Pune, India, July 19, 2023 (GLOBE NEWSWIRE) -- The global cosmetic surgery market size was valued at USD 55.68 billion in 2022 and is expected to be worth USD 57.67 billion in 2023. The market is projected to reach USD 75.20 billion by 2030, recording a CAGR of 3.9% during the forecast period.
Cosmetic procedures have gained immense popularity in recent years as individuals belonging to all age groups and genders are focusing on improving their facial features. The rising trend of social media has prompted people to undergo cosmetic surgeries to get the desired aesthetic appearance. Moreover, the incidence of skin conditions is also on the rise every year, which will further fuel the demand for these treatments, thereby positively impacting cosmetic surgery market growth.
Fortune Business Insights™ displays this information in a report titled, "Cosmetic Surgery Market, 2023-2030."
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Key Industry Development:
June 2022 – Cynosure announced the launch of Elite iQ platform for laser hair removal and skin revitalization in the U.S., Europe, and Australia.
Key Takeaways:
- The emergence of new cosmetic clinics is expected to fuel the cosmetic surgery market growth during the forecast period.
- The segments are expected to register the highest CAGR during the forecast period.
- The 35 to 50 years segment held the largest share in the market in 2022 and is expected to witness significant growth during the forecast period.
- North America accounted for a market value of USD 17.45 billion in 2022.
- Increasing demand for latest advanced aesthetic devices during the forecast period.
Discover the Leading Players Featured in the Report:
“Companies leading the global 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.)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 3.9% |
| 2030 Value Projection | USD 75.20 Billion |
| Base Year | 2022 |
| Market Size in 2023 | USD 57.67 Billion |
| Historical Data | 2019 to 2021 |
| No. of Pages | 158 |
| Segments covered | By Procedure, Gender, Age Group, Provider, and Region |
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Segments:
Long-Term Benefits of Surgical Procedures to Boost their Demand
Based on procedure, the market is segmented into surgical procedures and non-surgical procedures. The surgical procedures segment is estimated to hold a dominant cosmetic surgery market share as these treatments provide long-term benefits once done. This means that patients do not need to undergo these surgeries after every few years. Some of the common examples of these treatments include breast augmentation and liposuction.
Females to be Main Customers for Cosmetic Treatments Due to Rising Focus on Aesthetic Appearance
On the basis of gender, the market is segmented into female and male. The female segment accounted for the largest market share in 2022 as women undergo cosmetic surgery for various purposes, such as wrinkle reduction, hair removal, and skin tightening to enhance their aesthetic appearance.
Customers Aged 35 to 50 Years to Opt for Cosmetic Treatments Due to Demand for Non-Surgical Procedures
Based on age group, the market is segmented into 18 years & younger, 19 to 34 years, 35 to 50 years, 51 to 64 years and, 65 years & above. The 35 to 50 years segment held the largest share in the market in 2022 and is expected to witness significant growth during the forecast period due to the rising preference for non-surgical treatments such as botulinum toxin.
Provision of Diverse Services to Make Hospitals & Specialty Clinics Major Service Providers
Based on provider, the market is classified into hospitals & specialty clinics and spas & cosmetic surgery centers. The hospitals & specialty clinics segment captured the largest market share in 2022 as these medical centers offer a wide range of services such as non-invasive surgeries. This will help patients choose the right treatment for themselves.
With respect to region, the market covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
By Procedure
- Surgical Procedures
- Breast Augmentation
- Liposuction
- Eyelid Surgery
- Abdominoplasty
- Rhinoplasty
- Others
- Non-Surgical Procedures
- Botulinum Toxin
- Hyaluronic Acid
- Hair Removal
- Nonsurgical Fat Reduction
- Photo Rejuvenation
- Others
By Gender
- Female
- Male
By Age Group
- 18 Years and Younger
- 19 to 34 Years
- 35 to 50 Years
- 51 to 64 Years
- 65 Years & Above
By Provider
- Hospitals & Specialty Clinics
- Spas & Cosmetic Surgery Centers
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Drivers and Restraints:
Growing Emphasis on Enhancing Aesthetic Appearance to Boost Market Progress
The demand for cosmetic treatments has grown at a steady pace every year as more people are becoming aware of these procedures and often opt for them to enhance their facial features. The increasing emphasis on improving the aesthetic appearance and delay the signs of aging has prompted many people from all age groups to try out these treatments. These factors are expected to drive the market development.
However, the various risks and complications associated with cosmetic surgeries can impede the market’s growth.
Regional Insights:
North America Market to Record Strong Growth Due to Presence of Highly Qualified Surgeons
North America is expected to dominate the market as the region has a vast presence of reputed dermatologists and plastic surgeons that carry out a wide range of cosmetic treatments. The total number of aesthetic clinics is also expanding in the U.S. and Canada, further spurring the regional market’s growth.
Europe captured the second-largest market share as the awareness regarding non-invasive procedures is rising and the network of medical spas is growing across the region.
Competitive Landscape:
Key Players to Launch Innovative Solutions to Boost their Market Presence
Bausch Health Companies Inc., AbbVie Inc., and Johnson & Johnson Services, Inc. (MENTOR) are some of the leading companies in this market. These companies have dominated the industry as they offer a vast portfolio of products and are increasing their focus on launching futuristic products in the market. The other firms in this market include GALDERMA, Cutera, Cynosure, and Merz, Pharma.
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FAQ’s
How big is the Cosmetic Surgery Market?
The Cosmetic Surgery Market size was USD 55.68 billion in 2022. It is expected to reach USD 75.20 billion by 2030.
What is the market trend in cosmetic surgery?
The Cosmetic Surgery Market will exhibit a CAGR of 3.9% during the forecast period, 2023-2030.
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