With age, the human body undergoes a series of different bio-physiological changes. These changes majorly impact the skin cells of the body and appear in the form wrinkles, fine lines, the growth of facial hair, and folds.
The changes in lifestyle, dietary, personal habits, and hereditary factors, along with external factors such as exposure to sunlight, high level of air pollution, harsh weather, and exposure to harmful radiation, induces faster aging of the skin. Although aging is a natural phenomenon, however, the factors discussed above can cause premature aging of the skin.
Premature aging is an unnatural process occurring in individuals aged between 25-40 years, is however quite common in today’s time. The medical industry over the years has made several attempts to develop products and devices that can help minimize and reverse the signs of aging. The increasing concern for skin and the desire for youthful appearance coupled with the increased incidence of premature aging of skin have propelled the growth of the anti-aging industry for developing non-invasive and minimally invasive anti-aging devices.
Though the anti-aging devices market is in its nascent stage, according to the market intelligence report by BIS Research titled “Global Anti-Aging Devices Market – Analysis and Forecast (2018-2028),” the market is projected to grow at a CAGR of 8.09% during the forecast period, 2018-2028 and reach $15.77 billion by 2028.
The market is segmented under five prominent regions, namely North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa. Amongst these, Latin America anti-aging market is expected to grow at the highest CAGR during the forecast period. Further, the report by BIS Research has segmented the market for the ease of study on the basis of device type, target area, product type, and region. Stand-alone and direct-to-consumer devices are the two major types of devices in the market. The inclination of the market is toward direct-to-consumer devices owing to their ease-of-use and simplicity.
In terms of product type, the market is categorized under 10 different devices and technologies, namely, laser devices, combination technologies, pulsed light devices, light therapy, and micro-needling devices, among others. The study also highlights the key target areas of anti-aging devices such as skin rejuvenation, cellulite reduction, hair removal, skin tightening, and body contouring.
Factors including the growing geriatric population and premature aging along with other factors such as increasing obsession with younger looking skin and growing prevalence of disorders such as warts, psoriasis, lesions, moles, acne, and dermatitis are also leveraging the increased demand for anti-aging devices, thus contributing in the stable growth of the anti-aging devices market.
The anti-aging industry has emerged as a platform of opportunities for healthcare professionals and cosmetologists. The anti-aging devices market is expanding its area of application in countries with both high and low per capita expenditure on cosmetics and personal care products. This growing demand of anti-aging devices is reinforcing the growth of the market, globally.