The market for anti-aging products, services and devices is expected to reach a whopping USD 1,01,843.40 million by 2034, growing at a CAGR of 5.30%

The market for anti-aging services and devices

The market for anti-aging products and devices is experiencing significant growth, driven by the ever-increasing desire to look and feel young. According to a revised market report by Future Market Insights (FMI), the current valuation of the industry is $60.76 billion in 2024. This trend is expected to continue and forecasts indicate that the market will reach a staggering level USD 101.84 billion by 2034which reflects a constant annual compound growth rate (CAGR) of 5.30%.

In 2022, the global anti-aging products market was valued at approx. 59 billion US dollarsreflecting a solid foundation for upcoming growth. The contemporary focus on maintaining a youthful appearance is the driving force behind the significant growth witnessed in the global cosmetics and skincare market. The diverse applications of anti-aging products, services and devices have stimulated demand among a broad consumer base, transcending different age groups. This growth is attributed to increased self-awareness regarding physical appearance and the desire for effective solutions.

Aging, a natural physiological process, is exacerbated by external factors such as air pollution, exposure to harmful UV rays and alcohol consumption, which contribute to premature aging. Anti-aging creams and lotions have become key elements in a skincare routine, playing a key role in retaining moisture and promoting a radiant, youthful complexion.

Among the various categories of anti-aging products, sunscreens occupy a leading position, effectively protecting the skin from harmful UV rays, thus delaying the formation of wrinkles and discoloration. Brands in the sun care market are responding to the growing demand by offering anti-aging skin care products without parabens, contributing significantly to the expansion of the sun protection sector.

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The increasing incidence of skin diseases such as atopic dermatitis, melanoma and other types of skin cancer will improve the use of anti-aging therapies.

Growing awareness of skin care and the growing desire for younger-looking skin have fueled the growth in sales of products rich in retinol, moisturizers and dermal fillers that reduce wrinkle lines among women.

Another key factor influencing revenue growth in the anti-aging market is celebrity promotion and advertising to promote products and treatments.

Hence, key players are adopting various strategies to increase revenues, thereby driving market growth.

Key findings from FMI’s market research on anti-aging products, services and devices

In terms of applications, anti-wrinkle therapy is expected to be the largest revenue segment
Anti-cellulite treatments will enjoy great interest due to the increasing number of people undergoing this procedure in the United States and the United Kingdom
The United States is expected to see strong demand, leading the North American market over the forecast period.
The UK and France will see continued growth due to an ageing population and the increasing prevalence of skin conditions in the region
Due to the increasing demand for anti-aging products among the aging population, Germany has seen a significant increase, which is 15% world market share
India is expected to emerge as a lucrative market, buoyed by the high demand for cellulite treatments and chemical peels in the country

Anti-Aging Products & Devices Market by CategoryBy Application:

Anti-pigmentation therapy
Anti-cellulite treatment
Anti-wrinkle treatment
Acne Treatment
Scar treatment
Others

By product type:

Creams
Humidifiers
Retinol
Dermal fillers
Botulinum toxin
Chemical skins
Cellulite Treatment
Non-surgical fat reduction
Others

By distribution channel:

Dermatology clinics
Hospitals, Pharmacies, Drugstores
Rejuvenation Centers
Others

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Competitive environment

The key players in the market are focusing on strategic mergers and collaborations to expand their global presence in the market.

New product launches coupled with increased R&D activity aimed at developing advanced anti-aging products and devices will also be one of the key strategies for market participants to expand their customer base.

For example, in December 2020, Devonian Health Group, a global pharmaceutical corporation focused on clinical-stage plant-based products, announced a global sales and marketing partnership for its anti-aging technology R-Spinasome.

Additionally, in January 2021, Aptar Beauty announced the development of its first airless roll-on capsules for the LightinDerm skin care device.

Author:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) has over 12 years of experience in the healthcare, medical devices and pharmaceutical industries. His curious and analytical nature has helped shape his career as a researcher.

Identifying key challenges faced by clients and developing robust, hypothesis-driven solutions to equip them with strategic decision-making capabilities comes naturally to him. His primary expertise includes go-to-market and expansion strategy, feasibility studies, competitive intelligence, and strategic transformation.

Sabyasachi, who holds a degree in microbiology, has published extensively in journals such as The Journal of mHealth, ITN Online and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award winner and member of the Greater New York Chamber of Commerce) offers in-depth insights into the factors driving market demand. FMI is a leading global provider of market intelligence, advisory services, consulting and events for the packaging, food and beverage, consumer technology, healthcare, industrial and chemical markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional and local expertise on various industry disciplines and trends in over 110 countries.

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