The changing face of beauty in Asia

Singapore is ranked as one of the world’s top destinations for plastic surgery. The IMD World Competitiveness Yearbook ranked Singapore’s Health Infrastructure 3rd out of 55 countries.

Results from a study conducted by the International Society of Aesthetics Plastic Surgery also found that the Asian region boasts the highest concentration of plastic surgeons by continent as well as the highest concentration of plastic surgery procedures carried out as compared to the rest of the continents.

Asia is a strong growth market for industry players in the aesthetics industry – with the non-invasive aesthetics segment growing the fastest.

Cosmetic procedures more widely accepted by Asian societies

Today, aesthetic procedures are losing their taboo even in traditionally more conservative countries like Singapore and Malaysia, with technological advancements constituting one factor driving its demand.

The non-invasive procedures market is experiencing the fastest growth in Asia, reflecting similar trends in the US where it accounts for the majority share of number of procedures (in terms of spending). Non-invasive tightening and laser skin resurfacing treatments such as Thermage and Fraxel are among the most popular non-surgical procedures carried out worldwide.

Evolving aesthetics market in Asia

Aesthetic practices are also evolving from one-off procedures to “family practices”. There is a growing trend to develop products for everyone in the family at all stages of their lives.

Also, cosmetic surgery was only the privilege of the very wealthy, but with today’s technology, aesthetic procedures are becoming more accessible for the mass consumer market and helping to drive growth.

Even during the recent recession, non-surgical procedures were still experiencing growth.

Rising Asian wealth accounts for strong aesthetics market growth

Rising affluence in Asia and a growing economy are contributing factors towards the region’s aesthetics industry’s growth. Across Asia-Pacific (excluding Japan), private wealth increased by 10.7% to US$23.7 trillion and The Economist reported that overall, more than 5.8 million enhancements were performed in Asia during 2010, while just over 4.5 million procedures were carried out in the U.S.

Social media an influencing factor

The Daily Mail recently featured a story on the rising trends of plastic surgery as people wanted to look better on social media applications like Skype and Facetime.

With Asia’s rising Internet and social media usage (44% of all online users are in Asia and 78% of Southeast Asian respondents own Internet-capable mobile phones), it comes as no surprise that doctors report an increase in the number of younger patients, both male and female at their clinics.

Social media has helped accelerate the speed at which consumers are absorbing the latest information about new products and treatments available in the market.

Large vibrant communities of real patients, doctors and industry professionals can be found on websites like realself.com, social media sites such as Youtube and Facebook as well as on online forums.

Instead of traditional ‘push’ messages from aesthetics companies, health authorities and industry specialists, online users today have the option of listening to other real patients who have experienced the treatments and can share their experiences with others. This new dimension of ‘learning’ offers more convincing and real scenarios to help consumers make their choice.

A growing aesthetics market

With increasing competition in today’s tough economy, many see a more youthful or aesthetically attractive appearance as a means to landing or securing a job, and often opt for non-invasive aesthetic procedures as it requires minimal or no downtime.

People are becoming more self-conscious of the way they look and are starting their awareness level at a younger age today. More teens and young adults are seeking anti-ageing treatments to arrest the ageing process as early as possible.

They are in the prime of fitness and health and would only require regular maintenance to help their skin look clearer, fresher and younger. They take a holistic approach to their beauty and skincare regimen, from homecare treatments that include daily topical creams such as moisturizers and sunblock as well as monthly facial and spa treatments.

As they age, however, their treatment requirements change and they seek more transformational treatments that may include plastic surgery to help them look younger and slimmer. Whether young or old, most people prefer to opt for non-invasive treatments to help them look slimmer.

Liposuction is not suitable for most people and with today’s advanced technology, more consumers are turning toward technologies such as Liposonix to help them achieve a slimmer look.

The aesthetics industry is catering for a widening customer base today that includes younger patients, an increasing number of males, and older customers – all of whom are becoming more receptive toward aesthetic procedures as a means to improve their quality of life and self-esteem. This contributes to an increasingly competitive aesthetics industry.

However, as consumers in Asia become increasingly more educated and sophisticated, only companies committed to long term investment in research, innovation and a focus on safety will win the lion’s share of the aesthetics market in Asia.