Anti-aging is preventing, slowing, or reversing the aging process. Anti-aging products, services, and devices are beneficial for early detection, prevention, and treatment of age-related problems.
According to MarkNtel Advisors' research report, "Asia-Pacific Anti-Aging Market Analysis, 2021," the market is likely to grow at a CAGR of around 7% during 2021-26. The surging geriatric populace and snowballing developments & innovations in anti-aging products & their enhanced efficiency are other crucial factors likely to fuel the market growth in the forecast period. Furthermore, mounting medical tourism, rising disposable income, and continuous technological advancements to launch a variety of anti-aging products are the other primary products propelling the growth of the Anti-Aging Market across the Asia-Pacific region.
|Study Period||Historical Data: 2016-19|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Key Companies Profiled||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, The Himalaya Drug Company|
|Unit Denominations||USD Million/Billion|
Impact of COVID-19
Social distancing measures and stringent restrictions on the movement of people in the pandemic-frenzied world have negatively impacted the growth of the Asia-Pacific Anti-Aging Market. Due to the widespread pandemic, the government is primarily focused on economic crises and health threats of COVID-19, thereby impacting the market growth. Further, the temporary shutdown of manufacturing units has also adversely affected the production capacity of anti-aging products, which, in turn, hampered the Anti-Aging Market growth across the Asia-Pacific region.
Anti-Wrinkle Captured the Significant Market Share
Based on the Products, the market bifurcates into Anti-Wrinkle Products, Anti-Stretch Marks Products, Hair Color Products, and UV Absorbers. Among these segments, the Anti-Wrinkle Products acquired the largest share in the Asia-Pacific Anti-Aging Market in the previous few years.
The prime reasons for wrinkles are exposure to UV light & pollution for a higher duration, lack of essential nutrients in the body, and other genetic factors. The segment growth attributes to the mounting aging population and technological advancements in the anti-aging product portfolio. Further, Anti-wrinkle products are gaining popularity as they include the ingredients suitable to slow down the aging process, thereby fueling the segment growth, cites MarkNtel Advisors in their research report, "Asia-Pacific Anti-Aging Market Analysis, 2021."
Hair Restoration Accounted for the Largest Market Share
Based on the Services, the market classifies into Anti-Pigmentation Therapy, Adult Acne Therapy, Hair Restoration, Chemical Peel, Liposuction Services, Eye Lid Surgery, Abdominoplasty, and Sclerotherapy, Breast Augmentation. Of these subdivisions, the Hair Restoration segment dominated the Asia-Pacific Anti-Aging Market in the past few years and is likely to maintain its dominance over the forecast period. The segment growth owes to the surging number of hair transplant surgeries. Additionally, the rising geriatric population resulting in the increased number of cases related to hair fall issues fuels the market growth.
India Attained the Highest Market Share
In the Asia-Pacific region, the market presence is in India, China, Japan, South Korea, Australia, and New Zealand Country-wise, India held the largest share in the Asia-Pacific Anti-Aging Market in the previous few years. It is due to the rapid urbanization and change in lifestyle & living standards of people in India. Further, the surge in innovation and development of new cosmetic products and mounting healthcare expenditures are the other crucial factors backing the growth of the Anti-Aging Market in India.
Increasing Consumption of Skin-care Products Boost the Market Growth
Anti-Aging products and services are gaining traction due to the surging demand for grooming products among both male and female populations. In addition to this, the increasing popularity of skin-care products like serums and creams also fuels the market growth. Further, rising concerns towards physical appearance and aesthetics are a few other essential factors resulting in increased demand for anti-aging, thereby propelling the market growth.
According to MarkNtel Advisors, the major leading players in the Asia-Pacific Anti-Aging market are 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 Market Research Report:
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
A. The Asia-Pacific Anti-Aging Market is forecast to grow at a CAGR of 7% during 2021-26.
A. 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, The Himalaya Drug Company are few of the leading players in the Asia-Pacific Anti-Aging Market.
A. Anti-Wrinkle Product is likely to attain the highest CAGR during the forecast period and maintain its significant market share.
A. India continues to grow at the highest CAGR during 2021-26, thereby presenting immense opportunities to market players of the Asia-Pacific Anti-Aging Market.
A. The surging geriatric population, rising medical tourism, and snowballing developments & innovations in anti-aging products & their enhanced efficiency are primary factors propelling the market growth.
A. The sudden outbreak of the COVID-19 pandemic has negatively impacted the growth of the Asia-Pacific Anti-Aging Market due to the temporary shutdown of manufacturing units and shifting of consumer focus towards essential health-related products.