Vietnam Medical Beauty Market Research Report, 2029

Vietnam’s medical beauty market is a canvas of modern sophistication and ancient wisdom, where every treatment is a brushstroke in a masterpiece of innovation and elegance. Regional differences play an important role in setting up the Vietnamese medical beauty market. The urban cities of Ho Chi Minh City and Hanoi are normally regarded as primary hubs, with advanced clinics and international brands concentrated therein. These cities have a higher demand for premium and innovative treatments due to a more affluent consumer base. Indeed, the growth of the market in rural and secondary cities will be gradual once internet access and disposable incomes grow. While the South focuses on high-end treatments, the North acts completely opposite, focusing on nonsurgical ones. This disparity between city and countryside indicates further avenues of market development and localized service provision. Technological changes are one of the key drivers in the medical beauty market in Vietnam. Innovation in equipment, like advanced lasers and AI diagnostics, will further improve treatment effectiveness and precision. Non-invasive treatments, including ultrasound and radiofrequency devices, are gaining in popularity due to the minimal discomfort involved and the effectiveness of such procedures. Digital solutions, ranging from telemedicine consultations to AR for virtual try-ons, are increasingly affecting how customers approach medical beauty treatment. The regulatory and safety feature is of high importance in the Vietnamese medical beauty market. Clinics and practitioners should operate within the set licensing requirements by the Ministry of Health and observe the standards set forth. Assuring that medical devices and products meet required safety and effectiveness standards assures a level of consumer confidence and ensures market credibility. Safety includes protocols on quality control and practitioner training to minimize risks, hence offering quality care. According to the research report "Vietnam Medical Beauty Market Overview, 2029," published by Bonafide Research, the Vietnam medical beauty market is expected to reach a market size of more than USD 343.88 Million by 2029. There is demand for premium treatments; however, treatments are price-sensitive in the middle-income category. Legal consequences of non-compliance or impaired safety will also have a bearing on the reputation of a clinic. Increasingly high prices for advanced technologies and high-quality products could have an impact on pricing strategies and profitability. The clinics need to find a fine balance between offering competitive pricing with service quality and profitability. Innovative treatment modalities are becoming the reshape factor of the Vietnam medical beauty landscape. Technologies such as fractional lasers, HIFU technology, and radiofrequency microneedling have gained popularity because of efficacy and lesser downtime. The new treatments range from skin rejuvenation to body contouring and offer less invasive treatment options with better results. Consumers are also interested in healthy, glowing skin. This creates a demand for treatments like skin texturing and skin brightening to improve the skin's health. Services offered in this regard, such as facials, chemical peels, and advanced skincare products that make the skin hydrated and glowing, are in highest demand. Most striking, perhaps, is the trend to achieve what is described as "glass skin" is an even, transparent complexion. Regenerative medicine and stem cell therapies are gaining traction as innovative solutions in medical beauty. Treatments involving stem cells and regenerative techniques are being explored for their potential to rejuvenate skin, improve hair growth, and address other aesthetic concerns.

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The Vietnam medical beauty market is characterized by a growing demand for both invasive and non-invasive procedures, each catering to different consumer preferences and needs. Invasive procedures, which involve surgical interventions, have a significant presence in the Vietnam medical beauty market. These procedures often target more complex aesthetic concerns and aim to achieve dramatic results. Popular invasive treatments include breast augmentation, rhinoplasty (nose reshaping), and liposuction. The demand for these procedures is driven by a desire for permanent solutions and a willingness to undergo surgical risks. However, the high cost and longer recovery times associated with invasive procedures may limit their accessibility to a wider consumer base. Nonetheless, the market for invasive procedures in Vietnam is expected to grow steadily, particularly among the affluent population seeking comprehensive aesthetic solutions. Non-invasive procedures have gained substantial popularity in the Vietnam medical beauty market due to their convenience, minimal downtime, and lower risk compared to surgical options. These treatments often involve the use of advanced technologies, such as laser therapy, radiofrequency, and injectable treatments like Botox and dermal fillers. Non-invasive procedures target a wide range of aesthetic concerns, including wrinkle reduction, skin rejuvenation, body contouring, and hair removal. The increasing availability of these treatments in medical spas, dermatology clinics, and hospitals has made them more accessible to a broader consumer base. The growing awareness of non-invasive procedures and their effectiveness in achieving desired aesthetic results has further fueled their demand in the Vietnam market. The Vietnam medical beauty market is experiencing a growing demand for invasive procedures, with several popular options gaining traction among consumers. Breast augmentation is one of the most sought-after invasive procedures in Vietnam, driven by a desire for enhanced body contours and confidence. This surgical intervention involves the insertion of implants to increase the size and improve the shape of the breasts. Vietnamese consumers often opt for breast augmentation to achieve a more balanced and proportionate figure, aligning with the country's beauty standards. Liposuction is a popular invasive procedure in Vietnam, targeting localized fat deposits that are resistant to diet and exercise. This surgical technique involves the removal of excess fat from specific areas of the body, such as the abdomen, thighs, and arms, to contour and reshape the figure. Vietnamese consumers are increasingly turning to liposuction to achieve their desired body shape, particularly in areas where fat accumulation is prevalent. The procedure is often combined with other invasive treatments, such as tummy tucks, to achieve comprehensive body contouring results. Nose reshaping, or rhinoplasty, is a common invasive procedure among Vietnamese consumers, who often seek to enhance the appearance of their nose. This surgical intervention aims to alter the size, shape, or angle of the nose to create a more harmonious and aesthetically pleasing facial profile. Vietnamese consumers often opt for nose reshaping to address concerns such as a wide or bulbous nasal tip, a crooked or asymmetrical nose, or a prominent nasal hump. The procedure is particularly popular among younger generations, who are influenced by Korean beauty standards and the desire to achieve a more defined and refined nose shape. Eyelid surgery, or blepharoplasty, is another invasive procedure that has gained popularity in Vietnam. This surgical intervention aims to enhance the appearance of the eyes by removing excess skin, fat, and muscle from the upper and lower eyelids. Vietnamese consumers often seek eyelid surgery to create a more open and youthful eye appearance, aligning with the country's beauty standards. The procedure is particularly popular among those who desire a more defined and expressive eye shape, which is often associated with a more attractive and approachable appearance. The Vietnam medical beauty market is increasingly embracing non-invasive procedures, reflecting a growing consumer preference for treatments that offer aesthetic enhancements with minimal downtime and lower risks compared to surgical options. Botox injections are among the most popular non-invasive procedures in Vietnam, primarily used for reducing the appearance of fine lines and wrinkles. This treatment involves injecting botulinum toxin into specific facial muscles to temporarily relax them, resulting in a smoother, more youthful appearance. The rising awareness of Botox's effectiveness, combined with the influence of social media and beauty trends, has led to a surge in demand, particularly among younger consumers seeking preventative treatments. Soft tissue fillers are another key component of the non-invasive segment, used to add volume and enhance facial contours. Commonly used for lip augmentation, cheek enhancement, and wrinkle reduction, these fillers can provide immediate results with little to no recovery time. Chemical peels are gaining traction as a non-invasive option for improving skin texture and tone. This procedure involves applying a chemical solution to exfoliate the skin, promoting the growth of new, healthier skin cells. Chemical peels are particularly popular among consumers seeking to address issues such as acne scars, pigmentation, and signs of aging. Laser hair removal has become a sought-after solution for those looking to achieve long-term hair reduction without the hassle of traditional methods like shaving or waxing. This procedure uses concentrated light to target hair follicles, resulting in permanent hair reduction over multiple sessions. Microdermabrasion is another non-invasive treatment gaining popularity in Vietnam. This procedure involves the exfoliation of the outer layer of skin using fine crystals or a diamond-tipped wand, promoting a smoother and more radiant complexion. Microdermabrasion is often sought by consumers looking to improve skin texture, reduce fine lines, and enhance overall skin health.

