Aging is a complex process affecting people differently due to interaction of influences like genetics, environment & temperature, culture, diet & nutrition, exercise & leisure, past illnesses, ionizing radiation, infectious diseases, low-level chronic inflammation and many other factors. As per WHO by 2050, the world’s population aged 60 years and above is expected double to total 2 billion, up from 900 million in 2015.
Though high-income countries like Japan experienced a dramatic demographic shift in geriatric population, the trend is transitioning to low- and middle-income countries like China, Iran, Chile and other developing countries which are projected to be home to 79% of the world’s population aged 60 or over.
The main focus of anti-aging and longevity research has been to manipulate pathways implicated in the structural breakdown of skin and progressive decline of biological functions associated with aging. The core of the anti-aging market evolved, especially to provide aesthetic solutions for skincare, hair care and dental care improving quality of life, psychological wellbeing and social engagement.
Factors that Enhance the demand for Anti-Aging Products:
Anti-aging is one of the rapidly rising markets with a CAGR of 7.87%, to reach $344.89 billion by 2027. Exploding global customer base, especially in China, India, Brazil and the rest of Latin America, will boost dramatic growth in the market. Following are the factors supplementing the growth in the market:
• Enhanced efficacy and safety, wide availability and easy accessibility of products and services and technological developments have been primary driving forces for demand.
• Increase in volume of cosmetic procedures and diverse multifunctional product features create growth in multiple segments like BB and CC creams.
• Increased awareness of aging and ethos of body positivity, the constant rise in geriatric population, increased life expectancy and enhanced prevalence of age-related diseases continuously fuel the demand for various products and services.
• Brand loyalty and product consumption habits of demographic segments like baby boomers, generation X and increased demand for beauty care for men have a substantial impact on the market.
• Rise in disposable incomes and increased medical tourism leveraging growth for niche markets like Korean beauty treatments and third world countries like India and Thailand.
• There is a thriving demand for market-specific products like skin-lightening in APAC countries due to the ever-growing need to correct hyperpigmentation and discolouration.
• Growing preference for natural and organic ingredients in skincare products like natural oils (Argan, Almond, etc.), Fruit extracts, Herbal and natural compounds (Flavonoids, Saponins, Curcumin) has led the development of related products like Traditional Chinese Medicine, Ancient medical practices of Ayurveda in treating aging.
Some of the popular underlying anti-aging strategies which form the basis of treatments are:
• Antioxidants drugs, including Selenium and Resveratrol, facilitate natural antioxidant molecules of vitamins, polyphenols and flavonoids to remove potentially harmful free radicals and are extensively used in preventive care. Several over-the-counter topical applications contain cell regulator compounds like Retinol (vitamin A), growth factors and peptides prevent skin atrophy by stimulating the growth of new collagen.
• The highly specialized discipline of medical aesthetics, including ablative and non-ablative procedures of dermatology, oral and maxillofacial procedures, reconstructive and plastic surgeries have revolutionized skin rejuvenation therapies, cosmetic corrections and body contour improvements.
• Several drugs are developed to activate Sirtuins, which stimulate the effects of natural calorie restriction and facilitate anti-aging genes by suppressing genes’ acquisition of mutations that result in aging.
• Compound know as Rapamycin, an immunosuppressant, is proved useful in slowing the epigenetic clock and retard aging. The underlying ability of the drug to inhibit the protein cell signalling pathways to extend lifespan was established in clinical tests.
• Embryonic Stem Cell transplantation and Telomerase gene therapy are revolutionary anti-aging treatments to act against the shortening of genome telomeres and aging-associated conditions.
• Hormone replacement theory targets progressive decrease of hormone synthesis and deficits affected by menopause and andropause.
• Regenerative medicine, a branch of tissue engineering, is promising translation research to cure previously untreatable injuries and diseases.
• Lifestyle and habit correction is seminal in avoiding exogenous aging factors and highly recommended for successful aging.
