Elevated Geriatric Population Augments the Global Antiaging Market With 7.87% of CAGR by 2027
“According to the new market research report published by Inkwood Research, the Global Antiaging Market is growing at 7.87% of CAGR over the forecast period of 2019-2027.”
“Browse 44 market Data Tables and 51 Figures spread over 130 Pages, along with an in-depth TOC on Global Antiaging Market forecast 2019-2027.”
The global anti-aging market is going through tremendous development, primarily attributable to two major advancements, including innovation in technology and improvement in anti-aging treatments and upgradation in products. In today’s world, the market progression is driven by critical drivers such as awareness of aging signs, increase in obesity among population and rise in sedentary lifestyle. Geriatric population is the largest consumer segment as it undergoes various skin disorders, like age spots, infections, wrinkles, dark circles and many more that are aimed to be reversed or prevented by antiaging treatments & procedures.
Every region across the globe is encountering proportional growth in their older population. Risen life expectancy and reduction in fertility are the contributing aspects for the aging population growth. The majority of aging population undergo a lot of aging problems, which can be overcome by using anti-aging products, services and devices. According to National Institute of Health (NIH), USA, the total geriatric population across the globe in 2016 was over 622 million that is anticipated to reach over 793 million by 2022. Moreover, increasing beauty consciousness among people, coupled with increasing skin problems, is an additional crucial factor, allocating the market share across the geographies.
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Growing awareness among the individuals about hair and rapid rise in hair loss condition across the globe is proliferating the growth of the hair restoration procedure. As per the Social Issues Research Centre (SIRC), men with age group 45 to 55 years are expected to be most dissatisfied with their appearance, including, their rapid hair loss. Thus, adoption of hair restoration technologies is increasing across the globe. Moreover, as per International Society of Hair Restoration Surgery (USA), 635,189 surgical hair restoration procedures were performed in 2016, showing an increase of 60% over the period of 2014-2016. Thus, the increasing number of hair restoration procedures is expected to create an affluent opportunity for anti-aging products.
North America to Hold the Largest Share in the Global Antiaging Market
North America is dominating the global anti-aging market in terms of revenue, contributing the highest share of around 36% in 2018. This dominance of the region is backed by the existence of the top companies that are offering updated and exclusive products and services in the region. Moreover, risen disposable income of the population in the region is expected to wildly boost the adoption of anti-aging products and treatments in the region, which will positively affect the global antiaging market.
Few of the eminent players in the market involve Cynosure Inc. (U.S.), L’Oréal S.A. (France), Olay (U.S.), Australia Pvt Ltd (Sydney), Revlon (U.S.) and others. Inkwood Research has estimated that a number of startups around the world are focusing on developing innovative anti-aging solutions. These companies are majorly involved in the research and development of anti-aging solutions. Among all, the United States has observed the highest number of startups engaged in anti-aging solutions, and most of it has received substantial funding for further research and development.
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Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy; with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises of North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.