Korea Aesthetic Market - Industry Trends and Forecast to 2030

List of Tables

Korea aesthetics market is expected to reach USD 7,962.27 thousand by 2030 from USD 2,260.54 thousand in 2022, growing at a CAGR of 17.3% in the forecast period of 2023 to 2030.

Market Segmentation

Korea Aesthetics Market, By Device (Energy Based Aesthetic Devices, Non Energy Based Aesthetic Devices), By Application (Surgical, Non- Surgical), By Brands (Skin Lifting, Botulinum Toxin, Dermal Fillers), By Gender (Male, Female), By End-User (Hospitals, Specialty Clinics, Dermatology Clinics, Medical Spas and Beauty Centers, Others), By Distribution Channel (Direct Tender, Retail Sales), country (Korea) - Industry Trends and Forecast to 2030.

Overview of Korea Aesthetics Market Dynamics

Drivers
Less cost of aesthetic treatments in comparison to other countries.
Rise in medical tourism
Restrains
Strict regulatory guidelines
Opportunity
Strategic initiatives by market players

Market Players

The key market players for Korea Aesthetics market are listed below:

AbbVie Inc.
Daewoong Open Collaboration
Galderma
Cynosure Inc
Lutronic Corporation
Merz
HUGEL, Inc.
Medytox
INMODE
CLASSYS Inc.
Candela Medical
AMIINC
WON TECH Co., Ltd.
UNIONMEDICAL Co.,Ltd.
Bausch Health Companies Inc.
BISON MEDICAL
Bluecore Company
Hironic Co. Ltd.
WEERO

1 INTRODUCTION 11

1.1 OBJECTIVES OF THE STUDY 11
1.2 MARKET DEFINITION 11
1.3 OVERVIEW OF THE KOREA AESTHETIC MARKET 11
1.4 CURRENCY AND PRICING 12
1.5 LIMITATIONS 12
1.6 MARKETS COVERED 13

2 MARKET SEGMENTATION 16

2.1 MARKETS COVERED 16
2.2 GEOGRAPHICAL SCOPE 17
2.3 YEARS CONSIDERED FOR THE STUDY 17
2.4 DBMR TRIPOD DATA VALIDATION MODEL 18
2.5 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 21
2.6 MULTIVARIATE MODELLING 22
2.7 DEVICES SEGMENT LIFELINE CURVE 22
2.8 MARKET END USER COVERAGE GRID 23
2.9 DBMR MARKET POSITION GRID 24
2.10 VENDOR SHARE ANALYSIS 26
2.11 SECONDARY SOURCES 27
2.12 ASSUMPTIONS 27

3 EXECUTIVE SUMMARY 28

4 PREMIUM INSIGHTS 30

4.1 PESTEL ANALYSIS 31
4.2 PORTER'S FIVE FORCES 32

5 KOREA AESTHETIC MARKET: REGULATORY FRAMEWORK 33

5.1 COMPETENT REQUIREMENTS TO PERFORM AESTHETIC PROCEDURES 33
5.2 REGULATION OF THE BEAUTY DOMAIN FOR PERFORMING AESTHETIC SERVICES 33
5.3 REGULATION OF COSMETIC-RELATED MEDICAL DEVICES 33
5.4 REGULATION OF AMBULATORY AMENITIES WHERE THE AESTHETIC PROCEDURES ARE PERFORMED 34
5.5 PROTECTION OF INDIVIDUALS UNDERGOING THE AESTHETIC PROCEDURE 34

6 MARKET OVERVIEW 35

6.1 DRIVERS 37
- 6.1.1 LESSER COST OF TREATMENT FOR MEDICAL AESTHETICS 37
- 6.1.2 RISE IN MEDICAL TOURISM IN KOREA 37
- 6.1.3 INCREASING AWARENESS ABOUT MEDICAL AESTHETICS 37
- 6.1.4 INCREASING USE OF MINIMALLY INVASIVE AND NON-INVASIVE PROCEDURES 38
6.2 RESTRAINTS 39
- 6.2.1 PRESENCE OF UNLICENSED DERMATOLOGISTS 39
- 6.2.2 SOCIAL STIGMA REGARDING AESTHETICS 39
- 6.2.3 INADEQUATE REIMBURSEMENT DEVELOPMENT 40
6.3 OPPORTUNITIES 41
- 6.3.1 STRATEGIC INITIATIVES BY THE MARKET PLAYERS 41
- 6.3.2 INCREASING RESEARCH AND DEVELOPMENT 41
- 6.3.3 TECHNOLOGICAL ADVANCEMENTS FOR AESTHETIC TREATMENT 42
6.4 CHALLENGES 42
- 6.4.1 LACK OF SKILLED EXPERTISE 42
- 6.4.2 SIDE EFFECTS ASSOCIATED WITH USE OF DERMAL FILLERS 42
- 6.4.3 APPROVALS OF STRINGENT PRODUCTS 43

