The Global Anti-Ageing Products Services and Devices market is estimated to reach over USD 353.89 million by 2030, exhibiting a CAGR of 6.04% during the forecast period.
Anti-aging products create a market with high acceptance, and they are less expensive and more readily available than services and devices. A huge part of the youthful population is subjected to drastic environmental changes and a sedentary lifestyle, both of which have raised health problems and made them more sensitive of their appearance, appearance, and health. A significant shift in consumer taste for organic and natural products has emerged from a rising predisposition toward plant-based alternatives. Many firms are offering anti-aging solutions made with chemical-free substances in this regard. The anti-aging market is being driven by rising the demand for cosmetic products and increasing disposable income around the world. To acquire a solid footing in the anti-aging ingredients industry, formulators of anti-aging products come up with innovative technologies and effective ingredients such as advanced biotechnology goods or synthetic proteins.
However, in comparison to the non-COVID-19 period, the anti-aging market is expected to grow slowly during the COVID-19 pandemic over the forecast period. Growing urbanization, rising income levels, and increased healthcare awareness are all factors influencing the expansion of organizations affiliated with these industries.
Stringent regulations implemented by regulatory organizations and governments in various countries are impeding the growth of the personal care product industry, which in turn is impeding the growth of the anti-aging component market in the future years.
The Anti-Ageing Products Services and Devices market is segmented based on product, applications, and distributional channel. On the basis of product, the market is categorized as Creams, Moisturizers, Retinol, Dermal Fillers, Botulinum Toxin, Chemical Peels, Cellulite Treatments, Non-Surgical Fat Reduction, Other Products. Based on applications market is segmented as Anti-Pigmentation Therapy, Anti-Cellulite Treatment, Anti-Wrinkle Treatment, Acne Management, Scar Treatment, Other Applications. Based on Distribution Channel market is segmented into Dermatology Clinics, Hospitals and Pharmacies.
Based on product, the Cream segment is accounted as a major contributor in the Anti-Ageing Products Services and Devices market
The cream category is expected to hold a major share in the global Anti-Ageing Products Services and Devices market in 2021. These are specially formulated products that help in the maintenance of moisture, firmness, and elasticity in the facial skin, hence reducing wrinkles and folds. Furthermore, as consumer consciousness about animal welfare and environmental issues grows, more consumers are opting for cruelty-free goods, which is increasing demand for vegan or plant-based ingredient blends in skincare products. New product releases and advances are expected to fuel the market.
Anti-Wrinkles segment witness growth at a rapid rate
The anti-wrinkles segment is projected to grow at a rapid rate in the global anti-ageing products services and devices market during the forecast period. People's awareness of Botox's effectiveness for wrinkle removal is growing because of many celebrities admitting to using it. Furthermore, anti-wrinkle solutions are becoming more technologically advanced, allowing the visible signs of ageing to be decreased, that's why its use is increasing. in the anti-wrinkles sector, especially in countries such as the US, Germany, UK, China, and India.
In the region, the North America Anti-Ageing Products Services and Devices market holds significant revenue share.
The North America Anti-Ageing Products Services and Devices market is expected to register highest market share in terms of revenue soon. Increasing concerns about personal care, lifestyle changes, and awareness of the detrimental effects of pollution on skin are all expected to boost the market's growth in North America. In addition, Asia Pacific is projected to grow at a rapid rate. Anti-aging creams are also becoming more popular in India, Japan, South Korea, and other Asia Pacific growing markets. Acquisitions by cosmetics sector players are likely to help the market's growth in the region. Furthermore, the increased availability of products, together with increased access to diverse domestic and international brands via e-commerce, is driving this region's growth in the anti-aging food market over the upcoming years.
The key players in the Anti-Ageing Products Services and Devices market have shifted their focus towards bio-based components for product manufacturing and are initiating significant strategies such as mergers, acquisitions, and joint ventures of major and domestic players to enhance product portfolio and strengthen their market footprint across the globe. Some of the major key players in the Anti-Ageing Products Services and Devices market are Allergan plc, L'Oréal SA, Age Sciences Inc., The Estée Lauder Companies Inc., Or lane S.A., Alma Lasers Ltd., Lumens Ltd., TRIA Beauty Inc., YA-MAN LTD., Panasonic Corporation, Carol Cole Company Inc., MTG Co. Ltd., Cayden Limited, Coinlike Philips and other prominent players.