The Cosmetic Surgery Market Is Estimated To Record a CAGR of Around 12.20% During The Forecast Period
Evolve Business Intelligence has published a new research report on the Global Cosmetic Surgery Market, 2023–2033. The globalCosmetic Surgery market is projected to exhibit a CAGR of around 12.20%during the forecast period of 2023 to 2033.
Evolve Business Intelligence has identified the following companies as the key players in the global Cosmetic Surgery Market: AbbVie Inc, Bausch Health Companies Inc, Cynosure Technologies, Galderma SA, Laboratories Vivacy, Merz Pharma GmbH & Co, Sinclair Pharma, Syneron, Teoxane Laboratories, and Vital Esthetique.
The global Cosmetic Surgery market is projected to be valued at USD 254.33 Billion by 2033, recording a CAGR of around 12.20% during the forecast period.Cosmetic surgery, also known as plastic surgery, is a surgical specialty that involves the reconstruction, alteration, or restoration of various parts of the body for cosmetic reasons. The goal of cosmetic surgery is to enhance a person’s appearance, improve their self-esteem, and boost their overall confidence. Common cosmetic surgeries include breast augmentation, liposuction, rhinoplasty, facelifts, tummy tucks, and buttock lifts. While cosmetic surgery is elective and not medically necessary, it can have significant psychological benefits for some individuals.
The COVID-19 pandemic had a negative impact on the cosmetic surgery market.During the pandemic, many elective surgeries were postponed or canceled due to restrictions on non-essential medical procedures. This included cosmetic surgeries, which were often deemed non-essential by medical authorities. The economic impact of the pandemic has led to a decrease in consumer spending, including on cosmetic procedures. Many people have had to prioritize their spending on necessities, such as food and housing, over elective procedures such as cosmetic surgery. The fear of infection and the need for social distancing have made many people hesitant to undergo cosmetic procedures, especially those that involve close contact with healthcare providers.
The global Cosmetic Surgerymarket has been segmented based on Age Group, Gender, Treatment Type, End Use,and Region.
Based on the Age Group, the Cosmetic Surgery market is segmented based on 18 to 29, 30 to 54, and 55 and above. The30 to 54 is expected to have the largest market share throughout the forecast period.
Based on Gender, the global Cosmetic Surgery market has been divided into females and males. TheFemale segments are anticipated to dominate the market.
Based on Treatment Type, the global Cosmetic Surgery market has been divided into Surgical (Breast Augmentation, Liposuction, Tummy Tuck, Eyelid Surgery, Breast Lift), Non-surgical (Botulinum toxin, Dermal Fillers, Laser Hair Removal, Photo-rejuvenation, Microdermabrasion). The Surgical segments are anticipated to dominate the market.
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 segments are anticipated to dominate the market.
The Cosmetic Surgery market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. North America and Europe have traditionally been the largest markets for cosmetic surgery, owing to higher disposable incomes, better healthcare infrastructure, and more accepting attitudes towards cosmetic procedures. However, the Asia-Pacific region has emerged as a rapidly growing market, due to rising disposable incomes, increasing awareness about cosmetic procedures, and a growing number of skilled practitioners.Latin America, the Middle East, and Africa (LAMEA) region is a growing market for cosmetic surgery procedures. In recent years, there has been a significant increase in demand for cosmetic procedures in these regions, due to factors such as increasing disposable incomes, changing beauty standards, and growing awareness about the benefits of cosmetic surgery.