Anti-Aging Market To Reach Double-Digit Growth By 2021
According to study, the anti-aging market, worth US$ 140.3 billion in 2015, is expected to register a CAGR of 7.5% during the period of 2016–2021 and touch approximately US$ 216.52 billion by end of forecast timeframe.
The overall Global anti-aging market is likely to demonstrate a humongous growth, owing to intense competition witnessed among the major industry players in the market, claims a research report by Zion Market Research. The key global players of the 3D printing gases market are Beiersdorf AG, Personal Microderm, L’Oreal, Solta Medical Inc, Allergan Inc. and Solta Medical Inc. These industry giants have been adopting myriad strategies for the growth of their business, such as high R&D investments, M&A, product innovations, and geographical expansions. More likely than not, they will be continuing to implement these strategies in the future, notes the research report.
Citing an instance, on August 14, 2018, researchers at the University of Exeter claimed that they were successful in reversing the aging process in cells. The strategic move is likely to help individuals stay healthy along with raising their lifespan. For the record, medical research has proved that as one gets old, the ability of proteins to produce splicing factors in the individual diminishes steadily. This results in a slowing of the old cells activity of turning genes off & on in response to the environmental factors making the individual more prone to chronic ailments and reduces his lifespan.
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Technological Innovation & Rising Anti-Aging Awareness To Boost Growth
“Rising old population and elevated consumer demand for anti-aging products are projected to boost the growth of Anti-Aging Market over the forecast timeframe,” says a research analyst at ZMR. Stringent legislations have resulted in the launching of safe & effective anti-aging goods & services and are likely to boost the market trends. However, low confidence among the customers regarding the effectiveness of anti-aging products & services is projected to hinder anti-aging market development over the coming years, states the research report.
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The Asia Pacific To Dominate The Regional Landscape
The geographical segmentation of the global anti-aging market is also discussed in this research report. North America, Asia Pacific, the Middle East and Africa, Latin America, and Europe have been considered as the key regional markets for anti-aging products & services for the study.
Asia Pacific anti-aging market is projected to experience an elevated growth over the next few years, owing to the approval of innovative anti-aging devices, services, and products. India and China are predicted to be the revenue pockets of the region. On another hand, Europe, which had contributed immensely towards overall market size in 2015, is likely to continue making substantial contributions towards anti-aging market even in the future. The growth is attributed to rising consciousness about anti-aging products & services among the European population.
North America, which dominated the anti-aging market in 2015, is projected to augment the market growth over the coming years, subject to mounting awareness about aging signs & rise in obesity across the region. Furthermore, new product development is anticipated to spur anti-aging market growth over the years to come.
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