Cosmetic Surgery Products Market

Cosmetic Surgery Products Market Outlook (2023 to 2033)

The global cosmetic surgery products market is projected to reach a value of US$ 19.09 billion in 2023. Over the forecast period from 2023 to 2033, it is anticipated to demonstrate a CAGR of 8.1%, resulting in a total accumulation of US$ 41.64 billion by 2033.

The growth of the industry can be attributed to increasing awareness about cosmetic procedures among the young population and the availability of technologically advanced products to carry out various surgical procedures.

The advent of technologically developed equipment, like non-invasive body contouring systems, which employ fat-freezing technology, is likely to offer conducive growth opportunities to the market in the forthcoming decade. As per the Aesthetic Society of the U.S, in 2020, non-invasive body fat reduction was listed in the top 5 non-invasive procedures in the country with 140,314 procedures performed.

Similarly, the American Society of Plastic Surgeons reveals, that in 2020, 13.2 million cosmetic minimally invasive procedures, 2.3 million cosmetic surgical procedures, and 6.8 million reconstructive procedures were performed in the United States, which was a surge of 3% against the 2019 procedures.

The rising expenses on cosmetics and the willingness to adopt novel cosmetic treatments are likely to drive the demand for cosmetic surgery and procedures in the coming time. Also, the approval of new products by authorities is likely to expand the market size in the coming time. In February 2021, FDA approved RESTYLANE DEFYNE for the correction of double chin reduction for adults over 21 years.

What are the Factors Driving the Global Cosmetic Surgery Products Market?

Growing Fitness Consciousness among Millennial to Expand the Market

The market has been expanding past few years due to the increasing fitness desire among millennial. The technological advancement in devices and the rising demand for minimally invasive procedures are anticipated to boost the market significantly during the forecast period. According to the American Society of Plastic Surgeons, in 2020, 13,281,235 cosmetic minimally-invasive procedures were performed in the United States.

Moreover, the introduction of new products in the industry is anticipated to act as a significant propeller to the market expansion. For instance, Revance launched RHA (resilient hyaluronic acid) collection of fillers. Such factors, along with the growing awareness about cosmetic surgery are likely to boost the cosmetic surgery requirements in the forthcoming period.

Increasing cosmetic surgery demands have resulted in increased FDA approvals, which is likely to benefit the industry in the coming time. For instance, In June 2020, Allergan Aesthetics received the FDA approval of JUVÉDERM® VOLUMA™ XC for the enhancement of the chin region in adults over 21 years. Further, in 2019, the FDA approved Jeuveau, which is close to Botox. It is available at a lower cost as compared to Botox.

What are the Prevailing Opportunities in the Global Cosmetic Surgery Products Market?

Increasing Demand for Non-Invasive Procedures to Offer Remunerative Opportunities to the Market

Growing demand for non-invasive procedures owing to various benefits offered such as less pain, instant results, and low cost will benefit the industry during the assessment period. Some of the popular non-invasive procedures include soft tissue fillers, Botox injections, and chemical peels. The availability of medical spas and specialty clinics providing these procedures is constantly rising. This factor has boosted the number of people opting for non-surgical procedures to enhance their physical appearance.

As per the American Society for Aesthetic Plastic Surgery (ASAPS), nose reshaping, eyelid surgery, and facelift were among the most performed surgical procedures in the USA in 2020.

Sabyasachi Ghosh

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What are the Factors Hampering the Global Cosmetic Surgery Products Market?

Presence of Unregulated Market to Hamper the Market Growth

Various countries have experienced a rise in the number of illegal vendors providing cosmetic procedures and attracting a number of customers to undergo cosmetic procedures.

They’re un-registered medical practitioners and surgeons, which significantly impede the market in the assessment period. This has resulted in adverse effects of cosmetic surgery which have been linked with the presence of a regulated market which will hamper the market growth in the assessment period.

