Asia Europe South America Anti Aging Market Estimated to Expand at a Robust CAGR by 2025 2020
Restoring the younger looks and thereby finding solutions against signs of aging has been a mission for cosmetologists and health care professionals for centuries. As a result, market for anti-aging products is experiencing continuous growth since decades. Various products and services are perpetually entering into the market to serve the agenda of restoring younger looks. Presently, various anti-aging products such as UV absorbers, dermal fillers, Botox, anti-stretchmark products, hair color, and anti-wrinkle products are widely used.
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The anti-wrinkle products segment was valued at USD 8,088.3 million in 2013 in Asia. The dominance of this segment was primarily due to increasing adoption of anti-wrinkle products among the population. The anti-aging products market in Japan is growing swiftly owing to reasonable costs and rising awareness about the availability of aesthetic products. According to the International Society of Aesthetic Plastic Surgeons (ISAPS), a total of 146,150 Botox injection procedures were registered in Japan in 2010. The number further increased to 208,313 in 2011. Considering all the above mentioned factors, Japan was leading the overall anti-aging products market in Asia in terms of revenue in 2013. While on the other hand, China is expected to show significant growth in the anti-aging products market during the forecast period. Factors such as anticipated rise in the aging population coupled with rising awareness about commercially available anti-aging products are primarily driving the growth of the market in China. The anti-aging services market is growing rapidly in Europe owing to steady recovery from the economic crisis, and consequently, rising disposable income and increasing demand. Italy was a leader in the anti-aging services market in the overall Europe in 2013 due to higher demand for breast augmentation and hair restoration treatments. While on the other hand, Spain anti-aging services market is expected to record highest growth during the forecast period. Adoption of sclerotherapy is anticipated to primarily boost the growth of the Spain anti-aging treatment services market owing to the increasing prevalence of varicose vein due to aging and obesity. The growth of the geriatric population coupled with rise in obesity are some of the other factors driving the growth of sclerotherapy services segment in the country.
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Brazil dominates the aesthetic procedures industry among South American countries. Brazil registered 1,447,213 aesthetic procedures in 2011. Affordable rates, availability of advanced techniques and a well-defined regulatory infrastructure are the prime drivers for the growth of the aesthetic industry in Brazil. As a result, people around the world travel to Brazil for aesthetic treatment. Thus, increasing demand for aesthetic procedures in the country is observed that would boost the growth of aesthetic devices in Brazil. Similarly, adoption of laser treatment and radiofrequency treatments is observed to be higher in Brazil owing to the safety and efficacy of these treatments. Therefore, in 2013, the laser aesthetic and radiofrequency devices segments accounted for the largest market of USD 59.0 million and USD 19.2 million, respectively.
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Some of the key players operating in the anti-aging market include Allergan, Inc., Alma Laser Ltd., Beiersdorf AG, Coty, Inc., Cynosure, Inc., L’Oréal SA, Solta Medical, Inc. (Valeant Pharmaceutical International, Inc.), and PhotoMedex, Inc.