Asia, Europe, and South America Anti-aging Market to Expand at a Rapid CAGR of 9.30% from 2014 to 2022
As per the report, the anti-aging market in Asia, Europe, and South America is majorly fuelled by the increasing number of baby boomers, thus increasing the demand for various methods of curbing and reversing the prominent signs of aging. The market is continuously growing and a number of products, devices, and services have entered the market in recent years due to the consistent demand to lessen the signs of aging. Amongst these, in 2013, the anti-aging products held the biggest share in the anti-aging market due to increasing awareness amongst people and the economical prices of these products.
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On the basis of product type, the market is segmented into dermal fillers, UV absorbers, botox, anti-stretch products, anti-wrinkle products, and hair color. Amongst these, in 2013, anti-wrinkle products held the biggest share in the anti-aging products market in Asia. The anti-wrinkle product segment stood at more than US$8.1 bn in Asia in 2013. This is due to the broad range of anti-wrinkle products available in the market and the rising awareness owing to a number of promotional campaigns held in Asia. Anti-wrinkle products also held the largest share in Europe in the same year. The demand for these products is high in European countries owing to their increasing availability at economical prices.
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On the basis of service, the market is segmented into anti-adult acne therapy, anti-pigmentation therapy, liposuction, chemical peel, abdominoplasty, hair restoration therapy, sclerotherapy, and eyelid surgery. The anti-aging services market is expanding swiftly in Europe on account of the rising disposable income of consumers owing to ongoing recovery from the economic crisis in Europe. Within Europe, the anti-aging services market in Italy held the biggest share in 2013 owing to increasing demand for hair restoration treatments and breast augmentation. The anti-aging services market is predicted to record the highest growth rate in Spain in the forecast horizon due to the rising aging population and the increasing prevalence of obesity.
On the basis of device type, the market is segmented into microdermabrasion devices, anti-cellulite treatment devices, radio frequency devices, and laser aesthetic devices. Anti-aging devices are the most prevalent in South American countries. Radiofrequency devices and laser aesthetic devices held the biggest share in South America, especially in Brazil, due to their high effectiveness and safety.Alma Laser Ltd., Allergan, Inc., Beiersdorf AG, Cynosure, Inc., Coty, Inc., L’Oréal SA, Valeant Pharmaceutical International, Inc., Solta Medical, Inc., and PhotoMedex, Inc., among others, are the major players dominant in the market.
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