Korea is a global aesthetic hub, offering a spectrum of minimally invasive and non-invasive medical aesthetic procedures. Services range from plastic surgery to unwanted hair removal, skin tightening, anti-aging treatments, excess fat removal, and body contouring. The country boasts cutting-edge technology in medical aesthetics, utilizing RF, ultrasound, laser, botulinum toxin, fillers, implants, and more. These advancements contribute significantly to the burgeoning market, making Korea a leading destination for those seeking enhancements and improvements in appearance and beauty.
Data Bridge Market Research analyzes that the Korea Aesthetics Market is expected to reach the value of USD 7,962.27 million by 2030, at a CAGR of 17.3% during the forecast period from 2023 to 2030.
"Rise in medical tourism drive the market growth"
The surge in medical tourism to Korea has significantly driven market growth, especially in aesthetic treatments. Renowned for advanced medical aesthetics, over 90% of the healthcare system operates within the private sector. The country's aesthetic surgery clinics draw a substantial number of patients annually, both domestic and international, owing to their high success rates. Korea's prominence as a medical tourism destination underscores the global appeal of its aesthetic procedures, contributing positively to the expanding market.
What restraints the growth of the Korea aesthetic market?
"Presence of unlicensed dermatologists hamper the market growth"
The presence of unlicensed dermatologists in Korea performing soft tissue filler injections raises serious concerns for patients. Increased usage of fillers by these practitioners, lacking proper expertise, leads to complications such as paralysis and blindness. Such incidents can hinder aesthetic medical tourism growth in Korea, negatively impacting the market as safety concerns may deter potential patients from seeking aesthetic procedures in the country.
Segmentation: Korea Aesthetic Market
The Korea aesthetic market is segmented on the basis of devices, application, brand, gender, end user, and distribution channel.
- On the basis of devices, the Korea aesthetic market is segmented into energy based aesthetic device and non-energy based aesthetic device
- On the basis of application, the Korea aesthetic market is segmented into surgical and non-surgical
- On the basis of brand, the Korea aesthetic market is segmented into skin lifting, botulinum toxin, dermal fillers, and others
- On the basis of gender, the Korea aesthetic market is segmented into male and female
- On the basis of end user, the Korea aesthetic market is segmented into hospitals, specialty clinics, medical spas and beauty centers, dermatology clinics, and others
- On the basis of distribution channel, the Korea aesthetic market is segmented into direct tenders and retail sales
Recent Developments: Korea Aesthetic Market
- In August 2020, BISON MEDICAL acquired patent certificates for microbeam dual mode, enhancing its revenue-generating capabilities through innovative technologies in the medical field
- In October 2020, AbbVie Inc. settled with Luminera, bolstering its product portfolio in aesthetics by incorporating dermal filler products from the Israeli-based organization
- In June 2020, BISON MEDICAL received CE approval for Oryal Filler, a hyaluronic acid-based dermal filler, fostering safety, efficacy, and efficient delivery to dermatology centers, fostering increased collaboration
To know more about the study, visit https://www.databridgemarketresearch.com/reports/korea-aesthetic-market
The Prominent Key Players Operating in the Korea Aesthetic Market Include:
- AbbVie Inc. (U.S.)
- Daewoong (South Korea)
- Galderma (Switzerland)
- Cynosure Inc. (U.S.)
- Lutronic Corporation (South Korea)
- Merz (Germany)
- HUGEL, Inc. (South Korea)
- Medytox (South Korea)
- INMODE (U.S.)
- CLASSYS Inc. (South Korea)
- Candela Medical (U.S.)
- AMIINC (Korea)
- WON TECH Co., Ltd. (South Korea)
Above are the key players covered in the report, to know about more and exhaustive list of Korea aesthetic market companies, contact: https://www.databridgemarketresearch.com/contact
Research Methodology: Korea Aesthetic Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
