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Cosmetic Surgery Market Size, Share & COVID-19 Impact Analysis, By Procedure (Surgical Procedures and Non-surgical Procedures), By Gender (Females and Males), By Provider (Hospitals & Specialty Clinics and Spas & Cosmetic Surgery Centers), and Regional Forecast, 2022-2029

Region : Global | Format: PDF | Report ID: FBI102628

 

KEY MARKET INSIGHTS

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The global cosmetic surgery market size was valued at USD 53.79 billion in 2021. The market is projected to grow from USD 55.65 billion in 2022 to USD 71.93 billion by 2029, exhibiting a CAGR of 3.7% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with cosmetic surgery experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a decline of -17.8% in 2020 as compared to 2019.


The growing popularity of cosmetic procedures among the general population to improve their aesthetic appearance is increasing each year. Furthermore, the increasing prevalence of dermatology conditions and the presence of a large patient pool requiring treatment are growing the need and demand for such procedures in the market.



  • According to the data published by the British skin foundation in 2020, nearly 60.0% of people are suffering from some kind of skin condition in the U.K.


However, the availability of innovative technologies and devices for treating dermatology conditions and improving reimbursement policies for cosmetic procedures fuel the number of patients undergoing cosmetic surgery. Furthermore, the population preferring easy, pain-free methods for appearing youthful and healthy without complications is increasing the demand for non-surgical procedures.


Additionally, key cosmetic surgery players are focusing on new product development and receiving approvals to strengthen their market position. For example, in June 2020, Cynosure launched the Elite iQ aesthetic workstation for laser hair removal and skin revitalization in the U.S., Europe, and Australia. This launch reinforced the company’s position in the developed market.


Furthermore, growing demand for medical tourism, where people travel from other countries for various cosmetic procedures, and the emergence of new cosmetic clinics is further fueling the cosmetic surgery market growth during the forecast period.                                       


COVID-19 IMPACT 


Declining Number of Cosmetic Procedures during the COVID-19 Pandemic 


The impact of the COVID-19 pandemic resulted in reduced demand for various cosmetic procedures worldwide. The various countries' governments had instructed to postpone elective and non-essential surgeries to reallocate their healthcare resources to manage COVID-19. The stoppage of elective surgical procedures and the disruption of the supply chain for required material during the pandemic led to decreased cosmetic procedures.



  • According to the American Society of Plastic Surgeons (ASPS), in March 2020, board-certified plastic surgeons stopped performing elective surgical procedures for an average of 8.1 weeks due to COVID-19.


Due to the slowdown of elective surgical procedures in 2020, the total number of cosmetic surgical procedures performed decreased compared to the previous year. This factor affected the sales of the products, and various key players reported a decline in their product sales. For example, Bausch Health Companies Inc., reported a 6.7% decline in total revenue during 2020, while its ortho dermatologic segment reported a decline of 3.0% during 2020.


The ease of lockdown restrictions, increasing demand for home care settings procedures, and focusing on introducing advanced products to meet the demand are expected to drive the market from 2022-2029.



  • In July 2022, LightStim launched Elipsa, the first device to offer dual treatment options for treating acne and wrinkles using LED-based technology. This device is used at home by users.


LATEST TRENDS


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Increasing Demand for Cosmetic Procedures among Male Population to Propel Market Growth


The growing popularity and adoption of cosmetic procedures among the male population are increasing annually due to age-related concerns, and men are adopting these procedures to maintain their youthful look. Moreover, the increasing demand for non-surgical procedures such as dermal fillers and botulinum toxin procedures among the male population is leading to the growth in the number of procedures performed and contributed toward the overall market growth. 



  • According to the International Society of Aesthetic Plastic Surgery (ISAPS), in 2020, globally, around 3.4 million cosmetic procedures were performed on men.


Also, the top surgical and non-surgical procedures that men undergo are eyelid surgery, liposuction, gynecomastia, rhinoplasty, botulinum toxin, and hair removal.



  • According to the data published by the International Society of Aesthetic Plastic Surgery (ISAPS) in 2020, it was reported that around 225,177 liposuction, 905,958 botulinum toxin, and 298,070 hair removal were among the most common procedures performed on men.


The above factors and the gradually improving balance between genders are resulting in the overall demand for cosmetic procedures among the male population.


