Cosmetic surgery includes a wide range of surgical and nonsurgical procedures that enhance and reshape structures of the body to improve appearance and confidence. Nonsurgical cosmetic treatments involve dermal fillers, Botox injections, chemical peels, and laser hair removal. Minimally invasive surgical procedures include breast augmentation, liposuction, and eyelid surgery. The increasing demand for minimally invasive procedures over traditional cosmetic surgeries is one of the major drivers of market growth. These procedures offer advantages such as shorter recovery time, reduced complications, minimal scarring and downtime from regular activities. The global Cosmetic Surgery Market is estimated to be valued at US$ 57.35 Bn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand for minimally invasive cosmetic procedures is one of the primary growth drivers of the cosmetic surgery market. Minimally invasive cosmetic treatments allow alteration of facial features without extensive surgery. For instance, dermal fillers and Botox injections temporarily smooth wrinkles and folds, lift tissues, and shape contours. These procedures provide natural-looking results with minimal pain, scarring and recovery time. With rising awareness about these options, more people are opting for minimally invasive cosmetic treatments over traditional cosmetic surgeries. Social media is further fueling the trend as many popular influencers openly share their experiences with these procedures. Rising preference for non-invasive aesthetics among millennials and Generation Z is a major factor driving growth of the overall market.
Segment Analysis
The global cosmetic surgery market is dominated by facial cosmetic surgery procedures sub segment. This sub segment accounts for around 34% of the total market share as there is a high demand for facial procedures such as breast augmentation, liposuction, eyelid surgery, facelift among others. Procedures related to body reshaping such as lipoplasty, breast enlargement and reduction are other major sub segments.
Key Takeaways
The global cosmetic surgery market is expected to witness high growth over the forecast period. Non-surgical or minimally-invasive procedures are gaining popularity in the market. Younger population is opting for non-invasive treatments to look fit and attractive which is contributing to the overall market growth.
Regional analysis: North America currently dominates the global cosmetic surgery market owing to high awareness about cosmetic procedures and their benefits. Moreover, rising trend of social media influencing population to opt for these surgeries to enhance beauty also drives market growth. Asia Pacific is anticipated to witness fastest growth during the forecast period aided by improving healthcare infrastructure and rising medical tourism across countries like India, China and Thailand.
Key players operating in the cosmetic surgery market are Bausch Health Companies Inc. (Canada),Johnson & Johnson Services, Inc. (MENTOR) (U.S.),AbbVie Inc. (U.S.),Cutera (U.S.),Merz Pharma (Germany),GALDERMA (Switzerland),Sientra, Inc. (U.S.),Cynosure (U.S.),Apyx Medical (U.S.),Long Island Plastic Surgical Group, PC (U.S.). These companies are focusing on new product launches and geographical expansion to increase their market share.
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