Cosmetic Surgery Market Size Worth USD 61.20 Billion by 2030 at 9.1% CAGR – Report by Market Research Future (MRFR)

New York, USA, March 23, 2023 (GLOBE NEWSWIRE) — Cosmetic Surgery Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Cosmetic Surgery Market Information By Gender, By Age Group, By Procedure, By End-User, and By Region—Forecast Till 2030”, the market size was valued USD 45.5 billion in 2021 and is expected to reach USD 61.20 billion by 2030 at 9.1% CAGR during the forecast period 2022-2030

Market Scope

Growing fitness consciousness to look young has expanded the demand for aesthetic treatments in emerging countries. Aesthetic procedures, such as nose reshaping, liposuction, and Botox injections, are earning consumer interest in countries such as South Korea and India. Cosmetic surgery, such as non-surgical procedures including Botulinum toxin and other injectables, has been in the public eye for some time. The accessibility of medical spas and specialty clinics providing these procedures has been abundant and is constantly growing.

Cosmetic surgery is a voluntary treatment used to improve a patient’s physical appearance by reshaping their physique and body contouring. A unique discipline of surgical and non-surgical techniques are used in cosmetic procedures to enhance a person’s appearance. There are many various types of cosmetic procedures, including liposuction, facelifts, eyelid surgeries, breast augmentation, and rhinoplasty (nose reshaping) (blepharoplasty). However, there are also gender-specific cosmetic operations. For example, hymenoplasty, labia majora augmentation, vaginoplasty, labiaplasty, and G-spot amplification are all included in the list of procedures for female genital cosmetic surgery. Male breast reduction is another example (gynecomastia surgery).

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Market Drivers

The market study on cosmetic surgery covers the expanding medical tourism trend, increased use of cosmetic operations, particularly in developing nations, and rising rates of skin conditions that offer profitable potential for the use of many laser surgical treatments. In addition, medical innovations are expanding, and new technical advancements have altered the outlook of the sector, leading to a rise in the use of cutting-edge treatments for illnesses. This has expedited how people perceive various aesthetic operations, which has fueled the rise of the cosmetic surgery sector.

In this social media-dominated digital age, the population’s growing attention on and self-awareness regarding aesthetic appearance has played a crucial role in the rise in the number of patients getting aesthetic surgery operations.

Market Limitations

Some nations have observed an increase in the number of unlicensed practitioners offering cosmetic operations and luring a sizable section of the populace eager to undergo aesthetic procedures. These institutions, including unlicensed doctors and surgeons, have a negative effect on the market. Due to patients adopting inferior materials and implants, cosmetic operations going wrong are becoming more common. Throughout the projection period, it is projected that rising instances of undesirable outcomes from aesthetic surgery associated to an uncontrolled market will restrain the market’s expansion.

COVID-19 Analysis

The market size for advanced cosmetic surgery has been considerably influenced by the COVID-19 epidemic. A sudden dramatic decline in consumer income levels and social estrangement both had a detrimental impact on the market. Due to factors such a decline in product demand, constrained operations, swift closures of beauty salons, and disruptions in the manufacturing and supply chain, the industry had noticed a phase of short-term negative growth. The time spent on zoom calls has, however, decreased as a result of remote employment. Individuals give close attention to how they look. The demand for cosmetic surgery has increased as a result, with Botox being one of the most popular operations. In recent years, interest in invasive operations has decreased while that of non-invasive approaches has increased.

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Cosmetic Surgery Market Segmentation:

Gender Insights

Due to growing female attention to personal aesthetic appearance and rising per capita spending in emerging economies, which has led to an increase in the number of females undergoing cosmetic treatments, the female category maintained a significant proportion in 2021. Nonetheless, the male is the category that is expanding at the highest rate since more men are having surgical treatments like liposuction, rhinoplasty, gynecomastia, eyelid surgery, and cosmetic jaw surgery.

Age Group Insights

Due to an increase in liposuction demand and an increase in the number of cosmetic treatments among people in the 30 to 54 age range, the 30 to 54 category had a significant share in 2021. Yet, due to a rise in the demand for, the 13 to 29 year age group is expanding at the highest rate.

Procedure Insights

Due to a growth in breast augmentation treatments and authorization for cosmetic surgery involving breast implants, the breast augmentation category had a significant share in 2021. The fastest-growing category, however, is liposuction, as the need for procedures to keep one’s appearance youthful has grown in developing nations.

End-User Insights

Due to the rise in cosmetic surgeries and the number of hospitals & clinics offering different surgical procedures, the hospital & clinic segment held a significant portion of the market in 2021. However, the segment with the quickest rate of growth is ambulatory surgical facilities. This is because there are more and more accredited ambulatory surgical facilities in developing nations, which is what propels the growth of the cosmetic surgery market.

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