September 29, 2020
According to recent study titled ‘GLOBAL COSMETIC SURGERY AND PROCEDURE MARKET 2019-2027’, available with Market Study Report, global cosmetic surgery and procedure market is projected to witness a healthy growth rate of 5.7% through 2027.
As per the report findings, increasing medical tourism in developing economies, growing cognizance about importance & method of aesthetic treatments, rising per capita income, and expanding geriatric population are the major factors driving the global cosmetic surgery and procedure market growth. Further, escalating demand for energy-based liposuction procedures are expected to present new growth opportunities in the ensuing years.
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On the contrary, rise in explant procedures, side effects linked with breast implants, and availability of substitute treatments are likely to restrain the industry revenue. In addition, complications in reimbursement and high treatment costs have emerged as major challenges for organizations.
Based on type, global cosmetic surgery market industry is bifurcated into surgical and non-surgical. Surgical segment is further split into liposuction, breast augmentation, eyelid surgery, breast lift, tummy tuck, and others. Non-surgical segment is divided into dermal fillers, botulinum toxin, laser hair removal, microdermabrasion, chemical peel, photo-rejuvenation, and others.
Considering the regional outlook, worldwide cosmetic surgery and procedure market is fragmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific is anticipated to capture a sizeable portion of the market share in the upcoming years owing to spike in demand for such procedures and increasing establishment of new cosmetic clinics, particularly in India and China. Moreover, rise in number of new players, increased healthcare expenditure, positive economic status, growing self-consciousness, and rising awareness about minimally invasive procedures are the other rationales contributing to the regional business expansion.
Top competitors shaping global cosmetic surgery and procedure market trends are Merz Pharma GmbH & Co. KGaA, Lumenis Ltd., Bausch Health Companies Inc., Johnson and Johnson, Alma Lasers Ltd., Nestlé S.A., Allergan Inc., Sientra Inc., and Cynosure Inc. among others.