Cosmetic surgery is a kind of plastic surgery that aims to improve or enhance the aesthetic appearance of an individual. Cosmetic surgery can be performed on any part of the body, neck and face. Cosmetic surgery products are manufactured by using natural ingredients, chemicals and minerals. Technological advancement in the manufacturing of cosmetic surgery products is one of the driving factors for the cosmetic surgery products market. However, the economic improvement in the emerging countries such as China, India, Brazil and Dubai has further increased the utilization of cosmetic surgery products, as consumers have more disposable income.
One of the biggest pros towards getting cosmetic surgery is that, with the enhancement of one’s appearance, an individual’s self-esteem and confidence level is improved. Conversely, one of the biggest cons of cosmetic surgery is that there are always risks of complications, which can be devastating.
From the geographical perspective, North America accounts for the largest market share of cosmetic surgery products owing to the rising aging population and high adoption rate of advance aesthetic products. According to the American Society for Aesthetic Plastic Surgery (ASAPS) in 2012, 43 percent of the total population of Generation X those range in age between 31 and 45, underwent aesthetic procedures to retain their youth and beauty. Additionally, the ASAPS also reported that in 2013, more than 11,000,000 cosmetic non-surgical as well as surgical procedures were performed by board-certified dermatologists and plastic surgeons in the U.S. However, other regions such as Asia-Pacific, Middle East and Latin America are expected to be the potential markets in the near future. Due to the widespread awareness about aesthetic products, these regions are estimated to be the potential markets.
The cosmetic surgery products market has witnessed a significant growth in the last few years. The major factors propelling the growth of the cosmetic surgery products market are increasing aging population coupled with growing demand for retaining youth and beauty among population. Moreover, other factors such as expanding media exposure, faster results and overall reluctance among population to age gracefully are also contributing to the growth of the cosmetic surgery products market. Furthermore, increased disposable incomes and high awareness among population along with high adoption rate for innovative cosmetic products are also driving the growth of this market. However, market-restraining factors such as adverse effects, high cost involved in the development of cosmetic products and stringent regulatory approvals; are some of the restraints that can hinder the market of cosmetic surgery products globally.
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Currently, the global cosmetic surgery products market is highly competitive owing to the involvement of many established players. Some of the key players in the global cosmetic surgery products market are Allergan, Inc., Alma Lasers, Ltd., Cutera, Inc., IRIDEX Corporation, Johnson & Johnson, Lumenis Ltd., Genesis Biosystems, Inc., Merz Aesthetics, Inc., Sanofi S.A., Smith & Nephew plc, Syneron Medical Ltd. and Valeant Pharmaceuticals International, Inc.