New Delhi, Oct 16 (IANS): The aesthetic injectables market in India is forecast to grow at a compound annual growth rate (CAGR) of over 5 per cent through 2030, according to a report on Monday.
With a growing population of beauty-conscious individuals, the demand for aesthetic procedures and products has witnessed a significant upswing in India in recent times.
The increased awareness of varied beauty treatments and the influence of social media are contributing to the surge in demand for aesthetic procedures in India, said the report by GlobalData, a data and analytics company.
It revealed that India currently accounts for about 1 per cent of the Asia-Pacific (APAC) aesthetic injectables market by revenue in 2023.
"Aesthetic injectables such as botulinum toxin (Botox), hyaluronic, and non-hyaluronic acid fillers are rising in popularity, due to their non-surgical and non-invasive nature. In addition, popularity is driven by successful outcomes, which can be achieved safely and quickly with less recovery time," said Ayshi Ganguly, Medical Devices Analyst at GlobalData, in a statement.
Ganguly noted that the "Covid-19 pandemic has made individuals understand their skin type and requirements and have urged them to opt for more elastic, rejuvenated, hydrated, and plump skin without having to go for any surgery.”
She stated that the rise in the growth in the Indian aesthetic injectables market is because people are "investing a portion of their disposable income in aesthetic enhancements".
The growth is in turn leading to rise in the number and variety of injectable fillers available to surgeons, Ganguly said.
"Furthermore, the use of virtual reality and artificial intelligence (AI) for precise skin-type recommendations and post-procedure monitoring is attracting a broader spectrum of customers," Ganguly said.
"With the evolution of beauty parameters and advancements in technology and regulations, the aesthetic injectables market is all set to flourish, offering an array of opportunities for both consumers and businesses alike," she added.