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Report
Japan Aesthetic Devices - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 75 Pages I Mordor Intelligence
The Japan Aesthetic Devices Market size is estimated at USD 2.36 billion in 2024, and is expected to reach USD 4.20 billion by 2029, growing at a CAGR of 12.27% during the forecast period (2024-2029).
Japan's aesthetic devices market is primarily driven by the aging population and growing demand for minimally invasive aesthetic devices. According to the International Society of Aesthetic Plastic Surgery (ISAPS) plastic surgery procedures for aesthetic purposes decreased in 2020, with surgeons experiencing temporary practice closures during the COVID-19 pandemic. However, Japan was one of the top 10 countries for procedures in 2020.
Japan has one of the highest percentages of the elderly population. The report published in December 2020 titled "Japan's aging society" stated that around 28.7% of the population in the country was 65 or older, with women forming the majority. The country is also home to a record 80 000 centenarians. By 2036, people aged 65 and over will represent a third of the population. This is the major factor in the growth of the aesthetic devices market in Japan. Other factors like increasing awareness regarding aesthetic procedures and rising adoption of technologically advanced devices have also helped propel the growth of this market.
Mergers and acquisitions are some of the key factors for the growth of the market in the country. For instance, on May 8, 2020, AbbVie completed the acquisition of Allergan. AbbVie is planning to launch Allergan Aesthetics, a global subsidiary under the umbrella of the AbbVie-Allergan merger. Such mergers bring innovations and key players in the market.
However, reimbursement issues and stringent safety regulations for aesthetic devices and procedures have dissuaded some companies from entering this market. This has, hence, acted as a restraining factor for the growth of this market.
Japan Aesthetic Devices Market Trends
Skin Resurfacing and Tightening Application is Projected to have a Significant Share
Skin resurfacing and tightening procedures are expected to grow significantly over the forecast period due to the increasing demand for cosmetic procedures, increasing aging population, and technological advancements in the development of novel devices.
It is performed to remove the blotches, scars, wrinkles, or lines on the skin that develop as a result of aging, acne, or excessive exposure to the sun, thus providing smoother and younger-looking skin.
The skin tightening treatment also promotes the growth of new collagen in the treated areas and helps in the absorption of more collagen from surrounding, untreated areas.
The study published in November 2021, titled "Experiences and attitudes toward aesthetic procedures in East Asia: a cross-sectional survey of five geographical regions", was conducted to understand the experiences of and attitudes toward aesthetic procedures in five East Asian countries/regions, including China, Japan, South Korea, Hong Kong, and Taiwan. The popularity of aesthetic procedures continues to evolve. Thus, in view of the aforementioned factors, the skin resurfacing and tightening segment is expected to witness significant growth over the forecast period.
Japan Aesthetic Devices Industry Overview
Many global players hold a substantial share in the Japanese aesthetic devices market. Japan's healthcare system is well established, and hence, companies find it easier to follow the documented guidelines. This encourages many companies to enter this market. The key market players operating in the market are AbbiVe (Allergan Inc.), Cutera Inc., Lumenis Inc., Venus Concept, and Bausch Health Companies Inc.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Awareness Regarding Aesthetic Procedures and Rising Adoption of Minimally Invasive Devices
4.2.2 Rapidly Increasing Aging Population
4.2.3 Technological Advancements
4.3 Market Restraints
4.3.1 Stringent Safety Regulations and Reimbursement Issues for Aesthetic Procedures
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Type
5.1.1 Energy-based Aesthetic Device
5.1.1.1 Laser-based Aesthetic Device
5.1.1.2 Radiofrequency (RF) Based Aesthetic Device
5.1.1.3 Light-based Aesthetic Device
5.1.1.4 Ultrasound-based Device
5.1.2 Non-energy-based Aesthetic Device
5.1.2.1 Botulinum Toxin
5.1.2.2 Dermal Fillers and Aesthetic Threads
5.1.2.3 Microdermabrasion
5.1.2.4 Implants
5.1.2.4.1 Breast Implants
5.1.2.4.2 Other Implants
5.2 By Application
5.2.1 Skin Resurfacing and Tightening
5.2.2 Body Contouring and Cellulite Reduction
5.2.3 Hair Removal
5.2.4 Facial Aesthetic Procedures
5.2.5 Breast Augmentation
5.2.6 Other Applications
5.3 By End User
5.3.1 Hospital
5.3.2 Aesthetic Centers
5.3.3 Home Settings
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 AbbVie (Allergan PLC)
6.1.2 Bausch Health Companies Inc. (Solta Medical Inc.)
6.1.3 Cutera Inc.
6.1.4 Cynosure Inc.
6.1.5 Lumenis Inc.
6.1.6 El En SpA
6.1.7 Sciton Inc
6.1.8 Venus Concept
6.1.9 Merz Pharma GmbH & Co. KGaA
6.1.10 Galderma SA
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