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
The major driving factors for the anti-aging market are the rising number of awareness-raising seminars and conferences, surging geriatric population, increasing disposable income, technological advancements, expanding medical tourism sector, and escalating cosmetic surgery volume. These factors will lead to an increase in the industry revenue from $191.5 billion in 2019 to $421.4 billion in 2030, at an 8.1% CAGR during 2020–2030 (forecast period). Products used to diminish the signs of aging are easily available at physical stores and online portals.
A key factor aiding the anti-aging market advance is the rising number of seminars and conferences being organized to make plastic surgeons, students, and the general public about the advanced anti-aging treatments. For instance, the Aesthetic & Anti-Aging Medicine World Congress (AMWC) hosted by EuroMediCom (Informa Group) in April 2019 in Monte Carlo, Monaco, included five knowledge sharing and discussion sessions on anti-aging and aesthetics. Formerly, the Aesthetic & Anti-Aging Medicine World Congress 13th Edition was hosted in Thailand in September 2018 by the American Academy of Anti-Aging Medicine (A4M).
Another major reason the demand for anti-aging treatments and products is increasing is the booming geriatric population. The United Nations says that the number of people in the age group of 65 and above will surge from 703 million in 2019 to 1.5 billion by 2050. With age, people experience stem cell and fibrous tissue loss, which leads to dryness, wrinkles, sagging, and pigmentary alteration. Therefore, in order to continue looking young and attractive, the geriatric population regularly uses anti-aging remedies, which tighten and revitalize the skin, in addition to making people look young.
North America is the dominant region in the anti-aging market currently, owing to the rising plastic surgery volume and geriatric population. The UN expects the number of elderly people on the continent to increase to 96.2 million by 2050 from 59.9 million in 2019. This, coupled with the growing volume of plastic surgeries, is expected to result in a massive surge in the demand for various therapies and products that help people look young and aesthetically appealing.
Hence, as more people age and their awareness regarding how they can reverse or physically hide the effects of this process rises, the market will keep blossoming.
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