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Cosmetic Surgery Market 2024-2033: Production Analysis, Growth Strategy, Industry Insights And Major Players
Cosmetic Surgery Market Trend
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According to The Business Research Company's, The cosmetic surgery market size has grown rapidly in recent years. It will grow from $48.05 billion in 2023 to $53 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to change in beauty standards, celebrity influence, increased affordability, social media influence, psychological well-being, media and advertising.
The cosmetic surgery market size is expected to see strong growth in the next few years. It will grow to $73.22 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to rise in non-invasive procedures, cultural acceptance, global aging population, accessibility of information, regulatory approvals and standards, male aesthetic procedures. Major trends in the forecast period include integration of technology, non-invasive procedures, minimally invasive techniques, personalized and customizable procedures, 3D imaging and simulation, integration of regenerative medicine.
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Market Drivers and Trends:
The rising number of cosmetic surgery hospitals is driving the growth of the cosmetic surgery market. Cosmetic surgery is done to improve a person's appearance by repairing the damaged areas of skin, and removal of wrinkles or blemishes. The growing social and cultural influences such as media, fashion, and film industry, peer pressure for appearance and attractiveness, and shifting dimensions of beauty have raised the number of cosmetic surgery hospitals all over the world. For instance, in 2021, a study, from the American Society of Plastic Surgeons, found that Botox injections became the most popular non-invasive cosmetic procedure in 2020, with 4.4 million procedures performed in 2020. The increasing number of cosmetic surgeries has raised the number of hospitals, free-standing ambulatory surgical facilities, and office premises to conduct cosmetic surgery procedures.
Product innovation is the key trend gaining popularity in the cosmetic surgery market. Major companies in the industry are focusing on developing new products to expand their market coverage. For instance, in February 2022, Merz Aesthetics, a US-based pharmaceutical company, introduced a new injectable implant called Radiesse (+) Lidocaine. Radiesse (+) is a gel-based injectable dermal filler made of calcium hydroxylapatite (CaHa). It is designed to add volume and definition to the lower facial contours while also tightening and lifting jowls and buccula and smoothing and correcting moderate-to-severe facial wrinkles and folds. This is the first and only aesthetic injectable that can improve moderate to severe loss of jawline contour.
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Major Key Players of the Market:
Johnson & Johnson, Astellas Pharma Inc., Novartis AG, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, Medtronic plc, Polytech Health & Aesthetics GmbH, AbbVie Inc., Daiichi Sankyo Co. Ltd., Mylan N.V., Bausch Health Companies Inc., Eisai R&D Inc., Kyowa Hakko Kirin Co. Ltd., Ferring Pharmaceuticals plc, Endo Pharmaceuticals plc, Galderma SA, Lumenis Ltd., Solta Medical Inc., Evolus Inc., Revance Therapeutics Inc., Syneron Candela Corporation, Alma Lasers Ltd., Sinclair Pharma plc, HansBiomed Co. Ltd., Teoxane Laboratories, Cynosure Inc., Merz Pharma GmbH & Co. KGaA, Vital Esthetique Inc., GC Aesthetics LLC, Ono Pharmaceutical Co. Ltd., Otsuka Pharmaceutical Co. Ltd., Shionogi & Co. Ltd.
Cosmetic Surgery Market 2024 Key Insights:
• The cosmetic surgery market size is expected to see strong growth in the next few years. It will grow to $73.22 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%.
• Surge In Cosmetic Surgery Hospitals Fuels Expansion Of The Cosmetic Surgery Market
• Revolutionary Injectable Implant Redefining The Cosmetic Surgery Market Through Innovative Product Design
• North America was the largest region in the cosmetic surgery market in 2023 and is expected to be the fastest-growing region in the forecast period
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