Cosmetic Surgery Market Analysis
The cosmetic surgery market is anticipated to touch USD 21.97 billion at a 7.8% CAGR between 2017- 2023, states the recent Market Research Future (MRFR) analysis. Cosmetic surgery, simply put, is a medical disciple that focuses on improving the look using the medical and surgical technique. It is of two types- surgical and non-surgical procedures.
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Various factors are propelling the global cosmetic surgery market growth. As per the latest MRFR report, such factors include the rising number of cosmetic surgery hospitals, an increase in accidents, growing obesity, and growing safety margins. Additional factors adding market growth include the booming tourism industry, demand for cosmetic surgeries by men, technological advancements, availability of advanced materials like silicone implants, cultural and social factors like the growing influence of the fashion & film industry and media, falling cosmetic surgery price, increasing per-capita income, and rising number of surgeons that specialize in cosmetic surgery.
On the contrary, the lack of awareness, the lack of affinity to undergo procedures, high cost, social taboos against the violation of body parts, the non-essential nature, and the lack of skilled personnel are some factors that may limit the global cosmetic surgery market growth over the forecast period. Besides, the ongoing COVID-19 pandemic is also impacting the market growth.
Cosmetic Surgery Market Segmentation
The MRFR report offers an inclusive segmental analysis of the global cosmetic surgery market based on non-surgical and surgical procedures.
By non-surgical procedures, the global cosmetic surgery market is segmented into skin rejuvenation, sclerotherapy, cosmetic injectables, laser hair removal, & laser therapy of the leg veins. Cosmetic injectables are again segmented into collagen, poly-l-lactic acid, hyaluronic acid, botulinum toxin type A, and calcium hydroxyapatite. The skin rejuvenation segment is again segmented into dermabrasion, noninvasive tightening, chemical peel, Fraxel, and pulsed light laser treatment. Of these, cosmetic injectables will dominate the market over the forecast period.
Cosmetic Surgery Market Regional Analysis
Based on the region, the global cosmetics surgery market report covers the growth opportunities and recent trends across North America, Europe, the Asia Pacific, & the Middle East and Africa (MEA). Of these, North America will dominate the market over the forecast period. Rising acceptability of plastic surgery, growing awareness, use of advanced technology, and well-established healthcare system and infrastructure are adding to the global cosmetics surgery market growth in the region. The US has the maximum share in the market.
The global cosmetics surgery market in Europe is predicted to have the second-largest share over the forecast period. Advances in medical technology, the rising pool of awareness, a growing number of enthusiasts, and increasing economy are adding to the global cosmetics surgery market growth in the region.
The global cosmetics surgery market in the APAC region is predicted to grow at a fast pace over the forecast period. Developing countries considering medical tourism for better economic conditions coupled.
The global cosmetics surgery market in the MEA is predicted to have sound growth over the forecast period.
Cosmetic Surgery Market Key Players
Eminent players in the global cosmetic surgery market report include Allergan, Inc., Genesis Biosystems, Inc., Syneron Medical Ltd., Johnson & Johnson, Cutera, Inc., and Valeant Pharmaceuticals International, among others. Industry players have incorporated several strategies to stay ahead in the competition, such as mergers, partnerships, joint ventures, strategic alliances, and others.
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