7 KOREA AESTHETIC MARKET, BY DEVICES 44

7.1 OVERVIEW 45
7.2 NON ENERGY BASED AESTHETIC DEVICES 46
- 7.2.1 BOTULINUM TOXIN 46
- 7.2.2 DERMAL FILLERS AND AESTHETIC THREADS 46
- 7.2.3 IMPLANTS 46
- 7.2.4 MICRODERMABRASION 47
- 7.2.5 CHEMICAL PEELS 47
- 7.2.6 OTHERS 47
7.3 ENERGY BASED AESTHETIC DEVICES 47
- 7.3.1 LASER BASED AESTHETIC DEVICES 47
- 7.3.2 ULTRASOUND AESTHETIC DEVICES 47
- 7.3.3 RADIOFREQUENCY (RF) BASED AESTHETIC DEVICES 48
- 7.3.4 LIGHT BASED AESTHETIC DEVICES 48
- 7.3.5 OTHERS 48

8 KOREA AESTHETIC MARKET, BY APPLICATION 49

8.1 OVERVIEW 50
8.2 NON-SURGICAL 51
- 8.2.1 BODY CONTOURING 51
- 8.2.2 NON INVASIVE FAT REDUCTION 51
- 8.2.3 SKIN TIGHTENING 51
- 8.2.4 ACNE TREATMENTS 51
- 8.2.5 HAIR REMOVAL 52
- 8.2.6 TATTOO REMOVAL 52
- 8.2.7 OTHERS 52
8.3 SURGICAL 52
- 8.3.1 FACE & HEAD SURGERY 52
  - 8.3.1.1 FACELIFT 53
  - 8.3.1.2 BROW LIFT 53
  - 8.3.1.3 FACIAL BONE CONTOURING 53
  - 8.3.1.4 NECK LIFT 53
  - 8.3.1.5 OTHERS 53
- 8.3.2 BREAST SURGERY 53
  - 8.3.2.1 BREAST AUGMENTATION 53
  - 8.3.2.2 BREAST LIFT 53
- 8.3.3 BODY & EXTREMITIES SURGERY 54
  - 8.3.3.1 LIPOSUCTION 54
  - 8.3.3.2 LOWER BODY LIFT 54
  - 8.3.3.3 THIGH LIFT 54
  - 8.3.3.4 UPPER ARM LIFT 54
  - 8.3.3.5 OTHERS 54

9 KOREA AESTHETIC MARKET, BY BRANDS 55

9.1 OVERVIEW 56
9.2 BOTULINUM TOXIN 57
- 9.2.1 NABOTA 57
- 9.2.2 BOTOX 57
- 9.2.3 BOTULAX 57
- 9.2.4 MEDITOXIN 58
- 9.2.5 XEOMIN 58
- 9.2.6 OTHERS 58
9.3 DERMAL FILLER 58
- 9.3.1 JUVEDERM 58
- 9.3.2 RESTYLANE 58
- 9.3.3 BELOTERO 58
- 9.3.4 CHAEUM 58
- 9.3.5 OTHERS 59
9.4 SKIN LIFTING 59
- 9.4.1 INMODE 59
- 9.4.2 ULTHERA 59
- 9.4.3 ULTRAFORMER III 59
- 9.4.4 THERMAGE 59
- 9.4.5 OTHERS 59
9.5 OTHERS 59

10 KOREA AESTHETIC MARKET, BY GENDER 60

10.1 OVERVIEW 61
10.2 FEMALE 62
10.3 MALE 62

11 KOREA AESTHETIC MARKET, BY END USER 63

11.1 OVERVIEW 64
11.2 DERMATOLOGY CLINICS 65
11.3 HOSPITALS 65
11.4 SPECIALTY CLINICS 65
11.5 MEDICAL SPAS & BEAUTY CENTERS 65
11.6 OTHERS 65

