Cosmetic Surgery Market, Size, Global Forecast 2023-2027, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis
Cosmetic Surgery Market is expected to reach US$ 75.67 Billion by 2027 according to Renub Research. Cosmetic Surgery aims to boost a person's confidence, self-esteem, and physical appearance. Any section of the face or body can undergo cosmetic surgery. Cosmetic Surgery is performed when a person decides to change or restructure a specific body component's original structure in order to boost its aesthetic value. It is often performed by adequately trained surgeons who have a thorough understanding of the anatomy and tissue organization of the body. These surgical operations are typically elective and carried out as precisely and accurately as possible. Cosmetic Surgery can be performed on various facial areas such as nose, ears, eyelids, etc., and it can also be performed on multiple body parts such as breasts, hips, etc.
Cosmetic Surgery Market will grow with a CAGR of 5.14% during the forecast period (2022 – 2027):
The demand for cosmetic surgery operations has surged, along with society's growing need for greater aesthetic value and the rising number of medical spas and specialty clinics. Furthermore, the expansion of the cosmetic surgery industry is driven by an increase in the number of cosmetic surgical product approvals. For instance, the FDA approved Johnson and Johnson's new mentor MemoryGel BOOST breast implant for female breast augmentation in Jan 2021. Additionally, rise in technological advancement and growing awareness among people for skin treatment will drive the cosmetic surgery market during the forecast period.
By Procedure, Surgical Procedures holds the largest market share:
Cosmetic Surgeries can be performed through two different procedures, i.e., surgical and non-surgical procedures. Surgical procedures acquire the majority of the market share. Due to the rising demand for cosmetic surgical treatments to fix implants, the breast augmentation technique is one of the most highly performed cosmetic surgical procedures.
Furthermore, liposuction, abdominoplasty, and rhinoplasty are among the top surgical procedures in the cosmetic surgery market. Additionally, botulinum toxin and hyaluronic acid treatment are the top performed non-surgical procedures in the cosmetic surgery market. Due to less pain, low cost, and instant results, non-surgical procedures will grow steadily during the forecast period.
North America dominates the cosmetic surgery market:
By region, the Cosmetic Surgery market is segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America dominates the cosmetic surgery market. The presence of board-certified and trained cosmetic surgeons, the adoption of cosmetic treatments, the rising frequency of skin problems, and North America's advanced healthcare infrastructure are some of the key drivers of market expansion.
Furthermore, during the forecast period, the Asia Pacific region will also increase significantly due to the growing medical tourism, increasing number of cosmetic surgeries, rising per capita expenditure, and availability of technological advancement in the Asia Pacific region. According to our research findings, the global cosmetic surgery market was US$ 56.18 Billion in 2021.
By End User, Dermatology clinics have Significant Market Share:
A dermatologist specializes in skin disease, and no one knows skin better than a board-certified dermatologist, whether it's rashes, wrinkles, psoriasis, or melanoma. People prefer to get cosmetic surgery treatment to be done at dermatology clinics to get a perfect look and better opinion which is boosting the dermatology clinics market in cosmetic Surgery. The availability of various dermatology clinics and their diversified procedure portfolio are further driving the market. Additionally, the hospital segment will also grow during the forecast period due to the growing number of licensed hospitals to conduct cosmetic Surgery.
Key Players Analysis:
Johnson & Johnson, Bausch Health, Cutera Inc., Abbvie, Hologic, Ipsen, Sientra Inc., and Anika Therapeutics Inc. are the leading competitors in the Cosmetic Surgery Market. These companies are using various marketing strategies to grow their market share, including R&D initiatives, increased collaborations, awareness campaigns, technological improvements, global expansion, and the launch of new products. Furthermore, the performance of these companies in the market has been largely attributed to their solid distribution networks and well-established brand presence.
Covid-19 impact on Cosmetic Surgery Market:
The COVID-19 pandemic directly impacted the healthcare industry since it is the epicenter of this unprecedented worldwide pandemic. Due to the decreased demand for numerous aesthetic applications, the COVID-19 pandemic has negatively impacted cosmetic surgery and the products connected around the globe. Due to the strictly enforced lockdowns, the postponement of elective surgeries, and disruptions in the supply chain cosmetic surgery market declined during the pandemic. However, as the Covid-19 restrictions were lifted, interest and demand for cosmetic surgery increased again.
Renub Research latest report “Cosmetic Surgery Market Global Forecast by Procedure (Surgical Procedure, Non-Surgical Procedure), by Region (North America, Europe, Asia Pacific, Latin America and MEA), by End User (Dermatology Clinics, Hospitals, Others), Key Players Analysis (Johnson & Johnson, Bausch Health, Cutera Inc., Abbvie, Hologic, Ipsen, Sientra Inc., Anika Therapeutics Inc.)"" provides a detailed analysis of Cosmetic Surgery Market.
A. Surgical Procedure
1. Breast Augmentation
3. Eyelid Surgery
6. Breast Lift
7. Fat Grafting Face
8. Breast Reduction
10. Buttock Augmentation
B. Non-Surgical Procedure
1. Botulinum Toxin
2. Hyaluronic Acid
3. Hair Removal
4. Non Surgical Fat Reduction
5. Photo Rejuvenation
6. Chemical Peel
7. Micro Ablative Resurfacing
8. Full Field Ablative
9. Calcium Hydroxylapatite
10. Poly-L-Lactic Acid
1. North America
3. Asia Pacific
4. Latin America
5. Middle East & Africa
1. Dermatology Clinics
1. Johnson & Johnson
2. Bausch Health
3. Cutera Inc.
7. Sientra Inc.
8. Anika Therapeutics Inc.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook