New York, USA, June 14, 2023 (GLOBE NEWSWIRE) -- Cosmetic Surgery Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Cosmetic Surgery Market Information By Procedure Type, End-User And Region - Forecast till 2030", the market is projected to grow from USD 48.37 billion in 2023 to USD 63.32 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.81% during the forecast period (2023 - 2030)
Market Scope
The development of innovative aesthetic devices by manufacturers has resulted in an upsurge in demand for aesthetic treatments in recent years. Cosmetic surgery is a choice patients make to reshape their bodies, improve body contouring, and enhance their outward appearance. A unique discipline of medical and non-surgical techniques is used in cosmetic procedures to enhance a person's appearance. Manufacturers' development of novel aesthetic devices has resulted in a rise in the demand for aesthetic procedures in recent years. For instance, releasing cutting-edge goods like simple body contouring systems that use fat-freezing technology is anticipated to open lucrative growth opportunities. Additionally, some cosmetic procedures are specific to one gender over the other. For example, labia majora enhancement, hymenoplasty, vaginoplasty, labiaplasty, and G-spot amplification are in the female genital surgical procedures category.
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Gynecomastia surgery is a procedure that reduces the size of the male breast. Cosmetic surgery can be performed when the body reaches its full adult size. The number of patients undergoing cosmetic surgery is fueled by the availability of cutting-edge devices and techniques for treating dermatological conditions and bettering reimbursement regulations for cosmetic procedures. Furthermore, demand for alternatives to surgery is rising as more people choose simple, painless ways to look young and healthy without complications.
Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 63.32 Billion |
| CAGR | 9.81% |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Procedure Type and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growing demand for cosmetic surgeries and minimally invasive procedures fuels market growth |
| Rising demand for invasive and non-invasive treatments |
Cosmetic Surgery Market Competitive Landscape:
- Cutera, Inc, Anika Therapeutics, Inc.
- Valeant Pharmaceuticals International Inc.
- Syneron Medical Ltd.
- Suneva Medical Inc.
- Blue Plastic Surgery
- Allergan Plc
- GC Aesthetics
- Sientra Inc
- Polytech Health & Aesthetics GmbH
- HansBiomed Co. Ltd
- Galderma SA (A Nestle Company
- Merz Pharma GmbH & Co. KGaA
- Australia Cosmetic Clinics
- Salmon Creek Plastic Surgery
- The Plastic Surgery Clinic
- Cosmetic Surgery (UK) Limited
Cosmetic Surgery Market Trends:
Market Drivers:
The rise in aesthetic procedure demand, rise in cosmetic surgery prevalence and rise in advances in technology in the healthcare industry are the main factors driving the growth of the international cosmetic surgery market share. Additionally, during the forecast period for the cosmetic surgery market, technological advancement in medical devices to produce progressed cosmetic surgical goods is anticipated to offer lucrative opportunities for market growth. Additionally, the presence of significant manufacturers of products for cosmetic surgery and an increase in spending on healthcare products fuel market expansion. Government and private sector initiatives to develop the healthcare sector fuel market expansion. Additionally, the growth of the cosmetic surgery market is driven by an increase in the number of cosmetic surgical product approvals.
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Additionally, rising aesthetic procedure demand is anticipated to help the cosmetic surgery market expand. In addition, the growing number of young females and greater awareness of skin care procedures are driving up demand for cosmetic surgery and expanding the market.
Restraints
The total number of cosmetic surgeries performed is rising due to the increasing recognition of aesthetic procedures in countries like the United States, Germany, Brazil, and others. This factor has made treatment complications more common, which has impacted market expansion. Several issues could arise during or following the cosmetic procedure. People have safety concerns, which reduces the number of people who undergo cosmetic procedures. The high costs related to cosmetic procedures have played a major role in limiting consumer demand, which has negatively affected the market's expansion.
COVID 19 Analysis
The COVID-19 pandemic has significantly impacted the market for aesthetic medicine. In the beginning, social alienation and a sudden, sharp decline in consumer income negatively affected the aesthetic medicine market. Due to factors like decreased product demand, constrained activities, temporary closures of salons for beauty services, and disruptions in the manufacturing and supply chain, the market experienced a short period of negative growth. The COVID-19 outbreak and subsequent lockdown led to a decrease in patient visits for cosmetic procedures throughout the pandemic. The non-emergency nature of cosmetic surgery procedures has significantly reduced the revenue of aesthetic businesses. The time devoted to Zoom calls has increased due to remote work, in any case. People are very conscious of their physical appearance. Requests for cosmetic surgery have increased, with Botox being one of the most popular procedures.
Cosmetic Surgery Market Segmentation
By Procedure Type the market is segmented into Invasive and Non Invasive. Invasive subsegmented into Breast Augmentation, Liposuction, Nose Reshaping, Eyelid Surgery, Tummy Tuck. Non Invasive subsegmented into Botox Injections, Soft Tissue Fillers, Chemical Peel, Laser Hair Removal, Microdermabrasion, Dermabrasion.
By End User the market of cosmetic surgery is segmented into Hospitals, Dermatology Clinics and Ambulatory Surgical Centers
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Cosmetic Surgery Market Regional Insights
The growth of the North American region is due to the existence of highly skilled plastic surgeons who perform various cosmetic procedures and the rising number of aesthetic hospitals in the United States and Canada. Furthermore, this region's growth is fueled by the widespread use of the most cutting-edge aesthetic devices currently on the market. Due to rising awareness of cosmetic procedures, Asia-Pacific, which was second in contribution to the market, is anticipated to experience the fastest CAGR throughout the forecast period. This is brought on by the rise in medical tourism demand and the growing acceptance of cutting-edge methods in different aesthetic clinics. In addition, India's cosmetic surgery market had the fastest growth rate in the Asia-Pacific region, while China's had the largest market share.
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