Plastic Surgery Market Size Size, Competitive Landscape and Market Forecast - 2029

SKU: DMOT443 | Last Updated On: Jan 10 2023 | Available Formats

>Plastic Surgery Market Expected to reach a high CAGR 4.53% By 2029:

Plastic Surgery Market is segmented By Surgery Type (Reconstructive Surgery (Craniofacial Surgery, Hand Surgery, Microsurgery, Burn Surgery, Others), Cosmetic/Aesthetic Surgery (Breast Enhancement, Facial Contouring, Facial Rejuvenation, Body Contouring, Skin Rejuvenation, Others)), By Product Type (Injectable, Implants, Equipment, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029.

 

Plastic Surgery Market was valued at US$ 51,162.29 million in 2021 and is estimated to reach US$ 72,427.81 million by 2029, growing at a CAGR of 4.53% during the forecast period (2022-2029). 

Plastic Surgery Market

Metrics

Details

Market CAGR

4.53%

Segments Covered

By Surgical Procedure Type, By Gender, By Age Group, By End-User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Plastic surgery is a surgical specialty involving the restoration, reconstruction, or alteration of the human body. Plastic surgery can be divided into two categories: Reconstructive Surgery and Aesthetic/Cosmetic Surgery.

Market Dynamics

The increasing demand for these plastic surgeries under the influence of media, social media and the fashion industry, low procedural cost, the increasing number of available certified service providers, and growth in novel product launches are expected to drive market growth.

The increasing number of novel product launches and demand for plastic surgeries drive market growth.     

The global market for plastic surgery is primarily driven by the surge in demand for plastic surgeries for reshaping body parts; the rising number of novel product launches with minimally invasive surgeries will drive the growth of this market. Increasing technological advancements and the development of new advanced materials for plastic surgery have increased the safety margin for chemical operations, which is also driving the market. People are increasingly focusing on their physical appearance and body shape. Plastic surgery can beautify and reshape the body or a body part, increasing the patient's confidence and self-esteem. Because of this reason, people with different types of requirements are opting for plastic surgery. Various novel products are being launched for cosmetic surgery. For instance, in Jun 2022, Cynosure launched its PicoSure Pro device, the first 755 nm picosecond laser that received FDA clearance in the market as it provides energy in 1 trillionth of a second. This laser uses pressure rather than heat and provides effective and safe skin revitalization and pigmentation treatment.

Various latest technological advancements are taking place, and the number of plastic surgery procedure launches is increasing. For instance, in Apr 2021, Alma, an energy-based aesthetic and medical solution provider, launched its novel Alma PrimeX platform that accomplished unmatchable results in skin tightening and fat reduction in certain body parts, including the waist, buttocks, thighs and abdomen.

High risks and complications associated with plastic surgery will hamper the market’s growth.  

Plastic surgery's high risks and complications can significantly restrain the market’s growth. There have been severe complications reported in the past after undergoing plastic surgeries. Obese and older adults are more prone to these complications. Other factors constraining the market’s growth are stringent regulatory approvals, lack of skilled personnel to perform these surgeries, and lack of awareness.

COVID-19 Impact Analysis

The pandemic has negatively impacted global financial expectations, operations and crisis response strategy. Market participants are changing their long-term and short-term growth strategies by utilizing the research market and creating cutting-edge items to combat the pandemic. Even though COVID-19 harms the industry, preparing and implementing backup plans as soon as possible for business operations is crucial. Various collaborations and mergers are happening worldwide, boosting the market’s growth. For instance, in Jul 2022, GC Aesthetic, a private medical technology company that provides reconstructive and aesthetic solutions, announced its partnership with UMECO Group. This Korean company distributes medical devices for the beauty, medical and aesthetic markets.

Segment Analysis

The reconstructive surgical procedure segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)          

The reconstructive surgical procedure segment is the highest market holder in the global plastic surgery market. The reconstructive surgical procedure share accounted for the largest market because of its novel, innovative product launches, increasing regulatory approvals, and increasing demand for tumor removal surgery. Reconstructive Surgery is performed on abnormal body structures caused by congenital disabilities, developmental abnormalities, trauma, infection, tumors, or disease. It is generally performed to improve function but may also approximate a regular appearance to enhance the patient’s appearance and self-esteem. According to the American Society of Plastic Surgeons report in 2020, around $16.7 billion was spent in the United States with 6.8 million reconstructive surgical procedures that took place in 2020, out of which tumor removal was the most chosen reconstructive surgery with around 5.2 million procedures. Tumor removal is a very common type of cancer surgery known as excision, in which the tumor and nearby healthy cells are removed from the body. Due to increasing tumor cases, there is an increase in demand for reconstructive surgical procedures that will lead to the growth of the plastic surgery market.

Geographical Analysis

North America holds the largest market share of the global plastic surgery market.

North America dominates the global plastic surgery market, primarily attributed to the increasing number of partnerships or collaborations between companies, the rising demand for plastic surgeries, and increasing competition due to social media. Furthermore, factors including people focusing more on their physical appearance and body shape and the rising influence of media and the fashion industry will likely enhance the growth of the region's plastic surgery market.

Moreover, the growing number of product launches is responsible for the market’s growth. Other factors, such as the high spending on healthcare and plastic surgeries globally, stimulate the market’s growth. Many key developments are taking place based in this region. For instance, in Jan 2021, Allergan Aesthetic, an AbbVie company, launched CoolSculpting Elite, a next-gen fat reduction system designed to embellish the body's natural curves. This technology targets freezes and then removes the treated fat cells. It treats fat bulges visible in 9 areas such as back fat, thigh, upper arm and abdomen.

Competitive Landscape

The plastic surgery market is highly competitive with the presence of local and global companies. Allergan Inc., Alma Laser Ltd., Cynosure LLC, Galderma S.A, Bausch Health, Merz Aesthetics, Candela Corporation, Johnson and Johnson, Evolus Inc., GC Aesthetics and more. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the market’s growth. For instance, in Jan 2021, Merz Aesthetic, a medical aesthetic business, announced its collaboration with Candela Corporation, a medical aesthetic device provider for providing the broadest portfolios of medical aesthetics globally. It will expand the injectable, device and skincare products and services.

Allergan Inc.:

Overview:

Allergan is a pharmaceutical company that develops, produces and markets drugs with a brand name and medical devices in medical aesthetics, central nervous system, eye care, and gastroenterology. It was established in 2013 and is headquartered in California, U.S.

­Product Portfolio:

BOTOX Cosmetic (OnabotulinumtoxinA): It is a protein that is neurotoxic in nature and is produced by clostridium botulinum bacteria. Botulinum neurotoxin therapy is considered safe and is FDA-approved, improving the appearance of the severe forehead and glabellar lines.

Key Development: In May 2021, Allergan Aesthetic announced the acquisition of Soliton and RESONIC, a rapid acoustic pulse device that is a non-invasive treatment for improvement in cellulite appearance. It has got clearance from the United States Food and Drug Administration. This acquisition will increase Allergan’s portfolio of body contouring treatments.

The global plastic surgery market report would provide access to approximately 40+ market data tables, 45+ figures, and 200 (approximate) pages.  

Frequently Asked Questions

What is the Projected CAGR value of the Plastic Surgery Market?

Plastic Surgery Market is expected to grow at a CAGR of 5% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Plastic Surgery Market during 2022-2029

Which is the fastest growing region in the Plastic Surgery Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period

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