Worldwide demand for cosmetic surgeries and procedures is set to increase at an impressive CAGR of 9.8% from 2022 to 2030. Currently, the global cosmetic surgery and procedure market is valued at US$ 69.2 billion and is estimated to reach US$ 146.5 billion by the end of 2030.
Changing societal beauty and aesthetic standards will be one of the key drivers for the market over the coming years. Increasing focus on physical appearance, rising influence of celebrities, growing fitness consciousness, and increasing availability of several cosmetic procedures are some of the other factors that will drive demand for cosmetic surgeries and procedures.
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Top companies in the market are focusing on product innovation to enhance their global market presence and drive revenue generation capacity.
- Prayasta, a Bengaluru-based start-up focused on developing soft tissues, is leveraging 3D printing technology to create personalized breast implants and prostheses for mastectomy surviving patients. The company aims to help mastectomy survivors by providing them with personalized soft tissue breast implants.
Key Takeaways from Market Study
- At present, the global cosmetic surgery and procedure market is valued at US$ 69.2 billion.
- By the end of 2030, the market is estimated to rake in revenue worth US$ 146.5 billion.
- Demand for cosmetic surgeries and procedures is slated to increase at a stellar 9.8% CAGR over the next eight years.
- Increasing disposable income, rising aesthetic awareness, growing aging population, increasing availability of non-invasive cosmetic procedures, and high prevalence of skin disorders are key market drivers.
- The North American cosmetic surgery and procedure market accounts for around 35% of the global market share in 2022.
- Improper reimbursement and the high costs of certain cosmetic procedures are anticipated to hinder market growth to some extent.
- Non-invasive cosmetic procedures accounted for a dominant market share of around 54% in 2021.
- The market in China is expected to be valued at US$ 27 billion by 2030-end, expanding at an astronomical CAGR of 15% over the same time period.
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“Asia Pacific is anticipated to witness the fastest growth in demand for cosmetic surgeries and procedures owing to increasing aesthetic awareness in economies such as China, India, Japan, and South Korea,” says a Fact.MR analyst
Key Companies Profiled
- Alma Laser
- Solta Medical
- Evolus Inc.
- Syneron Candela
Companies in the cosmetic surgery and procedure marketplace are expected to invest in the expansion of their business scope in emerging economies such as India and China. They are also expected to invest in the research and development of innovative aesthetic products and adopt various marketing strategies to maximize their sales potential on a global level.
This new cosmetic surgery and procedure market research analysis by Fact.MR, a market research and competitive intelligence provider, offers a detailed insight into all strategies adopted by major and minor market players operating in the industry.
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