The Asia Pacific Anti-Aging Market is projected to grow at a CAGR of around 7% during 2023-28, cites Markntel Advisors in the recent research report. The market growth is attributed to the surging geriatric population and new developments, and innovations in anti-aging products in the region. The region’s rising disposable income and surging spending habits are facilitating the industry by consumers actively following the trend of discovering, modifying, and making their skin-care routine. Moreover, Anti-Aging products provide preventative measures against the invasive processes that consumer has to go through in the later part of their life for aesthetic beautification, thus as a preventative measure, and less physically draining and more cost-effective solution. Besides, the rampant medical tourism in the region majorly to a large number of plastic surgery clinics, beautification clinics, etc. is facilitating the expansion of Anti-Aging products, further states the research report, “Asia Pacific Anti-Aging Market, 2023.”
Asia Pacific Anti-Aging Market Segmentation Analysis
The market is broadly fragmented based on Products, Services, Devices, Age Groups, Distribution Channels, And End Users. On the basis of Products, the market is segmented into Anti-Wrinkle Products, Anti-Stretch Marks Products, Hair Color Products, UV Absorbers, and Others (Dermal Fillers and Botox). And Based on Services, the market is segmented into Anti-Pigmentation Therapy, Adult Acne Therapy, Hair Restoration, Chemical Peel, Liposuction Services, and Eye Lid Surgery, Abdominoplasty, Sclerotherapy, Breast Augmentation. Based on Devices, the market is segmented into Anti-Cellulite Treatment Devices, Laser Aesthetic Devices, Radiofrequency Devices, and Microderm Abrasion Devices. Based on the Age Groups, the market is segmented into Generation Y (Age Group: 25-40 years), Generation X (Age Group: 41-56 years), and Baby Boomers (Age Group: 57-75 years). Based on Distribution Channel, the market is segmented into e-commerce, Direct Sales, Departmental/Retail Stores, and Supermarkets/Hypermarkets. Based on End User, the market is segmented into Hospitals, Clinics, and homecare.
Accurate Promotional Strategies Fuel the Anti-Wrinkle Segment
Based on Products, the anti-wrinkle segment is expected to generate sturdy growth over the forecast period. Some prime causes for wrinkles include lack of essential nutrients, exposure to UV light, smoking, and genetic predisposition. Anti-wrinkle products gained immense popularity as they contain specific ingredients, raw materials, and certain formulations that hinder the ultra-aging process. Moreover, with further innovations in technology and production process, the market players are releasing new products focusing on different factors such as depending on skin type, consumer needs, compatibility with other products, etc., which has proliferated and spread the industry further into both the cosmetic, skincare and the medical sections. Therefore, with increasing options and choices among consumers, the entire anti-wrinkle product segment transformed into a cost-effective, time-bound, and quick-response mode of sale to consumers propelling the market.
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Coty Inc., PhotoMedex, Inc., Lumenis Ltd, Alma Lasers Ltd, Beiersdorf AG, Allergan Inc., L'Oréal S.A., VLCC Health Care Limited, The Procter & Gamble Company, and The Himalaya Drug Company.
Key Questions Answered in the Research Report