Anti-aging Market to Rear Excessive Growth of US$191.7 Bn During 2013-2019
Added: (Fri Dec 01 2017)
The global anti-aging market is growing at a CAGR of 7.8% between 2013 and 2019. With the market’s value being 122.3 billion in 2013, it is expected to reach US$191.7 billion by the end of 2019. Statistics regarding the same have been provided in a research report by Transparency Market Research (TMR), titled “Anti-aging Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”, on sale on TMR’s website.
The report displays data gathered about the global anti-aging market with regard to market trends, geography, revenue streams, and others.According to the report, the global anti-aging market is being driven primarily by the rise in the aging population in the world, especially the nations that hold majorities of the baby boomer population. The population comprises individuals that have, for long periods, been concerned with physical health and beauty.
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The report states that individuals born between 1946 and 1964 are the biggest consumers of anti-aging services and products. Other statistics show that more than 8,000 individuals are added per day to the count of people above 65. This is expected to continue for the next 18 years. A large portion of this aging population includes citizens from the baby boomer era. Their requirement from the global anti-aging market as well as the availability of funds to do so continues to drive the market.The report segregates the global anti-aging market using its various products and services. It states that the majority of the products in the global anti-aging market can be purchased without any prescription. Some services and most devices in the global anti-aging market, however, require special attention and a prescription in most cases.
Overall, the segment of anti-aging products is expected to dominate the global anti-aging market, according to the report by Transparency Market Research. The report also states that the global anti-aging market is currently in a highly developmental stage, and as such is led by experimental studies and customer reception.One of the market restraints mentioned in the report is the skepticism portrayed by consumers towards the global anti-aging market’s services and products. One of the factors that could resolve this is the proven advancement in technologies that help create better services and products. Another factor presented in the report is the growing governmental restriction to safeguard consumer health and maintain product quality.
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The key players mentioned in the report on the global anti-aging market include Photomedex Inc., Lumenis Ltd, Personal Microderm, Coty Inc., Beiersdorf AG, Solta Medical Inc., Alma Lasers Ltd, Cynosure Inc., L’Oreal, SA, and Allergan Inc.In terms of geography, the report projects Asia Pacific to become a major player in the global anti-aging market owing to increasing awareness of innovations and new services, products, and devices, along with the growing disposable income of individuals and families.