Attractive Prospects for Asia Pacific Aesthetics Market: Botox to Challenge Chinese Toxins
According to a new report by Millennium Research Group, this market was valued at over $90 million in 2005 and will continue to grow at a substantial rate over the next 5 years.
(PRWEB) April 10, 2006
Asia Pacific, comprised of China, Japan, South Korea, and Thailand, is experiencing a rise in patient demand for beauty and anti-aging treatments, such as botulinum toxins (BTX) and dermal fillers (particle and polymer fillers, hyaluronic acid, and collagen). According to a new report by Millennium Research Group (MRG), this market was valued at over $90 million in 2005 and will continue to grow at a substantial rate over the next 5 years. While China has the largest growth potential due to expanding disposable incomes, South Korea and Japan will also remain strong markets for facial aesthetic injectables due to their continued economic strength and high consumer spending.
The Asia Pacific market for BTX is expected to experience major change in 2006 when Botox, one of the leading cosmetic injectables in the world, is officially debuted in China. The Asia Pacific region already has multiple BTX competitors, including Lanzhou and Ipsen, which are expected to be joined by the South Korean company, Medytox, also by the end of 2006. The multiplicity of BTX competitors will maintain low regional ASPs and ensure continued revenue growth in this market over the forecast period. Aside from the strong cultural emphasis on beauty, procedures will be driven by the rising demand for unique treatments such as facial contouring. These procedures require larger volumes of toxin to achieve cosmetic results, thereby increasing unit sales.
MRG’s Asia Pacific Markets for Facial Aesthetics 2006 report is part of the Global Markets for Facial Aesthetics series, which includes analysis on US, Europe, and Latin America. The series covers various key industry competitors, such as Allergan (AGN), Contura, Inamed (IMDC), Mentor (MNT), Procytech, Q-Med, and Rofil.
About Millennium Research Group
Millennium Research Group is a leading provider of strategic information to the health care sector. Focused solely on the medical device, pharmaceutical, and biotechnology industries, the company provides its clients with the benefits of its specialized industry expertise through published reports and customized consulting services. MRG was ranked among the top 25 fastest-growing companies in Canada in both 2004 and 2005 by Profit Magazine. Visit Millennium Research Group on the Web at www. mrg. net.
If you’d like more information on this topic, or if you’d like to set up an interview with an MRG analyst, please call Amy Krohn at +1 (416) 364-7776 x101.
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