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[4 min read] Huge growth in anti-ageing services
The global market for anti-ageing services is expected to grow by US$13 billion in the next six years, according to the latest market report. So how is the market changing?
Anti-ageing services are increasingly popular among Australians, and it is predicted that the global market for these services will be worth US$35.5 billion by 2026 – a growth of 5.3 per cent since 2018.
The new report published by Credence Research found that liposuction procedures are leading the way in cosmetic service growth, spurred by the rising prevalence of obesity and aided by technological advancements in abdominal fat reduction.
This is closely followed by an increased demand for anti-wrinkle injections, especially Botulinum toxin, which are gaining positive traction as patients seek a more youthful appearance.
The demographic most actively seeking anti-ageing services is Generation X (born from the early 1960s to the late 1970s), who are exposed to stressful working conditions and have increased brand awareness due to their participation in social media.
It is predicted that demand for anti-ageing services from Generation Y (born in the 1980s and 1990s) will soon rival their older counterparts, due to this generation’s growing consciousness of their appearance and flexibility to adapt to the latest trends.
The Asia Pacific region accounts for 20 per cent of the anti-ageing market share, due to a rising Generation Y population and a growing per capita income.
Patients are increasingly seeking these services and skilled practitioners to deliver them.