DRIVING FACTORS


Rising Focus on Aesthetic Features to Fuel the Market Growth


In recent years, the demand for cosmetic procedures has gradually changed as aesthetics has become an important aspect of daily life. The rise in population focusing on aesthetic features has generated promising prospects for the market.


Women’s inclination toward cosmetic procedures, such as breast augmentation, liposuction, eyelid surgery, abdominoplasty, breast lift, and others, is increasing the demand for cosmetic procedures in the market. According to the survey conducted by the International Society of Aesthetic Plastic Surgery (ISAPS) in 2020, women account for 86.0% of all cosmetic procedures worldwide.


There has been a preferential shift of patients toward minimally invasive and non-invasive cosmetic procedures over surgical procedures. People choose non-surgical procedures due to the various advantages such as reduced recovery time, less pain, and reduced healthcare costs, among others.



  • According to the data published by the Aesthetic Society in 2021, it was reported that in the U.S., around 4.5 million non-surgical cosmetic procedures were performed out of 6.8 million cosmetic procedures conducted across the world.


The factors mentioned above, increase in research and development investments, and new product launches by key players are further driving the growth of the market and contributing to the growth of the market.


RESTRAINING FACTORS


Complications Associated with Cosmetic Procedures to Restrict the Market Growth


The growing popularity of aesthetic procedures in the U.S., Germany, Brazil, and others is increasing the number of cosmetic procedures performed. This factor has increased the complications associated with the treatment, affecting the market growth. Several complications can occur during or after the cosmetic procedure.


The procedures carried out by non-physicians in salons, spas, and other non-medical settings are causing an increasing number of complications. Some common complications of aesthetic procedures include scars, swelling, infections, and nerve damage, among others.



  • For example, common side effects include hematoma, which occurs in around 2.0% to 4.0% of the patients undergoing breast augmentation. A hematoma is a blood pocket resembling a large, painful bruise.

  • According to the Archives of Plastic Surgery, Seroma can occur following a tummy tuck in 15.0% to 30.0% of patients. It is a condition that occurs when serum pools beneath the surface of the skin, resulting in swelling and pain


Moreover, the side effects caused by using facial fillers is another major factor restricting the market growth. Some of the common complications include redness, skin pigmentation, bruising, crooked smile, inflammatory reaction, and others.


Safety concerns arise in people’s minds and this limits the pool of people undergoing cosmetic procedures. This factor has been pivotal in limiting the demand for cosmetic procedures along with the high costs associated, which has negatively impacted and restricted the market’s growth.


SEGMENTATION


By Procedure Analysis


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Non-surgical Procedures Segment to Dominate Backed by their Robust Demand


On the basis of procedure, the market has been classified into surgical procedures and non-surgical procedures.


The surgical procedures segment dominated the market in 2021. The increase in demand for surgical procedures such as breast augmentation, liposuction, and others is due to the procedure's long-term results, which do not require to be repeated every couple of years. Further, the availability of approved aesthetic devices offered by key players in the market contributes to the segment's growth.



  • For example, in July 2020, Bausch Health Companies Inc.’s Solta Medical released a radiofrequency device-Thermage FLX system designed to tighten the skin. Thermage FLX is the only FDA-approved system for the treatment of eyelids.


On the other hand, the non-surgical procedures segment is expected to register the highest CAGR during the forecast period. The growing popularity and higher patient population undergoing non-surgical procedures such as dermal filler, botulinum toxin, hyaluronic acid, and others across the world is fueling the segment growth during the forecast period. This growing popularity is attributable to the various benefits offered, such as less recovery time, reduced hospitalization rates, painless procedures, and others.



  • According to the data published by the International Society of Aesthetic Plastic Surgery (ISAPS), around 14.4 million non-surgical procedures were performed worldwide in 2020.


By Gender Analysis


Females Segment to Dominate Owing to Growing Emphasis on Aesthetic Appearance


On the basis of gender, the market has been segmented into females and males.


The females segment captured the largest market share in 2021. The large number of females undergoing cosmetic procedures for various applications, such as skin resurfacing & tightening, hair removal, breast reduction, and others, is fueling the segment growth. Moreover, breast augmentation is the most common procedure performed by plastic surgeons across the world.



  • According to the data published by the International Society of Aesthetic Plastic Surgery (ISAPS) in 2020, globally, around 21.1 million cosmetic procedures were performed on females out of a total of 24.5 million cosmetic procedures conducted.


