The market size of the Global Anti-Ageing Products Services and Devices market in the year 2021 is valued at 211.08 million and is predicted to reach 353.89 million by the year 2030 at an 6.04% CAGR during the forecast period.
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Anti-ageing is a process of limiting or retarding these changes through various products and services. Anti-ageing products, services, and devices are those that are used to reduce the masking of symptoms of age and prevent them from appearing. Acne treatment, skin resurfacing, and anti-pigmentation are all possible with these products. The growing ageing population is a significant factor driving the anti-ageing products, services, and technologies market. Technological advancements in anti-ageing gadgets are expected to create new market opportunities over the upcoming years. Increasing social media penetration and hyper-awareness about skincare has driven key companies to develop new and effective technologies and products to meet the growing demand in order to earn a profit during the forecast period.
Promotion and commercials involving celebrities to advocate the goods and treatments are another important element driving revenue growth in the anti-aging industry.Anti-ageing products are becoming more popular among the elderly. In addition, rising awareness about skincare and the prevalence of skin cancer has enhanced the market for anti-ageing goods and technology over the upcoming years. Key companies in the anti-ageing industry have created several advanced techniques, which are boosting market revenues. Also, demand for non-invasive and non-surgical procedures is likely to rise, increasing sales of anti-ageing goods and equipment. The market is projected to be limited, however, by strict regulatory criteria for devices and societal stigma in many communities.
List of Prominent Players in the Anti-Ageing Products Services and Devices Market:
Personal Microrem (PMD)
Solti Medical, Inc.
Other Prominent Players
Anti-ageing products, services, and devices are those that are used to reduce the masking of symptoms of age and prevent them from appearing. Acne treatment, skin resurfacing, and anti-pigmentation are all possible with these products. The growing older population is a primary factor driving the market for anti-aging goods, services, and technology, and anti-aging products are becoming increasingly popular among the elderly.Over the projection period, rising consumer spending on anti-ageing surgical cosmetic treatments is expected to create enormous market potential. Technological advancements in anti-ageing gadgets are expected to develop new market opportunities over the upcoming years.
The prime challenge is fluctuation in prices of raw materials in developing countries, which is predicted to reduce the growth of the Anti-Ageing Products Services and Devices market over the projected period. However, over the projected period, the market is expected to be hampered by strict regulatory standards for devices and social stigma in different populations. The high cost of luxury anti-ageing products impacts its demand in the lower income group of people, restraining the market growth over the upcoming years.
The North America Anti-Ageing Products Services and Devices market is expected to register a significant growth opprtunities during the forecast period. This is owing to the region’s well-established infrastructure, the presence of significant market competitors and the region’s increasing average lifespans and median age. However, the growing adoption of anti-ageing products and cosmetic procedures, coupled with the favourable reimbursement policies are expected to fuel regional growth over the projection period. Anti-ageing products, services, and technologies are becoming more popular. The growing ageing and affluent baby boomer population and rising beauty and health awareness among generations X and Y are driving the market growth over the upcoming years.
Besides, Asia Pacific had a substantial share in the market due to companies in the region putting more effort into R&D and new product launches to strengthen their market position.
- In January 2021, Amorepacific-owned South Korean brand ”Innisfree” announced the launch of a new anti-ageing line, ”Black Tea Youth Enhancing”, in Singapore after witnessing a massive success in South Korea.
- In August 2020, Merck Kagan entered a strategic cooperation with the Chinese cosmetics company Pichon Group to develop herbal technology and planned to launch a new product line – Pichon Shenyang anti-wrinkle repair series.
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