The global anti-aging market is growing significantly due to upsurge in geriatric population and innovation of effective and technologically advance anti-aging products and devices. According to the World Health Organization, the population of 60 years and above is expected to rise to 15% in 2050; thus it would show immense inclination towards the anti-aging products and services, which further propels the growth of anti-aging products and devices in market. The unexplored market in anti-aging industry of developing economies is creating abundant opportunities for the anti aging market to grow at a considerable rate during the projected years. In addition, the advanced research and development facilities, and innovative product developments by the companies are propelling the growth of the anti-aging industry.
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Aging is caused due to biomedical changes in the body. It can be natural aging or extrinsic aging. Natural aging is caused due to natural processes, such as reduced collagen and elastin production, declined cellular regeneration, and reduced exfoliation, leading to thinning and sagging of skin, hyperpigmentation, age spots and dry skin. Whereas extrinsic aging is caused due to ultraviolet exposure for long duration, alcohol consumption, and poor diet such as lack of antioxidants vitamins. Advancement in plastic surgery, cosmetology and dermatology are increasing the ways to mask aging signs.
The anti-aging market is categorized on the basis of products, services and devices. On the basis of products, the market can be categorized as anti-wrinkle products, hair color, anti-stretch mark products, and UV absorbers. Anti-wrinkle products are further segmented on the basis of type as dermal filters, and botox. The anti-aging products lead the market in terms of revenue, due to increasing efficacy and safety of anti-aging products.
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Some of the companies operating in the global anti-aging market are Cynosure, Allergan Inc., Beiersdorf AG, Coty Inc., L’Oreal SA, Alma Laser, Solta Medical Inc., Personal Microderm, Photomedex, and Lumenis.
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