Plastic Surgery Instruments Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Plastic Surgery Instruments Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The plastic surgery instruments market is expected to grow at a CAGR of 8.7% over the forecast period.

The healthcare system witnessed enormous challenges as a result of the COVID-19 pandemic. All elective and aesthetic procedures were postponed or restricted during the COVID-19 pandemic to ​reduce the risk of viral transmission as most of these procedures were regarded as non-urgent. There was a decrease in the number of aesthetic procedures performed around the world during the COVID-19 pandemic. According to the International Society of Aesthetic Plastic Surgery 2021 report, in the year 2020, over 24,529,875 cosmetic procedures were performed, while 24,982,304 cosmetic procedures were performed in the previous year. The reduction in the number of procedures performed was mainly attributed to the fear of the risk of infection and the allotment of medical resources towards COVID-19 management. Thus, the plastic surgery instruments market was significantly impacted during the COVID-19 pandemic.

The major factor attributing to the growth of the market is the increased awareness of cosmetic procedures. The demand for cosmetic procedures is rising worldwide as cosmetic surgery focuses on body improvement, and plastic surgery reconstructs damaged tissues caused due to burns or trauma. According to an article titled “Perception of Cosmetic Procedures among Middle Eastern Youth” published in the Journal of Clinical and Aesthetic Dermatology in December 2021, there has been an increasing acceptance of cosmetic procedures in the middle eastern region, with a growing interest in the skin and nasal procedures. The rising interest is expected to add to the growth of the plastic surgery instruments market over the forecast period.

The most common procedures performed on women are breast augmentation (silicone implants), liposuction, eyelid surgery, abdominoplasty, and breast lift. Furthermore, an increase in the number of road accidents, aging population, and healthcare spending in emerging economies are a few of the factors likely to boost plastic surgeries during the forecast period. According to the World Population Ageing 2020 Highlights, in 2020, there are an estimated 727 million persons aged 65 years or over worldwide. This number is projected to more than double by 2050, reaching over 1.5 billion persons. The geriatric population in the world is expected to increase from 9.3 per cent in 2020 to 16.0 per cent in 2050. There has been an increase in the age related aesthetic procedures facelifts, browlifts, eyelid rejuvenation, among others. Thus, the rising geriatric population is expected to boost the market growth over the forecast period.

However, the complications associated with the aesthetic procedures, such as hematoma, scarring, blood loss, nerve damage, infection, deep vein thrombosis, seroma and others may restrain the market growth in the forecast period.

Key Market TrendsHandheld Surgical Instruments is Expected to Hold Largest Share in the Market During the Forecast Period

Handheld surgical instruments can be classified into forceps, retractors, graspers, auxiliary instruments, cutter instruments, elevators, chisels & gouges, cannulas, dissectors, and sutures & staplers.

Rising awareness about various surgical procedures, increasing the number of plastic surgeries, and technological advancement are factors driving the growth of the market over the forecast period. According to the International Society of Aesthetic Plastic Surgery report 2021, around 10,129,528 surgical procedures were performed in the world, which is likely to add to the growth of the market segment. The large number of cosmetic surgeries being performed is expected to add to the growth of the handheld surgical instruments segment during the forecast period.

The recent product launches by the key market players are also aiding the market growth. For instance, in July 2021, Sutter Medical Technologies launched the single-use Swyng non-stick bipolar forceps, which offer precision and versatility to surgeons. Since the forceps are disposable, they are widely preferred in the plastic surgeries. Thus, the recent product launches add to the growth of the market segment.

Therefore, owing to the above-mentioned factors, the handheld surgical instruments segment is expected to grow significantly.

North America Dominates the Market and Expected to do Same in the Forecast Period

North America is expected to dominate the overall plastic surgery instruments market, throughout the forecast period. The market growth is due to factors such as the presence of key players, favorable reimbursement policies, and providing access to advanced devices for plastic surgery & training sessions for physicians.

In the North American region, the United States holds the largest market share due to factors such as the increasing number of plastic surgeries and increasing awareness programs by trained and skilled dermatology professionals, and maximum reimbursement coverage in the country. According to the International Society of Aesthetic Plastic Surgery 2021 report, the United States was the country with the most number of surgical aesthetic procedures performed in the world. As per the report, in the United States, over 1,485,116 surgical aesthetic procedures were performed in the year 2020, while in Mexico, over 456,489 surgical aesthetic procedures were performed. The large number of surgeries performed in the region is a major factor contributing to the growth of the plastic surgery instruments market over the forecast period.

Also, the key market players in the region are aiding the market growth. For instance, in September 2021, Olympus Corporation launched the Powerseal family of advanced bipolar surgical energy products, the Powerseal 5mm Curved Jaw Tissue Sealer and Divider, Double-Action device. The powerseal devices provide the surgeons a state-of-the-art sealing, dissection, and grasping capabilities. Owing to the product launches in the region, the studied market is expected to grow significantly.

Competitive Landscape

The plastic surgery instruments market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market are KLS Martin Group, Integra LifeSciences Corporation, Tekno-Medical Optik-Chirurgie GmbH, Zimmer Biomet, B. Braun Melsungen AG, BMT Medizintechnik GmbH, Anthony Products, Inc., Bolton Surgical Ltd., Surgicon Pvt. Ltd., and Blink Medical.

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