Cosmetic Surgery and Procedure Market Analysis Reports Revenue Growth Globally During The Forecast Period 2020-2030
The Cosmetic Surgery and Procedure Market - Global Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, production and consumption, ecosystem analysis, competitive landscape, and market composition analysis.
Fueled by the rapid growth of aesthetic industry, rise in aging population, and surge in medical tourism across developing countries, the global cosmetic surgery and procedure market is anticipated to expand rapidly during forecast period. Asian countries, particularly India, Singapore, Thailand, South Korea and Malaysia are anticipated to be most lucrative markets owing to rising number of qualified health care professionals, and development of healthcare infrastructure for international visitors. Another factor fueling the growth of global cosmetic surgery and procedure market is anticipated to be the rise in disposable income. Consequently, the global cosmetic surgery and procedure market is anticipated to grow at a healthy CAGR of 6.5% during the forecast period.
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Breast Augmentation and Liposuction to account for largest number of surgical procedures across the globe
The global cosmetic surgery and procedure market has been segmented based on type, and geography. Based on type the cosmetic surgery and procedure market is segmented into surgical procedures and non-surgical procedures. The surgical procedures are further sub-segmented into breast augmentation, liposuction, tummy-tuck, eyelid surgery, and breast lift. Similarly, the Nonsurgical procedures are sub-segmented into botulinum toxin, dermal fillers, laser hair removal, chemical peels, photo-rejuvenation, and microdermabrasion. The surgical procedures dominated the global market in 2018 owing to enhanced safety, prolonged effects, and affordability associated with these procedures. Based on data published by the International Society of Aesthetic Plastic Surgery, the breast augmentation or breast reconstruction accounted for a largest market share of approximately 30% of the total surgical procedures performed globally in 2018. The market dominance of breast augmentation surgeries is due to rising prevalence of breast cancer along with rising demand for breast reconstruction. Additionally, liposuction surgeries accounted for approximately 16% of the total surgeries performed globally in 2018. The non-surgical procedures are anticipated to be the fastest growing cosmetic surgery owing to increasing penetration of Botulinum Toxin and Hyaluronic Acid procedures. The Botulinum Toxin non-surgical procedures are anticipated to grow at an approximate annual growth rate of 17% across the globe.
Rising preference by 40 to 54 age group for Anti-ageing cosmetic surgeries to fuel market growth
Based on age group, the global cosmetic surgery and procedure market is segmented into 13 to 19 years, 20 to 29 years, 30 to 39 years, 40 to 54 years, and 55 years & above. Among these, 40 to 54 years age group accounted for largest share in 2018 and is anticipated to be the major revenue generating segment during the forecast period owing to increasing number of surgical procedures performed to fix ageing problems such as wrinkles and prevalence of breast cancer in female.
Based on geography, the market is segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America dominated the market in 2018 owing to highest number surgical and non-surgical procedures performed in the United States. This is primarily attributed to the rise in medical tourism in the United States. South America is anticipated to contribute a significant share to the global cosmetic surgery and procedure market in 2018 with Brazil and Argentina being the largest contributors. Asia Pacific is anticipated to be the fastest growing market for cosmetic surgery and procedure during the forecast period owing to the rise in medical tourism across India, Singapore, Thailand, South Korea and Malaysia.
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Major players dominating the global cosmetic surgery and procedure market include Allergan, Alma Lasers, Bausch Health Companies Inc., Cutera, Cynosure, Galderma Laboratories LP, Hologic, Inc., Ipsen Pharma, Johnson & Johnson Services, Inc., and Merz Pharma GmbH & Co. KGaA.
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