According to the latest reports published by Market Research Future (MRFR), the Global Cosmetic Surgery Market will grow at 7.8% CAGR and reach a market valuation of USD 21.97 Bn by 2023. The social and cultural factors such as the influence of media, fashion and film industry, peer pressure for appearance and beauty, changing dimensions of beauty, etc. have led to remarkable penetration of cosmetic surgery market.
The increasing awareness about reliability and effectiveness of cosmetic surgery has fueled the demand for the same, for instance, The American Society for Aesthetic Plastic Surgery estimates an increase of 6.5% in the total number of cosmetic surgical procedures in 2013 with almost 1.9 million surgeries performed. The health-related factors that will catapult the growth of the market are rise in obesity, the growing safety margin of cosmetic surgery, growing number of cosmetic surgery hospitals, etc.
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Other factors that will catalyze the boom in the market are advanced treatment such as silicone implants, rising per capita income, increased affordability, presence of skilled surgeons, proven results, medical tourism, minimum risk, etc. The growing acceptance of cosmetic surgery among the male gender also holds the potential to drive the market growth.
The restraints that can affect the market negatively are non-essential nature of cosmetic surgery, social taboos against violation of body parts, high cost of cosmetic surgeries despite fall in price, etc.
Global Cosmetic Surgery Market – Competitive Dashboard
The competitive landscape of the market for cosmetic surgery represents robust competition among the players who avail of opportunities such as strategic alliances, mergers and acquisitions, research & development, expansion of product portfolio, etc. to increase their market share.
DiVa Vaginal Therapy is a form of laser treatment to combat changes caused during menopause childbirth. This therapy is used to treat the side effects of hysterectomy or chemotherapy. It also offers diVaTyte to tighten the outer region of the vagina by using infrared energy to heat the region.
Cutera, Inc. has launched two new products to expand its robust product portfolio, viz. Juliet™ and Secret RF®. Juliet™ uses laser technology for delivering two modes of energy to the vaginal area. The first mode stimulates the remodeling of collagen and the second mode stimulates the damaged tissue which helps the patients with improved sexual function and better vaginal health. Women who are experiencing menopause phase, the ones who have undergone breast cancer treatment or women interested in enhancing vaginal health can benefit from the surgery. Secret RF®, on the other hand, revitalizes, rebuilds, and firms up tissue for treating wrinkles and scars using Cutera’s new fractional radio frequency (RF) microneedling device.
Global Cosmetic Surgery Market – Key Players
Key players profiled in the report are
- Johnson & Johnson
- Valeant Pharmaceuticals International
- Cutera, Inc.
- Syneron Medical Ltd.
- Allergan, Inc.
- Genesis Biosystems, Inc.
Future Drivers and Constraints Impacting the Global Market
With the changing dimension of beauty, influence of media, film industry and fashion, the market is predicted to fuel over the forecast period. Health factors such as rise in accidents and obesity have led to the growth of the market. Moreover, technological factors which include the development of advanced materials like silicone implants is also expected to spur the market growth globally. Formation of tourism clusters like Bangkok and Miami has increased exposure to cosmetic surgery besides creating a high point demand of the same. According to American society for aesthetic plastic surgery, for 2013 there was 6.5% growth in the total number of cosmetic surgery procedure over 2012. There has been an increasing trend of such surgeries, showcasing 40 % growth with men.
Moreover, with the increasing popularity of digital photography, introduction to self-monitoring apps, high demand to increase one’s self-esteem, and affordability of cosmetic surgeries in developing countries can substantially increase the volume of cosmetic surgery procedures.
Meanwhile, social taboos against body part violation, non-essential nature of cosmetic surgery, and high cost associated with such surgeries are some of the major factors restricting the growth of the market globally.
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.
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Global Cosmetic Surgery Market – Regional Analysis
US accounts for the maximum market share of the global cosmetic surgery market and the market is expected to increase continuously in coming years. This can be attributed to increasing pool of awareness and the growing acceptability of cosmetic surgery. Advancing technologies within the cosmetic surgery such as advanced silicone and polymer implants is also driving the market. However there is a definite shift of cosmetic surgery market to Asia pacific and Latin America with the most active part played by tourism industry.
Some of Major Table of Contents for “Global Cosmetic Surgery Market Research Report- Global Forecast To 2023”
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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