07 Dec 2020
Posted in Medical Devices
Aesthetic injectables market in APAC to reach US$3.8bn in 2030, forecasts GlobalData
Driven by the growing number of aesthetic procedures, technological advancements, growing urban population, preference to non-surgical and minimally invasive procedures and better patient outcomes, the aesthetic injectables market in Asia-Pacific (APAC) is expected to reach US$3.8bn in 2030, says GlobalData, a leading data and analytics company.
GlobalData’s latest report, ‘Aesthetic Injectables (General Surgery) – Global Market Analysis and Forecast Model (COVID-19 market impact)’, reveals that hyaluronic acid fillers have become one of the most popular kinds of injectables due to their ease of use, low complication profile and high patient satisfaction. They currently account for around 75% of the aesthetic injectables market.
Pratibha Thammanabhatla, Medical Devices Analyst at GlobalData, comments: “As most aesthetic procedures are elective, COVID-19 pandemic had a major impact on the market during the second quarter of 2020. However, the market started to recover from the third quarter as several clinics began resuming elective services.”
Currently, China performs more number of aesthetic injectable procedures and dominates the APAC aesthetic injectables market, followed by Japan and South Korea. Galderma SA and AbbVie Inc are the leading players in the region, together accounting for more than 70% of the market share.
Ms Thammanabhatla concludes: “Aesthetic injectable procedures are preferred as they provide immediate outcomes with short recovery period. However, as the use of aesthetic injectables gain momentum and new products emerge, there is a need for cosmetic physicians to develop expertise on individual products available in the market, their limitations, and anatomic principles. This will result in improved outcomes while avoiding any serious complications, diversify the clinical applications and further drive the market.”