Baby Boomers Likely to Push Global Anti-Aging Market to $191.7 billion by 2019

anti-aging-marketAnti-aging is proving to be a lucrative business with products and services such as anti-wrinkle treatments and products, hair restoration treatments, hair color, radio frequency-device based treatments, and breast augmentation becoming much sought after worldwide. In a new market report published by U.S.-based market intelligence firm Transparency Market Research, the global market for these anti-aging treatments and products will grow to USD 191.7 billion by 2019, from being worth USD 122.3 billion in 2013. This marks a compounded annual growth rate (CAGR) of 7.8% between 2013 and 2019.

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What Are The Major Segments Within The Anti-Aging Market?

From the biological perspective, aging is defined as the deterioration and/or decline of functional properties at three main levels: cells, tissues and organs. This process is essentially a cycle of biochemical activities that are brought about in the body by various factors that work both internally and externally. Arguably, age affects the beauty, fitness, and health of an individual.

The anti-aging market comprises a number of technologies and products as well as services and devices aimed at mitigating or reversing the signs of aging. A number of technological breakthroughs and advances have shaped the attributes of the anti-aging industry as well as the way market players’ reach in the market.

As compared to anti-aging devices and services, the category of anti-aging products demonstrates easy adoptability.

The anti-aging services segment is classified as cosmetic surgeries/procedures and non-invasive treatments, both of which are required to be practiced by certified practitioners, plastic surgeons, or trained and qualified beauty therapists. The market for anti-aging services is projected to demonstrate a CAGR of 5% between 2013 and 2019.

The market for anti-aging products is the largest in terms of revenue generation. The products market also holds potential for the introduction of new, safe, and efficient products.

Browse full PDF with TOC: Anti-aging Market -Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019

This is a market that is still considered to be in its evolutionary stage, and it faces a certain degree of skepticism among consumers. However, the compliance of manufacturers with stringent regulatory mandates and the use of cutting-edge technology have restored faith in these products, services and devices to some extent.

What are the factors fueling the anti-aging market?

The anti-aging market is of special importance from the standpoint of the generation of Baby Boomers – a generation that was born between 1946 and 1964. This is a generation that witnessed a transformational era of revolutions and inventions. The Baby Boomers—widely regarded as the most successful generation in the 20th century— is now an aging generation that is nearing the age of retirement.

This makes them a consumer segment that shows maximum potential for the consumption of anti-aging products, services, and devices. The awareness among this generation pertaining to the availability of anti-aging products in the market is growing.

According to reports, the first Baby Boomers reached the age of retirement in 2012. Figures also indicate that over the next 18 years, nearly 8000 individuals per day from this generation will turn 65.

The geographical perspective

Asia-Pacific and Rest of the World (RoW) are two regions that are projected as being most lucrative for the anti-aging market. Within this region, countries such as Japan, China, South Korea and India are expected to emerge as the most sought-after destinations for anti-aging treatments and cosmetic surgeries.

This aspect is only bolstered by the fact that the governments of these nations are introducing various methods to promote medical tourism. In the RoW segment, Mexico and Brazil are being viewed as companies that will attract a significant share in the anti-aging market. These countries are witnessing rapid development on the economic front and there is a simultaneous growth in awareness pertaining to anti-aging treatments, therapies and products among both men and women. This has paved the way for Brazil and Mexico to rank among the most attractive markets in the future.

Global Anti-aging Market Published New Research Report by Transparency Market Research

Anti Aging MarketAccording to a new market report published by Transparency Market Research “Anti-aging Market (Anti-wrinkle products, Hair Color, Hair restoration treatment, Breast augmentation and Radio frequency devices) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019” the global Anti-aging market was valued at USD 122.3 billion in 2013and is expected to grow at a CAGR of 7.8% from 2013 to 2019, to reach an estimated value of USD 191.7 billion in 2019.

Browse the full report with TOC:

Aging is defined as cycles of biochemical activities in the body caused by factors which affect body over a period of time internally as well as externally and leads to degeneration of body affecting beauty, health and fitness of an individual. Anti-aging market has evolved over centuries and modern technology has contributed with widening its reach in products, services and devices. Anti-aging products provide a market which has high adoption as it is comparatively affordable and available than services and devices. Services market has been divided into the cosmetic surgeries and non-invasive treatments which involve certified medical practitioners, plastic surgeons and skilled beauticians. Services market for Anti-aging is expected to grow at CAGR of over 5% from 2013 to 2019.

Baby boomers (born 1946 -1964) a generation which was born in an era of inventions and revolutions are considered to be the most successful generation of 20th Century. Baby boomers are most potential drivers of anti-aging market as they are aging and getting more aware about the available anti-aging products, services and devices. In 2012, the first of the baby boomer generation reached near retirement age and it is estimated that for the next 18 years baby boomers will turn 65 at a rate of 8,000 individual per day. Anti-aging products market is considered to be the largest market in terms of revenue and it shows opportunity for new products which are safe and highly efficient. Anti-aging market is still evolving and contended with skepticism and incompatible clinical results related with the actual health and appearance benefits of many widely marketed products and services. The technological development and stringent regulations have helped this market to regain trust and belief of customers.

Browse full PDF with TOC: Anti-aging Market -Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019

Asia-Pacific and Rest of the World (RoW) are expected to be the next potential destinations for anti-aging market. China, South Korea, Japan and India are observed to be the most attractive destinations for cosmetic surgeries and governments of these countries and are promoting medical tourism for cosmetic surgeries which is believed to be one of the market drivers of these countries’ anti-aging market. Brazil and Mexico are the major countries from RoW which are leading the anti-aging market. The developing economy of these regions and awareness about aging signs in men and women has made these regions as future attractive markets for anti-aging.

The Global Anti-aging market is segmented as follows:

Anti-aging Market, by Age demographics

  • Baby boomers
  • Generation X
  • Generation Y

Anti-aging Market, by Products

  • UV absorbers
  • Anti-Wrinkle Products
  • Dermal Fillers
  • Botox
  • Anti-Stretch Mark Products
  • Hair Color

Anti-aging Market, by Services

  • Anti-Pigmentation Therapy
  • Anti-adult Acne Therapy
  • Breast Augmentation
  • Liposuction
  • Abdominoblasty
  • Breast Reduction
  • Chemical Peel
  • Eye Lid Surgery
  • Hair Restoration Treatment
  • Sclerotherapy

Anti-aging Market, by Devices

  • Anti-Cellulite Treatment Devices
  • Microdermabrasion Devices
  • Laser Aesthetics Devices
  • Anti-aging Radio Frequency Devices

Anti-aging Market, by Geography

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World (RoW)