Originally Published on: technavio |Global Cosmetic Surgery and Procedure Devices Market by Type, Gender and Region - Forecast and Analysis 2023-2027
Global Cosmetic Surgery and Procedure Devices Market: Trends, Growth Drivers, and Challenges (2023-2027)
Introduction:
The Global Cosmetic Surgery and Procedure Devices Market is poised for remarkable growth, estimated to increase by USD 6,731.55 million between 2022 and 2027, at a CAGR of 9.74%. This report provides an extensive overview of the market, covering segmentation by type (non-surgical procedures and surgical procedures), gender (female and male), and geography (North America, Europe, Asia, and Rest of the World). Additionally, it conducts a comprehensive analysis of the key drivers, trends, and challenges in this dynamic market.
Market Overview:
Cosmetic surgeries have seen a surge in popularity, particularly among individuals with medical conditions like obesity. This group seeks to address issues related to body fat, body shape, and more. Obesity's global prevalence has spurred demand for surgical procedures such as liposuction. Liposuction is a widely chosen procedure to achieve lasting weight loss, manage obesity-related complications, and attain a well-contoured physique. The growing adoption of cosmetic procedures among individuals with medical conditions contributes significantly to the expansion of the global cosmetic surgery and procedure devices market. Moreover, prominent companies like ALLERGAN, Bausch Health, Galderma Laboratories, and Hologic Inc. continue to launch enhanced and efficient cosmetic surgery products. These companies' efforts to instill confidence in people to undergo cosmetic treatments are expected to propel market growth.
Market Size Forecast:
The cosmetic surgery and procedure devices market is set to experience robust growth. For further insights, please refer to the sample report.
Key Drivers:
A major driving force in the cosmetic surgery and procedure devices market is the increasing popularity of minimally invasive and non-invasive procedures. These methods, compared to traditional open surgeries, inflict less damage to the body and utilize specialized instruments to create tiny openings. Minimally invasive techniques are widely adopted in procedures like breast augmentation and body contouring, while advanced laser technologies are applied in facial procedures. The majority of minimally invasive cosmetic procedures in the U.S. involve Botox injections, soft tissue fillers, chemical peels, laser hair removal, and microdermabrasion. Reduced pain, shorter hospital stays, and high long-term success rates make minimally invasive options highly appealing, fostering market growth. Leading vendors in this sector include Cutera, Galderma Laboratories, and Merz Pharma, providing innovative products like Bausch Health's VASERlipo and Galderma's Restylane to cater to the demand for minimally invasive procedures.
Key Trends:
The surging global demand for cosmetic procedures has led to a rise in the number of cosmetic surgeons and specialized cosmetic surgery hospitals. Minimally invasive cosmetic surgeries have overtaken traditional surgical procedures, with a 6.32% increase in the total number of cosmetic surgeries in the U.S. in 2017. This growth can be attributed to improved educational and training courses in cosmetic surgery offered by academic institutions such as the Australasian College of Cosmetic Surgery, alongside specialized courses on cosmetic implants offered by institutions like the California and New York Implant Institutes. Distinguished universities like Stanford, Johns Hopkins, Harvard, and Yale now offer cosmetic surgery programs, resulting in more graduates entering the field and becoming cosmetic surgeons. Furthermore, hospitals worldwide are increasingly specializing in cosmetic surgery, contributing to the global cosmetic surgery and procedure devices market's growth.
Key Challenges:
Cosmetic implant surgery presents potential complications and risks that may lead to undesirable outcomes. These risks encompass concerns related to anesthesia, bleeding, infection, scarring, nerve damage, implant migration, and unsatisfactory cosmetic results. Breast reconstruction using implants can lead to complications like implant hardening, wrinkling, asymmetry, pain, infection, and rupture. Likewise, buttocks and chest implant surgeries may result in visible scarring. Early or late implant rejection may also occur, necessitating implant removal and impeding the global cosmetic surgery market's growth.
Customer Landscape:
The report includes an analysis of the market's customer landscape, covering aspects such as the life cycle of adoption, price sensitivity drivers, and key purchase criteria. It assists companies in tailoring their growth strategies to better align with customer preferences.
Conclusion:
The global cosmetic surgery and procedure devices market is on an upward trajectory, primarily driven by the growing demand for minimally invasive procedures and increased confidence in cosmetic treatments. However, it is essential to acknowledge and address the risks associated with cosmetic implant surgery to ensure the continued expansion of this market. Businesses operating in this sector should closely monitor market dynamics and trends to remain competitive in this evolving landscape.
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