Thailand Aesthetic Medicine Market Size, Share, Trends and Forecast Report

[sara James]

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