Anti-aging market is forecasted to generate a revenue of $303.2 billion by 2025. The market is mainly driven by growing geriatric population, rise in technological advancements, growing medical tourism industry, and increasing volume of anti-aging cosmetic procedures.
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In terms of the type of device, the anti-aging market is classified into radiofrequency devices, laser devices, anti-cellulite devices, and microdermabrasion devices. Radiofrequency (RF) devices are expected to be the largest segment in the global market in 2025. Many advantages of RF devices, which include skin tightening, aesthetic enhancement, cellulite, and body contouring are driving the growth of the market.
In terms of treatment, the anti-aging market is segmented into hair restoration, anti-pigmentation, anti-adult acne, liposuction, breast augmentation, chemical peel, and others. Hair restoration is expected to be the largest segment in the global market in 2025. One of the major factors driving the growth of the hair restoration market is significant increase in the number of hair transplantation procedures.
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In terms of demography, the anti-aging market is classified into generation X, baby boomer, and generation Y. Generation X is expected to be the largest segment in the global market in 2025. Increase in the volume of aesthetic procedures on generation X is going to drive the growth of the market.
Major key players in the global anti-aging market are acquiring other aesthetic based manufacturers to expand their product portfolio for different type of skin conditions. For instance, in September 2018, Syneron Medical Ltd. acquired Ellipse A/S, a Danish medical device company that manufactures and markets laser based and intense pulse light (IPL) platforms for different types of medical and aesthetic skin treatments. This acquisition will help Syneron Medical Ltd. to strengthen its footprints in multi-application space and provide customers a comprehensive product portfolio.
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Some of the other key players operating in the anti-aging market are The Procter and Gamble Company, Nu Skin Enterprises Inc., Lumenis Ltd., Home Skinovations Ltd., Allergan plc, The Estée Lauder Companies Inc., Coty Inc., L’Oréal S.A., Orlane S.A., Age Sciences Inc., and Alma Lasers GMBH.
Source: P&S Intelligence