Anti-aging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)


Posted April 26, 2021 by manojshinde

The Anti-aging Market is valued at approximately USD 44,124 million in 2020 and is expected to witness a revenue of USD 64,043 million in 2026, with a CAGR of 6.1% over the forecast period.
 
The global pandemic of COVID-19 has highly impacted all facets of the healthcare industry. As per the research article published in Aesthetic Plastic Surgery, 2020, in 2018, there were 17.7 million cosmetic procedures, a 2% rise from 2017, which highlights the recent increasing trend in cosmetic procedures.

However, the amount of cosmetic procedures in 2020 has been minimal to none during the COVID-19 pandemic in the United States (mid-March to mid-June). Also, as per a research study carried by Amorepacific Research Institute and Technology, 2020, wearing a face mask, which is most important during the current pandemic has led to adverse effects on skin and suggested that the skin covered with face masks should be treated extra carefully due to certain changes in skin characteristics. However, most of the elective surgeries are deferred to secure the healthcare infrastructure for COVID-19 patients. Thus, the current pandemic is expected to have a direct and indirect impact on the anti-aging market.


The rise in the consumer demand for anti-aging solutions, with the increase in lifestyle standards and income among the population across the globe, is the major factor driving the growth of the studied market. According to the United Nations World Population Prospects 2019 report, the total population within the range of 40-59 years of age was approximately 17,83,309 in 2019 and is predicted to reach 20,46,991 by 2030. This age group population is anticipated to adopt preventive aging solutions. Similarly, according to the International Society of Plastic Surgery (ISPAS) report 2019, a total of 1,582,296 individuals aged 51-64 years underwent Botulinum Toxin procedures globally in 2019.

Additionally, the advancements in technology and increasing investment in the research and development activities by major players for the innovation of highly safe and efficient skin care solutions are expected to propel the anti-aging market globally. Thus, with the increasing awareness and adoption of anti-aging solutions, there is a potential market for anti-aging devices and aesthetic plastic surgery procedures over the forecast period. However, stringent regulatory policies for the devices and social stigma in some populations are expected to hinder the market growth over the forecast period.

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Key Market Trends

Anti Stretch Mark and Anti-Wrinkle Products Are Projected to Have Significant Growth Over the Forecast Period

Stretch mark develops when the skin stretches or shrinks quickly. The abrupt change causes collagen and elastin, which support the skin to rupture. Aging is a primary factor for stretch marks. Also, rapid weight loss or gain and pregnancy are the most common reasons leading to stretch marks. The growing demand for the anti-stretch mark products due to the increasing incidence of obesity, particularly among the older population, and the increasing focus of major companies towards the launch of advanced devices and products for the treatment of stretch marks is anticipated to boost the segment growth. For instance, in January 2018, New York-based pregnancy brand Hatch launched a belly mask that provides hydration and helps minimize stretch marks. ​In November 2019, Hope Smith, a US model launched her own skincare brand MUTHA, with two products that help pregnant women treat their stretch marks.

The COVID-19 pandemic is expected to slightly impact the studied segment as most of the aesthetic and cosmetic procedures were considered as elective and were deferred to reserve the hospital resources in the treatment of COVID-19 patients, along with aim of minimizing the risk of exposure of patients receiving anti-aging treatment to SARS-CoV2 viral infection. However, research on utilizing few anti-aging drugs in the treatment of COVID-19 infection is being carried out by few researchers. For instance, according to the research article published in Aging 2020, anti-aging drugs such as Rapamycin and Doxycycline were suggested for the treatment of COVID-19 infection as these drugs can inhibit protein synthesis by blocking viral replication.

On the other hand, anti-wrinkle products are also anticipated to witness a notable growth rate owing to growing awareness regarding the availability of products and the increasing older population. For instance, In Nov 2020, SofWave Medical secured CE Mark for its next-generation Sofwave system which was approved for use for the treatment of fine lines and wrinkles in the European Union. Thus, owing to all the aforementioned factors, the market is expected to grow significantly over the forecast period.

North America is Expected to Hold the Largest Share in the Anti-aging Market During the Forecast

North America's anti-aging market is projected to have significant market growth owing to the availability of the well-established infrastructure, presence of key market players, and increasing average life expectancies and the median age in the region.

The anti-aging market is predicted to exhibit a relatively slower trend during the COVID-19 pandemic compared to the non-COVID-19 period. According to the research article published in the Journal of the American Academy of Dermatology, 2020, there was a significant reduction in the search volume Index related to cosmetic procedures from 71.8 to 45.1 during the COVID-19 pandemic.

However, the growing adoption of anti-aging products and cosmetic procedures coupled with the favorable reimbursement policies are anticipated to bolster the regional growth over the forecast period.

Moreover, companies in the region are actively focusing on strengthening their market position through R&D and new product launches. In Feb 2019, Lutronic Aesthetic received the US FDA clearance of the Lutronic Genius platform, which is used in precise coagulation and results in regeneration of collagen and elastin, improving scars, skin texture, wrinkles, and laxity anywhere on the body. Thus, in view of the aforementioned factors, the studied market is expected to grow significantly in North America.

Competitive Landscape

There is huge competition in the anti-aging market due to the presence of many domestic and international market players. Most of the market players are adopting various growth strategies, such as acquisitions, partnerships, and new product launches, in order to secure their position in the market.

For instance, in December 2019, Estee Lauder Companies, Inc., acquired Have & Be Co. Ltd., the Seoul-based, global skincare company that brands Dr. Jart+ and men’s grooming products named Do The Right Thing. In September 2018, Syneron Medical Ltd. acquired Ellipse A/S, a company that manufactures and markets laser-based and intense pulse light (IPL) platforms for different types of medical and aesthetic skin treatments.

Some of the key market players in the anti-aging market are L’Oréal, Unilever, Estee Lauder, Beiersdorf, and Shiseido among others.

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Issued By Statzy Market Research
Country India
Categories Health
Tags antiaging market , antiaging market forecast , antiaging market share , antiaging market size
Last Updated April 26, 2021