Report Description of the UK Anti-Aging Market Analysis
Research Scope and Assumption
- The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
- The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
- We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
- All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
- Inflation has not been accounted for in order to estimate and forecast the market
- Numbers may not add up due to rounding off
Reason to buy the report:
- Facilitate decision-making based on strong current and forecast data for UK Anti-Aging Market Analysis
- Develop strategies based on the latest regulatory framework
- Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
- Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the UK Anti-Aging Market Analysis
- Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
- To strategically profile key players and comprehensively analyze their market shares and core competencies
- We have technically sound team which do a deep dive research and also provide strategy based consulting analysis
UK Anti-Aging Market Analysis Executive Summary
Aging is brought about by a cycle of biochemical processes which cause the body to degenerate over a period of time, impacting the health, fitness and physical appearance of the individual. Anti-aging refers to the process of limiting or retarding these changes through various products and services. Nowadays, good physical personality has become a necessity and determines the success of an individual in different areas of life. The growing consciousness among both the young and old consumers regarding their physical appearance has fostered the demand for anti-aging products and devices.
Market Size and Key Findings
The UK Anti-Aging Market Analysis size stood at around USD xx billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
Market Growth Drivers Analysis
The increasing awareness among the overall population to hold younger-looking skin, hard-line marketing campaigns, and rising interest in a health and beauty regimen are driving the anti-aging products, services, and devices market in Europe. The dominance of the market is mainly due to high awareness and accessibility of a large variety of anti-wrinkle products at a reasonable cost in Europe.
The high cost of anti-aging products and procedures along with the presence of counterfeit products containing toxic substances pose a major challenge to the market growth.
COVID-19 impact on “UK Anti-Aging Market Analysis”
The anti-aging market was badly affected during the COVID-19 pandemic, as manufacturing plants remained shut during much of the lockdown period, in compliance with government norms. Similarly, international trade, especially of non-essential goods, was prohibited or limited, thereby reducing the product supply. In addition, the closed cosmetic centers, spas, and dermatology departments at hospitals reduced the demand for the devices.
The anti-aging market is fragmented in nature. Some of the major players in the market are The Procter & Gamble (P&G) Company, Nu Skin Enterprises Inc., Hologic Inc., Unilever Group, Pierre Fabre S.A, Galderma SA, Shiseido Company Limited, Candela Corporation, and Home Skinovations Ltd.
Products in Pipeline
- In April 2020, Galderma SA received approvals from the National Medical Products Administration (NMPA) of China for three products, namely Restylane Vital, Restylane Lidocaine, and Restylane Lyft Lidocaine, which helped in the expansion of the Restylane portfolio in China. These products were developed to improve skin appearance and act as a skin booster.
- In October 2019, the Cynosure division of Hologic Inc. launched a non-invasive electromagnetic technology, called StimSure, in Europe and the Middle East. The technology helps strengthen and tighten muscles in the abdominal, gluteal, and thigh areas by stimulating or contracting the muscles. It delivers up to 24,000 muscle contractions in 20–30 minutes, for natural-looking results.
Notable Recent Deals
- In December 2019, Estee Lauder Companies Inc. acquired Have & Be Co. Ltd, a Seoul-based global skincare company that brands Dr. Jart+ and men’s grooming products named Do The Right Thing. In September 2018, Syneron Medical Ltd acquired Ellipse AS, a company that manufactures and markets laser-based and intense pulse light (IPL) platforms for different types of medical and aesthetic skin treatments.
Healthcare Policies and Regulatory Landscape
Policy changes and Reimbursement scenario
The UK government has published Build Back Better, its plans for health and social care in England. The social care proposals include, from October 2023, an £86,000 lifetime cap on care costs (excluding accommodation). The proposals will be funded by measures including a 1.25% increase in National Insurance contributions, which from April 2023, will become a separate, notionally hypothecated, charge on earned income, the Health and Social Care Levy.
The Westminster government has also published a white paper, outlining its 10 year plan for adult social care reform in England.
On 7th September 2021 the UK government announced that it would exclude earnings from the pension guarantee, for one year, on the grounds that a statistical anomaly in earnings, caused by Covid pandemic measures, would have led to an 8% rise in pensions.