The global anti-aging services market size is likely to reach USD 35.43 billion by 2026, according to a new report by Grand View Research, Inc., progressing at a CAGR of 5.3% during the forecast period. Growing aging population along with increasing life expectancy has created a high demand for anti-aging solutions. According to 2017 data revision of the World Population Prospects, the proportion of population aged 60 and over is poised to grow by more than two times by 2050 and by more than three times by 2100, increasing from 962 million in 2017 to 2.1 billion by 2050. Hence, the demand for management of anti-aging products is projected to grow rapidly.
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The U.S. FDA has approved dermal fillers manufactured from absorbable or temporary material and indicated the correction of moderate to severe skin folds and wrinkles, while permanent dermal fillers have been approved only for the correction of nasolabial folds and cheek acne scars in population over the age of 21. In addition, FDA approved silicone gel-filled and saline-filled type of breast implants, which have the same silicone outer shell. They vary in shell thickness, size, shape, and shell surface texture.
Further Key findings from the study suggest:
- Based on type, the anti-aging services market has been categorized into microdermabrasion, breast augmentation, liposuction, chemical peel, sclerotherapy, intense pulsed light, Botox, dermal fillers, and others
- Botox injections are likely to witness the fastest growth over the forecast period from 2019 to 2026
- Based on demographics, the market has been divided into baby boomers, generation X, and generation Y. Generation X population held the leading position in the market in 2018 in terms of revenue
- North America dominated the market in 2018 due to widening base of generation Y, who are more concerned about beauty, wellness, and physical appearance
- Developing countries are attracting international patients by developing state-of-art facilities and are offering good quality anti-aging procedures at lower costs. Such price differences play a significant role in the adoption of elective procedures
- Allergan, Inc.; Beiersdorf AG; Cynosure; Lumenis; Solta Medical, Inc.; Procter & Gamble; Estee Lauder, Inc.; and Elizabeth Arden are some of the key players in the anti-aging services market.