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The South Korea plastic surgery market reached a value of about USD 1.95 billion during 2018-2022. The industry is further expected to grow at a CAGR of about 13.2% in the forecast period of 2023-2028. Technological developments in the field of cosmetic surgery and high K-beauty standards are expected to bolster market growth during the given forecast period.
South Korea, which is popularly referred to as the world's plastic surgery capital, has the world's highest per capita rate of cosmetic surgery. Because of advancements in medical technology and the rapid rise of social media and web-based mass media, the general public now has far more access to cosmetic surgery. Research in this area has been accelerating due to the steady rise in people seeking plastic surgery.
The popularity of modern and advanced photography, the introduction of self-observing applications, and the growing acceptability of restorative medical treatments are all responsible for the substantial increase in the volume of plastic surgery procedures. Parents would give their high school kids plastic surgery as graduation presents.
In addition, Korea's high technology, the increase in research, and the growing number of plastic surgeons have reduced the risk associated with plastic surgery. There has been a noticeable increase in a few prominent treatments, including facelift, blepharoplasty or double-eyelid surgery, jawline surgery, and rhinoplasties or nose reshaping. The continuous research and wide acceptance of plastic surgery aid in the development of the plastic surgery industry in South Korea. With many of the world's best plastic surgeons specialising in face and body alterations, South Korea has the highest rate of cosmetic treatments performed per person worldwide.
Redesigning the structure and functionality as well as enhancing the appearance of a body part is the focus of the medical speciality of plastic surgery. The origin of the term can be found in the Greek term "Plastikos," which means "fit to form." In response to rising consumer demand, the area of plastic surgery is expanding quickly.
By procedure, the market can be segmented into:
By provider, the plastic surgery market can be divided into:
By gender, the plastic surgery market can be bifurcated into:
K-beauty has completely revolutionised the skincare market. Consumers all over the world are now looking to Korea for skincare solutions. Both domestically and internationally, Korean plastic surgery is booming. Interest in plastic surgery is correlated with body image, self-esteem, personality qualities, and psychological elements. Many industries, including acting, music, modelling, and aerospace , are closely related to attractiveness on the exterior. Individuals looking for work in these fields must adhere to particular Korean beauty standards. Candidates for flight attendant positions must meet the airline's requirements for height, skin tone, and body type. Also, candidates' applications are more frequently turned down if they have tattoos, piercings, or scars on their bodies. Hence, people interested in pursuing these employment options often get plastic surgery. These industries are one of the major factors that make the plastic surgery market move on a positive trajectory. These industries are one of the major factors that make the plastic surgery market move on a positive trajectory.
The Korean Wave has had an impact beyond the local population. K-pop and K-drama have motivated numerous people worldwide to opt for plastic surgeries to enhance their beauty. Additionally, makeover programmes on television featuring the best in Korean plastic surgery are shown throughout the world. Increased internet penetration and extensive use of social media have also contributed to plastic surgery market growth.
The medical tourism business has continued to expand rapidly. Amid rising healthcare prices and lengthy wait times caused by overburdened public health systems in various nations, South Korea's plastic surgery business is gaining popularity because of the country's quick, affordable, efficient, safe, and high-quality healthcare system.
Due to the growing number of people having injectable and dermal filler operations throughout the country, the market for non-surgical procedures is increasing. Botox injections are popular among aged people and are used to lessen the appearance of facial wrinkles. Moreover, these Botox injections are also used to treat other conditions, such as cervical dystonia, overactive bladder, excessive sweating (hyperhidrosis), lazy eyes, and neck spasms.
The non-surgical procedure market is dominated by botulinum toxin and hyaluronic acid. It is anticipated that the development of technologically advanced product lines, including, for example, non-invasive body sculpting devices that utilise fat freezing technology, will create good growth potential. Increased disposable income and adoption of high living standards are also augmenting the growth of the plastic surgery market. Beauty became one of the prime concerns of the people. It affects their everyday lives and has become a cultural phenomenon in South Korea.
