Thursday, 06 October 2022

The Business of 'Looking Good' Soars

31 January 2022 | Views | By Dr Karishma Kagodu, Cosmetic Surgeon, Founder & CEO, Dr Karishma’s Aesthetics

The future of anti-ageing is looking very challenging and there is presently no permanent medical method/technology that reverses the ageing process. As per the recent Asia Pacific Anti-Ageing Market Research Report 2021, India is the fastest growing market and is predicted to grow at a compound annual growth rate (CAGR) of 12-15 per cent in upcoming years.

The anti-ageing market in India is on par with global market trends because of accelerating factors like globalisation, lifestyle changes, and advanced innovations in cosmeceuticals.


The rise in consumer demands for anti-ageing solutions, with the increase in income and lifestyle standards among the population across India, is the key factor driving the growth of this market, aside from the fact that a large population in India has also become very savvy and prioritise the way they look and present themselves more now, than ever before. A lot of growth in this trend can also be attributed to the easy access of information about the evolving anti-ageing solutions available.


According to the United Nations World Population Prospects 2019 report, the total population within the range of 40-59 years of age was approximately 17,83,309 in 2019, and it is predicted to reach 20,46,991 by 2030, leading to an upwards trend in the rise of anti-ageing solutions hitting the market. Cosmetic methods are expected to grow at a CAGR of 8.1 per cent from $191.5 billion in 2019 to $421.4 billion by 2030.


Similarly, there has been an increase in the number of patients opting for Botox treatments globally since 2019, as stated by the International Society of Plastic Surgery. On the other hand, method innovation, advancement in technology, increasing investment in research and development by the plastic / cosmetic surgeons and scientists towards the innovation of extremely safe and highly efficient skin care solutions are expected to accelerate the anti-ageing market worldwide in the same manner and India is no different, keeping their current growth status in mind.


What's the 'In Thing'?


The top five cutting-edge, non-surgical anti-ageing treatments are Botox, Laser resurfacing skin treatments, Medifacials/chemical peels, dermabrasion, and dermal fillers to reduce ageing signs. These treatment options aim to offer youthful-looking skin by treating signs of ageing, such as wrinkles, facial fine lines, frown lines, hydrating skin, face volumizing, removing acne scarring, sun spots, age-spots, freckles, melasma, pigmentation, and helping in revitalizing your skin with the formation of new healthy skin cells.


Botox is a large water-soluble protein that temporarily prevents muscle movement and help treat fine lines and wrinkles in adults, besides it’s medical usage to treat migraine/ neuropathic pains/excessive sweating (Hyperhidrosis) in the palms, feet and armpits.


Each year, approximately 6 million people globally make it a prevalent choice to combat anti-ageing. In addition, Botox has been available in India since 1994 for therapeutic purposes.


The name Botox is specifically used by the company Allergan, and targets certified plastic surgeons and dermatologists trained in facial aesthetics procedures to use this injection to aid aging related appearance changes. Botox is a generalised term, and there are other pharmaceutical companies who also produce botulinum toxin injections with various other names. These treatments require extreme precision, knowledge, and expertise to administer and are not available on the counter. In India, Botox is counted under the top five minimally invasive procedures.


Anti-ageing has several quite different common meanings and connotations championed by a particular group or the community. Each group or community has their own way of introducing the term anti-aging based on their strategy to penetrate the fabric of the industry. Owing to changes in lifestyle, advanced innovation in cosmetics and non-invasive solutions, escalating healthcare expenditures are majorly elevating the market growth in India and there is definitely a lot more scope of improvement. These disruptions and technological breakthroughs experience a surge as and when there is a rise in market demand trends which will further escalate the development of anti-ageing technologies in India.

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Dr Karishma Kagodu, Cosmetic Surgeon, Founder & CEO, Dr Karishma’s Aesthetics 

 

 

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