Anti-Aging Services Market: Current Analysis and Forecast (2024-2032)

Anti-aging services collectively refer to medical or cosmetic treatments with the overall purpose of reversing the aging process on the skin and the entire body. Such services include but are not limited to Botox injection, filling, chemical peeling, laser procedures, dermal abrasion, and surgery like face-lifting. These are intended for use in removing the visible signs of skin aging, including fine lines, wrinkles, age patches, and skin slackening, to help a person's face look young.

The Anti-Aging Services Market is expected to grow at a significant rate of around 7% during the forecast period (2024-2032). As the population ages, there is a developing need for medication that targets or affects health problems associated with aging. As per the United Nations World Population Ageing 2023 report, there are now over 10 million older people in the nation, placing a significant financial strain on the social security and healthcare systems. Even though the proportion of older people was just 7% in 2023. Furthermore, the trends in male grooming and the growing propensity for men to opt for cosmetic products also contribute to the overall market growth.

Based on the type, the market has been segmented into botulinum toxin, dermal fillers, chemical peels, and others. Dermal fillers are expected to grow with a significant CAGR in the forecast period (2024-2032). The rise in the aging population, coupled with a growing desire for non-surgical cosmetic solutions, has fueled the demand for dermal fillers. Moreover, advancements in filler materials and techniques have also contributed to this growth, offering more natural-looking and longer-lasting results. For instance: In 2020, Botulinum Toxin Type A injections were administered to 4.4 million individuals, while 3.4 million people underwent various forms of Soft Tissue Filler treatments, as reported in the 2020 Plastic Surgery Statistics Report.

Based on gender, the market is segmented into male and female. The female segment dominated the market in 2023. Females are more likely to invest in their appearance and wellness, driving the demand for a wide range of anti-aging services, from non-invasive procedures like Botox and dermal fillers to more intensive treatments like facelifts and laser resurfacing. Moreover, youthful skin and the desire to counteract the visible signs of aging, such as fine lines, wrinkles, and sagging skin, are primary motivators for women seeking anti-aging treatments. According to a report by the American Society for Aesthetic Plastic Surgery, in 2022, the large majority of surgical cosmetic procedures worldwide were undertaken by women, with over 86 percent of surgeries.

Based on application, the market is segmented into fine lines and wrinkles, aged hands, sagging skin, and others. Fine lines and wrinkles are expected to grow with a significant CAGR in the forecast period (2024-2032). This is mainly due to early signs of aging being often the first concerns that lead individuals to seek cosmetic interventions. The availability of various treatments, ranging from topical solutions and non-invasive procedures to surgical options, caters to a wide range of preferences and needs.

Based on the service provider, the market is segmented into hospitals, specialty & dermatology clinics, and others. The hospitals segment held a significant market share in 2023. They offer a comprehensive range of anti-aging treatments, from minimally invasive procedures to more complex surgical interventions. The inclusion of anti-aging services within hospital settings provides patients with the assurance of medical expertise and safety standards, which is particularly appealing to those seeking cosmetic treatments.

For a better understanding of the market adoption of anti-aging services, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, France, U.K., Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Asia-Pacific is expected to grow with a significant CAGR in the forecast period (2024-2032) due to cultural emphasis on youthful appearance and beauty standards in many Asian societies, which fuels the demand for anti-aging services. As per the United Nations Economic and Social Commission for Asia and the Pacific, in 2023, an estimated 697 million older persons (60 years or over) are residing in Asia and the Pacific, representing about 60 percent of all older persons in the world. Additionally, skincare and cosmetic companies' increased awareness and marketing efforts are educating consumers about the benefits of anti-aging treatments, thus driving market growth. Moreover, technological advancements and the availability of cutting-edge methods in the region further boost the market. South Korea, for instance, is renowned for its advanced cosmetic surgery techniques and skincare innovations, attracting domestic and international clients.

Some of the major players operating in the market include Beiersdorf AG; L'Oreal Paris; The Estee Lauder Companies; Shiseido Co., Ltd; Insilico Medicine; Nu Skin International, Inc.; Johnson & Johnson Services, Inc.; Life Biosciences, Inc.; Alma Lasers, Cutera, Inc.