Cosmetic Surgery Market Size to Worth Around USD 205.1 Bn by 2030

Ottawa, Aug. 31, 2022 (GLOBE NEWSWIRE) -- Recently Published Report on “Cosmetic Surgery Market (By Procedure, By Gender, By Age, By End User) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2030”.

The role of cosmetic surgical procedures is to enhance the aesthetic value of the particular part which has been selected for the procedure. The field of cosmetic surgical procedure mainly deals with reconstruction, modification and repair of the various human body parts in order to enhance its appearance. This market is currently expanding tremendously with the increasing demand for a perfect body or facial structure.

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With the rapid increase in modernization and urbanization various skin disorders have become prevalent in the society which require cosmetic surgical procedures for treatment. Along with modernization the food habits of the people have also altered which has increased the number of people suffering with obesity. Hence the number of cosmetic surgical procedures have increased which has boosted the market size tremendously.

Regional Snapshots

The North American region has dominated the segment as a result of the rapid technological advancements that have been observed in the field of cosmetic surgery. The increasing demand for enhanced aesthetic features among the people has also boosted the market of cosmetic surgery procedures to a great extent. The increasing number of road traffic accidents has also boosted the market for cosmetic surgical procedures. The rapidly developing tourism industry has boosted the cosmetic surgical industry in the regions of Bangkok and Miami. With the rapid advancement of the television industry the importance of perfect aesthetic features has increased tremendously which has helped to boost the size of the market for the cosmetic surgeries.

The Asia Pacific region has also shown a considerable growth under this segment as a result of the increasing demand for cosmetic surgical procedures. The availability of advanced technology and surgical setups in the developed nations like North America has boosted the market to a great extent.

Key Takeaways:

• The North America region has contributed 35.7% market share in 2021.
• By procedure, the surgical procedure segment has reached 80% revenue share in 2021.
• By gender, the female segment has contributed highest revenue share of over 84% in 2021.
• By age group, the 30 to 54 segment has hit 61% market share in 2021.
• By provider, the hospitals & clinics segment has accounted 59% market share in 2021.
  
  

Report Highlights

• On the basis of procedure, the breast augmentation segment has shown the maximum growth during the forecast period as a result of its high demand in the market.
• On the basis of gender, females have shown the maximum growth in the market as compared to the males as a result of the increasing demand for enhanced aesthetic value.
• On the basis of age group, the people belonging so 30 to 50 years of age have dominated the segment.
• On the basis of region, North America has shown the maximum growth as a result of the presence of advanced medical facilities and high demand of breast augmentation procedures.

Recent Developments

• Johnson and Johnson, in 2021, introduced a new memory gel in the form of an implant which is expected to boost the breast. It has received approval from the FDA.
  
  

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Scope of the Report

Market Dynamics

What are the drivers of cosmetic surgery market?

The cultural and social impact made by the fashion industry has proved to be a blessing for the cosmetic surgical market as it has provided encouragement to the people to opt for such procedures in order to enhance their beauty. The rapidly expanding tourism industry has boosted the demand for cosmetic surgical procedures in order to attract the customers. Media has played a major role along with the film industry to make a considerable impact on the choices of the people with respect to their preferences regarding the cosmetic surgical procedures.

The lucrative offers and schemes introduced by the key market players has also proved to be a driving factor for the growth of the market. The recent technological developments that have taken place in the cosmetic industry has also boosted the market size significantly.

Market Restraints

The lack of facilities in terms of reimbursement provided by the insurance companies with respect to these surgical procedures has proved to be a restraining factor for the growth of the market. The shortage of a disposable income in the hands of the common people has also proved to be an obstacle for the growth of the market. The occurrence of the pandemic had a negative impact on the market as a result of the restricted Services provided by the health care industries in order to avoid the risk of cross infection for the patients as well as the medical staff. The high cost which is associated with these cosmetic surgeries hampers the growth of the market as it becomes unaffordable for the common people to take benefit of these procedures. With the recent advancements seen in the procedures and equipments used, the cost of the surgical procedures also increases. These multiple reasons proved to be the restraining factors for the growth of the market during the forecast period.

Market Opportunities

With a view to enhance one's self-esteem and confidence, people opt for cosmetic surgical procedures in order to develop their aesthetic importance. The rapid advancements seen in the technology and procedures which are made use of, prove to be a great opportunity for the growth of the market during the forecast period. With the developing technology and use of advanced medicines in order to avoid the surgical scars and reduced risk of hyperpigmentation the demand for cosmetic surgical procedures have increased considerably.

The increasing expenditure on the healthcare sector made by the government in order to provide the best possible services to the people has helped to boost the market for the cosmetic surgical procedures.

The increasing capacity of the people to spend on luxuries and services has increased the demand for advanced cosmetic surgical procedures. With the growth in the tourism industry rapid demand for cosmetic procedures has been seen which helps to record a considerable growth. There's multiple reasons prove to be the opportunities for the growth of the market during the forecast period.

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What are the challenges of cosmetic surgery market?

• The increase in the number of unauthorized healthcare units and clinics that perform cosmetic surgical procedures in order to earn unaccounted profits has proved to be a challenge for the key market players which hinders their growth.
• As a result of the pandemic, the disposable income of the people was restricted which had a considerable negative impact on the growth of the cosmetic surgical market.
• The presence of numerous unavoidable side effects after the surgical procedures proves to be a great challenge for the growth of the market during the forecast period.
• Lack of standardization of the procedures and products used by the industry proves to be a challenging factor for the market. The increasing competition among the key market players also hinders the growth of the market.

Market Segmentation

By Procedure

• Surgical Procedures
  • Breast Augmentation
  • Liposuction
  • Eyelid Surgery
  • Abdominoplasty
  • Rhinoplasty
  • Others
• Non-surgical Procedures
  • Botulinum Toxin
  • Hyaluronic Acid
  • Hair Removal
  • Nonsurgical Fat Reduction
  • Photo Rejuvenation
  • Others

By Gender

• Male
• Female

By Age 

• 13 - 29
• 30 - 54
• 55 plus
  
  

By End User

• Ambulatory Surgical Facility
• Hospital and Clinic
• Others
  
  

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)
  
  

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