Cosmetic Surgery Market Overview
The cosmetic Surgery Market Size is expected to reach USD 254.33 Billion by 2033. The Cosmetic Surgery industry’s size accounted for USD 69.36 Billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 12.20% from 2023 to 2033.Cosmetic surgery, also referred to as aesthetic surgery, is a specialized medical practice that focuses on improving a person’s physical appearance through surgical or non-surgical procedures. The main objective of cosmetic surgery is to enhance an individual’s aesthetic appeal by altering or reshaping specific parts of the body, rather than addressing medical conditions. Surgical cosmetic procedures involve invasive techniques such as breast augmentation, liposuction, facelifts, rhinoplasty, and tummy tucks, among others, that require anesthesia and an operating room. Non-surgical cosmetic procedures, on the other hand, are less invasive and include treatments such as botox injections, dermal fillers, chemical peels, laser hair removal, and other minimally invasive techniques that can be performed in an office setting. While cosmetic surgery can provide significant physical and emotional benefits to individuals, it is important to note that it comes with potential risks and complications, which require careful consideration and consultation with a qualified medical professional.
COVID-19 Impact and Post-COVID Scenario
The cosmetic surgery market experienced a downturn as a result of the COVID-19 pandemic. Many elective procedures, including cosmetic surgeries, were postponed or canceled due to restrictions on non-essential medical procedures implemented by medical authorities. The economic impact of the pandemic has resulted in reduced consumer spending, including on cosmetic procedures, as individuals have had to prioritize necessities such as food and housing. The fear of infection and the need for social distancing have also contributed to hesitancy among patients, particularly for procedures that require close contact with healthcare providers.
Global Cosmetic Surgery Market Growth Factors
- Â Â Â Increasing cultural acceptance of cosmetic procedures
Cultural acceptance is the increasing number of people from diverse cultural backgrounds seeking cosmetic surgery services. As societies become more diverse, people are embracing cosmetic procedures as a way to enhance their physical appearance and conform to cultural beauty standards. This includes procedures such as skin lightening, nose reshaping, and other procedures specific to certain cultural groups. This has driven the cosmetic surgery market, as it has led to an increased demand for these services among a wider range of individuals.
Global Cosmetic Surgery Market Restraining Factors
The higher cost associated with Cosmetic Surgery
Cosmetic surgery is often an elective procedure, which means that it is not considered medically necessary, and therefore is not typically covered by insurance providers. As a result, many individuals who may desire to undergo cosmetic surgery may find it difficult to access these services due to financial constraints. Moreover, the cost of cosmetic surgery can vary widely depending on the type of procedure, the location of the clinic or hospital, and the experience of the surgeon. Some procedures may cost several thousand dollars, and multiple procedures may be necessary to achieve the desired results, further increasing the overall cost.This can limit the overall demand for cosmetic procedures and impact the growth of the market.
Global Cosmetic Surgery Market Opportunity Analysis
- Â Â Â Rise of medical tourism
The rise of medical tourism has created opportunities for cosmetic surgery providers to expand their services to a global market. Patients from developed countries may seek out cosmetic surgery in countries where the cost is lower, while patients from developing countries may seek out more advanced procedures that are not available in their home country.
Global Cosmetic Surgery Market Segment Analysis
The 30 to 54 segment is expected to hold the largest market share in 2023
Based on the Age Group, the Cosmetic Surgery market is segmented based on 18 to 29, 30 to 54, and 55 and above. This is primarily because individuals in this age group may be experiencing the first signs of aging, such as fine lines, wrinkles, and skin sagging. As a result, they may seek out cosmetic procedures such as facelifts or Botox injections to maintain a youthful appearance and improve their self-confidence.
The female segment is expected to hold the major market share in 2023
Based on Gender, the Cosmetic Surgery market is segmented based on females and males. The dominance of the female segment in the cosmetic surgery market can be attributed to various factors. One primary factor is the cultural and societal pressure on women to conform to specific beauty standards. Women are often subjected to unrealistic beauty ideals, which can result in low self-esteem and body dissatisfaction. Cosmetic procedures can provide a solution for women seeking to achieve the desired appearance and improve their self-confidence.
The Surgical segment is expected to hold the largest market share in 2023
Based on Treatment Type, the global Cosmetic Surgery market has been divided intoSurgical (Breast Augmentation, Liposuction, Tummy Tuck, Eyelid Surgery, Breast Lift), Non-surgical (Botulinum toxin, Dermal Fillers, Laser Hair Removal, Photo-rejuvenation, Microdermabrasion).The Surgical segment is expected to hold the largest market share.Advancements in surgical techniques and technology have made cosmetic surgery safer and more effective, reducing the risks and complications associated with these procedures.
The cosmetic surgical center segment holds the largest market share of Cosmetic Surgery in 2023
Based on End Users, the global Cosmetic Surgery market has been divided into Ambulatory surgical facilities, Hospitals and clinics, and cosmetic surgical centers. The cosmetic surgical center segment holds the largest market share of Cosmetic Surgery. This is because specialized surgical centers typically have state-of-the-art equipment and facilities that are specifically designed for cosmetic surgery procedures. They also often have highly trained staff and specialized medical teams who have extensive experience in performing cosmetic procedures.
