Market Overview
A CAGR of 7.8 per cent is expected for the forecast period between 2022 and 2027, bringing the total global cosmetic surgery market to USD 21.97 billion. Plastic surgery is a subcategory of surgery for those who want to enhance their appearance via cosmetic procedures. There is a growing demand for cosmetic surgery due to improved safety margins, overweight, mishaps, and the growth of cosmetic surgery facilities.
Cosmetic surgery has a growing safety margin and a rising prevalence of cosmetic surgery facilities, among other things, all of which impact people's health. Innovative materials, like silicone implants, are one example of a technological component. The global cosmetic surgery market is being driven by increased income levels, decreased plastic surgery prices, etc.
The cosmetic surgery business is predicted to grow at a much slower rate in 2020 because of the COVID-19 epidemic. A steady rise is expected to continue during this forecast period. Zoom calls have become more commonplace due to employees doing more of their work while away from their desks. People are more self-conscious than ever before about their appearance. Because of this, there has been a rise in demand for cosmetic operations such as Botox. Interest in non-invasive operations has grown in the last several months, but interest in more intrusive procedures has decreased.
Competitive Landscape:
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.
Market Segmentation
According to the research findings, the worldwide cosmetic surgery market can be broken down into segments based on the various kinds of procedures and geographic locations.
In 2021, the non-invasive procedures category accounted for more than 54.0 per cent of the market's sales. In the next years, this market category is expected to grow quickly, ensuring its hegemony over the whole market. Non-invasive treatments are becoming popular because of their convenience, speed, and cheap cost. Chemical peels, Botox injections, and soft tissue fillers are well-known non-invasive cosmetic treatments.
Regional Classification
North America accounts for the majority of sales. The market in the area is expected to increase gradually over the next several years. Cosmetic surgery is becoming more widely accepted, and people are becoming more aware of it, a major factor in the industry's growth. In addition, the region's cosmetic surgery suppliers business is benefiting from considerable advancements in allied technology, such as enhanced silicone and polymer implants.
The cosmetic surgery market is very competitive worldwide, with the European region holding the second-largest share. Cosmetic surgery market expansion in the area is fueled by an improved economy and a rise in the number of patients. In addition, increasing levels of knowledge and developments in medical advances are having a positive impact on the expansion of the cosmetic surgery sector in this area.
Industry News
GC Aesthetics, Inc. will introduce a new line of breast implants called PERLE in May 2021. With its patented surface technology, GCA's leading gel integration, and updated preventive measures that have supported GCA's long-term great safety record, PERL is an extremely creative range of seamless breast implants.
The FDA authorised Defyne for the augmentation and repair of mild to severe chin retrusion in people over 21 in February 2021, Galderma stated.
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