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Cosmetic Procedures and Products Market to Perceive Substantial Growth During 2024
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The global cosmetic procedures and products market is in growth mode both in terms of revenue and number of procedures carried out annually. The increasing acceptance for cosmetic procedures, exploding ageing population, and increasing spending on beauty and aesthetics are the major factors driving the growth of the global cosmetic procedures and products market.
The global cosmetic procedures and products market is segmented on the basis of surgical procedures and non-surgical procedures. Some of the major surgical cosmetic procedures are breast augmentation, cosmetic eyelid surgery, breast lift, cosmetic ear surgery, lipoplasty, Abdominoplasty, gynecomastia treatment, and breast reduction. Amongst these, lipoplasty and breast augmentation are the most popular cosmetic surgical procedures. With the reintroduction of silicone gel breast implants by FDA in 2006, the number of breast augmentation procedures have increased considerably over the years. However, these procedures are costlier as compared to non-surgical cosmetic procedures, hence are dependent on insurance coverage. The economic crisis of 2009 also affected the growth of the market to some extent. However, economic recovery is expected to boost the growth of the global cosmetic procedures and products market.
Major non-surgical cosmetic procedures include skin rejuvenation, cosmetic injectables, and other procedures such as sclerotherapy, laser hair removal, and laser therapy of leg veins. Amongst these, cosmetic injectables dominate the non-surgical segment of the market. The sub-segments of injectable cosmetics are botulinum toxin type A, collagen, poly-l-lactic acid, calcium hydroxyapatite, and hyaluronic acid. Skin rejuvenation procedures are divided into chemical peel, fraxel, noninvasive tightening, dermabrasion, and intense pulsed light laser treatment.
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The Americas and Europe are traditional regions for cosmetic procedures and cosmetic products. The society in these two regions is youth-focused and emphasizes on the aesthetics of an individual. Moreover, traditionally, these regions are pioneers of advanced technology, which is leading to the development of non-invasive and less painful procedures. These factors are further propelling the growth of these regional markets. As per The American Society for Aesthetic Plastic Surgery, Americans spent almost US$10.7 billion on cosmetic procedures in 2010, of which surgical procedures contributed more than 60%. However, the number of non-surgical procedures carried out outnumber surgical procedures, but account for less revenue contribution to the market.
Furthermore, the number of women who undertake cosmetic procedures always outnumber men for cosmetic procedures. However, the market dynamics are changing with more men opting for cosmetic procedures due to peer pressure at workplaces for appearance and rising awareness about obesity. Some of the cosmetic procedures for men include gynecomastia treatments, male facelifts, breast reduction, male brow lifts, and male tummy tucks.
Some of the leading companies that operate in the global cosmetic procedures and products market are Allergan Inc., Fascia Biosystems LLC, ExcellaDerm Corporation, Suneva Medical Inc., Johnson & Johnson, Q-Med AB, Genesis Biosystems Inc., Lumenis Ltd., Anika Therapeutics Inc., Palomar Medical Technologies Inc., Solta Medical Inc., DermaMed USA, Genzyme Corporation, Medicis Pharmaceutical Corporation, BioForm Medical Inc., Cutera Inc., Dermik Laboratories, IRIDEX Corporation, Candela Corporation, Mentor Corporation, and Cynosure Inc. among others.
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