Global Cosmetic Surgery Market Outlook, 2029

Global Cosmetic Surgery Market Outlook, 2029

Like the butterfly that emerges from its chrysalis, the cosmetic surgery market is a journey of transformation that only the brave and the daredevils would try to perfect and come naturally with beauty. Cosmetic surgery refers to medical procedures aimed at improving or changing a patient's appearance; it includes surgical and nonsurgical interferences whose primary goals are aesthetical and not medical. Some of these include breast augmentation, liposuction, rhinoplasty, that is, reshaping the nose and different types of non-invasive treatments, for example, Botox and dermal fillers. Innovations in the cosmetic surgery market continue to transform the landscape spurred by technological advancements that improve the safety and efficacy of procedures. For example, 3D imaging and simulation technologies enable highly detailed preoperative planning, and the patient gets to have a view of what the eventual result might look like. The International Society of Aesthetic Plastic Surgery (ISAPS) revealed the results of its annual global survey on aesthetic cosmetic treatments, which stated that the global plastic surgery treatments increased by 19.3% in 2021 and there were over 12.8 million surgical and 17.5 million non-surgical procedures done worldwide. Newer products in the market technologically advanced, like non-invasive body contouring systems with the use of fat-freezing technology, shall set potential lucrative growth opportunities. This aesthetic interest in the market has recently grown amid a plethora of advanced aesthetic equipment developed by manufacturers. In 2022, the FDA cleared the launch for AviClear, the first and only laser for the treatment of acne. Clinical research has demonstrated that AviClear resulted in reduction of acne by 60% in just three, 30-minute sessions. Technologically developed equipment like non-invasive body contouring systems, using fat-freezing technology, will most likely create conducive growth opportunities for the market in the forthcoming decade. According to the Aesthetic Society of the U.S, in 2020, the non-invasive body fat reduction took its place amongst the top 5 non-invasive procedures in the country with 140,314 performed.

According to the research report, “Global Cosmetic Surgery Market Outlook 2029” published by Bonafide Research, the market is anticipated to cross USD 120 Billion by 2029, increasing from USD 75.92 Billion in 2023. The market is expected to grow with a 8.60% CAGR from 2024 to 2029.There is an increase in the awareness and acceptance level of cosmetic procedures with a change in the view of society, where the public is adopting aesthetic enhancements as a tool to enhance self-confidence among individuals. Technological advances have been very much front and center, making procedures safer and more effective, particularly with the advent of minimally invasive techniques that can be done with significantly shorter recovery times. Increased disposable incomes also meant more people could get cosmetic treatments, and social media has created new ideas around beauty ideals, driving up demand. The market has strict regulatory requirements, possibilities for complications, and economic oscillations that have a direct impact on consumer's spending. In the published data from the British Skin Foundation, about 60% of people in the UK were suffering from a sort of skin condition in the year 2020. The cosmetic surgery sector is starting to emphasis sustainability with regard to the growing global awareness towards environmental issues. It introduces the practice of handling surgical waste through the use of reusable surgical instruments and eco-friendly packaging materials. There is also an increased demand in sustainable products like biodegradable fillers and organic skincare options. For instance, according to a WHO report which was released in March 2023, it is estimated that at any given time 1.8 billion people have some kind of skin condition. For instance, in August 2022, Airsculpt Technologies unveiled a cell fat remover that has received FDA approval. AirSculpt Smooth helps in clearing the body of embarrassing cellulite dimples. It doesn't require scalpels, needles, or stitches. The patient is kept awake during the surgery, and the patient is back to normal activity in 24 to 48 hours.

Market Drivers

• Technological Innovations in Surgical Techniques: Advances in surgical techniques and technologies, such as laser surgery, endoscopic procedures, and minimally invasive methods, are significantly driving the growth of the cosmetic surgery market. These innovations improve precision, reduce recovery times, and minimize scarring, making cosmetic procedures more appealing to potential patients. For instance, the development of techniques like the ""no drain"" liposuction has improved patient comfort and satisfaction. As surgical methods continue to evolve, they enhance the overall patient experience, encouraging more individuals to consider cosmetic enhancements.
• Aging Population and Demand for Anti-Aging Solutions: The increasing aging population globally is driving the demand for cosmetic surgeries aimed at rejuvenating appearance. Older adults are more willing to invest in procedures that address signs of aging, such as facelifts, eyelid surgeries, and skin resurfacing treatments. This demographic shift, combined with the desire to maintain a youthful appearance, has led to a surge in the number of individuals seeking cosmetic enhancements. The aging population also has greater disposable income, allowing them to invest in these elective procedures more readily.

