31 October 2026 Published by Silicon Valley Innovation ไทย

Thai Health Business

Hospitals, clinics and wellness in Thailand

Aesthetics

Thai beauty market grows 2.7% while KLINIQ sales jump 44%

The market is crowded and slow, yet listed chain KLINIQ is growing on non-surgical treatments, even as regulators go after unregistered injectables.

By Thai Health Business Desk · · 3 min read

อ่านภาษาไทย

A rose-gold cushion foundation compact standing on folds of white satin against a peach background
A cosmetic compact photographed in Bangkok. Illustrative; it is not a clinic product.Photo by Sittinat Thurdnampetch on Unsplash

Thailand's aesthetic and cosmetic surgery market was worth about 75 billion baht in 2025 and grew 2.7%, ttb analytics estimates, down from 4% in 2024. The Klinique Medical Clinic (KLINIQ), a clinic chain listed on the Stock Exchange of Thailand, grew far faster than that.

A slow market

The ttb analytics estimate puts 2025 revenue at 75,000 million baht, against 73,000 million baht in 2024. Its explanation is that working-age women, the core customer, are close to saturation. Men and people over 50 are the growth groups. ttb says customers over 50 spend up to twice as much per person as younger ones.

KResearch gives a similar size with a different method. Its September 2025 report, as relayed by Post Today, has the market at 75,200 million baht in 2025, up 1.6%, with about 1.0% growth expected in 2026.

Margins are thin. An earlier KResearch study from February 2025 found average net profit of 2.3% in 2021 to 2023, down from 2.7% before the pandemic, with more than 2,500 competitors. It also flagged a shortage of specialists: about 500 plastic surgery practitioners in Thailand, against 2,739 in South Korea.

One chain pulling ahead

KLINIQ operated 82 branches at the end of 2025: 46 The Klinique, 27 L.A.B.X, 5 L'Clinic, 2 spas, 1 acne clinic and 1 surgery centre. Its stock exchange filing shows 2025 revenue of 3,580 million baht, up about 19%, and net profit of 363.7 million baht, up from 322.2 million baht.

Momentum picked up in 2026. First-half revenue was 2,213 million baht, up 32.93%. Third-quarter cash sales were about 1,280 million baht, up 44%, with same-store sales up 29.2%, according to a Kasikorn Securities note dated 12 October 2026 and reported by MGR Online. Cash sales differ from accounting revenue and the quarter has not been reviewed. The shares closed at 32.25 baht that day, 50.7% above the end-2025 close.

The demand shift is away from surgery. KResearch, citing ISAPS data, says non-surgical procedures done by surgeons rose from 21% of the studied procedures in 2023 to 26% in 2024. KLINIQ's chief executive, Dr Apirut Thongwat, told MGR Online that growth should not be measured by new branches alone.

Enforcement is the other story

Regulators are chasing the cheaper end. On 6 July 2026 the Consumer Protection Police and the Department of Health Service Support raided two homes in Bueng Kum, Bangkok, and Samut Prakan. Khaosod English reported that the two women, aged 31 and 25, offered Botox and filler. One advertised packages from 790 to 4,990 baht on Facebook; the other charged 1,000 to 5,000 baht a treatment. Both were charged under the Hospital Act of 1998 for letting unlicensed people practise medicine.

In May 2026 the Food and Drug Administration and the Central Investigation Bureau seized more than 35,000 items worth over 22 million baht. Khaosod English said glutathione products had been registered as cosmetics, an easier route than drug approval, and then sold to clinics as injectables.

For a licensed clinic the message is about supply chains: check that anything injected is registered as a medicine or device, not a cosmetic. The next hard data point is KLINIQ's reviewed third-quarter accounts, which will show whether the 44% cash sales rise holds in the audited numbers.

FAQ

How big is the Thai aesthetic market?

About 75 billion baht in 2025, by both ttb analytics (75,000 million baht) and KResearch (75,200 million baht). Definitions differ slightly.

How fast is it growing?

Slowly: 2.7% in 2025 by ttb's count and 1.6% by KResearch's, with about 1.0% expected for 2026.

Is it legal for a non-doctor to inject Botox in Thailand?

No. The two women arrested in July 2026 were charged under the Hospital Act of 1998 for allowing unlicensed people to practise medicine.

Sources

aesthetic clinicsKLINIQKResearchThai FDABotox

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