Segmentation Analysis

Face Takes the Lead in Cosmetic Surgery Product Demand

Cosmetic surgery products for the face dominate the cosmetic surgery market by the application due to several key factors. The face holds significant importance as the most visible part of the body, influencing first impressions and self-confidence. The rising concern about signs of aging, such as wrinkles and sagging skin, has fueled the demand for facial cosmetic procedures like facelifts, Botox, and dermal fillers. Additionally, the advent of social media and selfie culture has heightened self-awareness, leading to a surge in facial enhancements to present an aesthetically pleasing image online.

Non-invasive or minimally invasive facial treatments, with less downtime and fewer risks, have broadened the target audience seeking cosmetic enhancements. Celebrity endorsements and media coverage have also played a role in driving the popularity of facial procedures. While cultural influences and beauty standards vary, many cultures place a strong emphasis on facial features, further increasing the demand for facial cosmetic products.

Clinics Outperform Hospitals in Cosmetic Surgery Products

The clinics segment dominates the market. Cosmetic surgery clinics specialize exclusively in aesthetic procedures, ensuring a focused and personalized experience for patients. Their medical professionals are often highly experienced in cosmetic surgery, instilling confidence in potential customers. Moreover, the streamlined operations of clinics lead to shorter wait times and more efficient scheduling, adding to patient convenience. Over time, reputable clinics can build strong brand recognition, bolstered by positive reviews and word-of-mouth referrals. Privacy and discretion are also critical factors, with patients often preferring the relative seclusion offered by clinics.

Regional Analysis

How is Advent of Licensed Medical Spa Companies Developing the Cosmetic Surgery Products Market in North America?

North America is expected to dominate the global cosmetic surgery market share during the forecast period. In 2022, the region secured 35.8% of the global revenue. The domination of the region can be attributed to the emergence of various licensed medical spas in the region.

Various licensed key players offer developed cosmetic surgical products which is expected to fuel the market in North America during the forecast period. In April 2022, MedSpa Partners Inc. announced expansion into the United States by welcoming top facial plastic surgeon Dr. Steven Dayan and his Chicago, IL-based team to its top-tier medical aesthetics platform.

In another instance, in June 2022, Lakewood Ranch, Florida-based Vision Source announces the launch of an in-house medical spa offering facial and aesthetic services. The med spa specializes in skin rejuvenation and anti-aging aesthetic treatments. Attributed to such factors, the market in North America is expected to dominate the global market for cosmetic surgery products market during the forecast period.

The United States cosmetic surgery products market has witnessed substantial growth in recent years, driven by the increasing desire for physical enhancement, advancements in medical technology, and rising disposable incomes. There is a noticeable shift towards non-invasive or minimally invasive procedures. Treatments like Botox, dermal fillers, and laser-based therapies are gaining popularity due to their reduced downtime, lower risks, and effective results. The American Society of Plastic Surgeons (ASPS) reported that in 2020, there were 15.5 million cosmetic procedures conducted in the United States, with 13.2 million of them categorized as minimally invasive. Consumers are increasingly seeking personalized solutions tailored to their specific needs and preferences. Cosmetic surgeons and product manufacturers are offering customized treatments to meet these demands. Celebrity endorsements and social media influence have a significant impact on the market in the United States. Popular celebrities sharing their positive experiences with cosmetic procedures drive consumer interest and contribute to the market growth.

How is Facial Injectable Driving the Cosmetic Surgery Products Market in Europe?

In 2022, the European market for cosmetic surgery products market garnered 24.4% of the global revenue. The development of the region can be attributed to the increasing demand for facial injectables.

As per an article published in 2-21, plastic surgeons in the UKrevealed that the demand for injectable cosmetic procedures like botulinum toxin by the male population has increased by 70%.

