Report Overview

According to the deep-dive market assessment study by Growth Plus Reports, the global cosmetic surgery market  was valued at US$ 45.80 billion in 2021 and is expected to register a revenue CAGR of 3.10% to reach US$ 60.28 billion by 2030.

Market Fundamentals 

Cosmetic surgeries are invasive and non-invasive procedures done for changing physical appearance. Female mostly prefers cosmetic surgeries to enhance physical appearance and to fix the physical damage to get self-confidence and self-esteem. The introduction of novel technology and novel dermal fillers are increasing the demand for cosmetic surgeries. The most common cosmetic surgeries performed are rhinoplasty done for changing the shape of the nose, eyelid surgery which removes excess skin from eyelids, lip augmentation procedure to improve the shape of lips, restoration, and reconstruction. 

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Market Dynamics

The global cosmetic surgery market is mainly driven by increasing awareness about cosmetic surgeries, technological advancement, and growing social media influence. Additionally, the introduction of robotic surgeries and AI assistants are contributing to the revenue growth of the global cosmetic surgery market. Moreover, increasing disposable income and growing demand for cosmetic surgery amongst celebrities are boosting the revenue growth of the global cosmetic surgery market. Also, increasing demand for medical tourism is boosting the global cosmetic surgery market. However, the risk associated with cosmetic surgery, the excessive cost of the procedure, and increasing awareness about body positivity are holding back the revenue growth of the global cosmetic surgery market.

Market Ecosystem

The global cosmetic surgery market is analyzed from four perspectives: type, gender, provider, and region. 

Cosmetic Surgery Market by Type

Based on type, the global cosmetic surgery market is segmented into invasive procedures (eyelid surgery, abdominoplasty, rhinoplasty, and others) and non-invasive procedures (botox, dermal fillers, hair removal, nonsurgical fat reduction, photo rejuvenation, and others). 

Non-invasive surgical procedures are leading the global cosmetic surgery market owing to increasing demand for non-invasive surgical procedures such as dermal filling, soft tissue filler, chemical peel procedure, and laser skin resurfacing. Additionally, the low cost and minimal risk of the non-invasive procedure as compared to invasive surgical procedures are boosting the demand for non-invasive surgical procedures. Invasive surgical procedure is also expected to register the highest revenue growth in upcoming years owing to increasing demand for nose reshaping procedure, and rising cases of deformities and birth defects. 

Cosmetic Surgery Market by Gender

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Based on gender, the global cosmetic surgery market is segmented into males and females. 

Females are leading the global cosmetic surgery market owing to increasing demand for cosmetic correction, more obsession with physical appearance, and high visible aging effect. Additionally, increasing disposable income, rising social medical influence, and increasing use of beauty cameras are driving the revenue growth of the female cosmetic surgery market. Moreover, increasing pregnancy marks and rising breast cancer are also contributing to the revenue growth of the cosmetic surgery market. According to the American Society of Plastic Surgeons total of 15.6 million cosmetic procedures is performed in 2020 and females accounted for the highest which is 92% of all cosmetic procedures i.e., 12.4 million total cosmetic procedures.

Cosmetic Surgery Market by Providers

Based on providers, the global cosmetic surgery market is segmented into hospitals & specialty clinics, ambulatory centers, and cosmetic surgery centers. 

The cosmetic surgery centers segment is leading the global cosmetic surgery market owing to increasing demand for aesthetic procedures like eyelid surgery, facelifts, nose jobs, smile makeovers, and wrinkle treatments. Moreover, the availability of skilled surgeons and the high adoption of novel technologies are also expected to propel the revenue growth of the market. Additionally, the aging population, rising interest in cosmetic surgery, and rising patient traffic at cosmetic clinics are also contributing to the revenue growth of the segment in the global market.

Cosmetic Surgery Market by Region

Based on region, the global cosmetic surgery market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. 

North America dominated the global cosmetic surgery market in terms of revenue share. The large share of North America in the global market can be attributed to high disposable income, increasing adoption of technology, and availability of skilled surgeons in the region. Additionally, developed infrastructure and top-notch healthcare systems are boosting the North America cosmetic surgery market revenue growth. Moreover, the high presence of key players and growing numbers of cosmetic clinics & ambulatory centers are fueling the North America cosmetic surgery market. According to the American Society of Plastic Surgeons total of 15.6 million cosmetic procedures and 6.8 million reconstructive procedures is performed in 2020.

The prominent players operating in the global cosmetic surgery market are:

• AbbVie
• Cynosure
• Evolus Inc.
• RevanceGalderma
• Lumenis
• Solta Medical
• Syneron Candela
• Alma Laser
• Cutera Inc.
• Cynosure, Inc.
• GALDERMA SA 

Strategic Developments

• In October 2020, Allergan Aesthetics subsidiary of AbbVie Company acquired innovative Luminera's dermal filler business. Allergan Aesthetics acquired Luminera's entire dermal filler portfolio and R&D pipeline in accordance with the terms of the deal, thereby boosting Allergan Aesthetics' leading dermal filler portfolio with its JUVÉDERM® collection of fillers.

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