The Thailand Aesthetic Medicine Market size is anticipated to reach USD 3.45 billion by 2030, registering
a CAGR of 9.7% during the forecast period, according to a new report by Grand
View Research, Inc. The market is majorly driven by the increasing adoption of
minimally invasive and non-invasive procedures coupled with growth in the
population susceptible to signs of aging. Moreover, an increase in the
incidence of road accidents is fuelling the demand for reconstructive surgeries,
which is fuelling the growth of the market. According to the International
Society of Aesthetic Plastic Surgery (ISAPS), among Asian countries, Thailand
is among the top ten countries with the highest volume of invasive as well as
non-invasive procedures. Cities, such as Bangkok and Phuket, are major cosmetic
surgery hubs in the country, which have clusters of major aesthetic surgery
hospitals and clinics.
According to a survey by the International Society of
Aesthetic Plastic Surgery (ISAPS) in 2020, around 154,547 aesthetic procedures
were performed in the country. Moreover, Thailand is a tourism-dependent
economy where medical tourism is flourishing due to low treatment
costs and high-quality post-treatment services. According to the Journal of
Community Development Research, Thailand’s medical tourism industry expanded
with a 10% revenue growth in 2019 from 2018. These factors might boost market
growth. The advent of the COVID-19 pandemic has resulted in the cessation of
medical tourism in Thailand during the first half of 2020. However, the market
recovered significantly by 2021 and the procedural volume of aesthetic
procedures both invasive and non-invasive was higher in 2020 as compared to
2019 indicating the rising demand for aesthetic treatments in the country.
Related Press Release@ Thailand Aesthetic Medicine Market Report
Thailand Aesthetic Medicine
Market Report Highlights
- The invasive procedure type segment accounted for the largest
market share in 2021 due to the high number of medical tourists visiting
the country for aesthetic surgical procedures
- The non-invasive procedure type segment is expected to witness the
fastest CAGR during the forecast period due to minimally invasive
characteristics, immediate results, and low recovery period offered by
these procedures
- Botox injections held the largest market share in the non-invasive
procedures segment in 2021 due to the availability of wide applications
for Botox injections
- On the basis of end-use, the clinics & aesthetic centers
segment held the highest market share in 2021 owing to the fact that
aesthetic clinics are increasingly offering customized treatments at
cost-effective prices
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