12 KOREA AESTHETIC MARKET, BY DISTRIBUTION CHANNEL 66

12.1 OVERVIEW 67
12.2 DIRECT TENDER 68
12.3 RETAIL SALES 68

13 KOREA AESTHETIC MARKET: COMPANY LANDSCAPE 69

13.1 KOREA AESTHETIC MARKET (WITHOUT GLOBAL BASE): COMPANY LANDSCAPE 70

14 SWOT ANALYSIS 71

15 COMPANY PROFILE 72

15.1 ABBVIE INC. 72
- 15.1.1 COMPANY SNAPSHOT 72
- 15.1.2 REVENUE ANALYSIS 72
- 15.1.3 PRODUCT PORTFOLIO 73
- 15.1.4 RECENT DEVELOPMENTS 73
15.2 DAEWOONG OPEN COLLABORATION 75
- 15.2.1 COMPANY SNAPSHOT 75
- 15.2.2 REVENUE ANALYSIS 75
- 15.2.3 PRODUCT PORTFOLIO 76
- 15.2.4 RECENT DEVELOPMENTS 76
15.3 GALDERMA 78
- 15.3.1 COMPANY SNAPSHOT 78
- 15.3.2 PRODUCT PORTFOLIO 78
- 15.3.3 RECENT DEVELOPMENTS 78
15.4 CYNOSURE INC 80
- 15.4.1 COMPANY SNAPSHOT 80
- 15.4.2 PRODUCT PORTFOLIO 80
- 15.4.3 RECENT DEVELOPMENTS 81
15.5 LUTRONIC CORPORATION 82
- 15.5.1 COMPANY SNAPSHOT 82
- 15.5.2 PRODUCT PORTFOLIO 82
- 15.5.3 RECENT DEVELOPMENTS 82
15.6 AMIINC 84
- 15.6.1 COMPANY SNAPSHOT 84
- 15.6.2 PRODUCT PORTFOLIO 84
- 15.6.3 RECENT DEVELOPMENTS 84
15.7 BAUSCH HEALTH COMPANIES INC. 85
- 15.7.1 COMPANY SNAPSHOT 85
- 15.7.2 REVENUE ANALYSIS 85
- 15.7.3 PRODUCT PORTFOLIO 86
- 15.7.4 RECENT DEVELOPMENTS 86
15.8 BISON MEDICAL 87
- 15.8.1 COMPANY SNAPSHOT 87
- 15.8.2 PRODUCT PORTFOLIO 87
- 15.8.3 RCENT DEVELOPMENTS 87
15.9 BLUECORE COMPANY 89
- 15.9.1 COMPANY SNAPSHOT 89
- 15.9.2 PRODUCT PORTFOLIO 89
- 15.9.3 RECENT DEVELOPMENTS 89
15.10 CANDELA CORPORATION 90
- 15.10.1 COMPANY SNAPSHOT 90
- 15.10.2 PRODUCT PORTFOLIO 90
- 15.10.3 RECENT DEVELOPMENT 90
15.11 CLASSYS INC. 91
- 15.11.1 COMPANY SNAPSHOT 91
- 15.11.2 PRODUCT PORTFOLIO 91
- 15.11.3 RECENT DEVELOPMENTS 91
15.12 HUGEL, INC. 92
- 15.12.1 COMPANY SNAPSHOT 92
- 15.12.2 REVENUE ANALYSIS 92
- 15.12.3 PRODUCT PORTFOLIO 93
- 15.12.4 RECENT DEVELOPMENTS 93
15.13 HIRONIC CO., LTD. 94
- 15.13.1 COMPANY SNAPSHOT 94
- 15.13.2 PRODUCT PORTFOLIO 94
- 15.13.3 RECENT DEVELOPMENTS 95
15.14 INMODE 96
- 15.14.1 COMPANY SNAPSHOT 96
- 15.14.2 REVENUE ANALYSIS 96
- 15.14.3 PRODUCT PORTFOLIO 97
- 15.14.4 RECENT DEVELOPMENTS 97
15.15 MEDYTOX 99
- 15.15.1 COMPANY SNAPSHOT 99
- 15.15.2 PRODUCT PORTFOLIO 99
- 15.15.3 RECENT DEVELOPMENT 100
15.16 MERZ NORTH AMERICA, INC. (A SUBSIDIARY OF MERZ PHARMA) 101
- 15.16.1 COMPANY SNAPSHOT 101
- 15.16.2 PRODUCT PORTFOLIO 101
- 15.16.3 RECENT DEVELOPMENTS 101
15.17 UNIONMEDICAL CO.,LTD. 103
- 15.17.1 COMPANY SNAPSHOT 103
- 15.17.2 PRODUCT PORTFOLIO 103
- 15.17.3 RECENT DEVELOPMENTS 103
15.18 WEERO 104
- 15.18.1 COMPANY SNAPSHOT 104
- 15.18.2 PRODUCT PORTFOLIO 104
- 15.18.3 RECENT DEVELOPMENT 104
15.19 WON TECH CO., LTD. 105
- 15.19.1 COMPANY SNAPSHOT 105
- 15.19.2 PRODUCT PORTFOLIO 105
- 15.19.3 RECENT DEVELOPMENTS 105

