Business of looking good glows with work-from-home, mask-wearing

Huge uptick in business is attributed to greater interest for such treatments here given that international travel has yet to fully resume

Published Fri, Jan 15, 2021 · 05:50 AM

Healthcare

Singapore

THE aesthetics and wellness industry is witnessing an unexpected surge in local demand for cosmetic enhancement procedures, which has made up for some of the loss of earnings from a lack of medical tourism.

A handful of Singapore-listed companies that have ventured into the aesthetic and wellness industry have benefitted from the trend as well. The cosmetic surgery market alone is estimated by a Fortune Business Insights report to be worth US$50.67 billion in 2018 and is projected to reach US$ 66.96 billion by 2026.

The huge uptick in business is attributed to the pent-up demand that is now contained here given that international travel has yet to fully resume.

MWH Medical, which operates multiple aesthetics clinics under The Aesthetics Medical Clinic and Q Aesthetics Clinic, said that its aesthetics business has seen double-digit growth compared with pre-pandemic times, with majority of customers being locals or foreigner…