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.
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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