According to the new market intelligence report by BIS Research, titled “Global Anti-Aging Devices Market – Analysis and Forecast, 2018-2028”, the global anti-aging devices market was valued at $6.37 billion in 2017, and is estimated to reach $15.77 billion by 2028. High demand of minimally invasive and non-invasive beauty devices coupled with early adoption of anti-aging devices by young generation are some of the prominent factors that are expected to boost the growth of the market during the forecast period between 2018 and 2028.
The concept of an ideal body along with an ever-glowing youthful appearance initiated the growth of the anti-aging devices market. The anti-aging devices market consist of a large variety of devices that aim to diminish or reduce the signs of skin aging, such as wrinkles, fine lines, facial hair, and a sagging skin. Anti-aging devices are designed based on a single technology or a combination of more than one technology, such as laser, pulsed-light, radiofrequency, ultrasound and infra-red technologies.
These devices are available either as stand-alone devices (used by skilled professionals for providing in-office treatment) or as direct-to-customer devices (used directly by consumers). Some of the common functions provided by these anti-aging devices include skin-rejuvenation, hair removal, body contouring, skin tightening, and cellulite reduction.
The rising concern about looks and appearance coupled with the increase in awareness about the wide range product options available in the market are the key driving factors facilitating the adoption of anti-aging devices. Besides, increasing geriatric population and the growing prevalence of assorted skin disorders such as warts, psoriasis, acne, dermatitis, lesions, and moles, among others are further contributing to the active growth of the anti-aging devices market.
Furthermore, the growing influx of reconstructive procedures and minimally invasive aesthetic procedures in response to treating premature skin aging have additionally boosted the growth of the market. The potential of anti-aging devices to offer both preventive and curative treatment for skin aging has drawn significant attention of customers.
Consequently, the adoption of anti-aging devices by people aged between 25-40 years has been a key trend witnessed by the market in the past few decades. The anti-aging devices market is a highly competitive market comprising several conglomerate companies as well as start-up firms. Collaborations, partnerships, agreements, and acquisitions are some of the common strategies adopted by these companies in order to sustain the competition. Several companies are also trying to enter the market by launching novel devices offering advanced benefits. Hence, technological advancements of anti-aging devices offer lucrative opportunity for the growth of the market during the forecast period between 2018 and 2028.
According to Pushplata Patel, Lead Analyst at BIS Research, “North America is the leading contributor to the global anti-aging devices market with a contribution of almost 40% of the total market share in 2017. Factors, such as increasing cases of chronic diseases, aging populations, and established healthcare infrastructure are driving the growth of the anti-aging aging market in North America. Within North America, the U.S. itself is expected to witness 93% of the anti-aging devices market share in the region. However, several emerging countries of Asia-Pacific and Latin America are also displaying higher potential to witness robust growth rate during the period”.
Research Highlights:
• Among the different anti-aging devices available in the market, laser devices registered the highest market share in 2017, accounting for 21% of the total anti-aging devices market revenue.
• Increasing inclination of consumers toward easy to use at-home anti-aging devices is a notable trend witnessed by the anti-aging device market in recent years. Currently, stand-alone devices contribute to the highest market share, based on the device type, in the global anti-aging devices market in 2017. However, direct-to-consumer devices is expected to witness a high growth rate during the forecast period between 2018 and 2028.
• Several emerging countries of Asia-Pacific such as Japan, South Korea, China, India, and Thailand offer profitable opportunities for the robust growth of the market. A trend towards the adoption of westernized culture and modern lifestyle are facilitating the growth of the anti-aging devices market in these regions.
• Based on target area, skin rejuvenation contributes to the highest market share of approximately 42% in 2017, whereas body contouring is expected to witness the highest growth rate during the forecast period between 2018 and 2028.
Source: BIS Research Analysis
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This market intelligence report provides a multidimensional view of the global anti-aging market in terms of market size and growth potential. This research report aims at answering various aspects of the global anti-aging devices market with the help of the key factors driving the market, threats that can possibly inhibit the overall market growth, and the current growth opportunities that are going to shape the future trajectory of the market expansion.
Furthermore, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the reader to get acquainted with the recent market activities, such as product launches, regulatory clearance, and certifications, partnerships, collaborations, business expansions as well as mergers and acquisitions, among others. The research report provides a comprehensive analysis of the product sales, and manufacturers and trend analysis by segments and demand analysis by geographical regions.
This report is a meticulous compilation of research on more than 70 players in the ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 20 leading companies, market participants and vendors. The report also profiles 20 companies including several key players, such as Allergan plc, Cutera Inc., El.En. S.p.A, Koninklijke Philips N.V., L’Oréal S.A., Spectrum Brands Holding, The Procter & Gamble Company, Alma Lasers GmbH, Cynosure, Inc., Home Skinovation Ltd., INMODE, Lumenis Ltd., Merz Aesthetics, Neutrogena, NuFACE, PMD Beauty, Quasar Biotech, Sciton, Inc., Solta Medical, and Tria Beauty Inc.
Key questions answered in the report
• What are different types of anti-aging devices available in the market and what are the benefits offered by them?
• What are the advantages of non-invasive and minimally-invasive anti-aging devices and what are the different technologies they support?
• What are the major market drivers, challenges, and opportunities in the global anti-aging devices market?
• What are the key developmental strategies implemented by the key players to stand out in this market?
• What are the leading companies dominating the global anti-aging devices market?
• Based on product type, which anti-aging device type is anticipated to witness massive rise in the demand in the forecast period?
• What are investors’ perceptions about the global anti-aging devices market?
• What are the regulations pertaining to the global anti-aging device market? What are initiatives implemented by different government bodies regulating the development and commercialization of anti-aging devices?
• What was the market value of the leading segments and sub-segments of the global anti-aging devices market?
• How will each segment of the global anti-aging device market grow during the forecast period, and what will be the revenue generated by each of the segments by the end of 2028?
• How will the industry evolve during the forecast period 2018-2028?
• Which region will contribute to the highest sales of the global anti-aging devices market during the forecast period?
• What are the leading trends and consumer preferences witnessed in global anti-aging devices markets?
About BIS Research:
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