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Rhytidectomy Market Size Worth $5.36 Billion By 2030

Rhytidectomy Market Worth $5.36 Billion By 2030 | CAGR: 9.3%

March 2023 | Report Format: Electronic (PDF)

Rhytidectomy Market Growth & Trends

The global rhytidectomy market size is expected to reach USD 5.36 billion by 2030 to expand at a CAGR of 9.3% from 2023 to 2030, based on a new report by Grand View Research, Inc. The growing adoption of rhytidectomy procedures in the aging adult population coupled with technological advancements are fueling industry growth. The demand for rhytidectomy procedures is increasing significantly in the adult population due to skin laxity, lipoatrophy, and facial aging.

Technological advancements such as the use of radiofrequency and ultrasound energy has increased the efficiency of these procedures. According to a study published by NCBI, radiofrequency produces noticeable clinical outcomes and is a promising procedure for photo aging with less downtime and fewer adverse effects. COVID-19 had a drastic impact on the rhytidectomy market due to the imposed restrictions on elective surgeries, economic uncertainty, and increasing shift towards well-being and health from cosmetic procedures. However, in the post-pandemic era the market witnessed steady growth in 2021, owing to a significant decrease in restrictions.

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Rhytidectomy Market Report Highlights

Based on the type, the full facelift segment held the majority of the revenue share at over 75% in 2022 due to rising adoption of full facelifts in among the female population. On the other hand, mini facelift segment is expected to witness the fastest CAGR of 9.9% over the forecast period owing to the rising popularity as they target specific facial concerns.
Based on age group, the 55 - 69 years age group segment dominated the market in terms of revenue share of over 60% in 2022 owing to facial aging being more common among this population.
Based on gender, the female segment dominated the market in terms of the revenue share of around 85% in 2022 owing to increasing awareness among the female population, growth in number of women in workforce, and increasing per capita income, thereby increasing the adoption of cosmetic procedures.
Based on end-use, the hospital segment dominated the market in terms of the revenue share of over 40% in 2022 and is expected to grow at the fastest CAGR during the forecast period owing to hospitals being preferable by the patients for cosmetic treatments.
In 2022, North America dominated the market with a revenue share of over 35% owing to the presence of technological advanced infrastructure in the region. Asia Pacific is anticipated to grow at the fastest CAGR of 10.2% during the forecast period attributed to the presence of skilled healthcare professionals and availability of cost-efficient surgical procedures.