The global anti-aging market is growing significantly due to upsurge in geriatric population and innovation of effective and technologically advance anti-aging products and devices. According to the World Health Organization, the population of 60 years and above is expected to rise to 15% in 2050; thus it would show immense inclination towards the anti-aging products and services, which further propels the growth of anti-aging products and devices in market. The unexplored market in anti-aging industry of developing economies is creating abundant opportunities for the anti-aging market to grow at a considerable rate during the projected years. In addition, the advanced research and development facilities, and innovative product developments by the companies are propelling the growth of the anti-aging industry.
Aging is caused due to biomedical changes in the body. It can be natural aging or extrinsic aging. Natural aging is caused due to natural processes, such as reduced collagen and elastin production, declined cellular regeneration, and reduced exfoliation, leading to thinning and sagging of skin, hyperpigmentation, age spots and dry skin. Whereas extrinsic aging is caused due to ultraviolet exposure for long duration, alcohol consumption, and poor diet such as lack of antioxidants vitamins. Advancement in plastic surgery, cosmetology and dermatology are increasing the ways to mask aging signs.
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The anti-aging market is categorized on the basis of products, services and devices. On the basis of products, the market can be categorized as anti-wrinkle products, hair color, anti-stretch mark products, and UV absorbers. Anti-wrinkle products are further segmented on the basis of type as dermal filters, and botox. The anti-aging products lead the market in terms of revenue, due to increasing efficacy and safety of anti-aging products.
On the basis of services the market can be segmented as adult acne therapy, ant-pigmentation therapy, sclerotherapy, eye-lid surgery, breast augmentation, hair restoration services, liposuction services, abdominoplasty, and chemical peel. Further, on the basis of devices, the market is categorized as radiofrequency devices, anti-cellulite treatment devices, laser aesthetic devices and microderm abrasion devices.
Some of the factors driving the growth of the global anti-aging market are increasing aging population, increasing personal care expenditure, upsurge in sedentary lifestyle, and innovation of safe and effective anti-aging products and services. In addition, increasing prevalence of obesity, increase in disposable income, and increasing awareness of aging signs are also some of the factors fuelling the growth of the global anti-aging market in the forecasted period. However, strict regulatory requirements and side effects of anti-aging products are some of the factors restraining the growth of the global anti-aging market to some extent.
Geographically, North America will be leading the global anti-aging market in the coming years, due to increasing prevalence of obesity and upsurge in sedentary lifestyle. Asia-Pacific is the fastest growing region in the global anti-aging market. The major reasons for the fastest growth of anti-aging market in the region are mounting disposable income, huge pool of patients, and increasing prevalence of obesity in the region. Moreover, the anti-aging market is growing due to increasing awareness of anti-aging products and services in the emerging countries, such as India and China, of Asia-Pacific region.
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Some of the companies operating in the global anti-aging market are Cynosure, Allergan Inc., Beiersdorf AG, Coty Inc., L’Oreal SA, Alma Laser, Solta Medical Inc., Personal Microderm, Photomedex, and Lumenis.
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