The size of the Asia-Pacific medical aesthetic devices market was worth USD 3.01 billion in 2022 and is estimated to be growing at a CAGR of 11.24%, to reach USD 5.12 billion by 2027. The Asia-Pacific region is likely to witness the highest CAGR during the forecast period. This is mainly due to the increasing middle-class disposable income.
Aesthetic medical devices focus on recovering cosmetic appearance by treating situations including skin discoloration, liver spots, wrinkles, moles, cellulite, unwanted hair, skin laxity, excess fat, scars, and spider veins.
The increasing prevalence of obesity and overweight among the people, which is increasing due to rise in consumption of unhealthy processed food, sedentary lifestyle, excessive intake of fats and sugar, insufficient physical activity, are majorly driving the medical aesthetics devices market in the APAC market. Also, the growing population in geriatric is significantly contributing to the market growth. In addition, the increase in advancements in technology for the development of advanced and efficient products and the treatment methods for the people who are more concerned about their looks physical appearance are expected to fuel the market growth.
Also, growing awareness related to cosmetic operations and the rising popularity of plastic surgery, which are used to improve the body, beautification is increasing the demand for medical aesthetics devices in the market. On the other hand, the increase in disposable income among people is rising. Therefore, the demand for cosmetic surgeries in developing countries is also driving the medical aesthetics devices market demand. Furthermore, the market is expected to be driven by the increasing use of minimally invasive and non-invasive cosmetic procedures, raising funding, and investments in research activities to develop enhanced procedures and energy-based devices.
However, increase in the high costs of the medical devices and equipment and the treatment procedures with increased costs of maintenance of the advanced devices. In addition, the lack of reimbursement is also affecting the growth of the is limiting the growth of the APAC medical aesthetics devices market. Also, the adverse effects related to the medical cosmetic treatments with the concerns associated with the social stigma are limiting the market growth as well as the strict government rules and regulation with stringent approval procedures for introducing new products in the market is hampering the growth of the APAC medical aesthetics devices market.
This research report on the APAC medical aesthetic devices market has been segmented and sub-segmented into the following categories:
By Product Type:
By End Users:
Geographically, the Asia Pacific market is estimated to be the fastest-growing regional market in the global medical aesthetics devices market and is estimated to show a significant growth potential during the forecast period. The market growth is projected to be fuelled by the rising concerns among the people with their looks and preferences for medical cosmetic procedures. It is constantly increasing in both industrialized and developing countries, leading to a rise in market growth. In addition, the increasing competition among the players for creating an enhanced and efficient product in the market by adopting various marketing strategies such as acquisition, a collaboration that helps the medical aesthetics devices market increase the market's growth. However, cosmetic surgery has been a common practice in Asia; the countries like China and India have emerged as the region's most prominent cosmetic surgery in the market, propelling the demand for medical aesthetics devices.
China accounted for the largest share of the medical aesthetics devices market. The growing geriatric population, sedentary lifestyles, and excessive intake of fats and sugars contribute to market growth. In addition, technological advancements in the healthcare sector, increasing healthcare expenditure, and favorable reimbursement policies are fuelling the market growth.
On the other hand, the Indian medical aesthetics devices market is anticipated to witness a promising share and contribute to the APAC regional market growth. The market growth is fuelled by the growing population, increasing awareness about the presence of various cosmetic operations, beautification procedures, and supportive government policies are enabling the market growth.
KEY MARKET PLAYERS:
A few prominent companies in the APAC medical aesthetic devices market profiled in this report are Allergan, Cynosure, Johnson & Johnson, LCA Pharmaceutical, Galderma Pharma, Solta Medical, Cutera, Focus Medical, Human Med Ag, Genzyme Corporation, Alcon Inc., and Alma Lasers.
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