Increasing Popularity of Minimally Invasive Therapies to Enhance Growth of Global Anti-aging Market, finds TMR
Anti-aging products have been popular amongst the masses since the beginning of civilization. Ancient Indians applied sandalwood to cleanse, moisturize and prevent wrinkles, while Egyptians dabbed anti-aging lotions made from fenugreek. Today, people can choose from numerous natural, synthetic, chemical based products, or even surgical treatments.
The global anti-aging market is expected to grow at a steady pace, as age spots, wrinkles, dry skin, dark circles under the eyes, and pigmentation issues continue to vex consumers across the globe. A host of products have been flooding the markets, right from hair colors to devices for anti-cellulite treatment that claim a guaranteed youthful appearance. Thanks to the robust technological advancements that have generated a plethora of anti-aging devices and services, the contemporary anti-aging market has been fervently displaying increasing demand for these products and services. The market for these products is slated to reach US$191,764.6 mn by 2019, finds Transparency Market Research (TMR).
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Q. Which factors have been influencing the increased adoption of these devices and services?
An upsurge in the aging population worldwide has been boosting the demand for anti-aging products. The U.S. Census Bureau found that in 2011, the population in the U.S. was 181.6mn, and will soar to reach 244.7mn by the end of 2018. However, a portion of the middle aged and young population have also been showing signs of aging owing to lifestyle issues such as obesity and mental health problems such as anxiety and stress. The disposable incomes of people have been rising rapidly, enabling them to have access to these products. Moreover, stringent implementation of regulations helped numerous companies to embark upon fruitful R&D activities that paid off well, giving birth to new, more efficient, safer products.
Q. What are key trends and opportunities in the global market for anti-aging market?
As the anti-aging services and products are quite efficient at erasing age-signs, emerging economies such as Japan, Brazil, South Korea, and India will present considerable opportunities. Minimally invasive treatments made possible through latest technology will also present significant opportunities, due to increasing concerns about safety and efficiency. Some of these are services such as anti-pigmentation therapy, liposuction therapy, and sclerotherapy are expected to be some of the most preferred therapies in Asia Pacific.
Q. Which regions present significant opportunities for the global anti-aging market?
In terms of revenue, North America has been the leading market. Increasing awareness about aging signs among the youth, high prevalence of obesity, sedentary lifestyles of people, and rising geriatric population have been driving the growth of this market.
The obsession with young, beautiful skin, and awareness about the availability of anti-aging services and products is driving the demand for these devices in the emerging economies of Asia Pacific. The Asia Pacific market is slated to attain a revenue worth USD 10,080.5 mn by 2019.