The new report by Expert Market Research titled, ‘Global Cosmetic Procedure Market Share, Report and Forecast 2023-2028’, gives a careful analysis of the global cosmetic procedure market. It assesses the market based on segments like type, end user, and major regions like North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.
The report tracks the latest trends in the market and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Cosmetic Procedure Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 34.5 billion
• Forecast CAGR (2023-2028): 5.95%
• Forecast Market Size (2028): USD 49.3 billion
Depending on the type of cosmetic procedure, the surgical segment is anticipated to rise gradually during the forecast period. The popularity of cosmetic procedures for facial augmentation and the expanding role of the media in society are two factors influencing the rise in demand for cosmetic procedures. These procedures are also performed to boost and preserve the self-esteem of consumers.
The demand for cosmetic procedures is expected to increase as the need to enhance one’s physical appearance grows. In the upcoming years, the business growth for cosmetic procedures is also anticipated to be aided by technological advancements and expanding research initiatives to advance minimally invasive procedures for cosmetic procedures.
Cosmetic Procedure Industry Definition and Major Segments
Any bodily part can undergo cosmetic procedures to change a person’s appearance. These treatments call for specialists who are well-versed in treatment processes and aware of all the risks and potential side effects, as well as the dosages of anaesthesia needed. It is advised to carry out these operations cautiously after speaking with a doctor, plastic surgeon, or professional. These cosmetic operations include, eyelid surgery, dermal fillers, breast augmentation, and many others.
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Based on the type of cosmetic procedure, the market is divided into:
- Breast Augmentation
- Tummy-tuck (Abdominoplasty)
- Eyelid Surgery (Blepharoplasty)
- Breast Lift
- Non- Surgical
- Botulinum Toxin
- Dermal Fillers
- Laser Hair Removal
- Chemical Peels
The regional markets for cosmetic procedure include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Cosmetic Procedure Market Trends
The growing desire to enhance one’s physical appearance and maintain health by getting rid of extra body fat is driving the demand for cosmetic procedures. The market for cosmetic procedures has been greatly stimulated by social media. As a result, more individuals are becoming exposed to these cosmetic procedures.
The market is increasing because of celebrities increasingly promoting these procedures.
The increasing pace of advancements is anticipated to boost market expansion through innovations like laser therapy and rhino sculptures, among others. Ongoing study and research initiatives are expected to make these cosmetic procedures safer and quicker, which will boost the market in the forecast period.
The highest number of cosmetic procedures performed worldwide is in the United States. The most popular techniques include, liposuction, botulinum toxin, and breast augmentation, among others. The country’s market growth can be ascribed to both the quick development of technology and the rise in consumer spending on cosmetic procedures. According to the American Society of Plastic Surgeons’ Annual Statistics, the cosmetic procedures market was valued at close to USD 16.7 billion in 2020.
Key Market Players
The major players in the market are :
- Allergan plc
- Merz Pharma GmbH and Co. KGaA
- Cutera Inc
- Cynosure LLC
- Ipsen Subsidiaries Inc
- Sientra Inc
- Alma Lasers Ltd
The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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