Korea Aesthetic Market, By Devices (Energy Based Aesthetic Devices, Non Energy Based Aesthetic Devices), Application (Surgical, Non-Surgical), Brands (Skin Lifting, Botulinum Toxin, Dermal Fillers and Others), Gender (Male, Female), End User (Hospitals, Specialty Clinics, Dermatology Clinics, Medical Spas and Beauty Centers, Others), Distribution Channel (Direct Tender, Retail Sales) Industry Trends and Forecast to 2029
Korea Market Analysis and Insights: Korea Aesthetic Market
Korea aesthetic market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 16.7% in the forecast period of 2022 to 2029 and is expected to reach USD 6,658.38 million by 2029 from USD 1,976.81 million in 2021. Less cost of aesthetics treatment compared to other countries and rise in medical tourism are the major drivers which propelled the demand of the market in the forecast period.
Aesthetic are chemical procedures that aim to improve the physical appearance of the patient with the help of non-invasive to minimal invasive procedures such as liposuction, body contouring, plastic surgery and others to enhance the skin's quality. These aesthetics procedures were invented in dermatology and cosmetology to redevelop, reconstruct the facial deformities, and resolve the skin's issues related to aging processes such as wrinkles and fine lines. These aesthetic procedures are now day popular in the pharmaceutical industry and the research and development industry due to increased population demand. The main reasons for the growth of this market are rise in aging population, increase use of minimally invasive procedures, technological advancements, less disparity between men and women for aesthetic procedures. The main factors that are hindering the growth of the clinical trial supply market are the presence of unlicensed dermatologists, the social stigma, the poor reimbursement scenario and lack of skilled expertise.
The Korea aesthetic market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Korea Aesthetic Market Scope and Market Size
The Korea aesthetic market is segmented into four notable segments based on devices, application, brands, gender, end user, distribution channel.
- On the basis of device, Korea aesthetic market is segmented energy based aesthetic devices, non- energy based aesthetic devices. In 2022, non-energy based segment is dominating the market due to the increased number of clients that wants face upliftment, and body contouring, increased aesthetic consciousness in Korea and quick, easy protocol with less discomfort.
- On the basis of application, Korea aesthetic market is segmented into surgical, and non-surgical. In 2022, non-surgical is dominating the market due to better results with low cost which can restore the vitality and youth, increased investments by the major market players to develop non-surgical treatments and ease of use.
- On the basis of brands, Korea aesthetic market is segmented into skin lifting, botulinum toxin, dermal fillers, and others. In 2022, botulinum toxin is dominating the market due to most widely used aesthetic products and launch of new products.
- On the basis of gender, the Korea aesthetic market is segmented into male and female. In 2021, female is dominating the market due to increase in population who are concerned about their skin and desire to maintain their youthful skin.
- On the basis of end user, the Korea aesthetic market is segmented into hospitals, specialty clinics, medical spas & beauty centers, dermatology clinics, and others. In 2022, dermatology clinics is dominating the market due to rising number of patients with skin problems like acne, wrinkle, warts, and others
- On the basis of distribution channel, the Korea aesthetic market is segmented into direct tender and retail sales. In 2022, direct tender segment is dominating the market due to greater inventory options produced at low cost.
Strategic Initiatives by Market Players is Creating New Opportunities in the Korea Aesthetic Market
Korea aesthetic market also provides you with detailed market analysis for every country growth in Korea aesthetics sales, impact of advancement in the Korea aesthetics and changes in regulatory scenarios with their support for the Korea Aesthetic Market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Korea Aesthetic Market Share Analysis
Korea aesthetic market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Korea aesthetic market.
Some of the major companies providing aesthetics are Candela Medical, Merz North America, Inc., Allergan, INMODE, Bausch Health Companies Inc., Galderma, Cynosure (Hologic Inc.), Bison Medical, BLUECORE COMPANY, HUGEL Inc, Hironic Co. Ltd, UNION MEDICAL, WEERO, AMIINC, DAEWOONG PHARMACEUTICAL CO. LTD, CLASSYS Inc., Medytox, among others domestic and global players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launch and agreement are also initiated by the companies’ worldwide which are also accelerating the Korea aesthetic market.
For instance,
- In November 2020, Galderma Laboratories, L.P. had proclaimed the Phase 2 clinical trials of Dysport which is responsible for the use of treatment of moderate to severe frown lines between the eyebrows. This initiative by the company would result in quick product approval and rise in product portfolio. This would bring a positive growth in the company.
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