Cosmetic giants target aging populations in China
Updated: 2015-08-20 13:15
By SHI JING in Shanghai(chinadaily.com.cn)
As China becomes an increasingly aging country, global healthcare company Nestle Skin Health is expanding the silver market with the launch of its new Skin Health Investigation, Education and Longevity Development (SHIELD) Center in Shanghai in late July.
The center is the first of its kind that Nestle Skin Health established in Asia. Scheduled to be put into use in the first quarter of 2016, the center will help to create an environment where medicine and technology can be combined with bio-informatics to develop preventative, diagnostic and treatment strategies to advance the next generation of skin health regimens.
"An increasing demand for healthcare in China is driven by the aging population, rapid urbanization and industrial development. Central to this will be good skin health, said Benoit Legodec, regional director of Galderma Greater China, the joint venture formed by Nestle and cosmetics giant L'Oreal group in 1981 and transferred into a wholly-owned subsidiary of Nestle in 2014.
China's aging challenges are looming and the need for maintaining and restoring skin health and treating skin conditions and diseases are a more essential part of wellness, active aging and good healthcare than ever before. Each year, there are more and more cases of skin cancer, pruritus and other skin diseases in the elderly population, and they are often associated with a considerable amount of physical and emotional burden.
The United Nations has estimated the over-65 population will increase by about 7 million annually on average over the next two decades in China, accounting for about 20 percent of the country's total population by 2035. According to the China Report on the Development of the Silver Hair Industry 2014 released by the China National Committee on Aging, the value of the elderly market will reach 106 trillion yuan ($16.56 trillion) by 2050, which will be a significant increase from the 4 trillion yuan in 2014.
"With 1 billion of us over the age of 60 by 2020, the Global Coalition on Aging sees Nestle Skin Health's SHIELD initiative as an important and leading innovator to enable healthier and more active aging for individuals of all ages and society at large. Moreover, we are proud to be partnering with Nestle Skin Health in this global venture, which recognizes that longevity leads to an even greater demand for healthier skin across our life course," said Michael W. Hodin, chief executive officer of the Global Coalition on Aging.
"Skin health is vital to the quality of life and well-being at all ages. Proactive skin care will help us obtain a healthier skin as we age and support a more active aging throughout our lifetimes. This center will not only provide new resources, allow local skin health professionals to communicate with experts from other fields and share experiences with each other, but will also raise awareness of the importance of skin health among the public."