The report provides an in-depth research of the following prominent players in the South Korea plastic surgery market, giving a detailed understanding about the competitive landscape, capacity, and recent developments including mergers, acquisitions, and investments, capacity expansion, and plant turnarounds:
The EMR report provides a detailed assessment of the market on the basis of the Porter's five forces model, combined with a SWOT analysis.
|Scope of the Report||
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|Breakup by Procedure||
|Breakup by Provider||
|Breakup by Gender||
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Industry Opportunities and Challenges
8 South Korea Plastic Surgery Market Analysis
8.1 Key Industry Highlights
8.2 South Korea Plastic Surgery Historical Market (2018-2022)
8.3 South Korea Plastic Surgery Market Forecast (2023-2028)
8.4 South Korea Plastic Surgery Market by Procedure
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2018-2022)
22.214.171.124 Forecast Trend (2023-2028)
126.96.36.199 Breakup by Type
188.8.131.52.1 Eyelid Surgery
184.108.40.206.2 Nose Reshaping
220.127.116.11.5 Breast Augmentation
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
188.8.131.52 Breakup by Type
184.108.40.206.1 Botox Injections
220.127.116.11.2 Hair Removal
18.104.22.168.3 Chemical Peel
8.5 South Korea Plastic Surgery Market by Provider
8.5.1 Hospitals and Specialty Clinics
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
8.5.2 Spas and Cosmetic Surgery Centers
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
8.6 South Korea Plastic Surgery Market by Gender
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
9 Market Dynamics
9.1 SWOT Analysis
9.2 Porter’s Five Forces Analysis
9.2.1 Supplier’s Power
9.2.2 Buyer’s Power
9.2.3 Threat of New Entrants
9.2.4 Degree of Rivalry
9.2.5 Threat of Substitutes
9.3 Key Indicators for Demand
9.4 Key Indicators for Price
10 Competitive Landscape
10.1 Market Structure
10.2 Company Profiles
10.2.1 Bio Plastic Surgery Clinic
10.2.1.1 Company Overview
10.2.1.2 Product Portfolio
10.2.1.3 Demographic Reach and Achievements
10.2.2 VIP International Plastic Surgery Center
10.2.2.1 Company Overview
10.2.2.2 Product Portfolio
10.2.2.3 Demographic Reach and Achievements
10.2.3 Merz Asia Pacific Pte. Ltd.
10.2.3.1 Company Overview
10.2.3.2 Product Portfolio
10.2.3.3 Demographic Reach and Achievements
10.2.4 JK PLASTIC Center
10.2.4.1 Company Overview
10.2.4.2 Product Portfolio
10.2.4.3 Demographic Reach and Achievements
11 Industry Events and Developments
List of Key Figures and Tables
1. South Korea Plastic Surgery Market: Key Industry Highlights, 2018 and 2028
2. South Korea Plastic Surgery Historical Market: Breakup by Procedure (USD Million), 2018-2022
3. South Korea Plastic Surgery Market Forecast: Breakup by Procedure (USD Million), 2023-2028
4. South Korea Plastic Surgery Historical Market: Breakup by Provider (USD Million), 2018-2022
5. South Korea Plastic Surgery Market Forecast: Breakup by Provider (USD Million), 2023-2028
6. South Korea Plastic Surgery Historical Market: Breakup by Gender (USD Million), 2018-2022
7. South Korea Plastic Surgery Market Forecast: Breakup by Gender (USD Million), 2023-2028
8. South Korea Plastic Surgery Market Structure
In 2021, the South Korea plastic surgery market attained a value of nearly USD 1.95 billion.
The market is projected to grow at a CAGR of 13.2% between 2023 and 2028.
Increasing disposable income, popularity of K-beauty standards, excellent internet penetration, increasing use of social media, influence of the entertainment industry, social acceptance of plastic surgery, and easy access are the major industrial drivers.
Increasing trend of medical tourism, growing medical technology, and rising demand of non-surgical procedures are the key trends.
The dominant type of plastic surgery in the industry are surgical and non-surgical.
The major players in the industry are Bio Plastic Surgery Clinic, VIP International Plastic Surgery Center, Merz Asia Pacific Pte. Ltd., And JK Plastic Surgery Center, among others.
The South Korea plastic surgery market attained a value of USD 1.95 billion in 2021, driven by the celebrity influence and high K-beauty standards. Aided by the growing medical technological advancements, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 13.2%.
EMR’s report gives a comprehensive and detailed research on the market, covering all the aspects of the market. Based on its types, the South Korea plastic surgery industry can be segmented into surgical and non-surgical. On the basis of gender, the plastic surgery market of South Korea can be divided into female and male, with female sector accounts for the largest share in the industry. Based on provider, the South Korea plastic surgery market can be segmented into Hospitals and Specialty Clinics and Spas and Cosmetic Surgery Centres. The key players in the above market include Bio Plastic Surgery Clinic, VIP International Plastic Surgery Centre, Merz Asia Pacific Pte. Ltd., And JK Plastic Surgery Center, among others.
EMR reports are prepared with the assistance of advanced analytical tools and the expertise of their highly accomplished team. The report provides our clients with market insights which are precise, actionable, and help them strengthen their position in the competitive market.
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