16 QUESTIONNAIRE 106

17 RELATED REPORTS 109

LIST OF TABLES

TABLE 1 KOREA AESTHETIC MARKET, BY DEVICES, 2021-2030 (USD MILLION) 46
TABLE 2 KOREA NON ENERGY BASED AESTHETIC DEVICES IN AESTHETIC MARKET, BY DEVICES, 2021-2030 (USD MILLION) 46
TABLE 3 KOREA ENERGY BASED AESTHETIC DEVICES IN AESTHETIC MARKET, BY DEVICES, 2021-2030 (USD MILLION) 47
TABLE 4 KOREA AESTHETIC MARKET, BY APPLICATION, 2021-2030 (USD MILLION) 51
TABLE 5 KOREA NON- SURGICAL IN AESTHETIC MARKET, BY APPLICATION, 2021-2030 (USD MILLION) 51
TABLE 6 KOREA SURGICAL IN AESTHETIC MARKET, BY APPLICATION, 2021-2030 (USD MILLION) 52
TABLE 7 KOREA FACE & HEAD SURGERY IN AESTHETIC MARKET, BY APPLICATION, 2021-2030 (USD MILLION) 52
TABLE 8 KOREA BREAST SURGERY IN AESTHETIC MARKET, BY APPLICATION, 2021-2030 (USD MILLION) 53
TABLE 9 KOREA BODY & EXTREMITIES SURGERY IN AESTHETIC MARKET, BY APPLICATION, 2021-2030 (USD MILLION) 54
TABLE 10 KOREA AESTHETIC MARKET, BY BRANDS, 2021-2030 (USD MILLION) 57
TABLE 11 KOREA BOTULINUM TOXIN IN AESTHETIC MARKET, BY BRANDS, 2021-2030 (USD MILLION) MILLION) 57
TABLE 12 KOREA DERMAL FILLER IN AESTHETIC MARKET, BY BRANDS, 2021-2030 (USD MILLION) 58
TABLE 13 KOREA SKIN LIFTING IN AESTHETIC MARKET, BY BRANDS, 2021-2030 (USD MILLION) 59
TABLE 14 KOREA AESTHETIC MARKET, BY GENDER, 2021-2030 (USD MILLION) 62
TABLE 15 KOREA AESTHETIC MARKET, BY END USER, 2021-2030 (USD MILLION) 65
TABLE 16 KOREA AESTHETIC MARKET, BY DISTRIBUTION CHANNEL, 2021-2030 (USD MILLION) 68

LIST OF FIGURES

FIGURE 1 KOREA AESTHETIC MARKET: SEGMENTATION 16
FIGURE 2 KOREA AESTHETIC MARKET: DATA TRIANGULATION 18
FIGURE 3 KOREA AESTHETIC MARKET: DROC ANALYSIS 19
FIGURE 4 KOREA AESTHETIC MARKET: COUNTRY VS REGIONAL MARKET ANALYSIS 20
FIGURE 5 KOREA AESTHETIC MARKET: COMPANY RESEARCH ANALYSIS 20
FIGURE 6 KOREA AESTHETIC MARKET: INTERVIEW DEMOGRAPHICS 21
FIGURE 7 KOREA AESTHETIC MARKET: MARKET END USER COVERAGE GRID 23
FIGURE 8 KOREA AESTHETIC MARKET: DBMR MARKET POSITION GRID 24
FIGURE 9 KOREA AESTHETIC MARKET: VENDOR SHARE ANALYSIS 26
FIGURE 10 KOREA AESTHETIC MARKET: SEGMENTATION 29
FIGURE 11 LESSER COST OF TREATMENT FOR MEDICAL AESTHETICS AS COMPARED TO OTHER COUNTRIES ARE EXPECTED TO DRIVE THE GROWTH OF THE KOREA AESTHETIC MARKET FROM 2023 TO 2030 30
FIGURE 12 NON ENERGY BASED AESTHETIC DEVICE SEGMENT IS EXPECTED TO ACCOUNT FOR THE LARGEST SHARE OF THE KOREA AESTHETIC MARKET IN 2023 AND 2030 30
FIGURE 13 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES OF THE KOREA AESTHETIC MARKET 36
FIGURE 14 KOREA AESTHETIC MARKET: BY DEVICES, 2022 45
FIGURE 15 KOREA AESTHETIC MARKET: BY APPLICATION, 2022 50
FIGURE 16 KOREA AESTHETIC MARKET: BY BRANDS, 2022 56
FIGURE 17 KOREA AESTHETIC MARKET: BY GENDER, 2022 61
FIGURE 18 KOREA AESTHETIC MARKET: BY END USER, 2022 64
FIGURE 19 KOREA AESTHETIC MARKET: BY DISTRIBUTION CHANNEL, 2022 67
FIGURE 20 KOREA AESTHETIC MARKET: COMPANY SHARE 2022 (%) 69
FIGURE 21 KOREA AESTHETIC MARKET (WITHOUT GLOBAL BASE): COMPANY SHARE 2022 (%) 70