According to the latest report published by Credence Research, Inc. “Anti-aging Devices Market – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global anti-aging devices market was valued at USD 20,379.3 Mn in 2017, and is expected to reach USD 43,331.6 Mn by 2026, expanding at a CAGR of 8.6% from 2018 to 2026.
Browse the full report Anti-aging Devices Market – Growth, Future Prospects and Competitive Analysis, 2018-2026 report at https://www.credenceresearch.com/report/anti-aging-devices-market
Anti-aging market can be segmented broadly as curative and preventive treatments. Preventive treatments are mostly related to cosmetic products (creams, serums, & oils), dietary products (capsules, powder, and drink), and devices (massager, and toning devices). Curative treatments comprises minimally invasive & non-invasive devices which heal & reverse the aging damage. Anti-aging devices are experiencing a huge market demand in recent years with technological development to deliver long-term results and also contributing in the growth home healthcare with introduction of portable devices. Anti-aging devices market is growing significantly throughout the forecast period due to key drivers such as increasing awareness related to novel anti-aging devices, rising demand for non-invasive home use anti-aging devices, and high preference towards safe & efficient anti-aging treatments.
The anti-aging devices are mainly used for skin, hair and eye treatment specifically targeting certain areas that possess symptoms of aging. Skin treatments accounted for the largest market share in 2017 due to key market drivers such as ageing symptoms are profoundly observed on skin, wide range of devices available for skin treatments, and increasing public awareness related to appearance specific enhancement. The sales channel through which anti-aging devices are distributed comprises distributors, hypermarkets & supermarkets, retail pharmacy, and online sales. Online sales channel is expected to growth at significant rate throughout the forecast period from 2018 to 2026 due to key market driving factors such as convenient & doorstep delivery of the devices, highly accessible & variety of payment options, and wide range of devices along with user reviews & price discounts.
North America was observed as the largest anti-aging devices market in 2017 due to easy accessibility to modern devices, high public awareness related to the type of anti-aging devices, rising number of cosmetic & dermatology clinics, and trending home use of anti-aging devices. According Public Reference Bureau (PRB), the no. of Americans aged 65 years and above 65 years is expected to double from 46 million in 2016 to around 98 million by 2060. In addition to that, 65 years and above 65 years age group accounts for 15% of the total population and is expected to reach around 24% by 2060. Thus, potential market for anti-aging devices is expected to increase significantly throughout the forecast period from 2018 to 2026.
Market Competition Assessment:
The growth of anti-aging devices is at steady pace and major market players are targeting on development of products which will deliver safe and prolonged results against cellulite treatment. The key players operational in anti-aging devices market are Lumenis Ltd., Hologic Inc., Estée Lauder Companies Inc., Solta Medical, Inc., Syneron Medical Ltd., Palomar Medical Technologies, Alma Lasers GMBH, Photomedex, Cutera, Inc., Valeant Pharmaceuticals International, Inc., and Personal Microderm (PMD) among others.
Key Market Movements:
- Geriatric population is no more the key target population rather the people in early 40s and 50s are considered as the major buyers of anti-aging devices as they claim to prolong the process of aging
- Technological development in anti-aging devices are consistently enhancing due to increasing public demand and accessibility to information related to products
- Asia Pacific will grow significantly throughout the forecast period due to high economic growth, increasing public awareness related to anti-aging treatments, and market entry of multinational anti-aging device manufacturers
- Anti-aging devices market is very competitive due to presence of multinational and local manufacturers which gives high bargaining power to consumers
- Home-use devices are slowly gaining pace in the anti-aging devices market which is still dominated by commercial users but demand for portable, user friendly, and cost efficient devices will attract people opting for home use