COSMETIC SURGERY MARKET ANALYSIS

Cosmetic Surgery MarketSize and Trends

Global Cosmetic Surgery Market – Dynamics

The emerging prevalence of obesity in population, which then leads to increased number of liposuction cases, is expected to propel the global cosmetic surgery market growth over the forecast period. For instance, according to the Centers for Disease Control and Prevention (CDC), the adult obesity rate in 2019 was 42.4%, which was probably the first time when the national obesity rate surpassed the 40% mark, thus demonstrating obesity crisis in the U.S.

Increasing number of cosmetic and plastic surgeries is also expected to drive the global cosmetic surgery market growth over the forecast period. For instance, according to the American Society of Plastic Surgeons (ASPS), nearly 18 million people in the U.S. underwent surgical and minimally invasive cosmetic procedures in 2018. These factors are expected to support the global cosmetic surgery market growth over the forecast period. Moreover, according to The British Association of Aesthetic Plastic Surgeons (BAAPS) report, in 2018, over 28,000 cosmetic procedures were performed, a 0.1 percent increase over 2017 in the UK.

Global Cosmetic Surgery Market – Regional Insights

North America is estimated to account for the largest share in global cosmetic surgery market in the forecast period, owing to the latest launches in surgery systems for fat reduction surgeries. For instance, on January 26, 2021, Allergan Aesthetics, a subsidiary of AbbVie Inc., announced the launch of CoolSculpting Elite, which is its next-generation fat-reduction system with applicators that complements the body's natural curves. CoolSculpting Elite uses a technology that targets, freezes, and removes the treated fat cells. CoolSculpting Elite has also been cleared by the U.S. Food and Drug Administration in October 2018, to treat visible fat bulges in nine areas of the body, including the thigh, abdomen, flank, breast, back fat, underneath the buttocks, upper arm, and the submental, and submandibular areas.

Furthermore, due to the recent launches of body and face contouring surgery platforms, Asia Pacific region may witness a lucrative growth in the global cosmetic surgery market over the forecast period. For instance, on November 14, 2018, Alma Lasers Ltd., one of the top five global leaders in energy-based medical and aesthetic solutions, announced the launch of RESHAPE, a new body and face contouring platform for beauty experts, at the Cosmoprof Asia tradeshow in Hong Kong. RESHAPE is a novel hybrid platform that combines ultrasound and radio frequency to provide a synergistic solution for fat reduction, skin tightening, and anti-aging treatments on the face. These factors are expected to support global cosmetic surgery market growth over the forecast period.