Cosmetic Surgery Market Insights and Analysis By Surgery Type (Liposuction, Eyelid and Nose Surgery, Body Contouring, Facial Reconstruction, Cosmetic Implants), Leading Players, Dynamics and Competitive Analysis Forecast to 2023
Global Cosmetic Surgery Market size is projected to reach USD 21.97 billion and would grow at a CAGR of approximately 7.8% throughout the forecast period (2017-2023). Also, peer pressure for appearance and changing dimensions of beauty are key factors influencing the growth of the market.
Cosmetic surgery market share is anticipated to witness significant growth due to rising safety margins, growing obesity, accidents and increasing numbers of cosmetic surgery hospitals. The growth of the tourism industry and the formation of tourism clusters such as Miami, Bangkok, etc. has not only increased exposure to cosmetic surgeries but have also created a high point demand for these surgeries. There has been a rising trend of cosmetic surgeries with a hefty 40% growth with men.
The cosmetic surgery market is an ever-increasing space. Advances in technology and the development of advanced materials such as silicone implants etc. are fueling the growth of the market. Moreover, social and cultural factors such as the influence of media, fashion & film industry, and social networking apps such as Snapchat and Instagram escalate the market on the global platform.
On the other hand, non-essential nature of cosmetic surgery and social taboos against violation of body parts, alongside the high cost associated with these surgeries are some of the key factors impeding the growth of the market. Nevertheless, economic factors such as increasing per-capita income and falling cost of cosmetic surgeries, etc. are expected to support market growth over the years to come.
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Global Cosmetic Surgery Market Competitive Analysis:
Leading players operating in the global cosmetic surgery market, include Valeant Pharmaceuticals International, Johnson & Johnson, Cutera, Inc., Allergan, Inc., Syneron Medical Ltd., and Genesis Biosystems, Inc., among others.
Highly competitive, the global cosmetic surgery market appears to be fragmented, characterized by the presence of several well-established players. In order to gain a competitive advantage in this market, these players incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product/technology launch.
Global Cosmetic Surgery Market Segments:
The global cosmetic surgery market is segmented by surgery type includes
- Liposuction
- Facial Reconstruction
- Eyelid & Nose Surgery
- Body Contouring (tummy tuck, breast lift, others)
- Cosmetic Implants (chin & cheek implants, breast augmentation, buttock implants)
- others
Global Cosmetic Surgery Market Regional Analysis:
Global Cosmetic surgery market segmented into four regions
- Asia Pacific
- North America
- Europe
- Rest-of-the-World
North America leads with the largest cosmetic surgery market share. The region is expected to witness a continuous increase in the size of the market in the coming years. Well-spread awareness and the growing acceptability of cosmetic surgery are key driving forces behind the growth of the market. Moreover, rapid advancements in related technologies such as advanced silicone and polymer implants are driving the cosmetic surgery market in the region.
European region accounts for the second-largest cosmetic surgery market share. Increasing economy and the rising numbers of enthusiasts are some of the major factors fostering the regional market growth. Besides, increasing pool of awareness and advancement in medical technology are positively impacting the growth of the cosmetic surgery market in the region.
The Asia Pacific cosmetic surgery market is rapidly emerging as a profitable market. There is a definite shift in the cosmetic surgery market to the APAC with the most active part played by the tourism industry. Moreover, improving economic conditions is a crucial factor supporting the growth of the cosmetic surgery market in the region, increasing consumer purchasing power. India, China, alongside, some of the Southeast Asian countries such as Vietnam, Thailand, and Malaysia, contribute to the regional market growth, significantly.
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Industry/Innovations/Related News:
Viper Equity Partners (the US), a leading growth transition consultation firm in dentistry, dermatology, and plastic surgery, announced the consolidation of its Plastic Surgery business into the mainstream with another marquis deal. Viper was instrumental in a marquis deal merging their client Aqua Plastic Surgery with Water’s Edge Dermatology.
According to the deal, Aqua Plastic, a prominent plastic surgery practice, would augment the skin cancer and reconstructive surgical capability of Water’s Edge, a leading provider of comprehensive dermatology services.
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