Market Size of Japan Aesthetic Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 2.36 Billion |
| Market Size (2029) | USD 4.20 Billion |
| CAGR (2024 - 2029) | 12.27 % |
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?
Japan Aesthetic Devices Market Analysis
The Japan Aesthetic Devices Market size is estimated at USD 2.36 billion in 2024, and is expected to reach USD 4.20 billion by 2029, growing at a CAGR of 12.27% during the forecast period (2024-2029).
Japan's aesthetic devices market is primarily driven by the aging population and growing demand for minimally invasive aesthetic devices. According to the International Society of Aesthetic Plastic Surgery (ISAPS) plastic surgery procedures for aesthetic purposes decreased in 2020, with surgeons experiencing temporary practice closures during the COVID-19 pandemic. However, Japan was one of the top 10 countries for procedures in 2020.
Japan has one of the highest percentages of the elderly population. The report published in December 2020 titled "Japan's aging society" stated that around 28.7% of the population in the country was 65 or older, with women forming the majority. The country is also home to a record 80 000 centenarians. By 2036, people aged 65 and over will represent a third of the population. This is the major factor in the growth of the aesthetic devices market in Japan. Other factors like increasing awareness regarding aesthetic procedures and rising adoption of technologically advanced devices have also helped propel the growth of this market.
Mergers and acquisitions are some of the key factors for the growth of the market in the country. For instance, on May 8, 2020, AbbVie completed the acquisition of Allergan. AbbVie is planning to launch Allergan Aesthetics, a global subsidiary under the umbrella of the AbbVie-Allergan merger. Such mergers bring innovations and key players in the market.
However, reimbursement issues and stringent safety regulations for aesthetic devices and procedures have dissuaded some companies from entering this market. This has, hence, acted as a restraining factor for the growth of this market.
