Global Anti-aging Services Market Grows Steadily at a CAGR of 5.25%

Introduction

"Anti-aging services" typically refer to diverse treatments, products, and activities specifically formulated to slow down or regress the external and internal aging process. In addition, it includes non-invasive aesthetic procedures that have been developed with the specific purpose of reducing or reversing the observable consequences of aging, such as the appearance of fine lines, wrinkles, sagging skin, irregular skin tone, and diminished facial volume. It is imperative to recognize that specific anti-aging programs may place greater emphasis on cosmetic improvements, whereas others may prioritize lifestyle adjustments, pharmaceutical interventions, or holistic approaches.

Market Dynamics

Increasing Aging Population Worldwide Drives the Global Market

The rising percentage of elderly people significantly contributes to expanding the anti-aging services industry. The demand for a diverse array of anti-aging treatments, encompassing skincare interventions and surgical procedures, is experiencing a substantial surge due to the growing number of geriatric population seeking remedies to impede the progression of age-related changes. Due to declining fertility rates and surging life expectancy, the population is maturing.

Age-related population growth is being observed in nearly every nation across the globe. Based on data from the United Nations Report, the worldwide population of people aged 65 and above amounted to 771 million in 2022, accounting for an estimated 10% of the global populace. Based on projections, the rate is expected to increase to 24% by 2100, with an additional 16% anticipated by 2050. Continuing this demographic trend is expected to generate further expansion within the market.

Rising Product Launches and Approvals Creates Tremendous Opportunities

Innovation and development within the anti-aging treatment industry are evidenced by the substantial increase in product launches and approvals in the anti-aging services market. For instance, Allergan plc was granted authorization by the U.S. FDA in September 2019 to utilize Juvéderm VOLUMA® XC, a hyaluronic acid gel dermal filler, in conjunction with a TSK STERiGLIDE™ cannula to augment the cheeks. This treatment aims to mitigate the progressive neoplastic changes in the midface that manifest in individuals aged 21 and above. Using a cannula, Juvéderm VOLUMA® XC may be injected into the facial region.

Additionally, in June 2023, La Roche-Posay unveiled Niacinamide 10 Serum, the most recent anti-aging serum to be added to its esteemed collection. Dark spots are effectively diminished, and the skin's protective barrier is restored with this serum. 10% purified niacinamide is present in substantial quantities in Niacinamide 10 Serum. Scientific evidence verifies that it effectively eliminates dark spots, clarifies discolorations, and restores equilibrium to uneven skin tone. As such, it is the first niacinamide serum available in mass quantities. Such launches and approvals are therefore anticipated to generate market expansion opportunities.

Regional Analysis

North America is the most significant global anti-aging services market shareholder and is estimated to expand substantially over the forecast period. North America is anticipated to hold a dominant position in the global anti-aging services market due to the significant demand, awareness, and acceptability of these services among consumers, especially in the United States and Canada. Moreover, the region is experiencing an upsurge in the desire for minimally invasive, non-invasive cosmetic procedures, contributing to the increased demand for anti-aging services. For instance, the American Society of Plastic Surgeons documented over 14.1 million minimally invasive cosmetic procedures performed exclusively within the United States in 2020. This number signifies an increase of 1% compared to the previous year.

Furthermore, favorable reimbursement policies, many influential stakeholders, and frequent product introductions and approvals all contribute to expanding the market in this region. For instance, Bodify, a reputable cosmetic clinic in Phoenix, AZ, recently incorporated the state-of-the-art anti-aging treatment Morpheus8 into its repertoire of services in November 2023. Morpheus8, an innovative technology that targets subcutaneous adipose tissue with radiofrequency radiation and microneedling, induces natural skin renewal. These factors consequently contribute to expanding the anti-aging services market in North America.

Key Highlights

• The global anti-aging services market is estimated to grow at a CAGR of 5.25% during the forecast period (2023–2031).
• Based on type, the global anti-aging services market is bifurcated into microdermabrasion, breast augmentation, liposuction, chemical peel, sclerotherapy, intense pulsed light (IPL), botox, dermal fillers, and others. 
• Based on demographics, the global anti-aging services market is divided into baby boomers, Generation X, and Generation Y (millennials). The Generation X segment is the highest contributor to the market throughout the forecast period.
• Based on service providers, the global anti-aging services market is bifurcated into specialty and dermatology clinics, hospitals, and others.
• North America is the most significant global anti-aging services market shareholder and is estimated to expand substantially over the forecast period.

Competitive Players

Competitive Players

The key players in the global anti-aging services market are Allergan, Inc., Alma Lasers, Beiersdorf AG, Cynosure, Cutera Inc., Solta Medical, Inc., Procter & Gamble, Lumenis, Estee Lauder, Inc., Elizabeth Arden, and others.

Recent Developments

Market News

• In November 2023, Highmount Madison, a company specializing in investment and collaboration with businesses owned by founders and families, invested in the 4Ever Young Anti-Aging Solutions franchise. Boxwood Partners, a middle-market investment bank, was the sell-side consultant to 4Ever Young in the transaction.
• In September 2023, Winter Park, FL, is poised to become a prominent hub for the anti-aging and human longevity industry. The second Florida branch of Serotonin Centers, the nation's pioneering franchise specializing in anti-aging and longevity, commenced operations on September 5.

Segmentation

Global Anti-aging Services Market: Segmentation

By Type

• Microdermabrasion
• Breast Augmentation
• Liposuction
• Chemical Peel
• Sclerotherapy
• Intense Pulsed Light (IPL)
• Botox
• Dermal Fillers
• Others

By Demographics

• Baby Boomers
• Generation X
• Generation Y

By Service Provider

• Specialty and dermatology clinics
• Hospitals
• Others

By Regions

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa