The "Anti-aging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Anti-aging Market is valued at approximately USD 44,124 million in 2020 and is expected to witness a revenue of USD 64,043 million in 2026, with a CAGR of 6.1% over the forecast period.
Procter & Gamble Company
Estee Lauder Companies
Koninklijke Philips NV
Bausch & Lomb Incorporated (Solta Medical)
Key Market Trends
Anti Stretch Mark and Anti-Wrinkle Products Are Projected to Have Significant Growth Over the Forecast Period
Stretch mark develops when the skin stretches or shrinks quickly. The abrupt change causes collagen and elastin, which support the skin to rupture. Aging is a primary factor for stretch marks. Also, rapid weight loss or gain and pregnancy are the most common reasons leading to stretch marks. The growing demand for the anti-stretch mark products due to the increasing incidence of obesity, particularly among the older population, and the increasing focus of major companies towards the launch of advanced devices and products for the treatment of stretch marks is anticipated to boost the segment growth. For instance, in January 2018, New York-based pregnancy brand Hatch launched a belly mask that provides hydration and helps minimize stretch marks. ?In November 2019, Hope Smith, a US model launched her own skincare brand MUTHA, with two products that help pregnant women treat their stretch marks.
The COVID-19 pandemic is expected to slightly impact the studied segment as most of the aesthetic and cosmetic procedures were considered as elective and were deferred to reserve the hospital resources in the treatment of COVID-19 patients, along with aim of minimizing the risk of exposure of patients receiving anti-aging treatment to SARS-CoV2 viral infection. However, research on utilizing few anti-aging drugs in the treatment of COVID-19 infection is being carried out by few researchers. For instance, according to the research article published in Aging 2020, anti-aging drugs such as Rapamycin and Doxycycline were suggested for the treatment of COVID-19 infection as these drugs can inhibit protein synthesis by blocking viral replication.
On the other hand, anti-wrinkle products are also anticipated to witness a notable growth rate owing to growing awareness regarding the availability of products and the increasing older population. For instance, In Nov 2020, SofWave Medical secured CE Mark for its next-generation Sofwave system which was approved for use for the treatment of fine lines and wrinkles in the European Union. Thus, owing to all the aforementioned factors, the market is expected to grow significantly over the forecast period.
North America is Expected to Hold the Largest Share in the Anti-aging Market During the Forecast
North America's anti-aging market is projected to have significant market growth owing to the availability of the well-established infrastructure, presence of key market players, and increasing average life expectancies and the median age in the region.
The anti-aging market is predicted to exhibit a relatively slower trend during the COVID-19 pandemic compared to the non-COVID-19 period. According to the research article published in the Journal of the American Academy of Dermatology, 2020, there was a significant reduction in the search volume Index related to cosmetic procedures from 71.8 to 45.1 during the COVID-19 pandemic.
However, the growing adoption of anti-aging products and cosmetic procedures coupled with the favorable reimbursement policies are anticipated to bolster the regional growth over the forecast period.
Moreover, companies in the region are actively focusing on strengthening their market position through R&D and new product launches. In Feb 2019, Lutronic Aesthetic received the US FDA clearance of the Lutronic Genius platform, which is used in precise coagulation and results in regeneration of collagen and elastin, improving scars, skin texture, wrinkles, and laxity anywhere on the body. Thus, in view of the aforementioned factors, the studied market is expected to grow significantly in North America.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Beauty Consciousness in Increasing Aging Population
4.2.2 Easy Accessibility of Products and Services
4.3 Market Restraints
4.3.1 Stringent Regulatory Policies and Side Effects Associated With the Products
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Type
5.2 By Application
5.3.1 North America
5.3.4 Middle East and Africa
5.3.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/ky5zjd.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210414005847/en/
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