Cosmetic Surgery and Services Market Size to Grow at a CAGR of 6.5% During the Forecast Period 2020-2025

Cosmetic Surgery and Services Market size in 2019 is estimated to be $25 billion, growing at a CAGR of 6.5% during the forecast period 2020-2025. Plastic surgery helps to modify a person’s appearance and helps to provide facial reconstruction that has been damaged. Cosmetic surgery is a type of plastic surgery that includes surgical and non-surgical procedures that enhance and reshape structures of the body to improve appearance and confidence. Increasing demand of minimally invasive and non-invasive procedures and rising awareness of advanced techniques are the major factors driving the growth of the market. Moreover, rising disposable income and advancement of R&D activities further enhance the overall market demand for cosmetic surgery and services during the forecast period 2020-2025.

Cosmetic Surgery and Services Market Segment Analysis - By Non-Surgical Treatment

Based on the Non-Surgical Treatment, Cosmetic Surgery and Services Market is segmented into botulinum toxin, dermal fillers, laser hair removal, photo-rejuvenation, microdermabrasion. The Botulinum toxin segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 5.9% during the forecast period 2020-2025. This is mainly owing to its benefits including the treatment of painful muscle spasm and cosmetic treatment as well as in controlling the muscle movement. According to the American Family Physician Journal, botulinum toxin injection for the treatment of facial wrinkles is the most frequently performed cosmetic procedure in the United States which is approved by the US FDA, which further contributes to the growth of this segment.

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Cosmetic Surgery and Services Market Segment Analysis - By End Use Industry

Based on the End-Use Industry, Cosmetic Surgery and Services Market is segmented into hospitals, surgical centers, others. In 2019, hospitals held the largest share in the Cosmetic Surgery and Services Market. This is mainly owing to growing surgical procedures performed in hospitals and increasing demand for cosmetic and reconstructive surgeries are contributing to the growth of this segment.

Cosmetic Surgery and Services Market Segment Analysis - By Geography

North America dominated the Market share accounting for 45% of the market in 2019. This is mainly owing to increase in number of people focusing on external aesthetics, acceptance of novel cosmetic treatments and the advancement in technology of cosmetic procedures. According to American Society of Plastic Surgeons, about 17.7 million cosmetic surgeries are performed in 2018, which suggests high demand of these procedures and services in the region.

However, the Asia Pacific region is projected to be the fastest-growing during the forecast period 2020-2025. This is owing to the increasing demand for cosmetic surgeries owing to rise in social influence on the idea of beauty along with development of healthcare infrastructure.

Cosmetic Surgery and Services Market Drivers

Increasing Demand of Minimally Invasive and Non-Invasive Procedures

Increasing demand of minimally invasive and non-invasive procedures, rapid improvement in cosmetic treatment procedures are some factors driving the market growth of this segment. Moreover, increasing availability of minimally invasive cosmetic procedures reduce the healing time for patients and promote greater effectiveness which are increasing the market growth of cosmetic surgery and services.

Rising Awareness of Advanced Techniques

Rising awareness of advanced techniques and increasing availability of cosmetic procedures are some factor driving the growth of the market. Moreover, technological advancements in the cosmetic surgery techniques are contributing to the growth of Cosmetic Surgery and Services Market.

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Cosmetic Surgery and Services Market Challenges

Unavailability or improper reimbursement criteria and stringent regulations are challenging the growth of the market. Moreover, complications associated with cosmetic procedures are further restraining its market growth during the forecast period 2020-2025.

Cosmetic Surgery and Services Industry Outlook

Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Cosmetic Surgery and Services Market. Cosmetic Surgery and Services top 10 companies are Bovie Medical Corporation, Cynosure, Inc., Ipsen Pharmaceuticals, Sientra Inc., Alma Lasers, Cutera, ALLERGAN, Bausch Health, Galderma laboratories, Hologic Inc., and Merz Pharma.

Acquisitions/Product Launches:

On March 2018, Bovie Medical Corporation launches Renuvion, providing cosmetic medical devices. This launch enhances their ability to fully commercialize their patented surgical product, “J-Plasma”.

On June 2017, Hospitality Skin Spa has introduced truSculpt 3D from Cutera, in which is non-invasive body contouring treatments.

Key Takeaways

In 2019, North America dominates the Cosmetic Surgery and Services Market owing to increase in number of people focusing on external aesthetics, acceptance of novel cosmetic treatments and the advancement in technology of cosmetic procedures.

Increasing demand of minimally invasive and non-invasive procedures and rising awareness of advanced techniques is driving the market growth of cosmetic surgery and services.

Detailed analysis of the Strength, Weaknesses, and opportunities of the prominent players operating in the market will be provided in the Cosmetic Surgery and Services Market report.

Unavailability or improper reimbursement criteria and stringent regulations are challenging the growth of the market.

Related Reports :

A. Plastic Surgery Instruments Market

https://www.industryarc.com/Research/Plastic-Surgery-Instruments-Market-Research-501405

B. Cosmetic Surgery And Procedure Market

https://www.industryarc.com/Research/Cosmetic-Surgery-And-Procedure-Market-Research-503990

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