Market Overview:
Cosmetic surgery products and procedures enhance physical beauty through surgical and non-surgical procedures. Cosmetic surgeries help in reshaping and restructuring certain body parts or reversing the signs of aging. Some common cosmetic surgeries include facelift, breast augmentation, liposuction, and eyelid surgery.
The global Cosmetic Surgery Market is estimated to be valued at US$ 57.35 Bn or billion 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 rising focus on physical appearance and growing consumer spending on cosmetic treatments are fueling the market growth. The increasing popularity of non-invasive cosmetic procedures such as botulinum toxin injections, chemical peels, and laser treatments boosts the demand. Additionally, technological advancements in cosmetic surgery techniques have helped in providing quicker and less painful procedures with minimum downtime, increasing their acceptance across various age groups globally. Further, social media influencers and celebrities openly supporting cosmetic enhancements normalize the concept and induce prospective consumers. However, stringent regulations and ethical concerns related to certain procedures pose challenges to market players.
Get more insights on this topic: https://www.coherentmarketinsights.com/market-insight/cosmetic-surgery-market-4517
SWOT Analysis
Strength: The cosmetic surgery market witnesses strong demand due to the rising self-esteem and confidence among consumers. People are willing to spend on surgeries to enhance their physical appearance.
Weakness: High costs associated with cosmetic surgery procedures restrict its access. Some procedures also involve medical risks if not performed carefully by experts.
Opportunity: Growing medicinal tourism in countries like India and Thailand for cost-effective cosmetic surgeries presents an opportunity. Rising awareness about minimally invasive procedures expands the market scope.
Threats: Social stigmas and religious restrictions in some regions hamper the market growth. Stringent regulations and standards set by governing bodies increase operational costs.
Key Takeaways
The global cosmetic surgery market is expected to witness high growth, exhibiting CAGR of 3.9% over the forecast period, due to increasing obsession with physical appearance and desirability.
Market size: The global cosmetic surgery market size was valued at US$ 57.35 Bn in 2023 and is expected to reach over US$ 81 Bn by 2030.
Regional analysis: North America dominates the global market due to easy accessibility and higher disposable income. However, Asia Pacific is expected to grow at the fastest pace owing to low treatment costs and increasing medical tourism.
Key players: 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 players are focusing on new product innovations and mergers & acquisitions to strengthen their market position.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it