Updated on 18 October 2014
Negative publicity regarding facial treatments in the Asia-Pacific region concerns customers
Singapore: Decision Resources Group, which offers vital healthcare analysis and statistics, has found that the Asia Pacific market for facial injectables will hit the $1.9 billion mark by 2022.
The healthcare analytics group also stated that while the developed markets like Australia and South Korea continue to expand, the un-penetrated Chinese and Japanese markets, too will experience a boom in this sector.
Analysts also think that the medical tourism industry for facial surgeries in Korea will continue to grow due to low costs and more product availability.
However, they cautioned that consumers remained skeptical about medical services in the Asia-Pacific region due to negative publicity surrounding cases where facial injectable procedures were performed by inadequately trained or unlicensed physicians.
Mr Jeremy Seath, group senior analyst, said, "Despite low penetration of facial injectables treatments in China, the country earned maximum revenue for facial injectables across the Asia Pacific region in 2013. Manufacturers will want to capitalize on the growing demand for these products in China, creating more competition for market leaders."