Cosmetic Surgery And Procedure Market Size, Share & Trends Analysis Report By Type (Invasive, Non-invasive), Region (North America, Asia Pacific, Middle East & Africa, Latin America, Europe), And Segment Forecasts, 2022 - 2030

Report Overview

The global cosmetic surgery and procedure market size was valued at USD 63.4 billion in 2021 and is projected to exhibit a compound annual growth rate (CAGR) of 9.6% from 2022 to 2030. Manufacturers coming up with innovative aesthetic devices has led to an increased demand for aesthetic treatments in recent years. For instance, the introduction of technologically advanced products, such as non-invasive body contouring systems, which use fat freezing technology, is expected to create lucrative growth opportunities. According to the Aesthetic Society (U.S.), non-invasive body fat reduction was among the top 5 non-invasive procedures in the U.S. in 2020 with 140,314 procedures performed.

The COVID-19 pandemic had significantly affected the aesthetics medicine market. Initially, social distancing and a sudden sharp cut in consumers' income level had negatively impacted the aesthetics medicine market. The market had witnessed a phase of short-term negative growth owing to factors, such as a decline in product demand, limited operations, temporary closures of beauty centers, and disruption in the manufacturing & supply chain. However, remote working has increased the time spent on Zoom calls. People are paying attention to their physical appearance closely. This has increased the demand for cosmetic surgeries, with Botox being one of the most preferred procedures. Interest in non-invasive procedures has increased during the past few months while interest in invasive procedures has declined.

Thus, the market has witnessed a spike during the past few months and it is expected to be in high demand throughout the forecasted period. Growing fitness consciousness to look young has increased the demand for aesthetic treatments in developing countries. Aesthetic procedures, such as liposuction, nose reshaping, and Botox injections, are gaining consumer interest in countries, such as India and South Korea. According to the International Society of Aesthetic Plastic Surgery (ISAPS), India was ranked among the top 5 countries performing non-surgical procedures at a global level. This highlights the high growth prospects that lie ahead for aesthetic manufacturers in the country.

Procedure Type Insights

On the basis of procedure types, the market has been further segmented into invasive procedures and non-invasive procedures. The non-invasive procedures segment dominated the market in 2021 with a revenue share of more than 54.0%. The segment is projected to expand further at the fastest CAGR retaining the dominant market position throughout the forecast period. Less pain, instant results, and low cost are some of the factors that have increased the demand for non-invasive procedures at a global level. Popular non-invasive procedures include Botox injections, soft tissue fillers, and chemical peels.

In June 2020, Allergan Aesthetics, a subsidiary of AbbVie Inc. (U.S.), received the FDA approval of JUVÉDERM® VOLUMA™ XC for the augmentation of the chin region in adults over the age of 21 years. Apart from this, in 2019, the FDA approved Jeuveau, which is similar to Botox, however, available at a lower cost compared to Botox. The product is found to be effective in reducing wrinkles. Invasive procedures, such as liposuction, breast augmentation, nose reshaping, are some of the popular aesthetic procedures. Growing focus on physical appearance has increased the demand for invasive procedures.

Regional Insights

On the basis of geographies, the global market has been divided into North America, Asia Pacific, Latin America, Europe, Middle East & Africa. In 2021, North America accounted for the largest share of more than 35.0% of the global revenue. Advanced healthcare infrastructure, adoption of cosmetic procedures, increasing prevalence of skin disorders, and the presence of board-certified and skilled cosmetic surgeons in the region are some of the major factors contributing to the market growth. According to the American Society of Plastic Surgeons (ASPS), the growth in rates of cosmetic surgery procedures from the year 2000 to 2018 was compared.

It was observed that breast augmentation procedures increased by 48%, while the use of Botox injections increased by 845%. Thus, North America is expected to be a key revenue generator for cosmetic surgery and procedure manufacturers in the coming years. Asia Pacific, on the other hand, is projected to grow at the fastest CAGR during the forecast period. The region is backed by countries, such as China, India, and South Korea. South Korea is considered the hub of cosmetic surgeries, which supports the market growth. Availability of technologically advanced products, growing focus on physical appearance are projected to drive the regional market.

Key Companies & Market Share Insights

The global market is highly fragmented with many local players competing with international players. However, a strict regulatory approval process is challenging the entry of new products into the market. Primary parameters affecting the competitive nature are the rapid adoption of advanced devices for improved treatment and technological advancement. Leading players have adopted mergers & acquisitions as one of the key strategies to gain maximum market share. Some of the key players in the global cosmetic surgery and procedure market include:

• AbbVie

• Cynosure

• Evolus Inc.

• RevanceGalderma

• Lumenis

• Solta Medical

• Syneron Candela

• Alma Laser

Cosmetic Surgery And Procedure Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global cosmetic surgery and procedure market report on the basis of procedure type, gender, age group and region:

• Procedure Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Invasive

    • Breast Augmentation

    • Liposuction

    • Nose Reshaping

    • Eyelid Surgery

    • Tummy Tuck

    • Others

  • Non-invasive

    • Botox Injections

    • Soft Tissue Fillers

    • Chemical Peel

    • Laser Hair Removal

    • Microdermabrasion

    • Others

• Gender Outlook (USD Million, 2018 - 2030)

  • Male

  • Female

• Age Group Outlook (USD Million, 2018 - 2030)

  • 13-29

  • 30-54

  • 55 and above

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • India

    • Japan

    • China

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE