The Global Cosmetic Surgery Market Size Was Valued At USD 53.79 Billion In 2021. The Market Is Projected To Grow From USD 55.65 Billion In 2022 To USD 71.93 Billion By 2030, Exhibiting A CAGR Of 3.7% During The Forecast Period.

Cosmetic Surgery Market

Overview:

The global COVID-19 pandemic has been unprecedented and shocking. As a result, demand for cosmetic surgery has been lower than expected in all regions compared to levels before the pandemic. Based on our research, the global market was 17.8% smaller in 2020 than it was in 2019.

Every year, more and more people use cosmetic procedures to improve their looks. Also, dermatology conditions are becoming more common and there are a lot of people who need to be treated, which is making the market need and demand for these procedures grow.

According to information released by the British Skin Foundation in 2020, almost 60% of people in the U.K. have some kind of skin problem.

But the number of people getting cosmetic surgery is growing because of new technologies and devices for treating skin problems and better ways to pay for cosmetic procedures. Non-surgical procedures are also becoming more popular because people want simple, painless ways to look younger and healthier without complications.

Key players in cosmetic surgery are also working on making new products and getting approvals for them to strengthen their market position. For example, in June 2020, Cynosure released the Elite iQ aesthetic workstation in the U.S., Europe, and Australia. This machine can be used to remove hair with a laser and make the skin look younger. The company's position in the developed market was strengthened by this launch.

Also, more people are travelling from other countries to get cosmetic surgery, which is called "medical tourism." New cosmetic clinics are also opening, which will help the cosmetic surgery market grow over the next few years.

Market Dynamics:

Latest Trends:

Men are becoming more interested in cosmetic procedures and using them more often every year. This is because men are worried about getting older and want to keep their youthful appearance. Also, more and more men are getting non-surgical procedures like dermal fillers and botulinum toxin injections. This is increasing the number of procedures done and has helped the market grow as a whole.

The International Society for Aesthetic Plastic Surgery (ISAPS) says that around 3.4 million cosmetic procedures will be done on men around the world in 2020.

Men also have eyelid surgery, liposuction, gynecomastia, rhinoplasty, botulinum toxin, and hair removal as their top surgical and non-surgical procedures.

In 2020, the International Society of Aesthetic Plastic Surgery (ISAPS) reported that liposuction, botulinum toxin, and hair removal were some of the most common procedures done on men.

Overall, more men are getting cosmetic procedures because of the above reasons and the fact that the balance between men and women is getting better.

Driving Factors:

In the past few years, the demand for cosmetic procedures has slowly changed as the importance of looks has grown. The market is looking good because more and more people are paying attention to how they look.

Women's interest in cosmetic procedures like breast augmentation, liposuction, eyelid surgery, abdominoplasty, breast lift, and others is driving up the market demand for these kinds of procedures. Based on a survey done by the International Society of Aesthetic Plastic Surgery (ISAPS) in 2020, 86.0% of all cosmetic procedures done around the world are done on women.

Patients are now more likely to choose non-invasive or minimally invasive cosmetic procedures over surgical ones. People choose non-surgical procedures because they have benefits like less pain, less recovery time, and lower healthcare costs, among others.

In 2021, the Aesthetic Society reported that about 4.5 million non-surgical cosmetic procedures were done in the U.S., out of a total of 6.8 million cosmetic procedures done around the world.

The growth of the market is also being driven by the above-mentioned factors, as well as by key players' investments in research and development and the introduction of new products.

Restraining Factors:

As aesthetic procedures become more popular in the U.S., Germany, Brazil, and other places, more cosmetic procedures are being done. This has made the treatment more complicated, which has slowed the growth of the market. During or after the cosmetic procedure, there could be a number of problems.

Procedures done by people who aren't doctors in salons, spas, and other places that aren't medical are causing more and more problems. Scars, swelling, infections, and nerve damage are all common problems that can happen after cosmetic procedures.

For example, hematoma is a common side effect that happens in about 2% to 4% of people who have breast augmentation. A hematoma is a pocket of blood that looks and feels like a big, painful bruise.

The Archives of Plastic Surgery says that Seroma can happen in 15% to 30% of people who have had a tummy tuck. It is a condition that happens when serum pools under the skin, causing pain and swelling.

Also, the side effects that come with using facial fillers are a big reason why the market isn't growing faster. Some of the most common problems are redness, darkening of the skin, bruising, a crooked smile, an inflammatory response, and others.

People worry about safety, which makes the number of people who get cosmetic procedures smaller. This is one of the main reasons why people don't get cosmetic procedures as often as they used to. This, along with the high costs, has hurt the market and slowed its growth.

Segmentation Analysis:

By Procedure Analysis:

The market has been divided into surgical procedures and non-surgical procedures based on how they are done.

In 2021, the market was led by the surgical procedures segment. Surgical procedures like breast augmentation, liposuction, and others are becoming more popular because the results last for a long time and don't need to be redone every few years. Also, the growth of the segment is helped by the fact that key players in the market offer approved aesthetic devices.

