There has been tremendous change in the beauty industry and standards among men and women in Asia Pacific. Apart from aesthetic procedures, procedures such as warts or lesion removal, spot reduction, tattoo removal, and scar reduction are also high in demand. In the past few years, there has been significant growth in the population having tattoos; women account for 31% of this population; however, men account only for 19%. As per New Australian Tattoo Stats, 1 in 5 Australians regret having tattoos, and ~22% of the population opt for tattoo removal procedures. Further, an increase in the geriatric population raises the demand for skin rejuvenation, liposuction, and other skin-tightening procedures that provide healthy, young, and glowing skin. The developing economies have a large population base, an increase in disposable income, and rising consumer awareness and consciousness about beauty treatments and aesthetics. According to the International Society of Aesthetic Plastic Surgery, 268,536 nonsurgical cosmetic procedures were performed in India in 2020. Additionally, the rising demand for minimally invasive or nonsurgical skincare treatments is expected to create ample opportunities for the skincare treatment devices market in Asia Pacific in the coming years.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Asia Pacific Skincare treatment devices market at a substantial CAGR during the forecast period.
Asia Pacific Skincare Treatment Devices Market Segmentation
The Asia Pacific skincare treatment devices market is segmented on the basis of product, application, distribution channel, end user, and country. Based on product, the market is segmented into light/LED therapy and photo rejuvenation devices, liposuction devices, electrosurgical devices, microdermabrasion devices, laser based devices, and cryotherapy devices. In 2021, the laser based devices segment held a larger share of the market; and it is also expected to register a higher CAGR during the forecast period. Based on application, the Asia Pacific skincare treatment devices market is segmented into cellulite reduction, hair removal, skin rejuvenation, skin tightening and body contouring, and others. In 2021, the hair removal segment held the largest market share; and the skin tightening and body contouring segment is expected to register the highest CAGR in the market during the forecast period. Based on distribution channel, the Asia Pacific skincare treatment devices market is segmented into online retails, specialty stores, supermarkets/ hypermarkets, and other sales channel. In 2021, the specialty stores segment held the largest market share; and the online retails segment is expected to register the highest CAGR in the market during the forecast period. Based on end user, the market is segmented into dermatology clinics, hospitals, spas & salons, and others. In 2021, the dermatology clinics segment held a larger share of the market; and the same segment is expected to register a higher CAGR during the forecast period. Based on country, the Asia Pacific skincare treatment devices market is segmented into China, Japan, India, Australia, South Korea, and Rest of APAC. In 2021, China held the largest market share; and it is also expected to grow at the fastest CAGR during the forecast period.
Allergan Plc; Cutera, Inc.; Merz Pharma; Hologic, Inc.; Candela Medical; Panasonic Corporation; Michelson Diagnostics Ltd.; Bausch Health Companies Inc.; and Lumenis Be Ltd. are among the leading companies in the Asia Pacific skincare treatment devices market.