The cosmetic surgery market to grab a massive valuation of USD 21.97 at CAGR of 7.8% during the forecast period, says Market Research Future (MRFR) due to citing surging accidents, and obesity rate, along with mounting number of specialty hospitals as the top factors.
Top Drivers and Barriers
Consumers’ surging focus on remaining fit and looking younger has been favourable for the cosmetic surgery market. This is especially the trend in emerging countries, where economic standards are surging at a rapid pace. Exponential growth in the demand for liposuction, and body contouring in view of the escalating obesity rate and road accidents in both developed as well as developing economies will ensure unwavering market growth in the future. Rapid advances in the fields of cosmetology and dermatology are piquing the interest of the youth, as the focus on beauty and grooming continues to rise worldwide.
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Non-invasive as well as minimally invasive surgeries have gained high prevalence in the market, while the widespread awareness among people about the latest cosmetic procedures will foster business growth. The emergence of technically advanced and user-friendly cosmetic surgery devices and the escalating demand among men will have a tremendous impact on the worldwide cosmetic surgery market over the next couple of years.
Cosmetic Surgery Market Segmentation
With respect to surgical procedure, the cosmetic surgery industry has been considered for cosmetic ear surgery, cosmetic eyelid surgery, lipoplasty, breast augmentation, gynecomastia treatment, breast lift, and breast reduction. Currently, lipoplasty, breast augmentation, and abdominoplasty.
The non-surgical procedures are laser therapy of leg veins, laser hair removal, skin rejuvenation, sclerotherapy, as well as cosmetic injectables. Cosmetic injectables are the leading section, which has been dissected into botulinum toxin type A, calcium hydroxyapatite, poly-l-lactic acid, collagen, and hyaluronic acid. Skin rejuvenation segment comprises Fraxel, intense pulsed light laser treatment, noninvasive tightening, dermabrasion, and chemical peel.
Cosmetic Surgery Market Regional Outlook
North American will maintain relentless growth throughout the conjectured period, accounting for the biggest size out of all the regions in the worldwide cosmetic surgery market. The region’s stronghold over the global market can be credited to the massive demand for various cosmetic surgery types such as body contouring, liposuction, and many more. The widespread awareness among consumers about the latest devices and surgeries is bound to lead to further market expansion. Moreover, rapid advances in cosmetic technologies such as innovations in polymer and silicone implants and their rising demand can be a huge booster for the cosmetic surgery market growth.
Europe should maintain robust growth all through the appraisal period, with the second position in the cosmetic surgery market. The widespread demand for cosmetic surgery in line with high economic standards and the rising number of consumers focused on grooming and physical appearance would ensure the European market’s rapid development in the future. The huge advancements in medical technology further elevate the business growth in the region.
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Asia Pacific could give tough competition to other regions, emerging as a highly profitable market for cosmetic surgery. The lucrative cosmetic surgery business in the region can be accredited to the thriving medical tourism industry in India and Japan. Improving economic status in line with rising consumer spending capacity also add to the market worth in the region. India and China, coupled with various other Southeast Asian economies such as Thailand, Malaysia, and Vietnam will make huge contributions to the APAC cosmetic surgery market growth in the next few years.
Cutera, Inc., Johnson & Johnson, Genesis Biosystems Inc., Valeant Pharmaceuticals International, Allergan, Inc., Syneron Medical Ltd., are the important cosmetic surgery devices and systems companies in the market.
Sientra Inc., an eminent medical aesthetics firm focused on advanced plastic surgery, has acquired assets owned by AuraGen Aesthetic LLC, including the latter’s advanced fat grafting technology, the AuraGen 1-2-3 with AuraClens.
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