The Global Cosmetic Surgery Market has been growing persistently and is set to capture a CAGR of 7.8% over the forecast period of 2017-2023, reveals Market Research Future (MRFR) in a minutely analyzed research report. The Global Cosmetic Surgery Market has been observing continued growth on account of social and cultural factors such as the influence of social media and films.
Interestingly, physical appearance is a social phenomenon, and the people are overwhelmingly driven to opt for cosmetic surgeries by the desire to look beautiful, flawless and young. Advertising and marketing are instrumental in shaping the cosmetic surgery market as they reinforce such beliefs among consumers which makes them indulge in cosmetic surgeries.
Photo filters available on applications such as Snapchat and Instagram have reportedly been vital in triggering body dysmorphic disorders among the youth who opt for cosmetic surgeries in an effort to look like an edited version of themselves. Rising disposable income levels in developing countries coupled with high adoption rates of invasive and minimally invasive cosmetic procedures drive the market majorly.
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Moreover, cosmetic surgeries are increasingly becoming affordable, and the trend of medical tourism has helped spur the growth of the market. Technological developments in procedures and availability of skilled surgeons have helped consumers shake off their inhibitions regarding cosmetic surgeries. The rise in youth population is also a critical factor in propelling the market growth.
The young population is more influenced by social media, changing beauty standards, peer pressure and form a large base of the cosmetic surgery consumers. On the downside, the side effects associated with cosmetic procedures and the high cost of cosmetic surgeries are significant market restraints. However, with a greater number of men opting for cosmetic procedures, the trend is likely to provide potential growth opportunities to the market. These factors in combination will help the market achieve a valuation of USD 21.97 Bn by the end of 2023.
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.
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.
In August 2018, a new aesthetic surgery website was launched which allows its patients to see the impact of cosmetic surgeries with before-and-after images. The website has been launched by Dr. Victor Perez, aboard-certified plastic surgeon.
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 – 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.
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