NEW YORK, Sept. 22, 2020 /PRNewswire/ — As per the 2019 World Population Ageing report by the United Nations (UN), the number of people aged 65 and above on earth will increase from 703 million in 2019 to 1.5 billion in 2050. This is one of the major factors predicted to steadily drive the global anti-aging market, from $191.5 billion in 2019 to $421.4 billion by 2030, at an 8.1% CAGR between 2020 and 2030, according to P&S Intelligence. This is because, with age, the fibrous tissue and glandular network in the layers of the skin reduces, which leads to dryness, wrinkles, sagging, and pigmentary alteration.
This is benefitting the anti-aging market, as, due to all these aesthetic problems, the elderly are rapidly taking steps to keep looking youthful and lively. Apart from reducing the signs of aging, such treatments and products also tighten and revitalize the skin. Moreover, the rising appearance consciousness and awareness about anti-aging treatments are encouraging the elderly to go for them.
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During the coronavirus crisis, the anti-aging market is witnessing subdued growth, because the shutdown of manufacturing plants has led to hindrances in the supply of associated products. Moreover, most of the cosmetic clinics and other medical settings offering aesthetic treatments have suspended operations, as the main focus of the healthcare sector is currently on COVID-19 patients. In addition, people too are purchasing only the essential stuff, which has reduced the demand for anti-aging products and treatments.
Browse report with detailed TOC on Anti-Aging Market Research Report: By Product (Anti-Wrinkle, Hair Color, Ultraviolet Absorption, Anti-Stretch Mark), Treatment (Hair Restoration, Anti-Pigmentation, Adult Acne Therapy, Breast Augmentation, Liposuction, Chemical Peel), Demography (Generation X, Baby Boomers, Generation Y) – Global Industry Analysis and Growth Forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/anti-aging-market
North America is the highest revenue contributor to the anti-aging market currently, due to its rising plastic surgery volume, booming geriatric population, and increasing popularity of non-surgical cosmetic procedures and sales of at-home anti-aging products. Asia-Pacific (APAC) would witness the fastest industry advance in the next decade, owing to the rising number of elderly people, cosmetic surgeries, and conferences and seminars, which are helping raise awareness about the various products and treatments available.
Companies in the anti-aging market are engaging in partnerships to give themselves a better chance of success, as such moves let them:
- Commercialize their offerings in new regions
- Distribute each other’s luxury cosmetic products
- Gain new advertising and marketing channels
- Bring innovations to their product portfolio
- Expand their geographical presence
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The most significant players in the global anti-aging market include Nu Skin Enterprises Inc., The Procter & Gamble Company, Candela Corporation, Hologic Inc., Allergan plc, Home Skinovations Ltd., L’Oréal SA, The Estée Lauder Companies Inc., Age Sciences Inc., Orlane S.A., Lumenis Ltd., Alma Lasers Ltd., TRIA Beauty Inc., Panasonic Corporation, YA-MAN LTD., Carol Cole Company Inc., Koninklijke Philips N.V., MTG Co. Ltd., Spectrum Brands Holdings Inc., LightStim, Amorepacific Corporation, Conair Corporation, Dr. Dennis Gross Skincare LLC, Project E Beauty, FOREO AB, Beauty Bioscience Inc., Jeisys Medical Inc., Cyden Limited, and Imdad LLC.
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SOURCE P&S Intelligence