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Market Overview:
The cosmetic surgery market includes various surgical and non-surgical aesthetic procedures that enhance physical appearances. Common cosmetic procedures include breast augmentation, liposuction, rhinoplasty, abdominoplasty, chemical peel, etc. Cosmetic procedures help to treat signs of aging, improve scars, reshape body contours and enhance facial features. They are performed to boost self-esteem and confidence. The demand for cosmetic surgery is growing due to increasing health awareness and rising consciousness about physical appearance.
The Cosmetic Surgery Market is estimated to be valued at US$ 57.35 Bn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Get more insights on this topic: https://www.coherentmarketinsights.com/market-insight/cosmetic-surgery-market-4517
Market Dynamics:
Growing popularity of minimally invasive procedures: Minimally invasive procedures such as Botox injections, chemical peels and laser skin resurfacing are gaining traction as they are associated with less pain, less scarring and quick recovery time. Furthermore, growing demand for non-surgical procedures has created opportunities for botox and dermal fillers manufacturers.
Increasing disposable income: Rising disposable incomes in developing countries such as India, China and Brazil is fueling the demand for beauty and appearance enhancement procedures. With improved economic conditions, people are willing to spend more on aesthetic treatments to look younger and feel more confident. This is a key driver contributing to the growth of cosmetic surgery market.
Segment Analysis
The cosmetic surgery market can be segmented into surgical procedures and non-surgical procedures. Surgical procedures dominate the market with breast augmentation being the most common surgical procedure. Breast augmentation remains the most popular procedure in the cosmetic surgery market as it helps improve one’s physical appearance and enhances self-esteem.
PEST Analysis
Political: Regulations regarding the sale and marketing of aesthetic products and services are in place to ensure safety. However, the regulations differ across geographic regions.
Economic: High disposable income levels along with the desire for enhanced aesthetics are some of the key factors driving demand in developed countries. Rising income levels in emerging nations are also fueling market growth.
Social: Changing social acceptance of aesthetic treatments and influence of media have increased their popularity. Procedures help improve confidence and self-esteem.
Technological: Advancements are allowing even complex cosmetic surgeries to be performed on an outpatient basis with minimized recovery times. Novel techniques like non-invasive body contouring also gain popularity.
Key Takeaways
The global Cosmetic Surgery Market is expected to witness high growth, exhibiting CAGR of 3.9% over the forecast period, due to increasing social acceptance of aesthetic procedures. The market size for 2023 is US$ 57.35 Bn.
North America dominates the global market owing to technological advancements and higher discretionary spending capacity in the US and Canada on aesthetic treatments.
Key players operating in the cosmetic surgery market are 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.). The major players are focused on developing innovative products to expand their product portfolio.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
