalence of skin disorders such as atopic dermatitis, melanoma, and non-melanoma skin cancer will improve the adoption of anti-aging treatments.
Rising awareness regarding skincare routines and growing urgency to have younger-looking skin have amplified the sales of products rich with retinol, moisturizers, and dermal fillers reducing wrinkle lines among women.
Another key factor responsible for growing revenues in the anti-aging 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.
Key Takeaways from FMI’s Global Anti-Aging Products, Services, and Devices Industry 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 American 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 for anti-aging products among aging population, Germany recorded notable growth, accounting for 15% of the global market share
- India is anticipated to emerge as a lucrative market backed by the high demand for cellulite treatment and chemical peels in the country
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- Anti-Pigmentation Therapy
- Anti-Cellulite Treatment
- Anti-Wrinkle Treatment
- Acne Management
- Scar Treatment
- Others
By Product Type:
- Creams
- Moisturizers
- Retinols
- Dermal Fillers
- Botulinum Toxin
- Chemical Peels
- Cellulite Treatment
- Non-Surgical Fat Reduction
- Others
By Distribution Channel:
- Dermatology Clinics
- Hospitals, Pharmacies, Drugstores
- Rejuvenation Centers
- Others
Global Anti-Aging Products, Services, and Devices Industry 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-aging products & devices will also be one of the key strategies 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-aging technology global sales and marketing partnerships.
Also, in January 2021, Aptar Beauty announced the development of its first airless roll-on capsule for the LightinDerm Skincare Device.
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Author:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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