Cosmetic Procedures and Products Market Analysis, Demand, Share, Upcoming Advancements

Cosmetic procedures include elective surgical as well as nonsurgical procedures performed to reshape normal structures of the body. These procedures and cosmetic products are carried out to improve appearance of an individual thereby boosting self-confidence and self-esteem. The global market for cosmetic procedures and products is expanding both in terms of value and number of procedures performed annually. Several industry experts quote that ageing population, growing acceptance of cosmetic surgery, and interest of people for aesthetic reasons are the prime factors responsible for the market growth.

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The global cosmetic procedures and products market is segmented into two major segments, namely, surgical procedures and nonsurgical procedures. Major surgical cosmetic procedures include breast augmentation, lipoplasty (liposuction), blepharoplasty (cosmetic eyelid surgery), abdominoplasty, (tummy tuck), breast lift, gynecomastia treatment, otoplasty (cosmetic ear surgery) and breast reduction. Breast augmentation and the lipoplasty (liposuction) have been the top two popular cosmetic surgical procedures. The FDA’s decision in 2006 to reintroduce silicone gel breast implants in the market has improved the number of breast augmentation procedures over the years. These procedures are comparatively costlier than the nonsurgical cosmetic procedures and therefore rely on the insurance coverage. Hence, the market was affected to some extent due to financial uncertainty during economic crisis of 2009. However, the resurging economy is expected to the market again and will help in growth of overall cosmetic procedures and products market.

Non surgical cosmetic procedures include cosmetic injectables, skin rejuvenation and other procedures such as laser hair removal, sclerotherapy, and laser treatment of leg veins. Globally, the injectable cosmetics constitute major share in the nonsurgical segment and include botulinum toxin type A (Botox and Dysport), calcium hydroxyapetite (Radiesse), collagen, hyaluronic acid (Hylaform, Juvederm, Perlane/Restylane) and poly-l-lactic acid (Sculptra). Skin rejuvenation procedures include chemical peel, dermabrasion, fraxel, intense pulsed light (IPL) laser treatment, and noninvasive tightening.

The Americas and Europe have always been the main market for these cosmetic procedures and products over the years. These two geographies are youth-focused and more emphasis is on aesthetic looks of an individual. Additionally, the technological advancements in the medicine and surgery field are enabling surgeries to be non-invasive and less painful which is driving the market to further level. The American Society for Aesthetic Plastic Surgery reported that in 2010 Americans spent approximately USD 10.7 billion on cosmetic procedures of which more than 60 percent was contributed by surgical procedures. However, it is imperative to mention here that number nonsurgical procedures carried out annually are far more than the surgical procedures, but are less in terms of value (money spent). Furthermore, the number of women who opt for cosmetic procedures, have always outnumbered the number of men who choose these procedures. However, the dynamics of the market are changing these days with more men adopting cosmetic treatments for reasons such as high degree of competition at workplace, and growing awareness about obesity. The cosmetic surgical procedures for men include gynecomastia treatments, breast reduction, male facelifts, male brow lifts, and male tummy tucks.

Some of the major companies in the global cosmetic procedures and products market are Allergan, Inc., DermaMed USA, Fascia Biosystems, LLC, Genzyme Corporation, ExcellaDerm Corporation, Medicis Pharmaceutical Corporation, Suneva Medical Inc., BioForm Medical, Inc., Johnson & Johnson, Cutera, Inc., Q-Med AB, Dermik Laboratories, Genesis Biosystems, Inc., IRIDEX Corporation, Lumenis Ltd., Candela Corporation, Anika Therapeutics, Inc., Mentor Corporation, Palomar Medical Technologies, Inc., Cynosure, Inc., Solta Medical, Inc., among others.

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