Global Cosmetic surgery market is estimated to be an attractive market, which is driven by advancements of technology in the medical devices and healthcare diagnostics. Factors such as increasing awareness about the aesthetic appearance, rising healthcare expenditure, and availability of easy and quick cosmetic treatment options to fulfill the demand are the driving factors of cosmetic surgery industry. According to the ASAPS (American Society for Aesthetic Plastic Surgery); in the year 2014, Americans have spent over USD 12 billion after cosmetic surgeries. Moreover, higher numbers of men are going for the aesthetic cosmetic procedures with an overall rise of 43% over the past 5 years.
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The cosmetic surgery market is segmented on the basis of product and applications. The product segment includes surgical procedures and nonsurgical procedures. According to the ASAPS, top five surgical procedures for both men and women in 2014 include breast augmentation, liposuction, eyelid surgery, nose surgery and tummy tuck. However, the top five nonsurgical procedures for both men and women combined in 2014 include hyaluronic acid, microdermabrasion, botulinum toxin injections, chemical peel, and hair removal. These shows that liposuction is the dominating market in surgical cosmetic procedures and botulinum toxin injections is the dominating market for non-surgical cosmetic procedures. However, non-surgical procedures are preferred most due to their easy handling and quick effects.
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The cosmetic surgery market is the largest in North America followed by Europe. This is mainly due to higher spending capacity and sense of self-esteem amongst the people. However, advancements in the technology used in the manufacturing of the cosmetic surgery products leads to user friendly devices and quick and effective treatments which drive the adoption rate by the population. Large base of geriatric population getting more concerned about their signs of aging is also the driving factor for cosmetic surgery industry. Asia Pacific is the fast growing segment in cosmetic surgery industry due to betterment of awareness levels amongst people and improvement in the healthcare infrastructure.
The main players contributing to the cosmetic surgery market includes Genzyme Corporation, Sanofi S.A, Valeant Pharmaceuticals International, Johnson & Johnson., Alma Lasers, Ltd., Smith & Nephew plc, Allergan, Inc., Lumenis Ltd., Genesis Biosystems, Inc., Syneron Medical Ltd., Cutera, Inc. and, Covidien plc. Advancement in the technology and use of raw materials from biological origin having better safety parameter are the major factors driving the growth of cosmetic surgery market. However, Non-surgical cosmetic products market is more attractive because of their ease of operation and fast effects leading to higher acceptance by the end users.
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