According to a new market study published by Transparency Market Research, the Asia, Europe, and South America anti-aging market will log a CAGR of 9.3% from 2014 to 2020. As a result, the market’s valuation of US$15.28 bn in 2012 will increase to US$30.92 bn by 2020. The report, titled “Asia, Europe, and South America Anti-aging Market - Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020,” is available for sale on the company’s website.
Aging is a natural phenomenon that occurs as a living being becomes older. Aging can refer to either a single cell in organisms or can refer to the population of a species. As more consumers lay increased emphasis on maintaining a youthful appearance, cosmetologists and healthcare experts are striving to find solutions to restore younger looks and defy the signs of aging.
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Presently, the rising awareness among individuals to look healthy and beautiful is primarily driving the anti-aging market globally. Moreover, an increasing geriatric pool in Europe that gives high importance to younger looks and aesthetics is driving this regional market for anti-aging products and services. In addition, the increasing awareness about the signs of aging in generation X and generation Y is supporting growth of the anti-aging market.
The easy availability of a large number of products for varying anti-aging needs, which are also affordable, is also propelling the growth of the anti-aging market in Europe, South America, and Asia. On the other hand, the presence of a large number of players is preventing the emergence of a clear leader in the market and causing fragmentation in revenues.
On the basis of product, anti-wrinkle products represented the largest segment in Asia in 2013. The availability of a large range of anti-wrinkle products and rising awareness resulting from promotional campaigns are the primary factors fueling the demand for these products in Asia. Grey hair and wrinkles are among the most common signs of aging and start appearing around 30 years of age. As 40% of the Asian population falls within the 25 to 50 years bracket, the demand for anti-wrinkle products is steep in this region. Likewise, the anti-wrinkle product segment led the Europe anti-aging products market in 2013. This is mainly due to the high awareness among individuals about the availability of anti-wrinkle products marketed under various brand names.
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In 2013, in Europe, laser aesthetic devices stood as the largest device segment due to their efficacy. Moreover, the permanent nature of laser procedures combined with an extensive demand for cost-effective portable devices augurs well for laser aesthetic devices. In 2013, laser aesthetic devices led the Asia ant-aging devices market as well. In the 2014-2020 period, the increasing obese population, higher demand for anti-cellulite devices due to their non-invasive nature, and preference for portable devices will fuel the growth of the laser aesthetic devices market.
Some of the top companies operating in the Asia, Europe, and South America market for anti-aging are Allergan Inc., Beiersdorf AG, Cynosure Inc., Lumenis Ltd., Personal Microderm, Alma Lasers Ltd., Coty Inc., L'Oreal SA, PhotoMedex Inc., and Solta Medical Inc.
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