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Considering all these factors the market for cosmetic surgery is expected to reach $ 21.97 billion by the end of 2023, this market is projected to growing at a CAGR of ~7.8% during 2017-2023.
The report titled “Cosmetic Surgery Market -Forecast to 2023″ is a direct appreciation by Market Research Future of the market potential of the Cosmetic Surgery Market. The report intends to provide accurate and meaningful insights, both quantitative as well as qualitative. It can be said with high confidence level, that this report will satisfy the need for comprehensive insights needed to compete and beat other players in today’s winner takes all market!
Global Cosmetic Surgery Market– Overview
Cosmetic surgeries are elective and are undertaken by the patients to improve their physical appearance for purely aesthetic purposes. Cosmetic surgery is not considered essential in the medical terms. However, many patients choose this type of surgery due to emotional benefits. Cosmetic surgery visually improves the areas that the individual wants to alter as per wishes. Some of the common surgical procedure for cosmetics are inclusive of liposuction, tummy tucks, breast augmentation, face lifts, rhinoplasty, and others. Increasing expenses on cosmetics, growing procedures for liposuction are estimated to be the major drivers for the market growth during the forecast period. According to the Cosmetic Physicians College of Australasia in 2015, the Australians spent approximately USD 890 million on minimally or non-invasive cosmetic procedures. The estimated rise was of 5% from 2014. Moreover, in 2016, according to the International Society of Aesthetic Plastic Surgery, an estimated 18,447 liposuction procedures were performed in the Chinese Taipei, accounting for 1.3% of the total surgical liposuction procedures across the globe. Moreover, it was estimated that India stood third in liposuction procedures, representing 5.0% of the total liposuction procedures performed in the world. However, high procedural cost and procedure related side effects is estimated to restrain the market growth during the forecast period. The cost of breast augmentation is high. In India, it is estimated to cost around USD 1,200 to USD 2,200, depending upon the type of augmentation. Moreover, within the region liposuction can cost from USD 550 to USD 2,600.
The Global Cosmetic Surgery Market is expected to grow at an approximate CAGR of 7.8%, during the forecast period, i.e. from 2017 to 2023.
Global Cosmetic Surgery Market – Key Drivers:
Johnson & Johnson, Valeant Pharmaceuticals International, Cutera, Inc., Syneron Medical Ltd., Allergan, Inc., Genesis Biosystems, Inc. and others are some of the prominent players at the forefront of competition in the Global Cosmetic Surgery Market and are profiled in MRFR Analysis.
Global Cosmetic Surgery Market- Competitive Analysis:
Degree of competition is considered to have a medium impact on the market. Competitive rivalry is used to evaluate the capability and the level of rivalry among the existing competitors of the market. It is also referred for the extent to which firms within the market puts pressure on one another and limits others profit potential. A large number of players are in this market which follow the strategy of product launches, acquisition and collaboration.
In July, 2016- Johnson & Johnson announced that the company has successfully completed the acquisition of Vogue International LLC which is a privately-held company and is focused on the marketing, research and development and distribution of salon-influenced and nature inspired hair care and other personal care products for an estimated amount of USD 3.3 billion in cash.
In February-2018, At the American Academy of Dermatology (AAD) Annual Conference, Cutera, is showcased the Secret RF, radio frequency microneedling system and Juliet, Er:YAG 2940 nm laser for women intimate health. Moreover, their portfolio of leading laser and energy-based aesthetic systems was also showcased.
In March 3, 2016- Syneron Medical Ltd. announced the launch of three new product during the 2016 American Academy of Dermatology (AAD) meeting. The launches included the new CO2RE Intima system for gynaecological, genitourinary indications product, i.e., PicoWay laser wavelength and the Profound SubQ. With these launches, Syneron Medical Ltd. reaffirmed its best-in-class product suite and continued to address the needs of the aesthetics.
In February, 2018- Allergan plc, and Medicines360, a global non-profitable women’s health pharmaceutical company expanding their access with a mission to provide quality medicines and announced that the U.S. Food and Drug Administration (FDA) accepted the filing for Medicines360’s supplemental New Drug Application (sNDA).
Global Cosmetic Surgery Market – Regional Analysis
The Americas holds the largest Cosmetic Surgery Market. This can be attributed to a well-developed healthcare sector, rising healthcare expenditure, and presence of the developed economies within the region. Europe holds the second position in the market. On regional basis Europe is divided into Western Europe and Eastern Europe. Western Europe is leading the market owing to the presence of the developed economies like Italy, France, Germany and others. On the other hand, Asia Pacific is estimated to be the fastest growing region in the market. The Middle East & Africa holds the least market share owing to the presence of low income countries and stringent government policies within the African region.
Global Cosmetic Surgery Market – Intended Audience:
- Global Cosmetic Surgery providers, manufacturers & suppliers
- Research and development (R&D) companies
- Market research and consulting service providers
- Academic institutes and universities
Global Cosmetic Surgery Market – Segments:
The Global cosmetic surgery market is segmented on the basis of surgery type. Based on the surgery type, the market has been segmented as liposuction, eyelid and nose surgery, body contouring, facial reconstruction, cosmetic implants and others. The body contouring segment is further sub segmented into tummy tuck, breast lift, others. Similarly the cosmetic implants segment is sub segmented into breast augmentation, buttock implants, chin & cheek implants.
Global Cosmetic Surgery Market – Market Assessment:
The report for Global Cosmetic Surgery Market by Market Research Future comprises of extensive primary research along with the detail analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of current market scenario which includes past and estimated future market size with respect to value and volume, technological advancement, macro economical and governing factors in the market. The report provides detail information about and strategies used by top key players in the industry. The report also gives a broad study of the different market segments and regions.
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