17 November 2022
Visiongain has published a new report entitled Cosmetic Surgery Market Report 2022-2032: Forecasts by Type (Invasive Procedures, Non-invasive Procedures), by Invasive Procedures (Breast Augmentation, Liposuction, Tummy Tuck Surgery, Eyelid Surgery, Nose Reshaping Surgery), by Non-invasive Procedures (Soft Tissue Fillers, Botox Injections, Laser Hair Removal, Chemical Peel, Microdermabrasion), by Gender (Female, Male), by End-users (Hospitals & Specialty Clinics, Ambulatory Surgery Centres, Cosmetic Surgery Centres) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.
The cosmetic surgery market was valued at US$44.31 billion in 2021 and is projected to grow at a CAGR of 9.44% during the forecast period 2022-2032.
Rising Strategic Initiatives Propelling Market Growth
Marketing, promotions, inventions, and mergers, acquisitions, and partnerships are all important management techniques in the cosmetic surgery sector. This is owing to the enormous untapped cosmetic surgical market caused by a lack of knowledge about the benefits and characteristics of cosmetic surgery. Novel and safe products, public awareness, and advanced technology are important factors in the adoption of cosmetic surgical procedures. For instance, in March 2022, AbbVie’s Allergan Aesthetics expanded the geographic presence of its product by launching the HArmonyCa product in Europe and selected EMEA countries. Also, in March 2021, Hikma Bausch Health's subsidiary Solta launched the Clear + Brilliant Touch Laser in the U.S.
How has COVID-19 had a Significant Impact on the Cosmetic Surgery Market?
Furthermore, as a result of COVID-19, cosmetic surgery will face pushback. Consumers prefer non-invasive surgeries, which, combined with increased safety measures, have rendered cosmetic treatments less appealing until reliable, mass COVID-19 testing is available. Even before the epidemic, a paradigm shift toward minimally invasive operations employing fillers, injectables, and threads was gaining traction. Cosmetic procedures, according to cosmetic industry experts, are elective and will continue only after the disease has been controlled and the hospital resource supply chain has been restored to baseline levels.
How will this Report Benefit you?
Visiongain’s 234-page report provides 102 tables and 128 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the cosmetic surgery market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Cosmetic Surgery. Get financial analysis of the overall market and different segments including type, invasive procedure type, non-invasive procedure type, gender, end-user, and capture higher market share. We believe that there are strong opportunities in this fast-growing cosmetic surgery market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Awareness for Minimally Invasive Cosmetic Surgery is Driving the Adoption
Modern minimally invasive cosmetic procedures have presented potential scenarios for altering look with safety and in a shorter amount of time throughout the last couple of decades. Non-surgical cosmetics are becoming more popular because to the benefits of effective outcomes, uncomplicated procedures, and technology improvements. Without considerable surgical technique complexity, minimally invasive surgery can be easily accessed for the self-administration of cosmetic items. Furthermore, various goods, such as botulinum toxin procedure type A, lasers, chemical peels, skin fillers, and so on, are favoured since scalpel use is often avoided. The minimally-invasive cosmetic surgery has seen over 160% upsurge in the last two decades. Non-invasive cosmetic solutions provide a faster beginning of effect, improved patient compliance, and a lower chance of cosmetic surgical consequences.
Rising Disposable Income Favoring the Growth of Cosmetic Surgery Industry
The cosmetic surgery market is expanding as disposable income in low- and middle-income countries rise. Leisure activities like as travel and entertainment programs were halted in covid-19, resulting in an increase in discretionary money. Furthermore, the physical movement was prohibited during covid-19, forcing a lot of experts to work online from a faraway location. Consumers, particularly women, become self-conscious during video chats owing to their appearance, lowering their self-confidence and resulting in a 55% increase in facial operations in the United States by 2021. Moreover, in 2021, around 94.0% of cosmetic procedures performed in the U.S. were carried out on women. Furthermore, these procedures are convenient, take little time, and are easily handled using COVID-19 compliances.
Where are the Market Opportunities?
Rising Demand for Novel Cosmetic Products to Reduce the Procedural Costs
Awareness of necessary and unconditional cosmetic surgery has significantly increased across the globe. Yet, the availability of affordable cosmetic surgery is an ongoing key point of concern in the cosmetic industry. Cosmetic product manufacturers need to address the supply side by designing viable business models for delivering advanced cosmetic surgery products to consumers at reasonable costs. Cosmetic products/devices manufacturing processes demand stringent regulatory adherence pertaining to consumer safety. Thus, the rising demand for novel cosmetic products has resulted in the expansion of business operations of cosmetic surgery manufacturers, thereby boosting market growth in the near future.
The major players operating in the cosmetic surgery market are AbbVie Inc., Bausch Health Companies Inc., Candela Medical Inc., Cutera, Cynosure, GALDERMA, HansBioMed, Huadong Medicine Co., Ltd., Johnson & Johnson Services, Inc., Lumenis Be Ltd., Medytox, Merz Pharma, Sientra, Inc., and Suneva Medical among others. These major players operating in this market have adopted various strategies such as M&A, collaborations, investment in R&D, regional business expansion, partnerships, and new product launch.
• In March 2022, Lumenis Ltd. launched a new device triLift, which is a face stimulation device that treats the three tissue layers—muscles, dermis, and epidermis—targets the three signs of aging—structure, contour, and texture. Such product development is expected to drive the adoption of cosmetic surgeries.
• In March 2022, Sientra Inc. received approval from Health Canada to begin commercialization of smooth round HSC and HSC+ silicone gel breast implants in Canada. Following this approval, company intend to begin commercialization in Canada with distribution partner, Kai Aesthetics, Inc.
Notes for Editors
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