Global Cosmetic Surgery and Procedure Market Size, Share & Industry Trends Analysis Report By Procedure Type, By Non-invasive Type, By Invasive Type (Breast Augmentation, Liposuction and Others), By Regional Outlook and Forecast, 2021 - 2027
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Get in-depth analysis of the COVID-19 impact on the Cosmetic Surgery and Procedure Market
Market Report Description
The Global Cosmetic Surgery And Procedure Market size is expected to reach $107.2 billion by 2027, rising at a market growth of 9.8% CAGR during the forecast period.
Cosmetic surgery is a specialized area of medicine that focuses on enhancing one's look through surgical and medicinal methods. All sections of the head, neck, and body can benefit from cosmetic surgery. In addition, cosmetic surgery is opted by the people who want to increase the aesthetic appeal of a functional body part.
The invention of new cosmetic devices through manufactures has resulted in an increase in demand for cosmetic therapies in recent years. The overview of technologically enhanced product lines, such as non-invasive body contouring systems that use fat freezing technology, for example, is expected to generate lucrative growth opportunities.
Botulinum toxin is a naturally present deadly toxic substance with various applications. This toxin is most commonly used for the treatment of painful muscle spasms as well as for cosmetic reasons. Botulinum toxin is also known as Botox and Dysport. The small use of this toxic chemical aids in muscular coordination and this substance is very useful in cosmetic treatments.
Botox injections are known for their capabilities to degrade the appearance of facial creases. These injections are also used to treat excessive sweating (hyperhidrosis), neck spasms (cervical dystonia), an overactive bladder, and lazy eyes. Botox injections may also be useful in the prevention of chronic migraines. Additionally, Botox injections temporarily paralyze muscles by injecting a toxic substance onobotulinumtoxinA. This toxin is made by the microbiota that causes botulism, which is a form of food poisoning. Botulinum toxin was first used in a drug called Botox. AbbotulinumtoxinA (Dysport), rimabotulinumtoxinB (Myobloc), and incobotulinumtoxinA are now among the other products available (Xeomin). These injections are not interchangeable because they slightly different, especially in terms of dosage units.
Along with that, Botox injections block the effects of particular chemical transmission from nerves, most of which end up causing muscles to contract. The most common usage of these injections is to partially rest the facial muscles which end up causing fine lines in the forehead and across the eyes. These injections are used to cure issues that impact the body systems.
Plastic surgery is performed using a variety of instruments such as curettes, Awls, gouges, chisels, and mallets. Depending on their function, these instruments are classified as cutting tools, clutching or carrying instruments, and plungers.
COVID-19 Impact Analysis
The COVID-19 pandemic had a significant impact on the demand for aesthetic medicine. Originally, social distancing and a sharp drop in consumer income harmed the overall aesthetic procedure industry. The market had experienced a period of short-term negative growth as a result of factors such as temporary closures of beauty centers, limited operations, decreased product demand, and disruptions in the production and business chain. Remote working has enhanced the average time spent on Zoom calls. People are paying too much attention to about their physical appearance. It has created a market for cosmetic procedures, with Botox being one of the most popular. Non-invasive procedures have grown in popularity in recent months, while invasive procedures have declined.
Market driving Factors:
Increasing Technological enhancements and rise in demand for Minimally Invasive Procedures
The Cosmetic Surgery and Services Market is growing in conjunction with technological advancement. This is due to higher knowledge of advanced cosmetic surgery techniques and increased affordability of beauty treatments. Technologies such as Halo laser, combines ablative and non-ablative wavelengths to profit the skin on different levels. Among the radio wave, micro needling devices are the secret, Infini, vivace, and enzymes. With the advancements in technologies and treatments, the demand for more efficient aesthetic procedures is also increasing across the world. The Cosmetic Surgery and Services Industry is increasing due to the rising preference for minimally invasive procedures.
