Market Size of Asia-Pacific Medical Aesthetic Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.80 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
APAC Medical Aesthetic Devices Market Analysis
The Asia-Pacific medical aesthetic devices market is poised to grow at a CAGR of 6.8% over the forecast period.
COVID-19 had a notable impact on the market over the pandemic period owing to strict regulations on elective surgeries, including aesthetic surgeries. For instance, according to an NCBI article published in January 2022, the COVID-19 pandemic dramatically decreased the number of patients who visited the COPD, were admitted to the IPD, and had elective procedures done in the plastic surgery department. Such circumstances had a significant impact on the demand for aesthetic devices in Asia-Pacific, thereby impacting the market growth over the pandemic period. However, now that COVID-19 restrictions have been relaxed and surgical services in dermatology and cosmetology clinics have resumed, the demand for aesthetic procedures is expected to increase, which in turn is anticipated to boost the demand for aesthetic devices over the forecast period.
Certain factors propelling the market growth are the technological advancements in devices, the rise in medical tourism in Asian countries, and the increasing obese population in Asia-Pacific.
The rising prevalence of obesity among the population is the key factor driving the market growth. For instance, according to the 2022 statistics published by the World Obesity Federation, 24% of women, 22.9% of men, and 23.4% of adults were obese in India during 2019-2021. Also, as per an NCBI article published in March 2022, it has been projected that more than 60% of Chinese adults would have abdominal obesity, and over two-thirds of Chinese adults are expected to be overweight or generally obese by 2030.
Furthermore, increasing advanced product launches by key market players are also expected to contribute to the growth of the market. For instance, in March 2021, Joonghun Pharmaceuticals launched the premium-cross linked hyaluronic acid derma filler, Aragon in South Korea.
Althought the market is expected to project growth over the forecast period, social stigma concerns and poor reimbursement scenarios are expected to restrain its growth over the forecast period.
