According to the United Nations (UN) World Population Ageing report of 2019, the population of people aged 65 years and above is estimated to reach around 1.5 billion by 2050. This group of people is already adopting large quantities of anti-aging products, as it suffers from the loss of fibrous tissue and reduced glandular and vascular network in the skin layers. All these conditions lead to dryness, skin sagging, wrinkles, and pigmentary alteration, which can be treated with anti-aging products that give a younger look by tightening and revitalizing the skin.
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In recent years, the usage of easy-to-use at-home devices has surged significantly due to the easy availability of an array of such user-friendly and portable devices for skin rejuvenation, wrinkle reduction, microdermabrasion, and cellulite reduction. These products are more advanced and protect the skin from sun damage. The aging population is concentrating on preventive measures to minimize the signs of aging, and the adoption of these devices helps the elderly in maintaining a youthful appearance.
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Some of the most-widely used anti-aging products are anti-stretch mark, hair color, anti-wrinkle, and ultraviolet (UV) absorption devices. Among these products, the demand for anti-wrinkle products, such as dermal fillers and Botox injections, is substantially rising due to the growing awareness regarding aesthetic appearance. Dermal fillers are technologically advanced and can help in slowing down the aging process, which is why collagen-based, hyaluronic acid-based, synthetic polymer-based, and hydroxylapatite-based fillers are being adopted on a large scale.
To meet this demand, players operating in the anti-aging market are strongly focusing on product launches. For instance, Revlon Inc., in January 2020, launched NEW Total Color, a vegan, clean, and high-performance permanent hair color that covers gray hair almost completely. Similarly, in March 2020, Lumenis Ltd. launched the next generation of its multi-application platforms for skincare, named Stellar M22. It includes an enhanced user interface with a larger screen that allows for quick treatment and a more-convenient remote consultation process.
Thus, the booming population of the elderly and rising awareness about skin aesthetics will boost the demand for anti-aging products and procedures in the foreseeable future.
