Albany, NY -- (SBWIRE) -- 11/12/2018 -- The demand within the global market for anti-aging has been expanding on account of the propensity of the masses to go for skin and hair rejuvenation treatments. Several products including face creams, body lotions, and hair serums have glutted the global anti-aging market. These products have also gained popularity due to the efforts of cosmetic brands in promoting new and advanced anti-aging creams and gels. Owing to these factors, the growth of the global anti-aging market is projected to trace an upward graph over the years to come.
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The marketing and promotions industry has also found innovative ways of promoting products, and positioning them at the right spots on online or social platforms. This has further enhanced the growth prospects of the global anti-aging market and has created lucrative grounds for maker vendors. Several celebrities and famous personalities have endorsed anti-aging products, and this has transcended as a major driver of demand within the global market. The introduction of organic anti-aging products has garnered the attention of the medical fraternity, which has in turn benefitted the sellers of organic cosmetic products.
A report by Transparency Market Research (TMR) finds that the global anti-aging market is expected to grow at a respectable CAGR of 7.80% over the period between 2013 and 2019. Furthermore, the global market has a valuation of US$ 122.3 billion in 2013, and this value is expected to escalate to US$191.7 billion by 2019-end. Several key trends and dynamics are expected to form the basis of growth within the global anti-aging market in the coming years.
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On the basis of population demographics, the global market for anti-aging products and treatments can be segmented into baby boomers, generation Y, and generation X. Since baby boomers now come under the senior citizens group and have substantial amount of monetary fund with them, this population demographic has emerged as the largest consumer of anti-aging products in this segment. Based on the type of products, anti-stretch mark products have attracted the highest demand amongst all other products including hair color serums, anti-wrinkle products, and UV absorbers. The demand for anti-stretch mark products majorly comes from elderly women who have undergone multiple pregnancies in the past. Based on services, the global anti-aging market is segmented into hair restoration treatments, sclerotherapy, abdominoplasty, eye-lid surgery, chemical peel, liposuction services, adult acne therapy, anti-pigmentation therapy, and breast augmentation. All of these service-based segments have cumulatively contributed towards the boisterous growth rate of the global anti-aging market.
The demand within the anti-aging market in North America has been rising at an astral rate due to a number of intrinsic and extrinsic factors. Primarily, the cosmetics industry in the US and Canada has gained recognition across the world due to the expertise of regional dermatologists and effectiveness of local products. Furthermore, a number of people from various corners of the world go to these countries for skin rejuvenation and anti-aging treatments. The effective promotion strategies adopted by the vendors of anti-aging products in the US and Canada have also created commendable demand within the regional market.
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Some of the key players in the global anti-aging market are L'Oreal, Allergan Inc., Solta Medical Inc., Cynosure Inc., Alma Lasers Ltd, Personal Microderm, Beiersdorf AG, Coty Inc., Lumenis Ltd, and Photomedex Inc.
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