Global Anti-aging Market to Rise at a CAGR of 7.8% 2013-2019 due to Increasing Aging Population
Furthermore, the research report includes SWOT analysis to point out the strengths, weaknesses, opportunities, and threats of the market. Additionally, it also highlights the threat of new entrants, the threat of substitute products or services, the bargaining power of customers, the bargaining power of suppliers, and the intensity of competitive rivalry.According to the research report, the global anti-aging market was valued at US$122.3 bn in 2013 and is expected to reach US$191.7 bn by the end of 2019, registering a CAGR of 7.8% between 2013 and 2019.
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Products that promise reversal of aging signs that appear on the skin are known as anti-aging products. In recent times, anti-aging products have been in great demand due to the growing usage of moisturizer-based cosmoceutical products used for skin care. The ability of products available in the global anti-aging market to mask the signs of skin aging has given this market a huge impetus. Consumers across the globe are spending on these products and devices in order to retain a youthful appearance.
The global anti-aging market is segmented on the basis of demographic, product, service, device, and region. The demographics that anti-aging market caters to are baby boomers, Generation X, and Generation Y. Products available in the global anti-aging market are UV absorbers, anti-wrinkle products, hair color, and anti-stretch marks products. The services offered in the global anti-aging market are anti-pigmentation therapy, breast augmentation, adult acne therapy, abdominoplasty, liposuction services, chemical peels, eyelid surgery, sclerotherapy, and hair restoration. The devices available in this market are anti-cellulite treatment devices, microderm abrasion devices, laser aesthetic devices, and radiofrequency devices. Geographically, this market is segmented into Asia Pacific, North America, Europe, and Rest of the World.
The research report suggests that those born between 1946 and 1964 are the largest consumers of anti-aging products and services. The statistics also pointed out that about 8,000 become part of this category every day, an addition that is expected to continue for the coming 18 years. The rising disposable income of this age group is expected to drive the anti-aging market. Furthermore, the fact that the majority of the anti-aging products and services do not require a prescription is also fueling the overall anti-aging market.
Some of the key players in the global anti-aging market are Photomedex Inc., Personal Microderm, Lumenis Ltd, Beiersdorf AG, Coty Inc., Solta Medical Inc., Cynosure Inc., Alma Lasers Ltd, and L’Oreal, SA. The research report provides an insightful take on the competitive landscape of the global anti-aging market. Furthermore, it also evaluates the financial overview, research and development activities, business and marketing strategies, and investment outlook of these top players in the overall anti-aging market.
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