On the other hand, the males segment is expected to grow during the forecast period. The increasing adoption of cosmetic procedures by men to improve their aesthetic appearance to have a youthful look is increasing the demand for cosmetic procedures among the male population. Increasing the number of males undergoing procedures such as gynecomastia, and eyelid surgery, among others, across the world, is expected to fuel segmental growth during 2022-2029.



  • According to the data published by the International Society of Aesthetic Plastic Surgery (ISAPS) in 2020, around 210,737 gynecomastia procedures were performed globally.


By Provider Analysis


Hospitals & Specialty Clinics Segment to Dominate Attributable to Diversified Service Offerings


Based on provider, the market is classified into hospitals & specialty clinics and spas & cosmetic surgery centers.


The hospitals & specialty clinics segment captured the largest market share in 2021. Most cosmetic procedures are performed in hospitals & specialty clinics compared to other facilities. Furthermore, the growing demand for minimally invasive procedures and the preferential shift of patients toward specialty clinics are fueling the segment growth. Also, majority of plastic surgeons prefer to be associated with hospitals & specialty clinics, offering a diverse portfolio of services.



  • According to the data published by the International Society of Aesthetic Plastic Surgery in 2020, out of the total cosmetic procedures performed across the world, 8.2 million procedures were conducted in hospitals, and around 6.1 million procedures were conducted in specialty clinics


On the other hand, the spas & cosmetic surgery centers segment is expected to grow positively in the upcoming years due to robust growth of medical tourism and the emergence of new medical spas and cosmetic surgery centers is fueling the segment growth.



  • For example, according to the data published by the International Society of Aesthetic Plastic Surgery (ISAPS) in 2020, around 10.9% of patients travel from other countries to Brazil for various cosmetic procedures.


Also, a gradual increase in the number of procedures performed in cosmetic centers is further fueling the segment growth during the forecast period.


REGIONAL INSIGHTS


North America Cosmetic Surgery Market Size, 2021 (USD Billion)

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On the basis of region, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.


North America captured a market value of USD 16.83 billion in 2021. The dominance of this region is due to the presence of highly qualified plastic surgeons performing various cosmetic procedures and the growing number of aesthetic clinics in the U.S. and Canada is responsible for the growth of this region. Also, the high adoption of the latest advanced aesthetic devices in the market is further fueling the growth in this region.



  • For example, according to the data published by the Aesthetic Society in 2021, around 320 surgical procedures were carried out on average by plastic surgeons compared to 220 procedures performed in 2020.


Europe held the second position in the global market. The increasing number of non-invasive procedures and the emergence of new medical spas in countries like Germany, France, and others are fueling market growth in this region. According to the data published by the German National Tourist Board in 2020, around 350 operating medical spas are present in Germany.


Latin America is expected to register the highest CAGR during the forecast period. The growing demand for medical tourism, the acceptance of innovative techniques in various aesthetic clinics, and providing patients with cosmetic procedures at an affordable price are major factors fueling the market’s growth in this region.



  • For example, in June 2022, the Silicone Center clinic in Brazil announced that it is offering variant sizes of silicone prosthesis implants at affordable pricing for breast augmentation procedures to meet customers' demands.


KEY INDUSTRY PLAYERS


Introduction of Products by Key Players to Strengthen their Market Position


In terms of the competitive landscape, Bausch Health Companies Inc., Johnson & Johnson Services, Inc. (MENTOR), and AbbVie Inc. dominate the global cosmetic surgery market share due to the presence of a wide product portfolio and rising focus on the introduction of advanced products in the market.



  • In January 2021, AbbVie Inc.’s Allergan Aesthetics launched CoolSculpting Elite. It is used to treat fat bulges in nine areas of the body.


Other companies, such as Cutera, GALDERMA, Merz Pharma, and Cynosure, among others, have a prominent presence in the global market. Anticipated product launches and strategic executions for expanding the companies’ market presence are expected to propel the growth of these companies.



  • In February 2022, Merz Pharma announced the launch of Radiesse + Lidocaine injectable implant. This implant is used as a deep injection for soft tissue expansion to improve moderate to a severe loss of jawline shape in adults over the age of 21.


LIST OF KEY COMPANIES PROFILED:



  • Bausch Health Companies Inc. (Canada)

  • Johnson & Johnson Services, Inc. (MENTOR) (U.S.)

