Pune, Oct. 01, 2020 (GLOBE NEWSWIRE) — Global cosmetic surgery market is likely to gain traction from the ever-increasing number of patients undergoing procedures, such as chin augmentation, breast reduction, and breast augmentation.
The American Society for Aesthetic Plastic Surgery (ASAPS) declared that in 2018, breast reduction (18%) and chin augmentation (20%) were two of the most popular surgical procedures in the U.S. This information is given by Fortune Business Insights™ in a recent report, titled, “Cosmetic Surgery Market Size, Share & Industry Analysis, By Type (Surgical Procedures, and Non-Surgical Procedures), By Gender (Males, and Females), By End User (Spas & Cosmetic Surgery Centers, and Hospitals & Specialty Clinics), and Regional Forecast, 2019-2026.”
The report further states that the cosmetic surgery market size was USD 50.67 billion in 2018 and is projected to reach USD 66.96 billion by 2026, exhibiting a CAGR of 3.6% during the forecast period.
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Key Players Aim to Launch New Products to Upsurge Sales
The market is highly fragmented with the presence of numerous organizations that are striving persistently to gain the maximum share. They are doing so by conducting research and development activities to unveil products with cutting-edge technologies. Below is one of the latest key industry developments:
- April 2018: Merz Pharma GmbH & Co. KGaA, a privately-held pharmaceutical company, based in Germany, launched its new product named Belotero® Lips to treat perioral lines and enhance lips.
What Does This Report Contain?
- Elaborate information about the factors that would accelerate the market growth in the coming years.
- Comprehensive data about all those factors that are set to pose as growth barriers.
- In-depth analysis of the cosmetic surgery market trends, challenges, and opportunities.
- A thorough analysis of the competitive landscape and profiles of all the vendors.
The whole world is fighting the novel coronavirus. Sectors and industries are devasted due to the major loss caused by COVID-19 in business. The authorities of several countries have initiated lockdown to prevent the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
To get to know more about the short-term and long-term impacts of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/cosmetic-surgery-market-102628
Rising Emphasis on Reduced Post-surgical Interventions to Propel Growth
The market consists of several prominent companies that are presently focusing on capitalizing their market share by delivering new instruments and products to the masses. Besides, the demand for unique products with reduced post-surgical interventions and adverse effects is aiding these companies in investing huge sums in research and development activities.
High Demand for Dermal Fillers Procedure to Accelerate Non-surgical Procedure Segment
In terms of procedure, the market is divided into non-surgical and surgical procedures. Amongst these, in 2018, the surgical procedures segment was in the leading position in the market. Although the number of surgical procedures is much lower than non-surgical procedures across the globe, expensive nature of the former is one of the main factors responsible for high share of the segment. Eyelid surgery, liposuction, and breast augmentation were the top surgical procedures that were performed the most in 2018.
The non-surgical procedures segment, on the other hand, is set to exhibit considerable growth owing to the rising number of patients undergoing dermal and injectable filler procedures around the world. Hyaluronic acid and botulinum toxin were two of the dominating fields in this segment in 2018. Development of new dermal fillers equipped with advanced features would aid growth of this segment.
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Expansion of Medical Tourism to Favor Growth in Asia Pacific & Latin America
Geographically, the market is segregated into Latin America, Europe, the Middle East and Africa, North America, and Asia Pacific. Out of these, in 2018, North America generated USD 15.43 billion in terms of cosmetic surgery market revenue. This growth is attributable to the increasing number of surgical procedures performed in the U.S.
The International Society of Aesthetic and Plastic Surgeons (ISAPS) stated that in 2018, approximately 4.3 million cosmetic procedures were performed in this country alone. It is combined with the rising per capita expenditure of the populaces in North America. Asia Pacific and Latin America are set to grow considerably in the forthcoming years fueled by the expansion of medical tourism in both these regions.
Fortune Business Insights™ lists out some of the most reputed companies present in the aesthetic surgery market. They are as follows:
- Westlake Dermatology
- Long Island Plastic Surgical Group, P.C.
- Merz Pharma
- Galderma Laboratories
- Cleveland Clinic
- Other key market players
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Cosmetic Surgery Market Segmentations:
• Surgical Procedures
• Non-surgical Procedures
• Spas & Cosmetic Surgery Centers
• Hospitals & Specialty Clinics
• North America (U.S. and Canada)
• Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
• Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia- Pacific)
• Latin America (Brazil, Mexico, and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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