Overview of the cosmetic surgery market
The cosmetic surgery market is expected to touch $21.97 billion and grow at a decent rate of 7.8% CAGR during the forecast period. Over the years, minimally invasive surgical procedures have gained popularity around the world, emerging as one of the major trends in the cosmetic surgery market. Minimally invasive cosmetic surgeries offer many advantages over traditional procedures, such as faster recovery, less pain, and reduced scarring. Such procedures are not only cost effective, but also give a very natural look after surgery. This could be a crucial growth booster for the cosmetic surgery industry in the years to come.
Emerging countries such as Mexico, China, Brazil, and India abound with growth opportunities for manufacturers active in the cosmetic surgery market. Cosmetic devices are in massive demand in these countries, owing to the incredible growth of the medical tourism industry, booming geriatric population, and rapidly increasing disposable incomes. Technological innovations related to the accelerated use of advanced materials like silicone implants would also propel the market position in the future. Not to mention, various cultural and social elements such as the impact of fashion, entertainment and media industries associated with social media platforms such as Instagram and Snapchat also enhance the market share globally.
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Cosmetic surgery market segmentation
MRFR has segmented the cosmetic surgery industry with respect to surgical procedures as well as non-surgical procedures.
Surgical procedures covered by the MRFR report include cosmetic ear surgery, lipoplasty, cosmetic eyelid surgery, gynecomastia treatment, breast augmentation, tummy tuck, breast lift, and breast reduction.
Some of the major non-surgical procedures are laser hair removal, laser leg vein therapy, sclerotherapy, skin rejuvenation, and cosmetic injectables. Cosmetic injectables would be the top segment in the coming years while skin rejuvenation segment may register a large CAGR in the given period.
Regional Overview of Cosmetic Surgery Market
North America holds the largest share of the global cosmetic surgery market, largely supported by the United States, home to a robust medical infrastructure and a thriving healthcare system. The extensive use of modern technologies by the healthcare industry and the growing interest of people in self-care have increased the demand for cosmetic surgery in the region. High levels of awareness and growing willingness to opt for plastic surgeries are some of the major influencing factors in the regional cosmetic surgery market.
The APAC cosmetic surgery market, led by Japan, India, and China, will gain the fastest CAGR during the conjectured period. Breast augmentation and eyelid surgeries enjoy huge popularity in Japan, while India is home to a thriving medical tourism industry which drives the demand for cosmetic surgeries. Improving economic conditions, the growing number of qualified surgeons, and the wide availability of low-cost treatment options are also adding to the market value of cosmetic surgery.
Notable players in the cosmetic surgery market include Valeant Pharmaceuticals International, Syneron Medical Ltd., Cutera, Inc., Johnson & Johnson, Genesis Biosystems, Inc. Allergan, Inc., to name a few.
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Recent Cosmetic Surgery Market News
Maia Plastic Surgery has acquired the latest Emsculpt NEO from BTL Aesthetics, the world’s first and only advanced non-invasive technology that creates approximately 25% more muscle and reduces fat by an average of 30%. Emsculpt NEO is the only and first non-invasive body contouring system to use dual energies, High Intensity Focused Electromagnetic Technology (HIFEM+) and Radio Frequency (RF) technology.
Élan Laser Clinics, a renowned cosmetic laser treatment brand, has invested around £559,000 in its first clinic in the UK. The new clinic now offers a range of laser treatments ranging from tattoo removal, laser hair removal, skin rejuvenation, facials, body contouring and fat freezing. It also has advanced laser devices from reputable brands such as Alma and Candela.
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