Market Challenges

• Social Stigma and Cultural Barriers: Despite the growing acceptance of cosmetic surgery, there are still cultural barriers and social stigmas associated with undergoing such procedures in many societies. In some regions, seeking cosmetic enhancements may be viewed negatively, leading to feelings of shame or judgment among individuals who wish to pursue these options. This stigma can deter potential patients from considering cosmetic surgery, limiting market growth. Overcoming these cultural barriers requires ongoing education and awareness campaigns that promote the idea that cosmetic procedures can be a valid form of self-improvement and self-expression.
• Post-Surgery Complications and Legal Liabilities: The risk of post-surgery complications remains a significant challenge for the cosmetic surgery market. Patients may face unexpected outcomes, such as infections, dissatisfaction with results, or complications requiring additional surgeries. Such risks can lead to increased legal liabilities for practitioners, as patients may pursue legal action if their expectations are not met or if they experience adverse effects. This potential for litigation creates a cautious environment for surgeons, prompting them to navigate patient expectations carefully and adhere to strict safety protocols to minimize risks.

Market Trends

• Sustainability and Eco-Friendly Practices: There is a growing trend toward sustainability in the cosmetic surgery market as patients become more conscious of environmental impacts. Practices that prioritize eco-friendly products, sustainable materials for implants, and waste reduction are gaining popularity. Clinics are increasingly adopting green practices, such as using biodegradable surgical supplies and minimizing energy consumption. This shift reflects a broader societal trend towards sustainability, and clinics that emphasize their commitment to environmentally responsible practices may attract a more conscientious patient base.
• Customized Patient Experiences through Data Analytics: The use of data analytics to provide personalized patient experiences is becoming an essential trend in the cosmetic surgery market. Clinics are leveraging data collected from previous patients, including demographics, preferences, and outcomes, to tailor their offerings and improve patient satisfaction. Personalized consultations, where surgeons can present customized treatment plans based on historical data, enhance the overall patient experience. This trend not only improves patient trust and satisfaction but also increases the likelihood of referrals and repeat business.

The principle growth driver of the cosmetic surgery market is a trend toward more such invasive procedures, primarily due to the advancement of technology, which continually enhances safety, effectiveness, and recovery times.
The landscape of cosmetic surgery has undergone significant change over the last few years, not least due to technical innovation at the heart of those changes. What is possible today are procedures that originally carried a high degree of risk and took more extensive times to recover, which are now possible with improved techniques and instrumentation and, critically, much better safety profile and shorter downtime. For instance, the development of minimally invasive surgical techniques and highly advanced methods of anesthesia has made surgeries like liposuction and breast augmentation more attractive to a higher number of people. The patients are increasingly drawn towards the procedures for aesthetic effects but also due to functional benefits such as relief from discomfort or improvement in quality of life. The social networking platform has attracted much attention toward body and face aesthetics, further entrenching a sense of self-translation in cosmetics to meet the beauty standards of the society. This further emphasizes a much greater acceptance culture for cosmetic procedures as compared to previous generations. For instance, with several financing options available, cosmetic surgery has become more affordable to more people, thus increasing the likelihood of using these cosmetic procedures for overall self-enhancement. Due to these factors, there now arises an increase in demand for surgical and nonsurgical treatments as patients now develop more and more the regard for care about self-esteem and body image.

The most widely performed cosmetic surgery procedure is breast augmentation as it can greatly improve a woman's appearance and consequently, her self-esteem.

