Japan aesthetic devices market is primarily driven by the ageing population and growing demand for minimally invasive aesthetic devices.
Japan has one of the highest percentages of the elderly population. According to World Health Organization, Japan was the world’s most aged population in 2017 with 33% of the population aged 60 or over and it is projected to remain so through 2050 where 42% of the population will be aged 60 or over. Ageing takes its toll on the skin as it starts to wrinkle with age. This is the major factor for the growth of the aesthetic devices market in Japan. Other factors like increasing awareness regarding aesthetic procedures, rising adoption technological advancements in this field of aesthetics such as more accurate and safer devices have also helped propel the growth of this market.
However, reimbursement issues and stringent safety regulations for aesthetic devices and procedures have dissuaded some companies from entering this market. This has, hence, acted as a restraining factor for the growth of this market.
Key Market Trends
Energy-based Aesthetic Device in Type of Devices Projected to Have Significant Share
- Energy-based aesthetic devices include laser-based devices, radiofrequency based devices, light-based devices, and ultrasound-based devices.
- The ability to produce highly precise and controllable effects on tissues, easy adaptability to fiberoptics, microscopes and minimally invasive delivery systems, and the potential to literally treat some conditions by shining a highly controllable beam of light (laser-based and light-based) or sound waves (ultrasound) on a specific target without touching the tissue with a solid instrument, make these devices unique.
- Furthermore, these versatile devices have been used to provide solutions for diagnostic and therapeutic problems and offer the scientist and clinician the opportunity to tailor strategies to fit specific and unique scenarios.
- Due to these advantages, the Energy-based Aesthetic Device segment is projected to have significant growth and segment is expected to grow at a notable growth rate over the forecast period.
- Morover, growing demand for the aesthetic procedures coupled with fincreasing number of hospitals offering aesthetics are projected to propel the overall market growth.
Competitive Landscape
Many global players hold substantial share Japan aesthetic devices market. Japan healthcare system is well established and hence companies find it easier to follow the documented guidelines. This encourages many companies to enter this market.
On May 8 2020, AbbVie has completed the acquisition of Allergan. AbbVie planning to launch Allergan Aesthetics, a global subsidiary under the umbrella of the AbbVie-Allergan merger.
The key market players operating in the market are AbbiVe (Allergan Inc), Cutera Inc., Lumenis Inc., Venus Concept and Bausch Health Companies Inc. among others
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