The China Aesthetic Devices Market was valued at USD 372. 04 million in 2020, and it is expected to reach USD 896. 7 million by 2026, registering a CAGR of 14. 34 % during the forecast period.
New York, July 20, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "China Aesthetic Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06106027/?utm_source=GNW
The COVID-19 pandemic has grown in magnitude, the safety of ablative resurfacing lasers, micro-needling, and dermatological surgery procedures have become questionable. Additionally, a slowing economy and reduced discretionary spending discourage customers from undergoing expensive cosmetic treatments, imposing a practical restriction. Mobile messaging and video consultations are playing a key role in maintaining continuity in aesthetic and dermatological practices. Teledermatology has certainly been a great strength for dermatologists and cosmetic practitioners alike.
Certain factors that are driving the market growth include the increasing obese population, increasing awareness regarding aesthetic procedures, rising adoption of minimally invasive devices, and technological advancement in devices.
According to the study article “Forecasting the Populations of Overweight and Obese Chinese Adults” published on National Institute of Health 2020 the prevalence rate of obese population in China is estimated to increase in both sexes in all geographic areas by 2030. In addition to the same source by the year 2030 an estimate of 50.7% urban males will be affected by obese and the number of overweight population (age between 20-89 yrs.) in China will estimated to reach 540 million.
Additionally, chinese population has high interest toward the aesthetic procedures in an urge to look beautiful. This fact is quiet evident through a recent survey that was conducted in 2019, by Shanghai Jiao Tong University, Shanghai, China. The survey was conducted on total of 596 Chinese aesthetic practitioners . This survey stated that Chinese aesthetic practitioners preferred , a straight and small nose, a heart/inverted triangular facial shape with a reduced lower face height, as well as lips that are full medially and taper off laterally with well-defined borders and Cupid’s bow.
New technologies are being developed and introduced into the market, which include the use of laser, dynamic pulse control, radiofrequency, and infrared technologies for cosmetic procedures. For instance, in October 2020, TensCare, the United Kingdom based start-up entered into Chinese market through partnership with Tmall Global, Alibaba Group’s. TensCare is a beauty brand company that offers aesthetic devices such as nail cleaning laser device. Thus all these developments in the market along with high demand of aesthetic procedures in China are the factors that are anticipated to propel market growth over the forecast period.
Key Market Trends
Dermal Fillers and Aesthetic Threads is Expected to Account for Major Market Share Over the Forecast Period
Dermal fillers, also known as soft tissue fillers, or wrinkle fillers, are medical device implants that help to create a smoother appearance in the face, including nasolabial folds, cheeks, and lips, and help to increase the volume. These injectable fillers contain materials like hyaluronic acid or collagen, which give the skin an appearance boost. Aesthetic threads are medical sutures that are injected using a needle underneath the skin, to lift and rejuvenate the skin. Along with other cosmetic procedures, fillers and threads have become popular nowadays due to their various advantages.
Due to the increase in the geriatric population and the demand to look younger, the market in China is experiencing rapid growth. Moreover, new products are also being launched in the market to capitalize on the increasing demand. For instance, in 2020, Aesthetic Medical International Holdings Group Limited, based in China has also launched the Four Beauties, a new set of hyaluronic acid-based skincare products. Many clinical trials are also being conducted in China regarding dermal fillers. This is expected to boost market growth as approval of these products would lead to their market introduction. For instance, in July 2020, LG Chem launched a confirmatory clinical trial of YVOIRE Y-Solution, its premium-grade injectable hyaluronic acid filler in China. Additionally, in August 2020, Allergan announced that the company’s Juvéderm VOLUX, an injectable dermal filler, started scale-up usage and clinical data collection plan in the Hainan Boao Medical Pilot Zone. Thus, the above factors are expected to influence the growth of the market.
China Aesthetic Devices market has rapidly evolved over the past decade. The industry has observed drastic changes in adopting market strategies such as product developments, mergers, and acquisitions in recent years. Thus, the China Aesthetic Devices market has become a very competitive industry. For instance, In November 2018, Chinese international conglomerate and investment company Fosun has acquired an Israeli aesthetic technologic device company, Medical Nova.
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