Anti-aging market – products, devices and services for aesthetic care
Popular formulations offered for daily skin and preventive care are offered in the form of creams, lotions, gels and serums. Cosmetic UV absorbers are used to prevent environmental damage using compounds of organic chemicals like Padimate O, Octinoxate, Octocrylene and physical blockers such as titanium oxide and zinc oxide. Anti-stretch marks and Anti-wrinkle products cure hormonal aging targeting stretch marks and medium wrinkles. Anti-aging hair dyes or colours usually contain melanin, silk protein, Kertanin peptides to condition the hair and prevent thinning.
L’Oréal, Estée Lauder, Olay by P&G, Neutrogena, Clinique, TRESemme, Pantene are some of the popular skin and hair care brands.
Minimally Invasive and Non-invasive Devices in the Global Anti-Aging Market
The desire for visible results in a shorter amount of time and the ability to facilitate professional results at home are key to anti-aging devices. The devices are sleek, handheld and are designed to provide skincare and cellulite treatment. They are used in treating cellulite and fat deposits, adult acne, hyperpigmentation, slowed regeneration and loss of collagen.
Some of the technologies used are heat-based treatments like ablative lasers, non-ablative radiofrequency, Low-Level Laser Therapy, Light-based -Light Emitting Diodes, Intense Light pulses, Injectables – muscle relaxers, derma fillers, Exfoliation – Microdermabrasion, chemical peels, Needle based- Microneedling & Sclerotherapy and Micro-current Electrical Neuromuscular Stimulation.
Below list includes some of the popular brands:
Radio-frequency devices – Silk’N FaceFX and Dermawand., Pelleve Wrinkle Reduction System
The LED (Light Emitting Diode) Therapy – Baby Quasar Plus and Truth Vitality Lux Renew are FDA cleared LED light devices.
Microcurrent – are Concept devices like BioBliss and Truth Rejuvenate that deliver peptide and hyaluronic acid to the skin.
Aesthetic laser devices – Fraxel Restore, Laser Genesis is a non-ablative laser device. Axel Repair, Pearl Fractional is a fractional laser device.
Dermal Fillers – Restylane and Juvederm are popular filler brands
Muscle relaxers – Botox and Dysport are popular brands of muscle relaxers.
Microdermabrasion devices – Riiviva Microderm Device is an in-house device, whereas Kendal 3-in-1 is a professional Microdermabrasion device.
Aesthetic surgical procedures are invasive methods, which focus on enhancing cosmetic appearance through Oral and maxillofacial surgery, reconstructive and plastic surgery. Some of the traditional surgical therapies and procedures are Liposuction, which is also known as lipoplasty and liposculture, Neck and facelift – Rhytidectomy Rhinoplasty – Nose surgery, Abdominoplasty, which is popularly known as Tummy tuck, Breast augmentation – Augmentation mammoplasty, Eye-lid surgery – Double eyelid surgery or Blepharoplasty, Hair restoration – Hair transplantation and replacement.
Though advances in anti-aging industry have provided increasingly sophisticated ways for consumers to mask the signs of aging, the ever-changing and dynamic marketplace poses challenges.
• Constant exploration for innovative and affordable products as surgical and dermatologic treatments come with a shelf life.
• Seamlessly integrating new technologies and natural products sustainably.
• Forcing lower price points due to growing mass markets empowered by digital opportunities.
• Upholding ethical manufacturing practices and accurate labelling of products and use of regulated ingredients.
• Inherent risk and side effects in procedures like Hormone therapy, Invasive surgical procedures, which begin with short term effects like physical pain, allergic reactions, nerve injuries to serious disorders.
• Lack of full scale of regulation as FDA tests cosmetic ingredients only for safety but not for efficacy.
The future of the anti-aging industry looks promising because of the aging population base, awareness of aging, increased spending capacity and persistent growth in traditional therapies. Rapidly increasing demand for pioneering products and technology drive emerging trends with a core focus on convenience, minimal downtime and non-invasive methods.