Cosmetic surgery is a process that enhances or alters a portion of an individual’s body, or, face through incision. Cosmetic surgeries include reconstruction or reshaping of body parts, altering facial structure (maxillofacial), altering structure of jaw (craniofacial), etc. People from urban areas constitute the largest patient base for cosmetic surgeries due to increased aesthetic appeal.
In developed countries such as United States, cosmetic surgeries procedures such as liposuction, reshaping, implants, lifts, tucks, injections, resurfacing, and laser treatments are gaining increased popularity. Major products used in these procedures include injectables, silicone or polymer implants, energy based equipment such as lasers, ultrasound and radiofrequency devices. Some of the other devices used in cosmetic surgery include anti-cellulite treatment devices that help in toning the body parts and microdermabrasion devices are used to treat fine lines, wrinkles, age spots, light scarring, and discoloration of the skin, blemishes, acne and sun damage, among other conditions.
Cosmetic Surgery Products Market: Drivers and Restraints
Major drivers for the market include rising disposable income levels in developed countries coupled with increasing social awareness, glossy advertisements creating customer-pull effects within entertainment industry, rise of medical tourism in emerging countries such as Brazil and UAE, early adoption of invasive and minimally invasive surgical procedures for remaining youthful, and increase in number of traumatic injuries requiring reconstructive changes.
Major restraints for the market include high costs of treatments including physician’s fees, slower adoption in satellite cities in emerging countries and very little or no availability of reimbursement options in developed countries.
Cosmetic Surgery Products Market: Segmentation
Global cosmetic surgery Products market is segmented into following types:
By Product Type: Implants: Breast Implants, Chin & Cheek Implants;
Injectable: Botulinum Toxin, Soft Tissue Fillers, Dermal Fillers: Absorbable fillers, Non-absorbable fillers;
Lasers: Ablative Laser, Non-Ablative Laser;
Microdermabrators, Liposuction Equipment, Services
By application in body parts: Face, Upper Body: Breasts, Hands, Stomach;Lower Body
By End Users: Hospitals, Ambulatory Surgical Centers, Clinics, Universities and research centers, Homecare Settings
By Region: North America., Latin America, Western Europe, Eastern Europe, APEJ, Japan, MEA
Cosmetic Surgery Products Market: Overview
The global market for cosmetic surgery is expected to register a healthy CAGR during the forecast period. Early onset of ageing, expanding geriatric age groups opting for cosmetic surgeries, increasing accidents demanding reconstructive changes and enhanced purchase power in developing countries are some of the factors expected to create increased adoption for cosmetic surgery is expected to have a healthy growth rate in the forecast period (2016-2026).
Cosmetic Surgery Products Market: Region-wise Outlook
The market for cosmetic surgical devices is relatively smaller when compared to cosmetic surgery services. Early onset of ageing, rising number of trauma cases and accidents, relentless quest to remain youthful and defy ageing, rising purchasing power and greater awareness towards advanced procedures are a few factors creating the icing of the cosmetic surgery industry. Deeper analysis into cosmetic surgery trends and product development is expected to create solutions for untapped needs of the broader market. In terms of countries, undoubtedly U.S. is the market leader in terms of number of surgical procedures conducted per year followed by Europe. However, rising awareness and easier availability of services at attractive rates is expected to huge potential in the emerging countries of Asia Pacific, Latin America and Eastern Europe.
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Cosmetic Surgery Products Market: Key Players
Some of the key players in global cosmetic surgery market are Allergan, Mentor Corporation, Candela Corp, Cutera Inc, Lumenis Ltd., Palomar Medical, Iridex Corp, Solta Medical, DermaMed Pharmaceutical Inc, Medtronic plc, Johnson & Johnson Services, Inc. Syneron Medical Ltd., Cynosure Inc. and several others.