Asia Pacific Medical Aesthetic Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

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.

Asia Pacific Medical Aesthetic Devices Market Trends

Dermal Fillers and Aesthetic Threads are Expected to Register a High Growth Over the Forecast Period

Dermal fillers are medical device implants used to help create a smoother and/or fuller appearance in the face, including nasolabial folds (the lines extending from the sides of the nose to the edges of the mouth), cheeks, chin, lips, and back of the hands. They are also referred to as injectable implants, soft tissue fillers, lip and facial fillers, or wrinkle fillers.

The thread lift procedure has benefits such as brow, midface, jowl, and neck lifting, and it is credited with many advantages. These benefit factors are expected to drive the demand for derma fillers, thereby boosting the growth of the studied segment over the forecast period.

The rising geriatric population in Asia-Pacific is expected to boost the demand for derma fillers and aesthetic threads, as aging might lead to dehydration in the skin, thereby boosting segment growth. For instance, according to the 2022 statistics published by the United Nations Population Fund, in Japan, a large proportion of the living population was aged 15-64 and accounted for 59% in 2022. In addition, as per the same source, 29% of the population was 65 years and above in 2022.

Additionally, as per an NCBI article published in May 2022, in Chinese individuals, it was observed that the three-point approach to administering hyaluronic acid was easy to use, safe, and did not lead to any major issues. Thus, the hyaluronic acid injection can be used to enhance lips in the Asia-Pacific population. Such efficacy of derma fillers is expected to increase the demand for lip fillers among the Asia-Pacific population, thereby propelling segment growth.

Furthermore, the rising product approval by various regulatory authorities in this region is also expected to boost the growth of the studied segment. For instance, in April 2022, China’s National Medical Products Administration (NMPA) granted marketing approval to Hugel, Inc. for its hyaluronic acid filler, the Chaeum, botox, and filler treatments across China.

India is Expected to Hold a Significant Market Share Over the Forecast Period

The Indian medical aesthetics devices market is expected to witness significant growth over the forecast period owing to the factors such as increasing awareness regarding aesthetic procedures, the rising obese population, and technological advancements in devices.

The rising awareness among the population regarding advanced aesthetic procedures is also contributing to the growth of medical aesthetic devices. For instance, according to an article published by CS Clinics in April 2021, about 1.5 million aesthetic surgeries in India are performed annually, contributing to 36.5% of global surgeries. Such a high number of aesthetic procedures performed in India is expected to boost the growth of the studied market over the forecast period. Also, rising obesity cases among the Indian population are expected to boost the demand for aesthetic devices, thereby contributing to the growth of the market. For instance, as per the UNICEF World Obesity Atlas in 2022, India is predicted to have more than 27 million obese children by 2030.

Additionally, devices for body contouring and reducing cellulite have seen substantial technological developments in recent years along with the introduction of minimally invasive procedures. The rising adoption of body contouring devices by aesthetic clinics in India is also expected to increase the demand for medical aesthetic devices due to increasing obesity cases among the population. For instance, in September 2021, Dr. Asra Khumushi's Corium Clinic - a state-of-the-art aesthetic clinic in Nagpur, India - introduced 'Evolve', a next-generation and only 3-dimensional body contouring gadget.

Asia Pacific Medical Aesthetic Devices Industry Overview

The Asia-Pacific medical aesthetic devices market is moderately consolidated and consists of major and small companies. Most of the global market players are expanding their presence in Asia-pacific through distributorship and partnership. Some of the players in the market are AbbVie (Allergan Inc.), Alma Lasers, Hologic Inc., Lumenis Inc., Sanuwave Health Inc., Sciton Inc., and Syneron Medical Ltd.

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