Asia, Europe, and South America Anti-aging Market to Become Worth US$30.9 bn by 2020
According to Transparency Market Research (TMR), the Asia, Europe, and South America anti-aging market have a highly competitive landscape. Some of the key players operating in the In order to remain dominant in the market, these players are focusing on the new product innovation and launching cost-effective products.
According to a report by Transparency Market Research (TMR), the Asia, Europe, and South America anti-aging market is expected to expand with a CAGR of 9.30% from 2014 to 2020, to attain the value of US$30.9 bn by the end of 2020 from US$15.3 bn in the year 2012. In 2013, the anti-wrinkle product segment accounted for the larger share in anti-aging market presence in Asia. The anti-wrinkle product segment gained more than US$8.1 bn in Asia in 2013. Among these regions, Europe accounted for the larger share in 2013, with increasing demand for hair restoration treatments.
Increasing Number of Personal Aesthetics to Fuel Adoption
Signs of aging such as appearance of dark spots on skin, dullness, lines & wrinkles, sagging skin, and patchy skin. Along with increasing geriatric population globally is boosting adoption of anti-aging products which is likely to drive the growth of the anti-aging market. Developing products that promise restoration of youthful skin and reversal of signs of aging have been the biggest motivating factor cosmetologists and healthcare professionals in the anti-aging market. This task is leading to huge investments in the research and development (R&D) activities from numerous companies. Development of comparatively affordable services and devices is augmenting the growth of the anti-aging market presence in Asia, Europe, and South America regions.
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The number of personal aesthetics is increasing as well as the rising desire of looking good is augmenting adoption of the anti-aging products. This high adoption is bolstering the growth of the anti-aging market presence in Asia, Europe, and South America regions. Additionally, raising awareness about the presence of numerous treatments and anti-aging products is boosting demand for anti-aging market.
Technological Advancements to Create Opportunities
Despite these growth prospects, the skepticism described by other consumers are restraining growth of the anti-aging market. In addition, increasing consumer preference for natural and organic products over cosmetics which contain chemicals is hampering growth of the market. Nevertheless, technological advancements in the products and some of the stringent regulations have helped to regain the trust and belief of their consumers. This developed trust is leading to create lucrative opportunities for growth of the market. Additionally, launch of new and advanced products are expected to augment growth of the anti-aging market.
This information is encompassed in the new report by TMR, titled “Asia, Europe, and South America Anti-aging Market (Products – UV Absorbers, Dermal Fillers, Botox, Anti-stretchmark, Hair Color, and Anti-wrinkle; Services – Anti-pigmentation, Anti-adult Acne, Breast Augmentation, Liposuction, Abdominoplasty, Chemical Peel, Eye Lid Surgery, Hair Restoration, and Sclerotherapy; Devices – Anti-cellulite Treatment, Microdermabrasion, Laser Aesthetic, and Radio Frequency) – Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020.”