USD 67.3 billion
Report ID: SQMIG35C2004 | Region: Global | Published Date: September, 2022 | Pages: 157 | Tables: 98 | Figures: 76
Cosmetic Surgery Market size was valued at USD 67.3 billion in 2021 and is poised to grow from USD 75.11 billion in 2022 to USD 201.68 billion by 2030, growing at a CAGR of 11.6% in the forecast period (2023-2030).
The cosmetic surgery market is rapidly expanding. The industry is being propelled forward by technological advancements and the development of sophisticated materials such as silicone implants. Furthermore, social and cultural factors such as media, fashion, and entertainment industry influences, as well as social networking apps such as Snapchat and Instagram, are driving the global market. The non-essential nature of cosmetic surgery, the social taboo against injuring parts of the body, and the high costs associated with these surgeries, on the other hand, are some of the major barriers to the growth of the cosmetic surgery market. Economic factors such as rising per capita income and lower cosmetic surgery costs are expected to drive market growth in the coming years.
Social influences in the fashion, film, and media industries, peer pressure on appearance and charm, changing dimensions of beauty, and the expansion of the tourism sector and the establishment of medical tourism clusters such as Miami and Bangkok increased exposure to cosmetic surgery and created a high demand for these procedures. Increased obesity, accidents, increased safety margins for cosmetic surgery, and an increase in the number of cosmetic surgery hospitals are all health-related factors. The development of sophisticated materials such as silicone implants is one of the technical aspects. Economic factors such as rising per capita income and lower cosmetic surgery costs are major growth drivers in the global market.
US Cosmetic Surgery Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 67.3 billion
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The Global Cosmetic Surgery Market is segmented based on the type, gender, providers and region. Based on the type, Cosmetic Surgery Market is segmented into surgical procedures and non-surgical procedures. The surgical procedures further segmented into breast augmentation, liposuction, eyelid surgery, abdominoplasty, rhinoplasty, and others. While, the non-surgical procedures further segmented into botulinum toxin, hyaluronic acid, hair removal, nonsurgical fat reduction, photo rejuvenation, and others. Based on gender, it is segmented into females, and males. Based on providers, Cosmetic Surgery Market is segmented into hospitals & specialty clinics, cosmetic surgery centers, and others. Based on region Cosmetic Surgery Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Cosmetic Surgery Market Analysis by Gender
The global cosmetic surgery market is segmented based on product into females, and males. In 2021, the female segment will dominate the market. During the forecast period, the segment is expected to maintain its dominance. Females will account for more than 85% of surgical and non-surgical procedures performed globally in 2020, according to The International Society of Aesthetic Plastic Surgery (ISAPS). Females' increasing emphasis on personal aesthetic appearance, combined with rising per capita expenditure in emerging countries, leads to an increase in the number of females undergoing cosmetic procedures. This factor is bolstered further by the growing number of medical spas offering a variety of services as well as new and advanced instruments and products. These factors are propelling the market's female segment forward.
Cosmetic Surgery Market Analysis by Provider
The global cosmetic surgery market is segmented based on product into hospitals & specialty clinics, cosmetic surgery centers, and others. A rise in the number of licenced hospitals and specialty clinics in countries such as China, South Korea, the United States, India, and Brazil has made cosmetic surgery more accessible to patients. Despite the fact that there are numerous spas and cosmetic surgery centres offering various procedures, cosmetic surgeons prefer to be associated with hospitals and specialty clinics that offer a diverse portfolio of services. According to the International Society of Aesthetic Plastic Surgery (ISAPS), hospitals will perform approximately 47% of total cosmetic procedures.
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The global cosmetic surgery market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America region is expected to account for the largest market. In terms of the number of cosmetic surgery procedures performed in 2021, the United States is the market leader. The International Society of Aesthetic and Plastic Surgeons (ISAPS) estimates that 4.0 million cosmetic procedures were performed in the United States in 2019. This factor is aided further by the country's higher prices per procedure and higher per capita expenditure. Latin America and Asia Pacific will trail North America on the market leader board in 2021. The presence of a lucrative market in Brazil, Mexico, Colombia, and other Latin American countries, as well as growing medical tourism in these countries, are driving the growth of the Latin American cosmetic surgery market.
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Cosmetic Surgery Market Driver
The availability of technologically advanced products will boost global demand for non-surgical cosmetic procedures
Cosmetic Surgery Market Restraints
The Presence of an Unregulated Market Will Limit Growth
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The cosmetic surgery market is fragmented, with key players operating in each country and providing a diverse range of services and procedures to their customers. There is no clear dominant player in the market, which has contributed to its oligopolistic and fragmented nature. For instance, Abbvie Inc. (Allergan) maintains its market position by focusing heavily on production facility expansion and R&D infrastructure development. A few small-scale companies are also penetrating the market and gaining a significant share through product innovation.
Cosmetic Surgery Market Top Player’s Company Profiles
Cosmetic Surgery Market Recent Developments
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According to our global cosmetic surgery market analysis, rising consumer desire to boost self-esteem, as well as the development of self-monitoring applications, will increase the number of opportunities that will lead to the emergence of the cosmetic surgery and services market over the forecast period. Among surgical procedures, nose reshaping, eyelid surgery, and facelift have seen a significant increase in the number of patients undergoing these procedures. The American Society for Aesthetic Plastic Surgery (ASAPS) reports that nose reshaping (rhinoplasty) (15.2%), eyelid surgery (14.0%), and facelift (18%) will be among the most popular surgical procedures in the United States.
The cosmetic surgery market report provides qualitative and quantitative insights into the market, as well as a detailed analysis of cosmetic surgery market size and growth rate for all possible market segments. In addition, the report provides an in-depth examination of the cosmetic surgery market share, market dynamics, emerging trends, and competitive landscape.
|Market size value in 2021||USD 67.3 billion|
|Market size value in 2030||USD 75.11 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Cosmetic Surgery Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Cosmetic Surgery Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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