The cosmetic surgery market size became worth USD 45.5 billion in 2021 and is anticipated to reach USD 61.20 billion by 2030 at a 9.1% CAGR during the predicted period 2022-2030. The market for cosmetic surgery is developing rapidly. Technological advances and the development of sophisticated materials including silicone implants are riding the industry forward. In addition, social and cultural elements including media, fashion, and entertainment industry influences, as well as social networking applications along with Snapchat and Instagram are riding the market globally. On the other hand, the non-essential nature of cosmetic surgery, the social taboo for injuring elements of the body, and the excessive costs related to these surgeries are some of the main obstacles to the market growth of cosmetic surgery. Economic reasons which include increased per capita income and lower cosmetic surgery costs are anticipated to aid market development in the coming years.
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According to the reports, based on region, the worldwide market of cosmetic surgery is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. North America has the most important market share. In the subsequent years, the region’s market size is projected to develop steadily. The growing acceptance of cosmetic surgery and enormous knowledge are significant riding reasons behind the market’s expansion. Furthermore, considerable advances in related technologies like advanced silicone and polymer implants are propelling the region’s cosmetic surgery industry. The European region has the second-largest market share for cosmetic surgery. Some of the important reasons encouraging regional cosmetic surgery market growth consists of an improving economy and a growth in the wide variety of fans. Furthermore, rising cognizance and advancements in medical technology are favorably affecting the growth of the region’s cosmetic surgery industry.
The cosmetic surgery business in the Asia Pacific is speedy becoming a profitable market for cosmetic surgery. There is a clear shift in the beauty surgery business to APAC, with the tourist industry playing the most active role. Furthermore, better economic conditions are a key element riding the region’s cosmetic surgery industry worth, because it increases consumer spending power. India and China, in addition to other Southeast Asian countries such as Vietnam, Thailand, and Malaysia, all contribute substantially to regional market growth. Moreover, factors restraining the market are the non-essential nature of cosmetic surgery, social taboos towards the violation of body parts, the excessive cost of cosmetic surgeries in spite of the reduction, etc.
The cosmetic surgery market for anti-aging treatments is being pushed through the growing elderly population and their desire to stay appealing. Pestle & Mortar Cosmetics, a UK-based firm, introduced its hyaluronic acid-based serum in the United States.
The market is segmented based on surgery types.
The top key players in the marketplace are Johnson & Johnson, Valeant Pharmaceuticals International, Cutera Inc., Syneron Medical Ltd., Allergan Inc., and Genesis Biosystems Inc.
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