Pune, India, Dec. 13, 2023 (GLOBE NEWSWIRE) -- The cosmetic surgery market is expected to be worth USD 57.67 billion in 2023 and projected to reach USD 75.20 billion by 2030, exhibiting a CAGR of 3.9% during forecast period. The surge in cosmetic procedures is driven by widespread desire, fueled by social media, for improved facial aesthetics across diverse age groups.
Fortune Business Insights™ displays this information in a report titled, "Cosmetic Surgery Market, 2023-2030."
Key Industry Development:
June 2022 – Cynosure announced the launch of Elite iQ platform for laser hair removal and skin revitalization in the U.S., Europe, and Australia.
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Key Takeaways:
- New cosmetic clinics coming up are anticipated to drive the growth of the cosmetic surgery market in the forecasted period.
- These segments are forecasted to experience the highest Compound Annual Growth Rate (CAGR) throughout the projected period.
- In 2022, North America represented a market value of USD 17.45 billion.
- In 2022, the market was predominantly led by the 35 to 50 years segment, poised for substantial growth throughout the forecast period.
- Increasing demand for latest advanced aesthetic devices during the forecast period.
Discover the Leading Players Featured in the Report:
Bausch Health Companies Inc. (Canada), Johnson & Johnson Services, Inc. (MENTOR) (U.S.), AbbVie Inc. (U.S.), Cutera (U.S.), Merz Pharma (Germany), GALDERMA (Switzerland), Sientra, Inc. (U.S.), Cynosure (U.S.), Apyx Medical (U.S.), Long Island Plastic Surgical Group, PC (U.S.)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 3.9% |
| 2030 Value Projection | USD 75.20 Billion |
| Base Year | 2022 |
| Market Size in 2023 | USD 57.67 Billion |
| Historical Data | 2019 to 2021 |
| No. of Pages | 158 |
| Segments covered | By Procedure, Gender, Age Group, Provider, and Region |
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Segments:
Long-Term Benefits of Surgical Procedures to Boost their Demand
Categorized by procedure types, the market distinguishes between surgical and non-surgical procedures. The surgical segment, highlighted by treatments such as breast augmentation and liposuction, is expected to command a significant share in the cosmetic surgery market due to its provision of enduring benefits, sparing patients from frequent re-surgeries over short intervals.
Customers Aged 35 to 50 Years to Opt for Cosmetic Treatments Due to Demand for Non-Surgical Procedures
Based on age group, the market is segmented into 18 years & younger, 19 to 34 years, 35 to 50 years, 51 to 64 years and, 65 years & above. The 35 to 50 years segment held the largest share in the market in 2022 and is expected to witness significant growth during the forecast period due to the rising preference for non-surgical treatments such as botulinum toxin.
Females to be Main Customers for Cosmetic Treatments Due to Rising Focus on Aesthetic Appearance
On the basis of gender, the market is segmented into female and male. The female segment accounted for the largest market share in 2022 as women undergo cosmetic surgery for various purposes, such as wrinkle reduction, hair removal, and skin tightening to enhance their aesthetic appearance.
Provision of Diverse Services to Make Hospitals & Specialty Clinics Major Service Providers
Based on provider, the market is classified into hospitals & specialty clinics and spas & cosmetic surgery centers. The hospitals & specialty clinics segment captured the largest market share in 2022 as these medical centers offer a wide range of services such as non-invasive surgeries. This will help patients choose the right treatment for themselves.
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Drivers and Restraints:
Growing Emphasis on Enhancing Aesthetic Appearance to Boost Market Progress
The demand for cosmetic treatments has grown at a steady pace every year as more people are becoming aware of these procedures and often opt for them to enhance their facial features. The increasing emphasis on improving the aesthetic appearance and delay the signs of aging has prompted many people from all age groups to try out these treatments. These factors are expected to drive the market development.
Regional Insights:
North America Market to Record Strong Growth Due to Presence of Highly Qualified Surgeons
North America is poised to lead the market due to its extensive array of renowned dermatologists and plastic surgeons performing diverse cosmetic treatments. The region's growth is additionally fueled by the burgeoning count of aesthetic clinics in both the U.S. and Canada. Meanwhile, Europe secured the second-largest market share, benefitting from escalating awareness surrounding non-invasive procedures and the expansion of medical spas throughout the region.
Competitive Landscape:
Key Players to Launch Innovative Solutions to Boost their Market Presence
Bausch Health Companies Inc., AbbVie Inc., and Johnson & Johnson Services, Inc. (MENTOR) are some of the leading companies in this market. These companies have dominated the industry as they offer a vast portfolio of products and are increasing their focus on launching futuristic products in the market. The other firms in this market include GALDERMA, Cutera, Cynosure, and Merz, Pharma.
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FAQ’s
What is the market trend for cosmetic surgery?
The Cosmetic Surgery Market will exhibit a CAGR of 3.9% during the forecast period, 2023-2030.
How big is the Cosmetic Surgery Market?
The Cosmetic Surgery Market size was USD 55.68 billion in 2022. It is expected to reach USD 75.20 billion by 2030.
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