Market Size of Global Anti-aging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.10 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Anti Aging Market Analysis
The anti-aging market is expected to witness a CAGR of 6.1% over the forecast period.
The global pandemic of COVID-19 has highly impacted all facets of the healthcare industry. Also, the number of cosmetic procedures during the pandemic period was minimal to none during COVID-19. For instance, the Springer article published in August 2022, mentioned that a 60% reduction in cosmetic surgeries in the pandemic period was recorded Moreover, most elective surgeries were deferred to reduce the COVID-19 infection rate across the world. Thus, the pandemic had a significant impact on the growth of the market. However, the resumption of cosmetic surgeries after the relaxation of strict regulations during the post-pandemic is expected to contribute to the growth of the market over the coming five years.
The rise in the consumer demand for anti-aging solutions, with the increase in lifestyle standards and income among the population across the world, is the major factor driving the growth of the studied market. According to the United Nations World Population Prospects 2022 report, the share of the global population aged 65 years or above is projected to rise from 10% in 2022 to 16% in 2050. Such an increase in the aging population is expected to contribute to the growing demand for anti-aging, thereby contributing to the growth of the market.
Additionally, the rising demand for anti-aging treatments is also expected to contribute to the growth of the market. For instance, the survey conducted by the American Society of Plastic Surgeons in 2022 mentioned that in the United States, 76% of plastic surgeons witnessed increased demand for cosmetic procedures and 23% reported that their business has doubled. The report also mentioned that a facelift is the top cosmetic surgical procedure demanded by patients in 2021-2022.
Additionally, the advancements in technology and increasing investment in the research and development activities by major players for the innovation of highly safe and efficient skin care solutions are expected to propel the anti-aging market globally. Thus, with the rising adoption of anti-aging solutions, there is a potential market for anti-aging devices and aesthetic plastic surgery procedures over the forecast period. However, stringent regulatory policies for the devices and social stigma in some populations are expected to hinder market growth over the forecast period.
