For the first time in its history the Asian edition of the AMWC (The Aesthetic Medicine World Congress) took place in Taipei Taiwan on the 4-6 May. It was organized in joint collaboration between EuroMediCom, the Taiwan Dermatological Association (TDA) and the Taiwan Society for Dermatological and Aesthetic Surgery (TSDAS). Also taking place in parallel was the 6th Taiwan Dermatology Aesthetic Conference, taking place on 4-5-6 May 2018.
Why Taipei ? With its strong tendency to adopt the « LOHAS » (Lifestyle Of Health And Sustainability), Taipei boasts over 10,000 aesthetics practitioners, allying business opportunities and a highly-educated population (half of the population speaks English). Apart from advanced medical technology well-known around the world, the city of Taipei also includes a number of important associations and committees of medical aesthetics professionals working together.
For this first edition of AMWC Asia, top leaders in aesthetic dermatology from around the world came together to discuss important issues and topics in the field, with an emphasis on practical content and live demonstrations. Attendees had countless opportunities to network with their peers and learn from world-renowned experts which on day two of the congress included sessions with the latest updates in medical skincare and chemical peels and skin whitening treatments.
The growth in this sector has been particularly spectacular in the Asia-Pacific region, and research led by the IMCAS shows that global growth will mostly be led by the market of dermo-cosmetics and aesthetic dermatology in this area of the world, and this growth is forecast to continue well into the next decade. In fact, it will be essentially spearheaded by non-surgical procedures, which bring quicker results, require no general anaesthesia and greatly reduce the odds of medical complications.
Over the past few years, the world of aesthetic dermatology has witnessed impressive development : the growth has reached double-digit figures, and the Asia-Pacific market has just recently exceeded its European counterpart. In 2018, analysts anticipate that the European market will count for 23 percent of the global market, but the share devoted to the Asia-Pacific region will reach a whopping 24 percent. This record growth will average around 12 percent per year, which exceeds that of the European continent. According to an HSBC report, the overall value of the Chinese market in cosmetic surgery will double between 2014 and 2019, in just 5 years. In volume terms, the market will become the 3rd largest worldwide, with a total of 116 billion US dollars in sales.
Regarding Taiwan specifically, the figures are nothing short of impressive. The country’s market is the 4th largest in Asia, with a domestic population of 23 million inhabitants. In fact, Taiwan displays all the features of a structured and highly dynamic market in this sector, with a Taiwanese growth domestic product per capita being higher than that of developed nations such as France for example, in purchasing power parity terms.
Adding to this the fact that the supply in terms of cosmetic and aesthetic medicine predominantly comes from abroad, and 3 countries are Taiwan’s main suppliers of cosmetic and dermatology products : Japan, the United States and France. Among those nations, the French supply is particularly appreciated by Taiwanese citizens, since France is world-renowned for its expertise in this sector, and also enjoys acknowledged reputation and deserved know-how in the general beauty product market : made-in-France quality, effectiveness and sophistication consistently represent a safe bet as well as outstanding value among Taiwanese consumers.
What’s more, due the spectacular overall economic growth of the country, and as a result of the diversification of the media channels to access information, the Taiwanese consumer – female mostly- are truly well-informed and eager to discover the latest dermo-cosmetics and aesthetic dermatology treatments. Year in year out, Taiwanese women place a big importance on their skin tone and appearance and devote a growing portion of their budget to aesthetic products, and more specifically to skin care products as a result. This growth is fuelled by Taiwanese desire to attain the most perfect even looking skin.
The last key point to remember regarding this market is that the main driver for the stunning expansion of dermo-cosmetics and aesthetic dermatology in Asia was in fact medical tourism. Actually, it has grown to such an extent in this region of the world that medical tourism, mostly drawing patients from developed countries (who wish to have medical care interventions at a lower cost than in their home countries), now reaches 17 billion US dollars in volume. The dominant countries in terms of venues for medical tourism are South Korea, Taiwan and Thailand.
Taiwan’s neighbour, South Korea, is even labelled the ‘cosmetic surgery world capital’ for several reasons : first, it boasts the highest number of cosmetic surgery procedures per capita, and in 2016, the country welcomed virtually half a million visitors for the sole industry of medical tourism, which enabled the nation to register medical tourism profit of nearly 1.5 billion US dollars that year. Among the half-million of medical tourists, many of them actually came to South Korea for cosmetic and/or dermatology treatments without surgery per se.
Needless to say that NUNII Laboratoire is following the evolution of this promising market very closely and will continue to invest in the vast opportunities that this region of the world has to offer. As part our dynamic expansion NUNII will continue the launch of our new distribution partners in the region and our presence in international events such as the Taiwan Aesthetic Medicine World Congress.