For example, in July 2020, Solta Medical, which is part of Bausch Health Companies Inc., released the Thermage FLX system, a radiofrequency device that is meant to tighten the skin. Thermage FLX is the only treatment for eyelids that has been approved by the FDA.

On the other hand, during the forecast period, the non-surgical procedures segment is expected to have the highest CAGR. During the forecast period, this segment will grow because non-surgical procedures like dermal fillers, botulinum toxin, hyaluronic acid, and others are becoming more popular and more people are getting them done. This growing popularity is due to the many benefits it offers, such as less time spent recovering, less time spent in the hospital, painless procedures, and more.

The International Society of Aesthetic Plastic Surgery (ISAPS) reported that around 14.4 million non-surgical procedures were done around the world in 2020.

By Gender Analysis:

The market has been split into females and males based on their gender.

In 2021, the females segment had the largest share of the market. The growth of this segment is driven by the large number of women who get cosmetic procedures like skin resurfacing and tightening, hair removal, breast reduction, and others. In addition, breast augmentation is the most common thing that plastic surgeons do all over the world.

According to information released by the International Society of Aesthetic Plastic Surgery (ISAPS) in 2020, about 21.1 million of the 24.5 million cosmetic procedures done around the world that year were on women.

On the other hand, the males segment is expected to grow over the period covered by the forecast. Men are getting more and more cosmetic procedures to improve their looks and look younger. This is increasing the demand for cosmetic procedures among men. During 2022–2029, segment growth is likely to be driven by the growing number of males getting procedures like gynecomastia and eyelid surgery, among others.

The International Society of Aesthetic Plastic Surgery (ISAPS) reported that around 210,737 gynecomastia procedures were done around the world in 2020.

By Provider Analysis:

The market is split into hospitals and specialty clinics, spas and cosmetic surgery centres, and other types of providers.

In 2021, the largest market share went to the segment of hospitals and specialty clinics. Compared to other places, hospitals and specialty clinics are where most cosmetic procedures are done. The segment is also growing because there is more demand for minimally invasive procedures and more patients are going to specialty clinics. Also, most plastic surgeons like to work with hospitals and specialty clinics that offer a wide range of services.

According to information released by the International Society of Aesthetic Plastic Surgery in 2020, 8.2 million cosmetic procedures were done in hospitals and 6.1 million were done in specialty clinics.

On the other hand, the spas and cosmetic surgery centres segment is expected to grow positively in the coming years due to the strong growth of medical tourism and the opening of new medical spas and cosmetic surgery centres.

For example, the International Society of Aesthetic Plastic Surgery (ISAPS) reported in 2020 that around 10.9% of patients from other countries travel to Brazil for different cosmetic procedures.

During the forecast period, the segment will also grow because the number of procedures done in cosmetic centres is slowly going up.

Regional Insights:

In 2021, North America had a market worth USD 16.83 billion. This region is the most important because it has a lot of highly trained plastic surgeons who do different cosmetic procedures. This region is also growing because there are more and more aesthetic clinics in the U.S. and Canada. The growth in this region is also helped by the fact that people are buying a lot of the newest, most advanced beauty devices on the market.

For example, the Aesthetic Society reported that, on average, plastic surgeons did 320 surgeries in 2021, compared to 220 in 2020.

On the world market, Europe was in second place. In countries like Germany, France, and others, the number of non-invasive procedures is growing, and new medical spas are opening. This is helping the market grow in this area. According to information released by the German National Tourist Board in 2020, there are about 350 medical spas in Germany that are open and running.

During the time frame of the forecast, Latin America is expected to have the highest CAGR. The market in this region is growing because there is a growing interest in medical tourism, innovative techniques are being used in many aesthetic clinics, and patients can get cosmetic procedures at a price they can afford.

For example, in June 2022, the Silicone Center clinic in Brazil announced that it would offer different sizes of silicone prosthesis implants at reasonable prices for breast augmentation procedures to meet customer needs.

Scope Analysis

Recent Development:

• July 2022 – Cutera announces the approval of AviClear, the first and only laser treatment device approved in the US to treat mild, moderate and severe acne.
• June 2022 – Cynosure launched the PicoSure Pro device with an advanced lens focus array made of platinum that helps reduce wrinkles, acne scars and pores by increasing the content of collagen and elastin.
• May 2022 – Apyx Medical announced that it has received 510(k) clearance from the US FDA for the use of Renuvion skin handpieces in certain skin resurfacing procedures.
• February 2021 – GALDERMA received US FDA approval for Restylane Defyne to augment and correct mild to moderate chin protrusion.
• February 2021 – Merz Pharma announces the launch of BELOTERO BALANCE + Lidocaine in the US. BELOTHERO BALANCE is a hyaluronic acid (HA) filler for etching lines and the benefits of lidocaine formulation provide a flawless finish to filler patients.
• July 2020 – Solta Medical of Bausch Health Companies Inc. launches the Thermage FLX system, a skin-tightening radiofrequency device. Thermage FLX is the only FDA-approved system for eyelid treatment.

Market Segmentation

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:

• Females
• Males

By Provider:

• Hospitals & Specialty Clinics
• Spas & Cosmetic Surgery Centers
• Others

By Companies:

• 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.)
• Others