Players in the market are taking various initiatives that is likely to benefit the regional industry growth in the coming time. For instance, in March 2022, Allergan Aesthetics, an AbbVie company announced the launch of HArmonyCa with lidocaine across Europe. It is a dual-effect hybrid injectable with two active ingredients, calcium hydroxyapatite, and hyaluronic acid. Such factors are expected to augment the regional market during the forecast period.

The United Kingdom cosmetic surgery products market has witnessed steady growth over the years, driven by rising disposable incomes, changing beauty standards, advancements in medical technology, and an aging population. There is a growing awareness and preference for natural and organic cosmetic surgery products in the United Kingdom. Consumers are seeking products with fewer chemicals and more sustainable ingredients, reflecting the overall trend towards eco-friendly and cruelty-free options. The country attracts a significant number of medical tourists seeking cosmetic procedures. The country's reputation for high-quality healthcare services and skilled practitioners makes it an appealing destination for international patients.

The Germany cosmetic surgery products market has experienced significant growth in recent years, driven by increasing consumer awareness, changing beauty standards, and advancements in medical technology. Germany's reputation for high-quality healthcare facilities and skilled surgeons has made it a popular destination for cosmetic procedures, further boosting the market. Consumers are showing a preference for natural and organic cosmetic surgery products. Manufacturers are incorporating organic ingredients and eco-friendly packaging to meet this demand. Consumers here generally prefer subtle, natural-looking results from cosmetic procedures. The less-is-more approach is gaining popularity, with patients seeking treatments that enhance their natural beauty rather than radically altering their appearance.

How is Increasing Dermal Fillers Expanding the Cosmetic Surgery Products Market in the Asia Pacific?

As per the analysis, the Asia Pacific market for cosmetic surgery products is expected to be the most lucrative market during the forecast period. Increasing demand for anti-aging procedures is expected to benefit the regional market in the coming period. Ongoing development in the dermal fillers acts as an opportunity for the region.

Moreover, players in the region are taking various initiatives to strengthen their position in the market. For instance, In September 2020, Croma Pharma GmBH announced a new Joint Venture partnership in China with China National Biotech Group Company Ltd. (“CNBG”). The initiative is projected to surge the presence of the company in the Asia-Pacific region and contribute to the revenue of the company in the forecast period.

The China cosmetic surgery products market has experienced rapid development, becoming one of the world's leading markets for aesthetic procedures. The rising popularity of cosmetic surgery is attributed to factors such as urbanization, globalization, and the influence of social media, which have led to the adoption of Western beauty ideals. China has emerged as a popular destination for medical tourism, attracting patients from neighboring Asian countries seeking cosmetic surgery. The availability of high-quality medical facilities and relatively affordable treatment costs have contributed to this trend. The popularity of Korean and Japanese beauty trends has profoundly impacted consumers' preferences for specific aesthetic features in China. As a result, procedures like double eyelid surgery and rhinoplasty have become increasingly common. The rise of e-commerce and social media platforms has facilitated easy access to cosmetic surgery products, as well as the sharing of before-and-after results and patient experiences. This has contributed to increased consumer awareness and acceptance.

India has witnessed a shift in societal attitudes towards beauty and aesthetics, leading to an upsurge in demand for cosmetic surgery products. Rapid urbanization and exposure to global beauty standards have fueled the desire for physical enhancements. The booming beauty and skincare industry has indirectly contributed to the growth of the cosmetic surgery products market. The increasing emphasis on skincare has influenced consumers to seek long-term solutions for their aesthetic concerns. India's booming entertainment industry, including film, television, and social media, heavily influences beauty standards and drives the desire for cosmetic enhancements among celebrities and the general public alike. Social media platforms, especially Instagram and YouTube, are full of beauty content showcasing various cosmetic procedures and transformations.