Massive attention in modeling and a professional life in aviation
Several sectors, such as modeling work and aerospace, are integrally linked to human beauty from the outside. Individual people pursuing a job in these industries must encounter certain standards of beauty. Applicants applying for the job of flight attendant must fulfill the airline's height, skin color, and body shape demands. When candidates have tattoos and piercings or scar tissue on their bodies, their applications are more often rejected. Participants who wish to pursue these career opportunities make every attempt to satisfy the criteria. Many people would prefer to have cosmetic procedures, but the recovery time and the chances of obtaining scars from stitches during surgeries often inhibit them from using it.
Marketing Restraining Factor:
Strict Regulations and Inadequate Reimbursement
Restrictive laws and inappropriate reimbursement rates are two key factors expected to nullify the expansion of the Cosmetic Surgery and Services Market. Several patients do not seek a recommendation from their general practitioner because they are extremely fearful of an unkind response or believe that plastic procedures are not essentially medical. Self-referral to the treatment center is a more suitable option. Cosmetic clinics have highly variable standards, but in response to an advertisement, the clinics frequently send representatives to the patient's home. These legislators are not medically qualified, but they suggest operations and book surgery dates, frequently offering a discount if the physician signs right away.
Procedure Type Outlook
Based on Procedure Type, the market is segmented into Non-invasive, and Invasive. Based on Non-invasive Type, the market is segmented into Botox Injections, Laser Hair Removal, Soft Tissue Fillers, Chemical Peel, Microdermabrasion, and Others. Based on Invasive Type, the market is segmented into Breast Augmentation, Liposuction, Nose Reshaping, Tummy Tuck, Eyelid Surgery, and Others. The Non-Invasive segment garnered the highest revenue share in the Cosmetic Surgery and Procedure Market in 2020. Non-surgical cosmetic process is considered minimally traumatic because it does not involve a surgical procedure. Although, like any surgical condition, these therapies may have certain negative effects, particularly if performed by unqualified practitioners. Minimal pain, better results, and cheaper prices are just a few factors boosting global demand for non-invasive procedures.
|Market size value in 2020||USD 59.4 Billion|
|Market size forecast in 2027||USD 107.2 Billion|
|Historical Period||2017 to 2019|
|Forecast Period||2021 to 2027|
|Revenue Growth Rate||CAGR of 9.8% from 2021 to 2027|
|Number of Pages||237|
|Number of Tables||404|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling|
|Segments covered||Procedure Type, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America procured the highest revenue share in the Cosmetic Surgery and Procedure Market in 2020. The major factors fueling market expansion are high cosmetic procedure adoption, rising frequency of skin problems, advanced healthcare infrastructure, and the existence of board-certified and trained cosmetic surgeons in the region. The increase in frequencies of cosmetic surgery procedures from 2000 to 2018 was analyzed by the American Society of Plastic Surgeons (ASPS).
Free Valuable Insights: Global Cosmetic Surgery and Procedure Market size to reach USD 107.2 Billion by 2027
KBV Cardinal Matrix - Cosmetic Surgery and Procedure Market Competition Analysis
The major strategies followed by the market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix; AbbVie, Inc. is the major forerunner in the Cosmetic Surgery and Procedure Market. Companies such as Cynosure, LLC, Alma Lasers Ltd., Galderma S.A. are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Evolus, Inc., Revance Therapeutics, Inc., Cynosure, LLC, Alma Lasers Ltd., Candela Medical Corporation, Bausch Health Companies, Inc., Lumenis Ltd., Galderma S.A., and AbbVie, Inc.
Recent Strategies Deployed in Cosmetic Surgery and Procedure Market
» Partnerships, Collaborations and Agreements:
- Sep-2021: Galderma entered into a co-development and option-to-acquire agreement with Sofregen Medical, a manufacturer of a biomedical silk protein. The agreement aimed to expand Galderma’s offerings intending to enable the company to offer immediate volume restoration and offer structure immediate volume restoration.
