FMI’s report titled “Anti-ageing Market – Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2028” highlights the growth in revenue expected in the market due to growing use of various anti-ageing products and services across the globe. The anti-ageing report lists out key points being considered by anti-ageing product manufacturing companies to emerge and stay sustainably profitable in the long run. The North America anti-ageing market is expected to expand at significant CAGR and is the largest in terms of revenue generated and procedure volumes.
It is further expected to remain the main revenue generating anti-ageing market as most dermatology clinic and facilities are located there. Research on anti-ageing skincare is said to be the most advanced in North America. Europe is expected to remain the region with largest anti-ageing product research as most of the leading anti-ageing skincare product manufacturers are located in Europe.
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The Anti-Ageing report notes that anti-ageing treatments can be a single-time treatment or a combination of cosmetic procedures used to restore youthful appearance to the human face. Anti-ageing can be achieved through either surgical and/or non-surgical methods. Several new and advanced techniques have been introduced in the anti-ageing market, which have been fueling market revenues. Increasing demand for clinically-evidenced ingredients are boosting non-surgico-medical anti-ageing cosmetic procedures.
Compared to the 1990s, demand for clinically advanced and proven ingredients has been boosting the demand for reconstructive, minimally invasive and non-invasive anti-ageing procedures. Still expenditures are dominated by surgical procedures. In this regard, the American Society of Plastic Surgeons (ASPS) noted that anti-ageing surgical procedures accounted for 77% of the total expenditures in 2017 and nonsurgical procedures accounted for 23%. The wider array of cosmetic anti-ageing treatment options provided by various drug and device makers are expected to fuel growth of the anti-ageing products globally.
Top non-surgical anti-ageing procedures include wrinkle reduction by injecting Botulinum toxin type A; volume restoration with the help of hyaluronic acid-based dermal fillers; non-surgical fat reduction; hair removal and chemical peeling. Patients in low-income tropical countries, such as India and Brazil, will promote demand for topical and peel-based anti-ageing treatments. Patients in these countries also resort to using large amounts of over-the-counter anti-ageing products in the anti-ageing market. These are widely adopted as they are much cheaper than Botulinum Toxin type-A injections and laser therapies.
Anti-ageing treatments that are easily available and affordable outside of dermatology clinic settings, however, have limited documented data on efficacy, which deters usage in the long run. From the supply side, lack of availability of long-term patient usage data might hampers companies’ anti-ageing product R&D as scientists suffer from myopic vision on product viability. This will also affect anti-ageing product penetration in developed markets, where consumers/patients tend to do their own research before investing in a treatment/product.
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Another key factor responsible for growing revenues in the anti-ageing market is advertisements. Industry statistics have indicated that customers have a tendency to get attracted to anti-ageing treatments nicely displayed on billboard hoardings, glossy magazines and other types of media channels. Celebrity endorsements along with radio and TV advertisements tend to influence target customers’ buying propensity of anti-ageing products. As such, companies in the anti-ageing market need to allocate greater budget for sales, marketing and advertisements, apart from R&D initiatives, in order to capture greater market share.
Product innovations and combination therapeutics are factors expected to drive the need for multiple sittings for patients undergoing anti-ageing treatment and thus, will lead to greater product penetration in the anti-ageing market. In this regard, the ASPS indicated that in 2014, around 50% customers in the U.S. were repeat customers for Botulinum Toxin Type A therapeutic ant-ageing treatment for wrinkle reduction, which was more often combined with dermal filling session for volume restoration at an interval of five to seven days.
The effect of combination anti-ageing treatments are far more effective in the long run. To minimize side effects, such as head and neck pain, swelling, rashes, and muscle weakness caused by botulinum toxin- type A injections, physicians often suggest use of collagen or hyaluronic filling agents, which minimizes volume depletion and make the person look fresh and youthful. Using both treatments together also positively impacts longevity of tissue dwell time of the filling agent. This factor is expected to fuel demand for a combination of reflation and relaxation rejuvenation therapies in the anti-ageing market.
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This report has been created after performing a detailed analysis based on different product types, application types and distribution channels for various anti-ageing procedures. Some of the leading companies analyzed in the report include Allergan, Inc., Beiersdorf, AG, L’Oreal, SA, Coty, Inc., Cynosure, Inc., Personal Microderm (PMD) (Age Sciences, Inc.), Lumenis, Ltd., Solta Medical, Inc., Nestle, etc. A detailed competition landscape has been included to analyze the different strategies adopted by various players in the anti-ageing market to remain sustainably profitable in the long run.