South Korea is expected to be the fastest growing country in the Asia-Pacific (APAC) region for aesthetic injectables market with a compound annual growth rate (CAGR) of around 9% between 2021-2030, driven by continuous product development, desire for appealing looks coupled with the availability of non-invasive/minimally invasive aesthetic techniques, forecasts GlobalData, a leading data and analytics company.

GlobalData’s latest report, ‘Aesthetic Injectables Market Size (Value, Volume, ASP) by Segments, Share, Trend and SWOT Analysis, Regulatory and Reimbursement Landscape, Procedures, and Forecast, 2015-2030’, reveals that Galderma and Allergan were the leading players in South Korea’s aesthetic injectables market in 2021, together contributing to about 70% of the total market. There are also many local players in the market, which could be another reason for continued market growth despite the already existing higher rate of individuals opting to undergo these procedures.

Vinita Sippy, Medical Devices Analyst at GlobalData, comments: “While in the past, botulinum toxin used to be the preferred choice of aesthetic treatment in South Korea, hyaluronic acid fillers have gained popularity mainly due to their voluminous appearance and the availability of varied duration range.”

The influence of social media, the Korean pop culture, affordability of cosmetic procedures and cosmetic surgery apps are set to further boost the number of total cosmetic procedures in the country.

Sippy concludes: “Although COVID-19 had an initial negative impact on the market as elective procedures were postponed, it was observed that the volume of cosmetic procedures increased after the relaxation of COVID-19 curbs. The increased demand was due to both new patients being interested and patients with ‘already performed cosmetic procedures’ opting for other aesthetic procedures mainly driven by reduced recovery time off work.”