Asia Pacific Medical Aesthetics Market is expected to reach US$ 15,729.12 million by 2028

Facial Aesthetic Products Segment, by Product Type, to Dominate Asia Pacific Medical Aesthetics Market During 2022–2028

According to our new research study on "Asia Pacific Medical Aesthetics Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product Type, Application, and End User," the market was valued at US$ 7,058.31 million in 2022 and projected to reach US$ 15,729.12 million by 2028; it is estimated to register a CAGR of 14.3% from 2022 to 2028. Key factors driving the smart hospital beds market growth are growing medical tourism, growing adoption of minimally and noninvasive aesthetic procedures, and the increasing usage of dermal fillers and botulinum toxin for enhancing facial aesthetics. However, the clinical risks and complications associated with medical aesthetic procedures are hampering the growth of the Asia Pacific medical aesthetics market.

Based on product type, the Asia Pacific medical aesthetics market is segmented into facial aesthetic products, body contouring devices, cosmetic implants, skin aesthetic devices, hair removal devices, tattoo removal devices, and others. In 2021, the facial aesthetic products segment held the largest share of the market. The rising R&D initiatives in the aesthetics industry and the recent regulatory approvals drive the Asia Pacific medical aesthetics market growth. Also, the high proportion of the senior population and the rising patterns of early aging due to environmental factors such as pollution contributes to the facial aesthetics products market. The popularity of dermal fillers has grown rapidly in recent years as they rejuvenate and enhance the aesthetic improvements previously only achievable with surgery but at a lower cost and with limited-to-no recovery time.

Medical Aesthetics Market, by Region, 2022 (%)

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The growing concern of people about their appearance is gradually increasing, both in developed and developing countries, which leads to a rise in the number of cosmetic surgeries performed annually. According to the Aesthetic Society data published in April 2022, facial aesthetic procedures such as facelifts and brow lifts have risen 54% compared to 2021. Also, laser treatments are widely performed in Asian countries, thus, enabling the growth of the Asia Pacific medical aesthetic market.

In Asia Pacific, China is among the largest medical aesthetic markets. The market growth is primarily attributed to the technological advancements in dermatology devices, increasing developments by the market players, and favorable regulatory policies. Furthermore, increasing demand for aesthetic treatments among the male population, technological advancements in energy-based devices, and government and non-government partnerships are the other factors propelling the medical aesthetic market. In September 2022, Allergan announced the launch of its medical aesthetic innovation center in Shanghai. Allergan aims to enhance the healthy development of the medical aesthetic industry in China.

Moreover, the market players are continuously developing technologically advanced aesthetic products. For instance, GBS is a leading manufacturer of aesthetic machines in China. The company offers Nailclear, a long-pulsed Nd:YAG laser, to treat nail fungus. Also, in recent years, the industry has observed drastic changes in the adoption of market strategies such as product developments, expansion of companies, approvals, mergers, and acquisitions. For instance, in September 2022, a French company, Vitalorga, launched its range of Hyaluronic Acid products in China.

Additionally, rising awareness of cosmetic procedures to improve aesthetic appeal is high in China. The number of plastic surgeons in the country has increased, leading to an increasing number of plastic surgeries. According to the ISAPS 2021, China ranked 3rd for having 3,000 plastic surgeons accounting for 6.8% of the total plastic surgeon worldwide. The above factors are likely to propel the demand for medical aesthetics in this country.  

AbbVie Inc, Bausch Health Co Inc, Lumenis Be Ltd, ARC Laser GmbH, Alma Lasers Ltd, El.En. SPA, Crown Laboratories Inc, Merz Pharma GmbH & Co KgaA, Quanta System SpA, Galderma SA, Venus Concept Inc, PharmaResearch Co Ltd, and Neoasia (S) Pte Ltd are a few of the key companies operating in the Asia Pacific medical aesthetics market. 

The report segments the Asia Pacific medical aesthetics market as follows:

Based on product type, the Asia Pacific medical aesthetics market is segmented into facial aesthetic products, body contouring devices, cosmetic implants, skin aesthetic devices, hair removal devices, tattoo removal devices, and others. Based on application, the Asia Pacific medical aesthetics market is categorized into facial and body contouring, facial and skin rejuvenation, breast augmentation, hair removal, reconstructive surgery, tattoo removal, and others. Based on end user, the Asia Pacific medical aesthetics market is segmented into hospitals, dermatology clinics, medical spas and beauty centers, and home care. In 2021, the hospitals segment held the largest share of the market and is expected to register the highest CAGR during the forecast period. Based on country, the Asia Pacific medical aesthetic market is segmented into Japan, China, India, Thailand, South Korea, Australia, Singapore, Malaysia, Indonesia, the Philippines, Vietnam, and the Rest of Asia Pacific.