Japan cosmetic surgery products market is characterized by a growing consumer base seeking non-invasive and minimally invasive procedures. Consumers are more inclined toward treatments that require little to no downtime and have minimal side effects. A desire for quick results and convenience drives this trend. Consumers tend to favor natural-looking results that enhance their features without appearing overdone. Japan's beauty ideals are deeply rooted in its culture, emphasizing clear and youthful skin, symmetrical features, and a delicate appearance. These preferences heavily influence the types of procedures and products that are popular in the market. Japan also has a rapidly aging population, leading to an increased demand for anti-aging procedures and products.

How are Startups Contributing to the Development of the Global Cosmetic Surgery Products Market?

MirrorMe3D (USA), Medical Augmented Intelligence (MAI), Numex (Switzerland), 3D Life (Greece), Sensus3D (Argentina), Glamyo (India), Veleza (UK), Blusho (UK), Sisu (USA), among others, are some of the emerging names in the market. Startups are obtaining funding, which will augment the market size in the assessment period.

• For instance, in September 2021, Glamyo Health, an Indian startup raised US$ 3 Million in Series A funding. The round was led by Ananta Capital with participation from Agility ventures; Udtara Ventures; We Founder Circle; Dexter Angels; Tej Kapoor - Managing Partner at Fosun; Vivek Gupta and Abhay Hanjura, Founders of Licious; Dhruv Kapoor, Partner at Sistema; Aditya Singh, Principal at Stride VC; Ayush Jain, Leading South India for AWS; and others.

Competition Analysis

Key players in the global cosmetic surgery products include Mentor Corporation, Allergan, Candela Corp, Lumenis Ltd., Cutera Inc, Palomar Medical, Iridex Corp, DermaMed Pharmaceutical Inc, Solta Medical, Medtronic plc, Syneron Medical Ltd., Johnson & Johnson Services, Inc. Cynosure Inc., and several others.

Key Updates from the Industry

• Apyx® Medical Corporation introduced the Apyx One Console, its latest-generation Renuvion generator, to the United States in January 2023. This state-of-the-art console boasts a multi-functional design, integrating an advanced 3-in-1 energy system that empowers plastic and cosmetic surgeons to utilize Renuvion technology alongside full monopolar and bipolar energy options.
• ZimVie made an announcement in November 2022 about the launch of their TSX implant in the United States. This implant represents the latest advancement in their range of surgical, restorative, and digital dentistry solutions. The TSX implants are specifically designed for immediate extraction and loading procedures, offering enhanced predictability and stability when placed in both soft and dense bone.
• Health Canada granted regulatory approval to Sientra's breast implants in March 2022. The company plans to offer these breast implants in Canada by collaborating with its local partner, Kai Aesthetic. Under the distribution agreement, Sientra is committed to maintaining the utmost product quality, safety, and service standards, ensuring the well-being of patients and plastic surgeons alike.
• In March 2021, Iridex Corporation a provider of innovative ophthalmic laser-based medical products for the treatment of glaucoma and retinal diseases, announced today that it has entered into a strategic collaboration with Topcon Corporation. Topcon is a Japanese-based manufacturer and distributor with approximately US$ 1.3 Billion in annual revenues, including US$ 430 Million from its eye care business.
• In May 2020, AbbVie, announced that it has completed its acquisition of Allergan plc following receipt of regulatory approval from all government authorities required by the transaction agreement and approval by the Irish High Court.

Key Segments Profiled in the Global Cosmetic Surgery Products Market

By Product Type:

• Cosmetic Surgery Implants
• Breast Implants
• Chin & Cheek Implants
• Injectables
• Botulinum Toxin
• Soft Tissue Fillers
• Dermal Fillers
• Absorbable Fillers
• Non-Absorbable Fillers
• Cosmetic Surgery Lasers
• Ablative Laser
• Non-Ablative Laser
• Microdermabrators
• Liposuction Equipment
• Cosmetic Surgery Services

By Application:

• Face
• Upper Body
• Breasts
• Hands
• Stomach
• Lower Body

By End User:

• Hospitals
• Ambulatory Surgical Centers
• Clinics
• Universities and Research Centers
• Homecare Settings

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa