Market Trends of Global Anti-aging Industry
Anti-stretch Mark and Anti-wrinkle Products are Projected to Have Significant Growth Over the Forecast Period
A Stretch mark develops when the skin stretches or shrinks quickly. The skin may be prone to rupture due to the abrupt changes in collagen and elastin in the skin layers. Aging is a primary factor for stretch marks. Also, rapid weight loss or gain and pregnancy are the most common reasons leading to stretch marks. Furthermore, according to the NCBI study in May 2021, stretch marks and xerosis appear to respond well to topical oil formulations rich in vitamins and plant extracts. The effectiveness of topical treatment for stretch marks is expected to drive the growth of the studied segment.
The growing demand for anti-stretch mark products, due to the increasing incidence of obesity, particularly among the older population, and the increasing focus of major companies on the launch of advanced devices and products for the treatment of stretch marks are anticipated to boost the segment's growth. For instance, in May 2021, Givaudan Active Beauty launched Centella CAST, an ingredient derived from Centella Asiatics that acts on the mechanisms responsible for the formation of stretch marks. Also, in April 2021, Bio-Oil launched an All-Natural version of the oil which will be available in Ireland for the treatment of scars and stretch marks.
On the other hand, anti-wrinkle products are also anticipated to witness a notable growth rate, owing to the growing awareness regarding the availability of products and the increasing older population. For instance, in September 2022, Derma E launched an anti-wrinkle line of products at Walmart stores across the United States in the Natural face care section. Additionally, the rise in the mid-aged population, 30-55 years old population across the world is expected to drive the demand for the anti-wrinkle and anti-stretch products, thereby contributing to the growth of the studied segment.
North America is Expected to Hold Significant Share in the Anti-aging Market During the Forecast Period
North America's anti-aging market is projected to have significant market growth, owing to the availability of well-established infrastructure, the presence of key market players, and increasing average life expectancies and the median age in the region.
Moreover, the growing adoption of anti-aging products and cosmetic procedures, coupled with favorable reimbursement policies, is anticipated to bolster regional growth over the forecast period.
Moreover, companies in the region are actively focusing on strengthening their market position through R&D and new product launches and receiving product approvals. For instance, in February 2021, the United States Food and Drug Administration cleared Soliton Inc's Rapid Acoustic pulse technology for short-term improvement in the appearance of cellulite. Also, in May 2022, Revelle Aesthetics launched Aveli, a disruptive new cellulite device. Aveli is a Food and Drug Administration-cleared, launch to deliver women with cellulite visibly meaningful results in a single in-office procedure.
Also, in November 2022, Alterna launched the Caviar anti-aging restructuring bond repair collection in Canada. And, in August 2021, Sciton launched the mJoule platform in Canada which features the company's fractional treatment, MOXI, and BBL Hero treatment for skin resurfacing. Such innovative product launches in Canada are expected to contribute to the growth of the market.
Thus, given the aforementioned factors, frequent innovative product launches, and product approvals the studied market is expected to grow significantly in North America.