» Acquisitions and Mergers:
- Jan-2022: Galderma took over ALASTIN Skincare, a specialty aesthetics company designing skincare products. With this acquisition, the company aimed to integrate ALASTIN Skincare's seamless skincare technology into its world-leading range and innovation track record in order to fulfill the requirement of patients and aesthetic professionals.
- Apr-2021: Cynosure acquired MyEllevate surgical suture system, a minimally invasive procedure. Through this acquisition, the company aimed to expand its minimally invasive facial rejuvenation solutions portfolio by enabling practitioners to simply place a suture support system without incisions.
- Jan-2021: Allergan Aesthetics acquired Cypris Medical, a privately-held medical device company. Following the acquisition, the companies would jointly develop Xact Device, a minimally-invasive alternative option for performing neck and face lifts.
- May-2020: AbbVie took over Allergan, a world leader in pharmaceutical. This acquisition aimed to expand and diversify the revenue base of AbbVie, as well as strengthen its position in the immunology sector.
» Product Launches and Product Expansions:
- Mar-2022: Galderma rolled out the Alastin Skincare reform & repair complex with TriHex Technology. Through this launch, the company aimed to speed up the recovery process from surgical body procedures as well as offer a more convenient post-procedure experience to patients.
- Apr-2021: Alma introduced Alma PrimeXTM, a non-invasive platform for the body contouring and skin tightening. With this launch, the company aimed to provide a unique experience for patients as well as practitioners by meeting their requirements.
» Geographical Expansions:
- May-2021: Cynosure expanded its geographical footprint in London by launching a new Cynosure Experience Centre. Through this expansion, the company aimed to assist providers in offering the best-in-class patient outcomes.
» Approvals and Trials:
- Feb-2022: Allergan Aesthetics received the FDA approval for Juvederm Volbella XC, a solution for the enhancement of infraorbital hollows in adults aged above 21. With this approval, the company aimed to continue the expansion of its treatment offerings to more effectively address patients' demands.
- Jul-2021: Alma received the US FDA approval for Alma Hybrid, the first laser platform. The new product would offer a comprehensive solution to leverage every best-in-class laser independently or customize the treatment pattern by combining both wavelengths.
Scope of the Study
Market Segments Covered in the Report:
By Procedure Type
- Botox Injections
- Laser Hair Removal
- Soft Tissue Fillers
- Chemical Peel
- Breast Augmentation
- Nose Reshaping
- Tummy Tuck
- Eyelid Surgery
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Evolus, Inc.
- Revance Therapeutics, Inc.
- Cynosure, LLC
- Alma Lasers Ltd.
- Candela Medical Corporation
- Bausch Health Companies, Inc.
- Lumenis Ltd.
- Galderma S.A.
- AbbVie, Inc.
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What would be the size of the cosmetic surgery and procedure market by 2027?
The cosmetic surgery and procedure market size is projected to reach USD 107.2 billion by 2027.
What are the key driving factors and challenges in the cosmetic surgery and procedure market?
Massive attention in modeling and a professional life in aviation are driving the market in coming years, however, strict regulations and inadequate reimbursement limited the growth of the market.
Who are the leading players in the cosmetic surgery and procedure market?
Evolus, Inc., Revance Therapeutics, Inc., Cynosure, LLC, Alma Lasers Ltd., Candela Medical Corporation, Bausch Health Companies, Inc., Lumenis Ltd., Galderma S.A., and AbbVie, Inc.
At what CAGR is the cosmetic surgery and procedure market estimate to grow in the forecast period?
The expected CAGR of the cosmetic surgery and procedure market is 9.8% from 2021 to 2027.
Which region dominated the cosmetic surgery and procedure market in 2020?
The North America is the fastest growing in the Global Cosmetic Surgery And Procedure Market by Region in 2020, and would continue to be a dominant market till 2027.