Breast augmentation also known as augmentation mammaplasty, this procedure involves the insertion of either breast implants or fat transfer to enhance the size, shape, and projection of the breasts. It is one of the most popular procedures of plastic surgery in the United States; with over 300,000 procedures performed in 2017.The reasons why women prefer going for breast augmentation range from improving their natural breast size, replacing the lost volume that follows after pregnancy or some weight loss, correcting the asymmetry, or improving a woman's overall body proportions. It can significantly change a woman's self-esteem and level of confidence, making her feel quite at ease and happy with her new look. Breast augmentation is a relatively uncomplicated surgery with little downtime and scarring. The procedure is usually done on an outpatient basis with general anesthesia, and most women can return to their routine within a few days. Moreover, modern breast implants are made of durable materials that could last for years and give long-term results. Implants come in wide varieties in terms of sizes, shapes, and profiles, so surgeons have the capability to customize the procedure according to every patient's unique anatomy and desired outcome. Hence, patients could opt for different sizes and shapes of implants, including implants with either silicone or saline fillings.

The dominance enjoyed by Botox injections in the cosmetic surgery market can be attributed mainly to the growing demand for minimally invasive procedures that provide immediate results with a minimal quantity of time off and less risk than traditional surgical options.

The surge in popularity of Botox, purportedly attuned to the current desires of consumers for aesthetic improvements. Botox treatments are quick and require no significant recovery time that would mean people could go on with their daily life immediately after treatment. It appeals to modern society, where most people seek to get away with whatever they do in the shortest time possible and then go about their busy lives. Furthermore, the non-invasive nature of Botox renders patients to experience lesser pain and fewer complications than surgical alternatives, therefore reducing much anxiety associated with cosmetic procedures. Over time, improvements in injection techniques and formulations have contributed to increasing the safety and efficacy of Botox injections. With growing acceptance among diverse demographics of aesthetic treatments-the increasing number of men seeking cosmetic enhancements-more people are in this market for Botox. The increased place given to youthful appearances by the beauty standards through the rise of media and celebrity endorsement further spurred this trend as they keep exposing individuals to that expectation. After all, Botox is competitively priced compared to many procedures considered more invasive. This makes the treatment accessible to a much broader market, which explains the wide spread applications.

Women lead the cosmetic surgery market as they are more susceptible to undergoing cosmetic procedures as a result of body dissatisfaction, low self-esteem, and influence from the media.

Women are very easily at risk for cosmetic surgery in order to enhance self-esteem or become comfortable with the body appearance. These women, because of pregnancy, childbirth, and possibly aging, realize that there has been a lot of wear on their body so they opt for procedures to regain certain youthful contours or lift sagging areas. A woman who had an experience related to breast cancer may also undergo reconstructive surgical intervention of breasts in order to feel fairly normal after such a traumatic experience of the diagnosis. According to various studies, it has been understood that there is always an inverse relationship between body satisfaction and the use of cosmetic procedures among women. Women who rate themselves lower on the attractiveness scale are generally more likely to undergo cosmetic surgery. Societal acceptance and cultural standards also motivate women toward cosmetic enhancements. There is influence of the media on body image, as well as enforcing unattainable beauty standards on women, which is a challenge to each woman's needs for cosmetic surgery. Women who see advertisements for cosmetic surgery and who experience exposure to idealized beauty imagery in the media become more likely to support cosmetic surgery for themselves, a position taken when she increased her exposure to aestheticized body images. At the same time, the availability, accessibility, and development of cosmetic surgery in Western society raise the acceptability and desirability of undergoing these procedures for women. Minimally invasive techniques that expose less risk and downtime further help appeal cosmetic surgery to women.

The 30-54 age group has led the cosmetic surgery market chiefly because this group has a special demand for correcting aesthetic imperfections associated with aging and improving the comfort of self-confidence maintenance.