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The Vietnam medical beauty market is segmented by end-users, including hospitals, specialty clinics, ambulatory surgical centers, and medical spas, each playing a vital role in delivering aesthetic and cosmetic services to consumers. Hospitals are significant players in the medical beauty market, often offering a comprehensive range of invasive and non-invasive procedures. Many hospitals in Vietnam have established specialized departments for cosmetic surgery, catering to a growing demand for procedures such as breast augmentation, liposuction, and rhinoplasty. These facilities benefit from advanced medical equipment and skilled surgeons, making them a trusted choice for patients seeking high-quality care. The influx of medical tourists from neighboring countries further enhances the role of hospitals in the aesthetic market, as they provide competitive pricing and reputable services. Specialty clinics focus specifically on aesthetic and cosmetic procedures, providing a more personalized approach to beauty treatments. These clinics often offer a variety of services, including Botox injections, soft tissue fillers, and laser treatments. The rise of specialty clinics has been fueled by the increasing consumer interest in non-invasive procedures, which require less recovery time and offer immediate results. Many of these clinics are staffed by trained professionals who specialize in cosmetic treatments, ensuring that patients receive expert care tailored to their specific needs. Ambulatory surgical centers (ASCs) are gaining popularity in Vietnam as they provide a convenient option for outpatient cosmetic procedures. These centers are equipped to handle minor surgical interventions, allowing patients to undergo procedures and return home the same day. The appeal of ASCs lies in their efficiency, lower costs, and reduced waiting times compared to traditional hospitals. Medical spas combine traditional spa services with advanced medical treatments, creating a unique environment for beauty and wellness. These establishments offer a range of non-invasive procedures, such as chemical peels, microdermabrasion, and laser hair removal, alongside relaxation therapies. The Vietnam medical beauty market is increasingly segmented by gender, with distinct trends and preferences emerging among female and male consumers. Women represent the dominant force in Vietnam's medical beauty market, accounting for a significant share of the overall demand for cosmetic procedures and products. Approximately 86% of women in Vietnam regularly use beauty products, reflecting a strong cultural emphasis on skincare and aesthetics. Women are particularly drawn to a wide range of services, including both invasive procedures like breast augmentation and non-invasive treatments such as Botox and soft tissue fillers. The influence of social media, particularly from Korean beauty trends, has further fueled this engagement, leading to a heightened demand for innovative and high-quality beauty solutions. While historically less engaged in beauty treatments, men in Vietnam are increasingly focusing on their appearance, significantly impacting the medical beauty market. The percentage of men using cosmetic products has been steadily rising, driven by changing societal norms and greater awareness of personal grooming. Men are particularly interested in non-invasive procedures such as laser hair removal, skin rejuvenation treatments, and grooming products tailored to their needs. This shift is indicative of a broader trend where male consumers are not only adopting skincare routines but also seeking aesthetic enhancements to improve their overall appearance. As a result, the market is witnessing the emergence of specialized products and services aimed at men, reflecting their growing importance as a consumer segment in the beauty industry. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029

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Aspects covered in this report • Medical Beauty market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Procedures • Invasive Procedures • Non-Invasive Procedures By Invasive Procedures • Breast Augmentation • Liposuction • Nose Reshaping • Eyelid Surgery • Tummy Tuck • Others By Non-Invasive Procedures • Botox Injections • Soft Tissue Fillers • Chemical Peel • Laser Hair Removal • Microdermabrasion • Others By End-user • Hospitals • Specialty Clinics • Ambulatory Surgical Centers • Medical Spas By Gender • Female • Male The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Medical Beauty industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.