Cosmetic Surgery Market to Reach Valuation of USD 54.2 Billion by 2028 – Increasing Trend in Social and Cultural Effects Drives the Market

Vantage Market Research

Jun 28, 2022

In terms of revenue, the Global Cosmetic Surgery Market is expected to reach USD 54.2 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 3.5% from 2022 to 2028.

The increasing trend in social and cultural effects in the Cosmetic Surgery Market and growing demand for non-surgical procedures are anticipated to augment the growth of the market during the forecast period.

Key Highlights from Report:

  • The Non-Invasive Procedures sub- segment dominated the market in 2021. This segment is anticipated to expand further at the fastest Compound Annual Growth Rate (CAGR), maintaining the dominant market position throughout the forecast period. Less pain, instant results, and low cost are some of the elements that have grown the demand for non-invasive procedures across the world. Popular non-invasive procedures include Botox injections, soft tissue fillers, and chemical peels.
  • The surgical and non-surgical procedures segment is projected to grow during the forecast period. This is attributable to the fact that the number of surgical procedures accomplished across the globe is significantly lower than the number of non-surgical procedures. The higher cost of these surgical procedures is due to the increase in long-term effects and is pivotal in the higher revenue share of the segment. Additionally, the number of non-surgical procedures is showcasing a market increase owing to the increasing number of patients through injectable and dermal filler procedures across the globe.
  • Asia Pacific is expected to grow at the fastest Compound Annual Growth Rate (CAGR) during the forecast period. This is attributable to the various benefits provided by these settings, such as insurance and financing. The market growth in this region is expected to increase by the increasing accessibility of Cosmetic Surgery and extensive information. Additionally, substantial advancements in related technologies, such as an increase in silicone and polymer implants, are also expected to propel the regional market growth during the forecast period.

Market Dynamics:

The increasing trend in social and cultural effects in Cosmetic Surgery is anticipated to augment the growth of the Cosmetic Surgery Market in the years to come. Cosmetic Surgery has attracted a crowd of consumers. The main factors were responsible for this social and cultural impact, which include media, fashion, and film industry impacts; peer pressure for appearance and attractiveness; altering dimensions of beauty, etc. The increase of the tourist industry and the establishment of tourism clusters such as Miami and Bangkok have grown not only exposure to cosmetic procedures but also gained a high demand.

Market entrants are working on Research and Development (R&D) to establish advanced products in response to an ever-increasing demand for advanced products with fewer side effects and post-surgical interventions. The growing demand for innovative products from healthcare practitioners and patients, in addition to a growing focus on decreasing or eliminating the negative effects of implants and other cosmetic products, has resulted in the introduction of sophisticated products to the market. The Cosmetic Surgery Market is boosted by this, in addition to an increasing emphasis on aesthetics and growing awareness of available procedures during the forecast period.

North America held the largest shares in 2021. The US held the largest share in North America for the Cosmetic Surgery Market. This is attributable to the advanced healthcare infrastructure, the adoption of cosmetic procedures, an increasing prevalence of skin disorders, and the presence of board-certified and skilled cosmetic surgeons in the region. The region is endorsed by countries, such as the United States and Canada assessing the hub of Cosmetic Surgery, which contributes to market growth. The accessibility of technologically advanced products and an increasing focus on physical aspects are anticipated to drive the market over the forecast period.