As stated in our extensive report; providing insights Key Drivers, Key Restraints, Segments (i.e.,Product, Treatment, Demography and Region); the Global Anti Aging Market accounted for USD 59.1 Billion in the year 2021.
“Key Factors Likely to Drive Growth of Anti Aging Market”
Anti-aging is the process of becoming older. This term is mainly offered to humans because they get old with age. Furthermore, anti-aging is associated with dynamic changes in the biological, psychological, physiological, environmental, behavioral, and social processes. This biochemical process causes the body to degenerate over some time, impacting the health, skin, and physical appearance of the individual. Today, fitness and a good personality have become a necessity and the path to success in many different areas of life. As a result, anti-aging products and devices are used by consumers to look young and fit. The primary noticeable signs of skin aging are fine lines and wrinkles.
Due to a rise in the consumer demand for anti-aging products and devices, the increase in lifestyle standards and income among the population across the world is the major factor driving the growth of the market. Along with that, the advancement in technology is also a crucial factor for the growth of the market.
The COVID-19 pandemic harmed this market. Due to government restrictions and lockdown across the world, people had no option but to remain locked in. Because of this, the consumption of anti-aging products has decreased drastically.
The major challenge to the market is the high prices. These anti-aging products and devices are very costly. Not every consumer can buy these types of products and devices. In addition, the low trust factor among the customers regarding these types of new anti-aging products & services also impacts negatively in the future.
North Americaheld the largest market share in 2021 owing to the availability of the well-established infrastructure, presence of key market players, increasing average life expectancies, and the median age in the region.
Some of the key players in the GlobalAnti Aging Marketinclude-The Procter & Gamble (P&G) Company, Nu Skin Enterprises Inc., Hologic Inc., Unilever Group, Pierre Fabre S.A., Galderma S.A., Shiseido Company Limited, Candela Corporation, Home Skinovations Ltd., Allergan PLC, The Estée Lauder Companies Inc., LightStim, Spectrum Brands Holdings Inc., Project E Beauty, Jeisys Medical Inc., Cyden Limited, FOREO AB, Koninklijke Philips N.V., Amorepacific Corporation, Beauty Bioscience Inc and others.