According
to a new report by Market Research Future (MRFR), the global market for
cosmetic surgery has reached a revenue of $ 21.97 billion by the end of 2023.
The market has been estimated to expand at 7.8% CAGR over the assessment period
(2017-2023) mainly due to social and cultural factors like influence of film
industry, media, and fashion. Plastic surgery is a special surgery segment
which involves reconstruction, restoration, and alteration of the human body
and enhance the appearance of the body. Procedures includes both nonsurgical
and elective surgical procedures
The
increasing awareness about reliability and effectiveness of cosmetic surgery
has fueled the demand for the same, for instance, The American Society for
Aesthetic Plastic Surgery estimates an increase of 6.5% in the total number of cosmetic surgical procedures in 2013 with
almost 1.9 million surgeries performed. The health-related
factors that will catapult the growth of the market are rise in obesity, the growing safety margin of cosmetic surgery,
growing number of cosmetic surgery hospitals, etc. Other factors that will
catalyze the boom in the market are advanced treatment such as silicone
implants, rising per capita income,
increased affordability, presence of
skilled surgeons, proven results, medical tourism, minimum risk, etc. The
growing acceptance of cosmetic surgery among the male gender also holds the potential to drive the market growth.
The
restraints that can affect the market negatively are non-essential nature of cosmetic surgery, social taboos against
violation of body parts, high cost of
cosmetic surgeries despite fall in price, etc.
Key players of Global Cosmetic Surgery
Market:
·
Johnson & Johnson
·
Valeant Pharmaceuticals International
·
Cutera, Inc.
·
Syneron Medical Ltd.
·
Allergan, Inc.
·
Genesis Biosystems, Inc.
Segmentation:
The
global cosmetic surgery market has been segmented based on surgical procedures,
non-surgical procedures, and region.
Major
surgical cosmetic procedures comprise lipoplasty, cosmetic ear surgery,
cosmetic eyelid surgery, gynecomastia treatment, breast augmentation,
abdominoplasty, breast reduction, and breast lift. Among these, breast
augmentation and lipoplasty are the most popular surgeries. The number of
breast augmentation process has increased owing to the reintroduction of
silicone gel breast implant in 2006 by FDA. These procedures are costlier than
non-surgical procedures and thus have to depend on insurance coverage.
Non-surgical
procedures comprise laser therapy of leg veins, cosmetic injectables,
sclerotherapy, laser hair removal, and skin rejuvenation. Among these, cosmetic
injectables are expected to dominate the market during the assessment period.
Cosmetic injectables can be sub-segmented into hyaluronic acid, poly-l-lactic
acid, calcium hydroxyapatite, botulinum toxin type A, and collagen. Skin
rejuvenation is further sub-segmented into noninvasive tightening, intense
pulsed light laser treatment, Fraxel, chemical peel, and dermabrasion.
Regional analysis
US accounts for the
maximum market share of the global cosmetic surgery market and the market is
expected to increase continuously in coming years. This can be attributed to
increasing pool of awareness and the growing acceptability of cosmetic surgery.
Advancing technologies within the cosmetic surgery such as advanced silicone
and polymer implants is also driving the market. However there is a definite
shift of cosmetic surgery market to Asia pacific and Latin America with the
most active part played by tourism industry.
Detailed
Table of Contents:
1
Introduction
1.1
Definition
1.2
Scope Of Study
1.2.1
Research Objective
1.2.2
Assumptions & Limitations
1.2.2.1
Assumptions
1.2.2.2
Limitations
1.3
Market Structure:
2
Research Methodology
2.1
Research Process
2.2
Primary Research
2.3
Secondary Research
3 Market Dynamics
3.1
Drivers
3.2 Restraints
3.3
Opportunities
3.4
Macroeconomic Indicators
9 Conclusion
9.1 Key
Findings
9.1.1
From Ceo’s Viewpoint
9.1.2
Unmet Needs Of The Market
9.2 Key
Companies To Watch
9.3
Prediction Of Medical Robots Industry
10 Appendix
...Continued
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