The global anti-aging market generated a revenue of $XX billion in 2018 and is projected to reach $ 344.89 billion by 2027, at a CAGR of 7.87%
NEW YORK, March 25, 2019 /PRNewswire/ -- KEY FINDINGS
The accumulation of changes in a human being over time, such as physical, psychological, and social changes are generically termed under aging. The biochemical reactions occurring within the system can be responsible for the accumulation of the changes throughout the years.
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The global anti-aging market generated a revenue of $XX billion in 2018 and is projected to reach $ 344.89 billion by 2027, at a CAGR of 7.87%. The base year considered for the market study is 2018 and the forecasted period is between 2019 and 2027.
MARKET INSIGHTS
The market is expected to pick up gradual prominence in the forecasting years primarily due to the rising geriatric population that undergoes from several skin-related complications such as wrinkles, age spots, dry skin and itching, bruises, facial movement lines, infections, etc. over the years.
The Anti-wrinkles accounted for the largest share in products segment with 40.39% market share in 2018. Adoption of anti-wrinkle products for defying aging effect and increasing investment in the segment is expected to drive the adoption of anti-wrinkles products and services.
REGIONAL INSIGHTS
Geographically, the global anti-aging market has been segmented on the basis of four major regions, which are North America, Asia Pacific, Europe and the Rest of World.
The dominance of North America region on the global market is attributed to the fact of the presence of the majority of the key players that are offering their services and products in the region.
COMPETITIVE INSIGHTS
L'oréal S.A., Syneron Candela, Lutronic Corporation, Allergan Australia PTY Ltd., Personal Microderm, Alma Laser Inc. (acquired by Fosun Pharma), Avon Products, Inc., Coty Inc., Solta Medical (Valeant Pharmaceuticals), Lumenis Ltd. (acquired by Xio), Revlon, Cynosure (acquired by Hologic), Photomedex, Inc. (acquired by Radiancy, Inc.), Olay (acquired by Procter & Gamble) and Beiersdorf (acquired by Tchibo Holding AG) are the major companies operating in the global market. Most of the mentioned companies employ strategies such as that of mergers & acquisitions, partnerships, contracts, agreements, & new product launches, to gain a competitive edge over their counterpart companies.
Companies mentioned
1. ALLERGAN AUSTRALIA PTY LTD.
2. ALMA LASER INC. (ACQUIRED BY FOSUN PHARMA)
3. AVON PRODUCTS, INC.
4. BEIERSDORF (ACQUIRED BY TCHIBO HOLDING AG)
5. COTY INC.
6. CYNOSURE (ACQUIRED BY HOLOGIC)
7. L'ORÉAL S.A.
8. LUMENIS LTD. (ACQUIRED BY XIO)
9. LUTRONIC CORPORATION
10. OLAY (ACQUIRED BY PROCTER & GAMBLE)
11. PERSONAL MICRODERM
12. PHOTOMEDEX, INC. (ACQUIRED BY RADIANCY, INC.)
13. REVLON
14. SOLTA MEDICAL (VALEANT PHARMACEUTICALS)
15. SYNERON CANDELA
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