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Increase in Awareness Regarding Various Anti-Ageing Therapies Are Amongst the Major Factor Projected To Impel Growth of Anti-Aging Market

HYDERABAD, TELANGANA, INDIA, October 21, 2022 /EINPresswire.com/ -- Anti Aging Market size was valued at $45,037 million in 2020, and is anticipated to grow at a CAGR of 5.2% during the forecast period 2021-2026. The anti-aging industry growth rate is attributed to the advancements in anti aging products coupled with improved efficiency have resulted in the expansion of more improved and radical anti-aging products and is anticipated bringing new opportunities. Anti aging involves the procedure of preventing or delaying these shifts by the use of wide range of products consisting of anti-wrinkle, anti-pigmentation, etc. These are widely used to so that ageing can be reversed or slowed down. Moreover, they are generating great demand nowadays owing to the necessity of a good physical personality, which in turn, regulates a person's performance in various aspects of life. Apart from this, anti-aging products benefits the skin in multiple ways, as these products are manufactured with the potential of making the user look younger by reducing, masking or preventing various signs of aging, which is indeed playing a vital role in the development and production of these products.

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Key Takeaways

The factors such as rise in aging population and increase in awareness regarding various anti-ageing therapies are amongst the major factor projected to impel growth of Anti-Aging market.

Additionally, factors such as advancements in anti-aging products coupled with improved efficiency have resulted in the expansion of more improved and radical anti-aging products are to create opportunities paving a way for the growth in the market during forecast period 2021-2026.

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Segmental Analysis:

Anti Aging Market Segment Analysis - By Product Type: In 2020, on the basis of product type, generation X segment accounted for the largest segmental revenue of the anti-aging market. On the contrary, generation Y segment is projected to witness healthy growth throughout the forecast period 2021-2026 with a CAGR of 6.80% since this demographic group comprises mostly of customers who are acquainted to the use of well-known premium brands such as Estée Lauder and Elizabeth Arden that has been on the upswing amongst the millennial generation is anticipated to fuel the sector growth in the product type segment during the forecast period 2021-2026.

Anti Aging Market Segment Analysis - By End Users: On the basis of end users, hospitals segment accounted for the largest segmental revenue of the anti-aging market in 2020. The large share can be attributed to the introduction of mostly used advanced therapies coupled with the fact that they serve as primary centers for treatment and diagnosis of multiple anti-ageing treatments. The global rise in the number of geriatric population and an increasing number of diagnostic & screening tests are anticipated to positively affect market growth during the forecast period 2021-2026. On the other hand, home healthcare segment is projected to dominate over the forecast period 2021-2026 with a CAGR of 6.50%.

Anti Aging Market Segment Analysis - By Geography: North America is the major region dominating the anti-aging market with a market share of 33.89% in the year 2020. This can be attributed to the fact that the presence of well-established infrastructure, key market players, and increasing average life expectancy and the median age in the region. Apart from this, there is a rise in number of plastics surgeries in North America, which is to raise the demand for anti-aging products, thereby is anticipated to fuel the North American market growth during the forecast period 2021-2026.

Competitive Landscape:
The top 5 players in the anti aging market industry are -
1. Cynosure
2. Lumenis
3. Beiersdorf AG
4. Procter & Gamble
5. Acorda Therapeutics

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