Wendy Lewis investigates the key global trends shaping the aesthetics segment with an eye to what the future holds and the role topical products can play
Today’s anti-ageing market is expanding to cover a diverse range of concerns. Wrinkles are no longer considered the only sign of ageing.
Age spots, pigmentation, uneven skin tone, dry skin, under eye circles, redness and hair thinning are now an integral part of the growing anti-ageing market. While older consumers and perimenopausal women remain the largest target, the market is getting younger. There is an increased demand for anti-ageing products among women in their 30s along with an uptick in millennials interested in preventing or delaying the ageing process, and younger men are also more engaged.
The constant demand for new and effective products is leading to exciting new innovations in natural and organic ingredients, anti-ageing hair care products, unique skin care formulations, topical healing products and scar remedies. For example, the buzzword in sun protection is infrared rays (IR) that penetrate deep into the skin, posing a new challenge for sun care formulators.
The global cosmetic skin care market will expand at a CAGR (compound annual growth rate) of 5.1% through 2024, to reach more than US$200bn, according to Transparency Market Research (TMR). Facial care is the overwhelming leader in the skin care segment, followed by body care, sun care and hand care.
Our insatiable appetite for looking good and staying youthful is fuelling a growing interest around the world in cosmetic procedures, from injections to lasers and cosmetic surgery. According to the Analysis, Outlook And Market Trends In Cosmetic Medical & Surgical 2015-2020 Report by IMCAS (International Master Course on Aging Science) in January 2016, Europe’s market is growing at a rate of 6% per year, the US shows 7% per year growth, Latin America is nearly 9% and the Asia Pacific region has the highest growth of over 13%.
The two segments with the highest market share were shown to be injectables (botulinum toxins, fillers, fat grafts and platelet rich plasma or PRP) at 39%
and energy-based devices (lasers, radiofrequency, ultrasound, cryolipolysis for skin resurfacing, skin tightening and fat reduction) at 29%. Body contouring systems were noted to have the highest growth rate among energy-based devices of 13.6% per year.
At-home products developed to mimic the results of clinical treatments are not new, but the vast spectrum of options continues to expand. High-performance products cater towards consumer demands and the rising awareness of skin health.According to Kline & Co, the professional skin care market in the US alone is forecast to grow at a CAGR of nearly 5% through 2020.
As an adjunct to the skin care category, the medical aesthetics industry is incorporating more ingestible products into a skin health regimen, often incorporating food-based ingredients. This trend dovetails with the greening of skin care and beauty, and an overall consumer interest in wellness. The global nutraceuticals market is growing faster than the overall skin care market.
Some of the leading causes of disease and the ageing process are inflammation and nutritional deficiencies. We are seeing buy-in from clinics offering IV drips infused with vitamins and minerals delivered directly to the cells as a complement to oral supplements and a healthy diet. Each IV treatment can be customised with select ingredients that target the individual’s needs. This model of transporting nutrients is gaining traction among ‘young Hollywood’ and in upscale clinics for millennials through to menopause.
Newcomer AETHERN® Advanced Skin Beauty Program from Barcelona’s BiorganicPharma entered the market with an innovative nutritional collagen-based formula created with 14 special ingredients in one drinkable 25ml dose that is equivalent to taking 25 vitamin tablets. The system is being sold exclusively to clinics and medical spas.
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