At some point in transitioning into 30 and 40 years of age, the transitions can almost see visual indications of wrinkles, sagging skin, and their shapes take on different outlooks. In this respect, most individuals falling within the transition period are considerably motivated to seek cosmetic procedures meant to rejuvenate their youthful appearance by reviving their self-esteem. The 40-54 age group has made the most significant percentage contribution to all cosmetic surgeries performed in the United States; hence, industry reports hold this specific age group to have a very high degree influence on trends within the market. The three most popular procedures among this age range include breast augmentation, liposuction, and eyelid surgery, blepharoplasty, which both serve aesthetic desires and a need for functional improvement. More importantly, the age group also appeals to an increased popularity of non-surgical treatments, namely Botox and dermal fillers, which provide the potential for rejuvenation without lengthy down time recovery. Societal factors are as important in this phenomenon. The rising numbers of problems associated with personal appearance in the work place and social environment have been a reason why most people in this age group opt for aesthetic techniques in order to remain competitive and self-confident. Social media, too, has dramatically heightened awareness and acceptance of aesthetic procedures, thereby increasing their convenience and acceptability. In addition, technology has progressed several levels to become safer and more effective, thus becoming an easier path for more people to contemplate as a process of self-improvement.

North America leads the pack in the global cosmetic surgery market because of the high cultural importance accorded to personal appearance and aesthetic augmentation, driven by high disposable incomes and superior medical infrastructure.

North America, more so the United States has traditionally been at the forefront of the beauty and aesthetics industry, with an important population looking to enhance their physical appearance through surgical and nonsurgical procedures. This underpins the leadership of the region in cosmetic surgery. What the regional leaders present as pivotal drivers are that societal acceptance and demand for cosmetic procedures have been high. This comes out and rolls well with media, celebrities, and social platforms which have stimulated cosmetic surgery normalization and, therefore made it more accessible to and preferred by a wider audience. This new culture has led to a surge in the demand for surgical treatments including breast augmentations, liposuction, rhinoplasty, and facial rejuvenation treatments. The disposable income of the North American population is high and, therefore, allows individuals to spend on purely elective cosmetic procedures. The economics in this region are stable and affluent, thus enabling clients to choose which of their aesthetic goals are most important and afford, sometimes, the very prohibitive costs associated with cosmetic surgery. This said, money makes the market, providing a constant supply of clients for cosmetic surgery practices. North America, with its state-of-the-art medical infrastructure and well-qualified specialists, also includes clinics and hospitals possessing the latest technology and board-certified plastic surgeons. This kind of a healthcare environment attracts patients not only from this region but also other parts of the world in search of some of the best cosmetic procedures. The leading market share of North America remains due to unceasing innovations and improvements of new techniques and technologies on cosmetic surgery. However, tight regulatory systems and professional associations, such as the American Society of Plastic Surgeons (ASPS), create a more rigorous practice environment and ensure that patients are safe. Such bodies ensure guidelines, certification, and continuing education for professionals in the cosmetic surgery field in maintaining quality and credibility in the industry.

• August 2023 - TELA Bio, Inc. launched the U.S. market for its OviTex PRS Long-Term Resorbable product, which can be utilized in plastic and reconstructive sugeries.
• March 2023 - Establishment Labs Holdings Inc. announced it signed agreements with four partners in Europe and a second chain of partners in Japan to bring Mia Femtech to market for enhancing breast shape via a 15-minute procedure.
• June 2022 - Cynosure came up with the PicoSure Pro Device, an advanced platinum-plated lens focus array which was to reduce wrinkles, acne scars, and pores by increasing the content of collagen and elastin.
• May 2022 - Apyx Medical said that it had received the 510(k) clearance from the U.S. FDA for the usage of its Renuvion Dermal Handpiece in specific dermal resurfacing procedures.
• February 2021- GALDERMA received the U.S. FDA approval for Restylane Defyne for the augmentation and correction of mild to moderate chin retrusion.
• February 2021- Merz Pharma announced the launch of BELOTERO BALANCE + Lidocaine in the U.S. The BELOTERO BALANCE is a Hyaluronic Acid (HA) filler for etched-in lines & advantages of lidocaine formulation claims to provide a perfect finish to filler patients.

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Cosmetic Surgery market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Procedure Type
• Invasive Procedures (Breast augmentation, Liposuction, Nose reshaping, Eyelid Surgery, Tummy tuck and Others)
• Non-invasive Procedures (Botox injections, Soft tissue fillers, Chemical peel, Laser hair removal, Microdermabrasion and Others)

By Gender
• Female
• Male

By Age Group
• 30-54
• 13-29
• 55 and above

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Cosmetic Surgery industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.

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