Anti-Aging Services Market Overview
The global anti-aging services market is likely to spur at a CAGR of 5.4% during the forecast period and expand from the value of USD 21.39 billion in 2017. This growth is primarily attributable to the increasing elderly population coupled with desire to look young and beautiful. Aging damages to the macromolecules, cells, tissues and may result into epigenetic alterations, genomic instability, loss of proteostasis, cellular senescence, mitochondrial dysfunction, and stem cell exhaustion.
In addition to this, increasing influence of media or film industry in daily life is boosting demand for the anti-aging drugs and services. In order to cater to this demand, the key players are investing heavily for development of more effective and less harmful drugs and treatments are driving growth of the global anti-aging services market. Despite of these factors, the high cost of surgical procedures or treatments and risk of potential side effects of these treatments are some of the factors that may hamper its adoption and resulting to slow growth of the global anti-aging services market to some extent.
Anti-Aging Services Market Competitive Analysis:
Some of the major companies in the global anti-aging services market include Allergan Inc., Alma Lasers, Beiersdorf AG, Cutera Inc., Cynosure Inc., Elizabeth Arden, Estee Lauder Inc., Lumenis, Procter & Gamble, Solta Medical Inc.
Anti-Aging Services Market Segmentation:
The anti-aging services market is segmented on type of service, service provider, and region.
Based on type of service, the market is segmented into breast augmentation, microdermabrasion, liposuction, sclerotherapy, chemical peel, intense pulsed light, dermal fillers, Botox treatment, and others. Among these, the microdermabrasion segment held largest share in the global anti-aging services market in 2017 and is estimated to remain larger share holder in the coming years. This growth is attributable to the wider acceptance of the procedure, better patient compliance, increasing acceptance in different regions. Additionally, the better results are estimated to remain as a trend in coming years, which is likely to benefit the market growth.
By the service providers, the market is segmented into dermatology clinics, hospitals, salons, and others. Of these, the dermatology clinics segment held larger share in the global market for anti-aging services market in 2017 and is anticipated to account remain dominant in the global anti-aging services market during the forecast period.
Anti-Aging Services Market Regional Analysis:
Regionally, the anti-aging services market is segmented into the Americas, Asia Pacific, Europe, and Middle East & Africa. Of these, the Americas is likely to be most lucrative region in the global anti-aging services market on the back of the well-established healthcare infrastructure and high awareness toward the body aesthetics. Additionally, the factors such as high disposable income coupled with increasing acceptance of the anti-aging services especially in the U.S are estimated to benefit the market growth in coming years. Furthermore, the huge influence of fashion, beauty, and aesthetic services are fueling growth of the global anti-aging services market in the region.
Europe is estimated to hold the second largest share in the global anti-aging services market owing to popularity of these services and increasing geriatric population. However, the market in the Asia Pacific is estimated to witness fastest growth during the predictable years owing to increasing disposable income, beauty consciousness, and growing demand for cost-effective anti-aging service in the region. Additionally, increasing availability of these services along with awareness about its benefits is fueling the market growth.
Anti-Aging Services Industry News:
In 2019, ProMD Health has expanded in Arlington, after eight years of success in Baltimore and Annapolis. These services are offering the personalized medicinal approach to help patients look younger and feel younger through complete suite of facial transformation, lifestyle services, and hormone optimization therapy.
In 2019, ActivLayr introduced its advanced and easiest Nano-collagen under eye firming masks, which are the most effortless way to treat signs of aging around eyes. These masks help them to look younger and act as a quickest anti-aging agent based on the bio-actives dermal delivery system.
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