Anti-Aging Services Market Overview: 2030

Anti-aging service is used to fight the signs of skin aging wrinkles and sagging skin. Although most of these services are used for treatment of aging symptoms, they could be used to prevent the signs of aging. The most common causes of skin aging are sun damage and rigorous exposure to free radicals. However, with time the skin naturally ages, and people may notice the signs when they start entering the age of 40 or 50. As most of the anti-aging procedures and services are for cosmetic regions, they are rarely covered by insurance. Some of the anti-aging services include microdermabrasion, liposuction, chemical peeling of the skin, and breast augmentation.

Anti-Aging Services Market Scope and Structure Analysis

COVID-19 Impact Analysis

COVID-19 is an infectious disease that originated in the Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.

Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing a shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected to witness significant growth in the future, owing to the demand for vaccines and treatment drugs for COVID-19.

With COVID-19 spreading all across the world, hospitalization rates declined dramatically. There were several reports of many hospitals operating at less than 50% capacity to curtail noncritical medical services and elective surgeries. People are even less likely to visit hospitals and clinics for anti-aging services. Therefore, COVID 19 is expected to have a significant impact on the anti-aging services market.

Top Impacting Factors

Majority of the global customers who need anti-aging services have become more aware of anti-ageing procedures due to social media. Hence, providing effective and innovative services has become imperative for players, which is acting as a driver for the global anti-aging market.

Technological advancements in the beauty industry have given rise to many aesthetic enhancement services. As the population around the world ages, the demand for these services is expected to keep increasing, thus contributing toward the growth of the market.

Increased adoption of Botox procedures by many customers in recent years along with the entry of many Asian players is a major growth factor of the global anti-aging market.

With rising demand for preventive anti-aging services among young population notably contributes toward the growth of the global anti-aging services market.

However, high cost associated with most of the anti-aging services is one of the factors that impedes the market growth.

Key Market Trends

In 2019, the liposuction procedures segment held a major share of the anti-aging market. This is attributed to increasing awareness and technological advancements in the field of liposuction.

The Botox procedures segment is expected to exhibit the fastest growth rate in the anti-aging market, owing to the fact that Botox and other dermal fillers are expected to gain high traction, as these procedures are noninvasive.

In 2018, Allergan, Inc. announced the results of its clinical trials based on assessing the effects of Botox in people with glabellar lines. In these trials, it was observed that even high doses of Botox are safe and effective in the treatment of glabellar lines for anti-aging.

North America leads the anti-aging market, due to a rise in the aging population, especially belonging to generation Y, as people from this generation are more concerned about their wellness, beauty, and physical appearance.

Key Segments Covered

Key Benefits of the Report

• This study presents the analytical depiction of the anti-aging services market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the anti-aging services market share.
• The current market is quantitatively analyzed from 2020 to 2030 to highlight the growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed analysis depending on competitive intensity and how the competition will take shape in the coming years.

Questions Answered in the Anti-aging Services Report

• Which are the leading players active in the anti-aging services market?
• How is each segment of the market expected to grow during the forecast period?
• What are the adoption trends for the anti-aging services market in emerging economies and established economies across the world?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What future projections would help in taking further strategic steps in the market?
• What are the impacts of COVID-19 on the industry?
• What are anti-aging services?
• What are the current and predicted trends of the market?