NEW YORK, June 14, 2021 /PRNewswire/ -- From $194.4 billion in 2020, the global market size for anti-aging is set to cross $422.8 billion by 2030, at an 8.6% CAGR between 2021 and 2030 (forecast period). The key factors driving this growth would be the increase in the awareness on the available products via conferences and seminars, growth in the medical tourism sector, increase in the number of anti-aging cosmetic procedures, and rise in the disposable income worldwide.
The anti-aging market was badly affected during the COVID-19 pandemic, as manufacturing plants remained shut during much of the lockdown period, in compliance with government norms. Similarly, international trade, especially of non-essential goods, was prohibited or limited, thereby reducing the product supply. In addition, the closed cosmetic centers, spas, and dermatology departments at hospitals reduced the demand for the devices.
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In 2020, North America generated the highest revenue in the anti-aging market on account of the rising volume of non-surgical cosmetic treatments, increasing skincare product awareness, and surging volume of anti-aging treatments in Canada and the U.S.
Browse detailed report with COVID-19 impact analysis 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, Generation Z) ? Revenue Estimation and Demand Forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/anti-aging-market
The fastest anti-aging market growth is likely to be seen in Asia-Pacific (APAC) till 2030 due to the rising volume of cosmetic procedures, in part due to the swift urbanization. Moreover, the growing geriatric population is propelling the market in the region as it is increasingly seeking treatment for age-related issues. The World Population Ageing 2019 report of the United Nations (UN) expects the population of people 65 years and older in Asia to surge from 395.3 million in 2019 to 954.7 million by 2050.
Product Launches Characterize Market Competition
In order to target more customers, players in the anti-aging market are launching new products.
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For instance, in March 2020, Stellar M22 was launched by Lumenis Ltd. to offer better energy-based skincare treatments. This next-generation, multi-application platform features an improved user interface and large screen for higher comfort and to allow one to view the treatment from a distance.
The most-significant players in the global anti-aging market are The Procter & Gamble (P&G) Company, Hologic Inc., Nu Skin Enterprises Inc., Unilever Group, Galderma SA, Pierre Fabre S.A, Shiseido Company Limited, Home Skinovations Ltd., and Candela Corporation.
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SOURCE P&S Intelligence
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