Market Highlights:
Increasing elderly population, growing desire to stay young
is one of the most important factors that drive the growth of the anti-aging
services market. According to the world health organization (WHO), the
proportion of the world's population over 60 years between 2015 and 2050 will
nearly double from 12% to 22%. Further, as per WHO estimates by 2020, the
number of people aged 60 years and older will outnumber children younger than 5
years and by 2050, 80% of older people will be living in low- and middle-income
countries. Besides that, factors such as growing demand for anti-aging drugs
and services, the influence of media and fashion industry, increasing
disposable income, growing awareness about the aesthetical industry are driving
the market for anti-aging services.
On the other hand, the high cost of some of the procedures,
and potential side effects of the anti-aging treatments are some of the factors
that thwart the growth of the anti-aging services market to an extent.
Global Anti-aging Services Market held a market value of USD
21.39 billion in 2017 and is projected to grow at a CAGR of 5.47% over the
forecast period.
Regional Analysis:
Geographically, the Americas is anticipated to dominate the
global Anti-aging Services Market owing to the well-developed healthcare
infrastructure, high disposable income, high awareness about the body
aesthetics, and increasing adoption of the anti-aging services by people in the
US. Moreover, the huge influence of the fashion and film industry in the US has
played an important role in generating demand for the beauty and aesthetic
services including anti-aging. All these factors are responsible for the growth
in the region.
Europe is expected to hold the second largest market share
in the global Anti-aging Services Market. The market growth in this region is
majorly attributed to the growing popularity of aesthetic treatments, a high
number of old age people, and increasing acceptance of anti-aging treatments in
the region. Similarly, the Asia-Pacific region has observed a rapid growth in
the anti-aging services market owing to the growing disposable income and
demand for cost-effective anti-aging service. Besides, increasing
beauty consciousness in developing countries and rapidly
growing medical tourism industry is also expected to generate growth
opportunities in the untapped markets of the Asia-Pacific region. The Middle
East & Africa region is anticipated to show minor growth opportunities in
the anti-aging services market during the forecast period.
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Segmentation:
The global anti-aging services market has been segmented
into type of service and service provider.
Based on type of service, the market has been segmented into
microdermabrasion, breast augmentation, liposuction, chemical peel,
sclerotherapy, intense pulsed light, Botox treatment, dermal fillers, and
others. The microdermabrasion segment is expected to account for the largest
share in the global anti-aging services market in 2017. This large share is
majorly attributed to the wider acceptance of the procedure, increasing
acceptance in different regions, better patient compliance and better results
as compared to other services. Liposuction segment is projected to hold the
second largest market during the forecast period of 2018 to 2023.
Based on service providers, the market has been segmented
into hospitals, dermatology clinics, salons, and others. The dermatology
clinics segment is expected to account for the largest share in the global
anti-aging services market in 2017 followed by hospitals segment. The major
share of the dermatology clinics is mainly attributed to the wide range of
anti-aging services provided by these specialty clinics and
Based on the regions, the market for hair removal devices is
segmented into, the Americas, Europe, Asia-Pacific, and the Middle East &
Africa. The Anti-aging Services Market in the Americas region has further been
segmented into North America and Latin America, where-in the North American
market is further divided into the US and Canada.
European Anti-aging Services Market has been segmented into
Western Europe and Eastern Europe where-in Western Europe region is further
divided into Germany, France, the UK, Italy, Spain, and the rest of Western
Europe.
The Anti-aging Services Market in Asia-Pacific has been
segmented into Japan, China, India, South Korea, Australia, and the rest of
Asia-Pacific. The Anti-aging Services Market in the Middle East & Africa
has been segmented into regions such as the Middle East and Africa.
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Key Players:
Some of the prominent players in the global anti-aging
services market are Allergan Inc., Alma Lasers, Beiersdorf AG, Cutera Inc.,
Cynosure Inc., Elizabeth Arden, Estee Lauder Inc., Lumenis, Procter &
Gamble, Solta Medical Inc., and others.
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