South Korea Plastic Surgery Market to Grow at a CAGR of 13.20% During 2024-2032, Due to K-Beauty Standards and the Presence of Advanced Medical Facilities, Including Cosmetic Surgery

The South Korea plastic surgery market growth is driven by the increasing focus on meeting the beauty standards set by the internet and social media. Plastic surgery involves surgical procedures to repair or alter specific parts of the face or body through tissue transfer. It is utilised for treating major injuries like skin burns, large tears, and cancer, as well as for cosmetic enhancements aimed at improving the shape, size, or appearance of various body or facial features.

Fig: Countries with Estimated Number of Plastic Surgeons, 2022

The influx of foreign patients seeking medical treatment in South Korea is steadily increasing, drawing individuals from diverse regions such as Russia, Central Asia, the Middle East, the Americas, and Europe. Nearby countries like China and Japan also contribute significantly to this trend. The Ministry of Health and Welfare recently announced a goal to attract 700,000 medical tourists by 2027, offering a boost to South Korea's cosmetic surgery industry, which is recovering from the pandemic. Industry associations anticipate that approximately 15% of the government's target will consist of travelers seeking beautification procedures, potentially increasing the number of cosmetic surgery tourists from 90,000 in 2019 to a new high of 110,000.

South Korea has emerged as the global leader in plastic surgery, surpassing major markets like Greece, Brazil, and the United States. Dubbed the "plastic surgery capital of the world," one in five South Koreans has undergone cosmetic procedures, with popular surgeries including rhinoplasty, liposuction, and eyelid surgery. The country plans to streamline immigration for tourists seeking plastic surgery to ease the procedure. Television makeover programs showcasing Korean plastic surgery have further fueled interest worldwide, alongside increased internet and social media usage.

The market growth is aided by several positive trends, including the rapid expansion of medical tourism in South Korea. The country's plastic surgery market is gaining traction due to rising healthcare costs and lengthy waiting times in other countries. South Korea's appeal lies in its reputation for providing quick, affordable, efficient, safe, and high-quality healthcare services.

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Market Breakup by Procedures, Provider, and Gender:

• The market is segmented based on procedures into eyelid surgery, nose reshaping, abdominoplasty, liposuction, and breast augmentation.

• Based on provider, the market can be divided into hospital and speciality clinic, and spas and cosmetic surgery centres, among others.

• By gender, the market is segmented into male and female.

Key Findings of the Report:

• K-beauty has transformed the global skincare market, making Korea a go-to destination for skincare and haircare solutions. Interest in plastic surgery has also witnessed a significant uptick, as such procedures can boost self-esteem and confidence in people.

• The government initiatives to increase medical tourism and incentives for the plastic surgery sector is aiding the market growth.

• South Korea plans to streamline its immigration procedures for tourists seeking  cosmetic surgery, aiming to leverage the global interest in K-pop and K-beauty trends.

Key Offerings of the Report:

• The EMR report gives an overview of the South Korea plastic surgery market for the periods (2017-2023) and (2024-2032). 

• The report also offers historical (2017-2023) and forecast (2024-2032) information for the procedures, provider, and gender in the South Korean market for plastic surgery.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the South Korea plastic surgery market are Bio Plastic Surgery Clinic, VIP International Plastic Surgery Center, Merz Asia Pacific Pte. Ltd., JK Plastic Center, MediGence, MediGlobus, Vaidam, Expert Medical, Girin Plastic Surgery, Medical Korea, POP Plastic Surgery, DA Plastic Surgery, 1mm Plastic Surgery, Me Clinic Plastic Surgery, and Seoul Cosmetic Surgery, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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