Escalating Aging Population Augments the Global Cosmetic Surgery and Procedure Market Growth
According to a new market research report published by Inkwood Research, the Global Cosmetic Surgery and Procedure Market is estimated to record a CAGR of 5.62% during the forecasting years of 2020-2028.
‘’Browse 50 Market Data Tables and 50 Figures spread over 232 Pages, along with an in-depth TOC on the Global Cosmetic Surgery and Procedure Market Forecast 2020-2028.’’
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Cosmetic surgery and procedures include surgical and non-surgical procedures for the reshaping or enhancement of various body parts or structures to improve appearance and self-confidence. The cosmetic surgery includes breast augmentation, facial & skin rejuvenation, and body & facial contouring. Other vital surgical procedures include liposuction, eyelid surgery, breast enhancement, tummy tuck, and breast lift. The critical non-surgical procedures include laser hair removal, botulinum toxin, photo rejuvenation, dermal fillers, and microdermabrasion.
Breast augmentation emerged as the leading surgical procedure, whereas botulinum toxin was found to be the largest non-surgical cosmetic procedure. A new trend is related to the use of augmented reality (AR) in plastic surgery. Additionally, cosmetic surgery is no longer considered a taboo, and the society is gradually accepting cosmetic procedures for aesthetic correction in developing countries like India, and the trend is likely to continue in the coming years.
Aging Population - Prime Driver of the Global Cosmetic Surgery and Procedures Market
Some cultures embrace aging gracefully, but aging has become undesirable with modern culture in many countries across the world. Modern lifestyle, together with technological advancements, has made visual age defiance possible. The anti-aging trend is a representation of the promotion of youth and beauty by image-oriented media. Hence, there is a high demand for cosmetic surgery among television and film personalities and lifestyle magazine models. The surging aging population globally has led to an increased demand for anti-aging cosmetic and aesthetic treatments.
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Breast Lift – The Fastest Growing Category in the Surgical Segment
The breast lift procedure helps lift sagging or lose breasts and is also called Mastopexy. Breasts become saggy or droopy due to various factors such as age, breastfeeding, weight loss, etc. Increasing obesity, technological innovations, and commercialization of multiple implants have been driving the breast lift market. However, the breast lift procedure does not significantly change the size of the breasts. It helps in making the breasts rounder, better, and fuller. Thus, breast augmentation or reduction procedures are preferred to alter the size of the breasts. However, strict regulations and minimal or no insurance coverage may limit the growth of the market.
Asia Pacific Evaluated to Record the Highest CAGR
The rapid growth in the cosmetic surgery and procedure market in the Asia Pacific region is due to the presence of a large aging population, an increase in purchasing power of the middle class, and a rise in awareness and interest in these procedures. The market is highly diverse, owing to varying regulatory factors, due to which there are differences in the availability of products in different countries. Further, cultural differences impact the acceptance of certain procedures by patients, influencing the demand for the same. Exposure to western culture, internet, and media has augmented specified beauty standards boosting the market growth in the region.
The cosmetic surgery and procedure market encompasses various major companies operating in the region such as Allergan PLC, Johnson & Johnson, Merz Pharma, Ipsen S.A., Bausch Health Companies Inc, etc. The competition is high in the market as the competitors try to increase their market share through competitive pricing and the introduction of new technology-based products.
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