Global Cosmetic Surgery Market, Segmental Chart
Cosmetic Surgery Market Regional Analysis
Based on region, the global Cosmetic Surgery market has been divided into North America, Europe, Asia-Pacific, theMiddle East & Africa, and Latin America. North America is projected to dominate the use of the Cosmetic Surgery market followed by the Asia Pacific and Europe regions.
Regional Coverage:
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Benelux
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Indonesia
- Australia
- Malaysia
- Thailand
- India
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of Middle East & Africa
North America Market
The regionleading the market for cosmetic surgery is North America due to several factors. The region has a vast number of well-established providers offering a wide range of cosmetic procedures, both surgical and non-surgical. Additionally, North America is home to numerous reputable cosmetic surgeons and clinics that attract patients from both within and outside the region. The high disposable income levels of North American consumers, coupled with a strong cultural emphasis on physical appearance, have resulted in a significant demand for cosmetic procedures. The increasing acceptance and normalization of cosmetic surgery, particularly among younger generations, have also contributed to the growth of the market in this region.
Asia Pacific Market
The Asia Pacific region exhibits the highest CAGR in the Cosmetic Surgery market.This can be attributed to the growing acceptance and awareness of cosmetic procedures, particularly among younger generations, in countries such as China, Japan, and South Korea. In addition, the rise of medical tourism in the region has attracted a significant number of patients from other parts of the world, particularly for non-surgical procedures such as Botox injections and dermal fillers. The increasing disposable income of consumers in the region has also contributed to the growth of the market, as more people can afford these procedures. However, the market in the Asia Pacific region is also highly fragmented, with a large number of small providers competing for market share, which can limit growth opportunities for larger players.
Competitive Landscape
The competitive landscape includes key players (tier 1, tier 2, and local) having a presence across the globe. Companies such as Bausch Health Companies Inc, Cynosure Technologies, Galderma, Laboratories Vivacy, and Merz Pharma GmbH & Co are some of the leading players in the global Cosmetic Surgery market. These players have adopted partnership, acquisition, expansion, and new product development, among others as their key strategies.
Key Market Players:
- AbbVie Inc
- Bausch Health Companies Inc
- Cynosure Technologies
- Galderma
- Laboratories Vivacy
- Merz Pharma GmbH & Co
- Sinclair Pharma
- Syneron
- Teoxane Laboratories
- Vital Esthetique
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Market Share Acquisition Strategies: Analysis of Key Approaches Employed by Top Players
On June 2022, Cynosure Technologies announced the release of the PicoSure Pro gadget, which is an improvement to the PicoSure platform.
On March 2022, Galderma announced the launch of a revolutionary formulation called Alastin Skincare A-Luminate Brightening Serum, which was created to make hyperpigmentation appear less prominent.
Report Scope:
Global Cosmetic SurgeryMarket, by Age Group
- 18 to 29
- 30 to 54
- 55 and above
Global Cosmetic Surgery Market, by Gender
- Female
- Male
Global Cosmetic Surgery Market, by Treatment Type
- Surgical
- Breast Augmentation
- Liposuction
- Tummy Tuck
- Eyelid Surgery
- Breast Lift
- Non-surgical
- Botulinum toxin
- Dermal Fillers
- Laser Hair Removal
- Photo-rejuvenation
- Microdermabrasion
Global Cosmetic Surgery Market, by End User
- Ambulatory surgical facility
- Hospital and clinic
- Office and cosmetic surgical center
Global Cosmetic Surgery Market Synopsis:
| PARAMETER | VALUE |
Market Size |
·        2023: USD 69.36Billion·        2033: USD 254.33Billion |
Growth Rate |
·        First 5 Years CAGR (2023–2028): XX%·        Last 5 Years CAGR (2028–2033): XX%·        10 Years CAGR (2023–2033): 12.20% |
Key Market Drivers |
·        Increased Disposable Income·        Increasing cultural acceptance of cosmetic procedures |
Key Market Restraints |
·        The higher cost associated with Cosmetic Surgery·        Availability of Non-Surgical Alternatives |
Market Opportunities |
·        The rise of medical tourism·        Technological Advancements |
Key Market Players |
·        AbbVie Inc·        Bausch Health Companies Inc·        Cynosure Technologies·        Galderma SA·        Laboratories Vivacy·        Merz Pharma GmbH & Co·        Sinclair Pharma·        Syneron·        Teoxane Laboratories·        Vital Esthetique |
REPORT CONTENT BRIEF:
- High-level analysis of the current and future Cosmetic Surgery market trends and opportunities
- Detailed analysis of current market drivers, restraining factors, and opportunities analysis in the future
- Historical market size for the year 2021, and forecast from 2023 to 2033
- Cosmetic Surgery market share analysis for each segment
- Competitor analysis with a comprehensive insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted by the key players including new product development, mergers and acquisitions, joint ventures, collaborations, and partnerships.
- To identify and understand the various factors involved in the global Cosmetic Surgery market affected by the pandemic
- To provide year-on-year growth from 2023 to 2033
- To provide short-term, long-term, and overall CAGR comparisons from 2021 to 2033.
- Provide Total Addressable Market (TAM) for the Global Cosmetic Surgery Market
