Global anti-ageing market will be worth £306 billion by 2030
The global anti-ageing market is predicted to be worth $421.4 billion (approx. £306bn) by 2030.
According to P&S Intelligence, the market is expected to grow at a CAGR (compound annual growth rate) of 8.1% from $191.5bn (approx. £139bn) in 2019 to $421.4bn by 2030.
A report by the market research company identified the following key findings of the anti-ageing market:
- Consumers are increasingly opting for home-use products and devices
- A booming geriatric population is the strongest driver for the market
- Anti-wrinkle products continue to witness the highest sales of product categories
- Generation X (those born between the mid-1960s and early-1980s) are the biggest user of anti-ageing products
- There are lucrative market opportunities in APAC (Asia Pacific)
- Market players are launching new products to consolidate competition
The market is primarily advancing thanks to the increasing awareness of consumers about new products to market and those under development, says the report.
While the industry has been negatively impacted by the pandemic, as global lockdowns and movement restriction measures have halted the manufacturing and trade of devices and products and aesthetic clinics have been subject to closures, the market is expected to bounce back, with APAC leading the way.
This is down to the booming geriatric population in the region, says the report, as well as surging volumes of cosmetic procedures and a rising number of industry conferences and seminars in regional countries.
Some of the key players in the anti-ageing market were identified as Candela Corporation, Hologic, Allergan, Alma Lasers, Lumenis, LightStim and Jeisys Medical.
This report from The Private Clinic says treatment demand is at a high in anticipation of the end of lockdown in the UK.