Anti-Aging Market Revenue Worth $421.4 Billion by 2030: P&S Intelligence
NEW YORK, March 15, 2021 /PRNewswire/ -- In April 2019, the Aesthetic & Anti-Aging Medicine World Congress (AMWC) was organized in Monte Carlo, Monaco, by EuroMediCom (Informa Group). During the five sessions of the conference, opinion leaders and industry experts shared knowledge and had discussions regarding anti-aging and aesthetics. Due to the rising number of such conferences and seminars, the global anti-aging market is set to experience an 8.1% CAGR during 2020–2030, to grow from $191.5 billion in 2019 to $421.4 billion by 2030, according to P&S Intelligence.
Key Findings of Global Anti-Aging Market
- Consumers increasingly opting for home-use products and devices
- Booming geriatric population strongest driver for market
- Anti-wrinkle products continue to witness highest sales
- Generation X largest user of anti-aging products
- Lucrative market opportunities in APAC
- Market players launching new products to consolidate competition
This is because such events generally involve the launch and promotion of an array of devices and products by cosmetic and personal care companies. Therefore, the anti-aging market is primarily advancing due to the rising awareness of consumers about the latest associated products available and under development. Earlier, in September 2018, a similar event was hosted by the American Academy of Anti-Aging Medicine (A4M) in Thailand.
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The COVID-19 crisis is negatively impacting the anti-aging market, as the lockdown and movement restriction measures have halted the manufacturing and trade of the related devices and products. In addition, with the entire focus of the healthcare on containing the infection spread, the majority of the cosmetic and aesthetic centers are non-operational. On the demand side, salary cuts and unemployment are widespread, which is why people are saving as much as possible for essential things, such as food and medicine.
The anti-wrinkle category held the largest share in the anti-aging market based on product, historically. With many celebrities admitting to undergoing the Botox treatment, people's awareness about it being effective for the reduction of wrinkles is increasing. In addition, anti-wrinkle products are being technologically advanced, so that the signs of aging can be visibly reduced, which is why their usage is growing.
Browse detailed report with COVID-19 impact analysis on Anti-Aging Market Research Report: By Product (Anti-Wrinkle, Hair Color, Ultraviolet Absorption, Anti-Stretch Mark), Treatment (Hair Restoration, Anti-Pigmentation, Adult Acne Therapy, Breast Augmentation, Liposuction, Chemical Peel), Demography (Generation X, Baby Boomers, Generation Y) - Global Industry Analysis and Growth Forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/anti-aging-market
In the years to come, the fastest growth in the anti-aging market is expected to be experienced in the Asia-Pacific (APAC) region. Due to the booming geriatric population, surging volume of cosmetic surgeries, and rising number of awareness-raising seminars and conferences, the popularity of anti-aging treatments, devices, and products is burgeoning in regional countries.
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Key players in the global anti-aging market are Nu Skin Enterprises Inc., Candela Corporation, The Procter & Gamble Company, Hologic Inc., Home Skinovations Ltd., Allergan plc, L'Oréal SA, Age Sciences Inc., The Estée Lauder Companies Inc., Orlane S.A., Alma Lasers Ltd., Lumenis Ltd., TRIA Beauty Inc., YA-MAN LTD., Panasonic Corporation, Carol Cole Company Inc., MTG Co. Ltd., Cyden Limited, Koninklijke Philips N.V., Spectrum Brands Holdings Inc., Amorepacific Corporation, LightStim, Conair Corporation, Project E Beauty, Dr. Dennis Gross Skincare LLC, FOREO AB, Jeisys Medical Inc., Beauty Bioscience Inc., and Imdad LLC.
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About P&S Intelligence
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SOURCE P&S Intelligence
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