Visiongain has released a new report titled Cosmetic surgery 2022-2032. It includes cosmetic surgery profiles and forecast of market segment by type (invasive procedures, non-invasive procedures), market segment by invasive procedures (breast augmentation, liposuction, tummy tuck, eyelid surgery, nose reshaping surgery) , Market Segment by Non-Invasive Procedures (Soft Tissue Fillers, Botox Injections, Laser Hair Removal, Chemical Peels, Microdermabrasion), Market Segment by Gender (Female, Male), Market Segment by End Users (Hospitals and specialized clinics, outpatient surgery centers, cosmetic surgery centers) as well as COVID-19 impact analysis and recovery pattern analysis (‘V-shaped’, ‘W-shaped’, “U”, “L” shaped), profiles of major companies, region and country.
The Cosmetic Surgery Market was valued at USD 44.31 Billion in 2021 and is expected to grow at a CAGR of 9.44% during the forecast period 2022-2032.
Growing strategic initiatives propelling the growth of the market
Marketing, promotions, inventions, and mergers, acquisitions, and partnerships are all important management techniques in the cosmetic surgery industry. This is due to the huge untapped cosmetic surgery market caused by a lack of knowledge about the benefits and features of cosmetic surgery. New and safe products, public awareness and advanced technology are important factors in the adoption of cosmetic surgery procedures. For example, in March 2022, AbbVie’s Allergan Aesthetics expanded its product geographic presence by launching the HARmonyCa product in Europe and select EMEA countries. Additionally, in March 2021, Hikma Bausch Health subsidiary Solta launched the Clear + Brilliant Touch Laser in the United States.
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How has COVID-19 had a significant impact on the cosmetic surgery market?
Additionally, as a result of COVID-19, cosmetic surgery will face a setback. Consumers prefer non-invasive surgeries, which, combined with heightened safety measures, have made cosmetic treatments less appealing until reliable, mass COVID-19 testing becomes available. Even before the epidemic, a paradigm shift towards minimally invasive operations using fillers, injectables and threads was gaining momentum. Cosmetic procedures, according to cosmetic industry experts, are elective and will only continue after the disease has been brought under control and the supply chain of hospital resources has been restored to basic levels.
How will this report help you?
Visiongain’s 234-page report provides 102 charts and 128 charts/graphs. Our new study is suitable for anyone who needs in-depth business analyzes for the cosmetic surgery market, as well as a detailed analysis of market segments. Our new study will help you assess the entire global and regional cosmetic surgery market. Obtain financial analysis of the overall market and different segments including Type, Invasive Procedure Type, Non-Invasive Procedure Type, Gender, End User and capture a higher market share. We believe there are strong opportunities in this growing cosmetic surgery market. Find out how to use the existing and upcoming opportunities in this market to generate revenue in the near future. Moreover, the report will help you improve your strategic decision-making, enabling you to set growth strategies, strengthen analysis of other market players and maximize business productivity.
What are the current market drivers?
Awareness of minimally invasive cosmetic surgery is driving adoption
Modern minimally invasive cosmetic procedures have presented potential scenarios for altering appearance safely and in a shorter time over the past two decades. Non-surgical cosmetics are becoming increasingly popular due to the benefits of effective results, simple procedures, and technological improvements. Without considerable surgical technical complexity, minimally invasive surgery can be readily available for the self-administration of cosmetic items. Additionally, various products, such as Botulinum Toxin Type A procedure, lasers, chemical peels, skin fillers, etc., are preferred as the use of the scalpel is often avoided. Minimally invasive cosmetic surgery has seen an increase of more than 160% over the past two decades. Non-invasive cosmetic solutions offer a faster onset of effect, better patient compliance and a lower risk of aesthetic surgical consequences.
Rising Disposable Income Driving the Growth of the Cosmetic Surgery Industry
The cosmetic surgery market is growing as disposable income in low- and middle-income countries increases. Recreational activities such as travel and entertainment programs were interrupted during covid-19, resulting in an increase in discretionary funds. Additionally, physical travel was banned during covid-19, forcing many experts to work online from a remote location. Consumers, especially women, become embarrassed during video chats due to their appearance, reducing their self-confidence and leading to a 55% increase in facial surgeries in the United States by 2021. Additionally, in 2021, approximately 94.0% of cosmetic procedures performed in the United States were performed on women. Additionally, these procedures are convenient, time-consuming, and easy to manage using COVID-19 compliances.
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Where are the market opportunities?
Growing demand for new cosmetic products to reduce procedure costs
Awareness of necessary and unconditional cosmetic surgery has increased dramatically across the world. Yet, the availability of affordable cosmetic surgery is a major concern in the cosmetics industry. Cosmetics manufacturers need to tackle the supply side by designing viable business models to provide consumers with advanced cosmetic surgery products at reasonable costs. Manufacturing processes for cosmetic products/devices require strict compliance with consumer safety regulations. Thus, the growing demand for new cosmetic products has driven the expansion of business activities of cosmetic surgery manufacturers, thereby driving the growth of the market in the near future.
Major players operating in the cosmetic surgery market are AbbVie Inc., Bausch Health Companies Inc., Candela Medical Inc., Cutera, Cynosure, GALDERMA, HansBioMed, Huadong Medicine Co., Ltd., Johnson & Johnson Services, Inc. , Lumenis Be Ltd., Medytox, Merz Pharma, Sientra, Inc. and Suneva Medical, among others. These major players operating in this market have adopted various strategies such as mergers and acquisitions, collaborations, R&D investments, regional business expansion, partnerships, and new product launches.
In March 2022, Lumenis Ltd. launched a new triLift device, which is a facial stimulation device that treats the three tissue layers – muscle, dermis and epidermis – targets the three signs of aging – structure, contour and texture. This product development is expected to drive the adoption of cosmetic surgeries.
In March 2022, Sientra Inc. received Health Canada approval to begin marketing HSC and HSC+ round smooth silicone gel breast implants in Canada. Following this approval, the company intends to begin marketing in Canada with a distribution partner, Kai Aesthetics, Inc.
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