Cosmetic Surgery Market Overview
The cosmetic surgery market size was valued USD 61.1 Billion in 2021 and expected to reach USD 143.5 at CAGR of 9.1% during the forecast period 2022-2030. Cosmetic surgery is a medical specialty that focuses on enhancing one’s appearance through surgical and medical techniques. It is a procedure that can be performed on any portion of the body. The visual appeal it imparts is assisting the market in attracting interest from a variety of sectors.
Cosmetic Surgery Market Dynamics
Cosmetic surgery is growing at a breakneck pace. The sector is advancing because to technological improvements and the introduction of advanced materials such as silicone implants. Cosmetic surgery is predicted to grow dramatically in the next years as safety margins improve, obesity levels rise, accidents occur, and the number of cosmetic surgery hospitals increases. The growth of the tourism industry, as well as the formation of tourism clusters in cities such as Miami and Bangkok, has increased not just awareness of cosmetic treatments, but has also created a high point demand for them.
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Additionally, social and cultural factors such as the media, fashion, and entertainment industries, as well as social networking applications such as Snapchat and Instagram, all contribute to the market’s global growth. On the other hand, the cosmetic surgery market’s growth is being hampered by the non-essential nature of the procedure, societal taboos about violating physical parts, as well as the high cost associated with these operations. Nonetheless, economic factors such as increasing per capita income and decreasing cosmetic surgery costs are expected to support market growth in the coming years.
On the other hand, as the COVID-19 epidemic has grown in scope, the safety of ablative resurfacing lasers, microneedling, and dermatological surgery techniques has been called into question. Additionally, a faltering economy and decreased discretionary expenditure deter clients from pursuing costly aesthetic procedures, presenting a practical constraint.
Cosmetic Surgery Market Segmental Analysis
The worldwide cosmetic surgery market is segmented by MRFR into surgical and non-surgical treatments.
Lipoplasty, cosmetic ear surgery, gynecomastia therapy, cosmetic eyelid surgery, abdominoplasty, breast augmentation, breast reduction, and breast lift are the surgical operations that comprise the cosmetic surgery market.
Cosmetic Surgery Market Regional Overview
The global cosmetic surgery market, according to the research, is segmented geographically into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. North America accounts for the lion’s share of the market. The market size of the region is expected to continue growing steadily over the next several years. The growing acceptance of cosmetic surgery and widespread awareness are important factors driving the market’s growth. Additionally, substantial advancements in related technology, including as enhanced silicone and polymer implants, are moving the region’s cosmetic surgery business forward. Cosmetic surgery is the second largest market in Europe. Several significant factors contributing to the expansion of the regional cosmetic surgery market include a better economy and an increase in the number of fans. Additionally, growing knowledge and developments in medical technology are positively impacting the region’s cosmetic surgery industry’s growth.
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Asia Pacific’s cosmetic surgery sector is rapidly growing in profitability. Cosmetic surgery is clearly shifting to APAC, with the tourist industry playing the most active role. Additionally, improved economic conditions contribute significantly to the region’s cosmetic surgery industry’s value, since they raise consumer buying power. India and China, as well as other Southeast Asian countries such as Vietnam, Thailand, and Malaysia, all make significant contributions to regional market growth.
Cosmetic Surgery Market Competitive Dynamics
Notable players profiled in the report of the cosmetic surgery market are Valeant Pharmaceuticals International, Cutera, Inc., Johnson & Johnson, Syneron Medical Ltd., Genesis Biosystems, Inc. Allergan, Inc., and others.
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