Cosmetic Surgery and Services Market Leading Key Players: ALLERGEN, MENTOR WORLDWIDE, GALDERMA SA., VALEANT PHARMACEUTICALS INTERNATIONAL, MERZ PHARMA GMBH & CO. KGAA, SYNERON, ZETIQ TECHNOLOGIES

The cosmetic surgery and services market is expected to register a CAGR of 5.9% during the forecast period, 2018 to 2023. North America dominates the market, due to growing amount of awareness about cosmetic surgery and services.

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Growing Demand for Minimally Invasive and Aesthetic Procedures
The demand for cosmetic surgeries and minimally invasive procedures, such as botulinum toxin and facial filler injections, has increased dramatically over the past decade. In 2013, Americans spent over USD 12.3 billion on elective surgical and nonsurgical cosmetic procedures. Over half of the documented cases (nearly 5.9 million) were nonsurgical facial rejuvenation procedures, specifically soft tissue fillers and botulinum toxin. Use of these injectable has increased massively since 1997, and it is likely that this trend will continue during forecast period. This will lead to a huge growth in the market in the near future. Growing popularity of aesthetic treatment for facial enhancement is the key drivers of this market. An overwhelming majority of patients felt that skin care was critical to improving the appearance of aging in the face. Owing to these factors the cosmetic surgery and services market is expected grow rapidly in the future. Additionally, technological advancements in devices, and growing awareness regarding cosmetic surgery during forecast period.

Key Developments in the Market
January 2016: Ipsen and Galderma expanded current distribution agreement for dysport in aesthetic indications to some of the key Asia-Pacific Territories

Major Players:
ALLERGEN PLC., MENTOR WORLDWIDE LLC., GALDERMA SA., VALEANT PHARMACEUTICALS INTERNATIONAL, INC., MERZ PHARMA GMBH & CO. KGAA, SYNERON, ZETIQ TECHNOLOGIES LTD., CYNOSURE TECHNOLOGIES, BSOLTA/VALEANT AND ALMA/FOSUN PHARMA, amongst others.

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Stringent Regulatory Policies
In the expanding market for medical devices and therapies, there are stringent regulatory policies in place to ensure the safety of such drugs and devices. These policies are well studied. However, while rigorous regulatory procedures guarantee the quality of the product entering the market, they delay the entry of a drug or device into the market, which could be detrimental to all patients suffering from a disease. Pre-market approval is an FDA process of scientific and regulatory review to evaluate the safety and effectiveness of drugs and devices. There have been procedures by the FDA to heighten the post-market surveillance. The FDA review process takes twice as much time as European regulatory commissions review bodies. Hence, citizens from countries where the review process is shorter benefit more than countries with longer review processes and stringent regulations. The presence of stringent regulations is dampening the innovation in the market and hindering the growth of this market. Strict regulatory policies have resulted in a reduction of investment by drug companies in R&D of new products. Other factors include the side effects involved with the use these therapies, such as hair loss and weakness in the patients.

North America to Dominate the Market
North America dominates the Cosmetic Surgery and Services Market, owing to high incidence of cardiovascular diseases, technological advancement, and growing popularity of non-invasive radiation therapies in the region leading to growing adoption of ventricular assist devices. Asia Pacific is expected to grow during the forecast period, owing to factors, such as high prevalence of cardiovascular diseases, less stringent regulatory scenario, and presence of huge population base.

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