Anti-Aging Products Services and Devices Market Soars to US$109.8 Billion by 2033 with a Resilient 5.5% CAGR | FMI Insights

The demand for anti-aging products, services, and devices is projected to steady growth at a 5.5% Compound Annual Growth Rate (CAGR) from 2023 to 2033. In 2022, the global market for anti-aging products, services, and devices was estimated to be valued at approximately US$ 59 billion. Future Market Insights (FMI) anticipates that the revenue in the anti-aging market will surge from US$ 64.0 billion in 2023 to an impressive US$ 109.8 billion by 2033.

The contemporary emphasis on maintaining a youthful appearance has spurred a robust interest in anti-aging products, services, and devices across the globe. A wide range of consumers, spanning various age groups, who are increasingly self-conscious about their physical appearance, is driving this trend. The cosmetics and skincare industry is capitalizing on this heightened awareness to cater to the growing demand for anti-aging solutions.

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 However, the growth prospects of the anti-aging products, services, and technologies industry are likely to remain strong as millennials and baby boomers prioritize keeping youthful and young. According to FMI, the North American market will generate around US$ 53,987.4 million in revenue by 2021.

Growing demand for anti-wrinkle treatment and anti-cellulite treatment across the U.S., India, the UK, and Germany have propelled the market growth.

Increasing demand for clinically evidenced ingredients is boosting non-invasive anti-aging cosmetic procedures.

As per the FMI's analysis, the anti-aging products, services, and devices market across the U.S. and the UK is anticipated to expand at an impressive rate during the forecast period.

The growing prevalence of skin disorders such as atopic dermatitis, melanoma, and non-melanoma skin cancer will improve the adoption of anti-aging treatments.

Rising awareness regarding skincare routine and growing urgency to have younger skin has amplified the sales of products rich with retinol, moisturizers, and dermal fillers reducing wrinkle lines among women.

Another key factor responsible for growing revenues in the anti-aging market is promotion and advertisements featuring celebrities to endorse the products and treatments.

As such, key players are adopting different strategies to boost their revenue generation, fueling the market growth.

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>Key Takeaways from FMI's Anti-Ageing Products, Services, and Devices Market Study

-In terms of application, anti-wrinkle treatment is anticipated to be the largest segment in terms of revenue
-Anti-cellulite treatment will witness robust growth owing to the increasing number of people undergoing this procedure across the U.S. and the UK
-The U.S. is anticipated to register high demand, leading the North American market over the forecast period
-The UK and France will witness steady growth owing to the increasing aging population and rising prevalence of skin disorders in the region
-Driven by increasing demand of anti-aging products among the aging population, Germany recorded notable growth, accounting for 15% of the global market share
-India is anticipated to emerge as a lucrative market backed by the high demand for cellulite treatment and chemical peels in the country

>Competitive Landscape

Prominent players in the market are focusing on strategic mergers and collaboration to expand their global footprint in the market.

New product launches coupled with increasing research & development activities for developing advanced anti-aging products & devices will also be a key strategy to enhance their customer base for market players.

For instance, in December 2020, Devonian Health Group, a global clinical-stage botanical pharmaceutical corporation, announced the launch of R-Spinasome anti-aging technology global sales and marketing partnerships.

Also, in January 2021, Aptar Beauty announced the development of its first airless roll-on capsule for LightinDerm Skincare Device.

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>Anti-Ageing Products Services and Devices Market by CategoryBy Application:

-Anti-Pigmentation Therapy
-Anti-Cellulite Treatment
-Anti-Wrinkle Treatment
-Acne Management
-Scar Treatment
-Others

>By Product Type:

-Creams
-Moisturizers
-Retinols
-Dermal Fillers
-Botulinum Toxin
-Chemical Peels
-Cellulite Treatment
-Non-Surgical Fat Reduction
-Others

>By Distribution Channel:

-Dermatology Clinics
-Hospitals, Pharmacies, Drugstores
-Rejuvenation Centers
-Others

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.