Cosmetic Surgery Market Size, Share and Segmentation, By Procedure Type (Invasive, Non-invasive), By Gender (Male, Female), By Age Group (13-29, 30-54, 55 and above), By Regions and Global Forecast 2024-2031

Cosmetic Surgery Market  Report Scope & Overview:

The Cosmetic Surgery Market was estimated at USD 76.63 billion in 2023 and is poised to reach 163.3 billion in 2031 anticipated to expand at a compound annual growth rate approx. CAGR of 9.92% for the forecast period of 2024-2031.

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The development of novel aesthetic devices by manufacturers has resulted in a rise in the demand for aesthetic procedures in recent years. For instance, the release of cutting-edge goods like non-invasive body sculpting devices that utilise fat freezing technology is anticipated to open up attractive development potential. The Aesthetic Society (U.S.) reports that with 140,314 operations completed in 2020, non-invasive body fat removal was among the top 5 non-invasive procedures in the U.S. Due to reasons including decreased product demand, constrained operations, temporary closures of beauty salons, and disruptions in the production and supply chain, the industry has seen a short period of negative growth. The time spent on Zoom calls has grown as a result of remote employment, nevertheless. People are very conscious of their physical appearance. The demand for cosmetic surgery has skyrocketed as a result, with Botox being one of the most popular operations. Over the past few months, interest in invasive operations has decreased while interest in non-invasive procedures has surged. As a result, the market has experienced a surge in recent months, and it is predicted that this trend will continue during the anticipated time frame. The demand for cosmetic treatments has surged in emerging nations as fitness consciousness and the desire to look youthful have grown. Consumer interest in aesthetic operations is rising in nations like India and South Korea. Examples include liposuction, nose reshaping, and Botox injections. India is one of the top 5 nations worldwide for non-surgical treatments, according to the International Society of Aesthetic Plastic Surgery (ISAPS). This demonstrates the promising future for the nation's makers of aesthetic products.

MARKET DYNAMICS

DRIVERS

• Demand for cosmetic upgrades is rising technological progress.

• Increasing available income Influence of celebrities and media exposure.

In the coming eight years, it is projected that the increased awareness of aesthetics among the general population would dramatically increase demand for cosmetic operations and other procedures. The launch of fresh aesthetic devices and a rising emphasis on physical appearance are additional variables that are anticipated to Favor market expansion substantially through 2030. The growing availability of non-surgical cosmetic procedures, rising disposable income, a rising emphasis on fitness and health, and an increase in the prevalence of various skin disorders are additional factors that are anticipated to fuel growth in the cosmetic procedures market over the course of the forecast period.

RESTRAIN

• The high procedure costs Potential dangers and issues for your health.

• Social prejudices and cultural standards Existence of non-surgical options.

Unregistered physicians and surgeons are housed in illegal premises, which is bad for business. It raises the possibility that cosmetic treatments would go poorly since patients are given subpar implants and materials. The existence of an unregulated business has been linked to a rise in the occurrences of adverse outcomes from cosmetic surgery, which is expected to restrain market growth during the forecast period.

OPPORTUNIT

• Aging population growth rising interest among men.

• medical travel.

As people seek operations to address age-related issues, the ageing population—particularly in industrialised countries presents a sizable opportunity for the cosmetic surgery business. The potential market for different surgical and non-surgical treatments has increased as a result of men's increasing acceptance of aesthetic operations. Medical tourism for cosmetic surgery has increased as a result of the globalisation of healthcare and the accessibility of less expensive procedures in other nations, creating possibilities for service providers in such areas.

CHALLENGES

• Regulatory structure ethical issues.

• Management of reputation.

The availability and accessibility of procedures might be impacted by strict rules and different legal requirements between nations. Concerns about body image ideals, informed consent, and the ethical practise of medicine are brought up by cosmetic surgery. The reputation of the whole sector can be significantly impacted by a small number of high-profile surgical errors or malpractice cases, necessitating efficient management and openness.

IMPACT OF RUSSIAN UKRAINE WAR

The Russian cosmetics sector has been severely impacted by the conflict between Russia and Ukraine. A number of small and medium-sized European businesses are attempting to fill the void left by the major players as the market is currently recovering. The battle that was started by Russia's desire to occupy Ukrainian land has been going on for more than a year. Both nations have been experiencing a 'tense calm' for fewer than 10 years, which has resulted in the current crisis. Viktor Yanukovych, the president of Ukraine, was overthrown in 2014 following months of instability and demonstrations in Kiev. After he was removed from office, Russia grabbed the Crimean Peninsula from Ukraine. Since that time, friction between Recently, both Russia and Ukraine have grown. Military confrontations earlier erupted in eastern Ukraine's Donbas area, where pro-Russian separatist organisations have proclaimed autonomous people's republics.

IMPACT OF ONGOING RECESSION

Impact due to war, Prior to February 24, huge foreign corporations controlled 70% of the Russian cosmetics market, with the European Union and the United States serving as the nation's primary cosmetics suppliers. Due to the flight of big businesses and organisations, the market had dropped by 14% by April 2022, only 2 months after that. Retail product choice decreased by 25% as a result. Consumers hoard items out of concern of running out of supply as a result of their dread of shortages. This led to a 3% increase in cosmetics purchases in the first half of 2022. However, the decline in imports was unquestionably the most significant sign of how the conflict's onset affected the Russian cosmetics business. more precisely, by 80%.

KEY MARKET SEGMENTATION

By Procedure Type

• Invasive

  • Breast Augmentation

  • Liposuction

  • Nose Reshaping

  • Eyelid Surgery

  • Tummy Tuck

  • Others

• Non-invasive

  • Botox Injections

  • Soft Tissue Fillers

  • Chemical Peel

  • Laser Hair Removal

  • Microdermabrasion

  • Others

By Gender

• Male

• Female

By Age Group

• 13-29

• 30-54

• 55 and above

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REGIONAL COVERAGE:

North America

• USA

• Canada

• Mexico

Europe

• Germany

• UK

• France

• Italy

• Spain

• The Netherlands

• Rest of Europe

Asia-Pacific

• Japan

• South Korea

• China

• India

• Australia

• Rest of Asia-Pacific

The Middle East & Africa

• Israel

• UAE

• South Africa

• Rest of the Middle East & Africa

Latin America

• Brazil

• Argentina

• Rest of Latin American

REGIONAL ANALYSES

North America

In 2021, North America had a market worth of USD 16.83 billion. The region is dominated by highly skilled plastic surgeons who execute a variety of cosmetic procedures, and the expansion of aesthetic clinics in the United States and Canada is to blame for the region's expansion. Further boosting the expansion in the area is the market's widespread adoption of the most cutting-edge aesthetic guidance.

Europe

In the world market, Europe was in second place. Market expansion in the area is being fuelled by the rise of non-invasive procedures as well as the opening of new medical spas in nations like Germany and France. In 2022, the German National Tourist Board reported that there were over 350 active medical spas in Germany.

Key Players

The major key players are AbbVie, AviClear, Cynosure, Evolus Inc., RevanceGalderma, Lumenis, Solta Medical, Syneron Candela, Alma Laser, Johnson & Johnson and others.

AviClear-Company Financial Analysis

RECENT DEVELOPMENT

AviClear:

The first and only laser therapy device to be certified in the US to treat mild, moderate, and severe acne is called Aviclear, and Cutera announced its certification in July 2022.

Cynosure:

By boosting the amount of collagen and elastin in the skin, Cynosure's Picosure Pro gadget, which includes an enhanced lens focus array composed of platinum, was introduced in July 2022.