  • AbbVie Inc. (U.S.)

  • Cutera (U.S.)

  • Merz Pharma (Germany)

  • GALDERMA (Switzerland)

  • Sientra, Inc. (U.S.)

  • Cynosure (U.S.)

  • Apyx Medical (U.S.)

  • Long Island Plastic Surgical Group, PC (U.S.)


KEY INDUSTRY DEVELOPMENTS:



  • July 2022 – Cutera announced the approval for AviClear, the first and only laser treatment device approved in the U.S. to cure mild, moderate, and severe acne.

  • June 2022 – Cynosure launched the PicoSure Pro Device, which has an advanced lens focus array made of Platinum which would help to reduce wrinkles, acne scars, and pores by increasing the content of collagen and elastin.

  • May 2022 – Apyx Medical announced that it received 510(k) clearance from the U.S. FDA for using the Renuvion Dermal Handpiece for specific dermal resurfacing procedures.

  • February 2021 GALDERMA received the U.S. FDA approval for Restylane Defyne for the augmentation and correction of mild to moderate chin retrusion.

  • February 2021 Merz Pharma announced the launch of BELOTERO BALANCE + Lidocaine in the U.S. The BELOTERO BALANCE is a hyaluronic acid (HA) filler for etched-in lines & advantages of lidocaine formulation provides a perfect finish to filler patients.

  • July 2020 – Bausch Health Companies Inc.’s Solta Medical has released the radiofrequency device-Thermage FLX system, designed to tighten skin. Thermage FLX is the only FDA-approved system for the treatment of eyelids.


REPORT COVERAGE


An Infographic Representation of Cosmetic Surgery Market

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The research report provides a detailed analysis of the market. It focuses on key aspects such as leading companies, procedures, gender, and provider. Besides, it offers insights into market trends and highlights key industry developments. In addition to the abovementioned factors, the report encompasses several factors that have contributed to the market's growth in recent years.


Report Scope & Segmentation


















































  ATTRIBUTE



  DETAILS



Study Period



2018-2029



Base Year



2021



Forecast Period



2022-2029



Historical Period



2018-2020



Unit



Value (USD billion)



Segmentation



By Procedure, Gender, Provider, and Region



By Procedure




  • Surgical Procedures

    • Breast Augmentation

    • Liposuction

    • Eyelid Surgery

    • Abdominoplasty

    • Rhinoplasty

    • Others



  • Non-surgical Procedures

    • Botulinum Toxin

    • Hyaluronic Acid

    • Hair Removal

    • Nonsurgical Fat Reduction

    • Photo Rejuvenation

    • Others





By Gender




  • Females

  • Males



By Provider




  • Hospitals & Specialty Clinics

  • Spas & Cosmetic Surgery Centers



By Region




  • North America (By Procedure, By Provider, By Gender, By Country)


    • U.S.

    • Canada


  • Europe (By Procedure, By Provider, By Gender, By Country/Sub-Region)


    • Germany






    • U.K.

    • France

    • Italy

    • Spain

    • Russia

    • Rest of Europe



  • Asia Pacific (By Procedure, By Provider, By Gender, By Country/Sub-Region)

    • China

    • Japan

    • India

    • South Korea

    • Southeast Asia

    • Rest of Asia Pacific





  • Latin America (By Procedure, By Provider, By Gender, By Country/Sub-Region)





    • Brazil

    • Mexico

    • Rest of Latin America



  • Middle East & Africa (By Procedure, By Provider, By Gender, By Country/Sub-Region)

    • Egypt

    • Turkey

    • Rest of Middle East & Africa





Frequently Asked Questions

Fortune Business Insights says that the global market stood at USD 53.79 billion in 2021 and is projected to reach USD 71.93 billion by 2029.

In 2021, the market stood at USD 53.79 billion.

The market will exhibit a CAGR of 3.7% during the forecast period (2022-2029)

The surgical procedures segment is expected to be the leading segment in the market during the forecast period.

The growing prevalence of dermatology conditions among individuals, coupled with increasing demand for cosmetic procedures, will drive the market.

Bausch Health Companies Inc., AbbVie Inc., and Johnson & Johnson Services, Inc. (MENTOR) are the top players in the market.

North America is expected to hold the highest market share in the market.

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