Year 12 | 20 January 2020 | email@example.com
The anti-aging market is poised for a healthy compounded annual growth rate of 7.8% between 2013 and 2019
The global anti-aging market was estimated to be worth USD 122.3 billion in 2013, and is likely to record a strong growth over the forecast period.
The report features detailed analyses of the potential growth drivers in this market—the Baby Boomers generation that comprises individuals born between 1946 and 1964, which is now aging and showing a greater inclination towards anti-aging products and services. Aging is brought about by a cycle of various biochemical processes in the body that affect it both internally and externally. These biochemical processes cause the body to degenerate over a period of time, impacting the health, fitness and beauty of an aging individual.
The prevalence of anti-aging products and services is becoming more prominent now as the aging Baby Boomers—regarded as the most successful generation born in the 20th century—have spurred a demand for various methods that can either reverse or slow the signs of aging. Estimates indicate that over the next 18 years, individuals from this generation will attain the age of 65 at the rate of 8,000 per day.
While anti-aging products have gained wide acceptance as they can often be purchased off the shelf or with a prescription and are relatively affordable. However, this is not the case with anti-aging services and devices. The anti-aging services market is further categorized into the cosmetic surgery segment and the non-invasive treatment segment—these are dependent on plastic surgeons, qualified medical practitioners, and certified beauticians.
The Transparency Market Research report states that the anti-aging market is projected to grow at a 5% CAGR over the forecast period of 2013 to 2019. The report further states that in terms of revenue, the market for anti-aging products is the largest and presents multiple opportunities for the introduction of novel anti-aging products that are regarded as being highly efficient and safe to use.
However, there are certain areas of concern within this market. For instance, the market is still regarded as being in its evolutionary phase, and the products and services within it are often met with skepticism by consumers. However, these factors have been mitigated to some extent thanks to demonstrated advancement of technologies and the introduction of stringent regulations for these products. This has reinstated the trust of consumers to a great extent.
Further, the report by Transparency Market Research segments the Global Anti-Aging Market geographically, analyzing each geographical segment and its potential in detail. According to the report, two regions that carry maximum potential in this segment over the period of forecast are—Asia-Pacific and Rest of the World (RoW). Within the Asia-Pacific region, India, China, Japan and South Korea are poised to attract maximum interest for anti-aging or age-reversing procedures such as cosmetic surgeries, further supported by the respective governments of these nations.
by S. C.
07 april 2014, Food & Fun > Business