Prominent players operating in the global anti-aging market include Allergan Inc., L’Oreal, SA, Cynosure Inc., Alma Lasers Ltd, Solta Medical Inc., Beiersdorf AG, Coty Inc., Personal Microderm, Lumenis Ltd., and Photomedex Inc., finds Transparency Market Research (TMR). A growing number of players are offering clinically tested products and advanced formulations, in order to gain a firm foothold in the market. Top players are focusing on bringing technological advancement in the anti-aging treatment products and services to consolidate their positions.
The global anti-aging market is projected to rise at a steady CAGR of 7.8% during the forecast period of 2013–2019. The global market is anticipated to reach a worth of US$191.7 billion by the end of 2019; the market was valued at US$ 122.3 billion in 2013.
The demographics demanding anti-aging products, devices, and services comprise baby boomers, generation X, and generation Y. Of these, baby boomers (born during 1946–1964) is the dominant segment. This is attributed to the large disposable incomes the cohort has. Over the years, the demographic cohort will continue contributing substantial revenues to the market.The various regional markets comprise North America, Asia Pacific, Europe, and the Rest of the World. Of these segments, North America is currently the leading market for anti-aging driven by extensive demand for such products and services. This can be attributed to widespread awareness of ant-aging treatments among health-conscious people across the region.
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Rapid rise in Aging Population catalyzing Market Growth
The notably rising demand for products and services for slowing aging and countering its effects is a key factor driving the ant-aging market. The growing demand for these products among people in emerging and developed nations for rejuvenating skin is also boosting the market. In addition, among generation X the rising popularity of anti-aging services is also accentuating the growth of the market.