Geriatric Population Using Anti-Aging Products to Manage Aging Signs

The United Nations Population Fund (UNFPA) estimates that by 2045–2050, newborns are expected to have a life expectancy of 74 years in developing countries and 83 years in developed countries. The UNFPA forecasts that the global population of people aged 60 years and above will reach around 2 billion by 2050. As old age is related to the reduction of skin stem cells and fibrous tissues, the aging population creates a huge requirement for anti-aging products. Aging-related issues include dryness, skin sagging, wrinkles, and pigmentary alteration, which can be treated or managed through anti-aging products.

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Additionally, the increasing customer awareness on the available products through conferences and seminars will drive the anti-aging market at a CAGR of 8.6% during the forecast period (2021–2030). The market was valued at $194.4 billion in 2020, and it is projected to generate $422.8 billion revenue by 2030. Market players across the world are increasingly organizing exhibitions, seminars, and conferences to impart knowledge on the advancements in anti-aging treatments among the general public, students, and plastic surgeons.

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The treatment segment of the anti-aging market is classified into liposuction, anti-pigmentation, chemical peel, breast augmentation, hair restoration, adult acne therapy, and others. Among these, the hair restoration category is projected to demonstrate the fastest growth throughout the forecast period. This will be due to the growing prevalence of baldness and hair fall among young men and women. Hair loss or alopecia can be caused due to hormonal changes, aging, or medical conditions. This disease is extremely common in the male population.

Therefore, the growing geriatric population and escalating public awareness on skin and hair treatments will fuel the adoption of anti-aging products globally.

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