Anti-ageing Market Foreseen to Grow Exponentially at 8.0% CAGR Over 2015-2019
Generation X will continue to remain the largest consumers of anti-ageing products and services, followed by baby boomers in terms of revenue share contribution. This demographic is expected to consume US$ 55.7 Bn worth of anti-ageing products and services in 2016-a y-o-y growth rate of 6.8%.
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By products, anti-wrinkle products will continue to be the largest segment, contributing US$ 77.7 Bn to global revenues in 2016. Hair colour will remain the second largest segment, whereas dermal fillers will witness the highest y-o-y growth in 2016 over 2015. Hair restoration treatment will remain the most-after anti-ageing service, representing 43.8% revenue share on the basis of services.
By devices, radio frequency devices will maintain its top position in 2016 as well, representing a revenue share of 64.5%. This segment is expected to witness a year-over-year growth of 11.5% in 2016 and reach US$ 1.2 Bn in revenues. On the other hand, anti-cellulite treatment devices will witness the year-over-year growth in 2016, growing at 19.3% in 2016.
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U.S.’s dominance of the global anti-ageing market will continue in 2016, and this in turn, will fuel the growth of the North America anti-ageing market. The region has been the hotbed of advances in cosmetology and dermatology, and has a high proliferation of anti-ageing products and services. The baby boomer and Generation X demographic in North America has been overly receptive to new products and services that mask the signs of ageing. These factors will continue to fuel the anti-ageing market in North America, with total revenues expected to reach US$ 51,987.4 Mn in 2016. The other lucrative markets for anti-ageing products and services are Europe and Asia Pacific.
Leading players in the global anti-ageing market include Allergan, Inc., L’Oreal SA, Solta Medical, Inc., Cynosure, Inc.
Long-term Outlook: The global anti-ageing market is anticipated to increase at a CAGR of 8.0% during the forecast period 2015–2019. North America will remain the largest market throughout the forecast period, whereas anti-wrinkle products will continue to be the most sought-after product for anti-ageing.
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