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Meeting the Needs of a Growing Population: The Evolving Global Cosmetic Surgery Product Market

Author : Bhushan S | Published On : 17 Apr 2024

The cosmetic surgery product market forgoods will reach a valuation of US$ 19.09 billion by 2023. It is anticipated to grow at a compound annual growth rate (CAGR) of 8.1% between 2023 and 2033, when it would have accumulated US$ 41.64 billion.

The industry's growth is due to the accessibility of highly developed products that can execute a range of surgical procedures as well as the younger population's increasing awareness of cosmetic procedures.

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The emergence of advanced technical equipment, such as non-invasive body contouring systems that utilize fat-freezing technology, is anticipated to present favorable growth prospects for the industry in the upcoming ten years. According to the Aesthetic Society of the United States, 140,314 non-invasive body fat reduction treatments were carried out in 2020, placing it in the top 5 non-invasive procedures in the nation.

A Younger Generation Embraces Cosmetic Enhancement

The global cosmetic surgery products market is experiencing significant growth, fueled by a growing trend among younger demographics. Increased awareness of cosmetic procedures and a desire for a more youthful appearance are driving demand for these products.

Technological Advancements Fuel Market Innovation

The market is not only expanding in terms of user base, but also evolving rapidly due to advancements in technology. The development of innovative products like non-invasive body contouring systems utilizing fat-freezing technology is creating exciting possibilities for minimally invasive cosmetic procedures. This trend is expected to continue, offering a wider range of safe and effective cosmetic options for patients.

Key Takeaways:

  • The global cosmetic surgery products market is estimated to reach US$41.64 billion by 2033, reflecting a significant rise from US$19.09 billion in 2023.
  • This growth is projected at a steady compound annual growth rate (CAGR) of 8.1% throughout the forecast period.
  • Rising young consumer interest in cosmetic procedures and advancements in surgical technology are key drivers for market expansion.

Competition Analysis:

Key players in the global cosmetic surgery products include Mentor Corporation, Allergan, Candela Corp, Lumenis Ltd., Cutera Inc, Palomar Medical, Iridex Corp, DermaMed Pharmaceutical Inc, Solta Medical, Medtronic plc, Syneron Medical Ltd., Johnson & Johnson Services, Inc. Cynosure Inc., and several others.

Key Updates from the Industry

  • Apyx® Medical Corporation introduced the Apyx One Console, its latest-generation Renuvion generator, to the United States in January 2023. This state-of-the-art console boasts a multi-functional design, integrating an advanced 3-in-1 energy system that empowers plastic and cosmetic surgeons to utilize Renuvion technology alongside full monopolar and bipolar energy options.
  • ZimVie made an announcement in November 2022 about the launch of their TSX implant in the United States. This implant represents the latest advancement in their range of surgical, restorative, and digital dentistry solutions. The TSX implants are specifically designed for immediate extraction and loading procedures, offering enhanced predictability and stability when placed in both soft and dense bone.
  • Health Canada granted regulatory approval to Sientra’s breast implants in March 2022. The company plans to offer these breast implants in Canada by collaborating with its local partner, Kai Aesthetic. Under the distribution agreement, Sientra is committed to maintaining the utmost product quality, safety, and service standards, ensuring the well-being of patients and plastic surgeons alike.
  • In March 2021, Iridex Corporation a provider of innovative ophthalmic laser-based medical products for the treatment of glaucoma and retinal diseases, announced today that it has entered into a strategic collaboration with Topcon Corporation. Topcon is a Japanese-based manufacturer and distributor with approximately US$ 1.3 Billion in annual revenues, including US$ 430 Million from its eye care business.
  • In May 2020, AbbVie, announced that it has completed its acquisition of Allergan plc following receipt of regulatory approval from all government authorities required by the transaction agreement and approval by the Irish High Court.

Key Segments Profiled in the Global Cosmetic Surgery Products Market

By Product Type:

  • Cosmetic Surgery Implants
  • Breast Implants
  • Chin & Cheek Implants
  • Injectables
  • Botulinum Toxin
  • Soft Tissue Fillers
  • Dermal Fillers
  • Absorbable Fillers
  • Non-Absorbable Fillers
  • Cosmetic Surgery Lasers
  • Ablative Laser
  • Non-Ablative Laser
  • Microdermabrators
  • Liposuction Equipment
  • Cosmetic Surgery Services

By Application:

  • Face
  • Upper Body
  • Breasts
  • Hands
  • Stomach
  • Lower Body

By End User:

  • Hospitals
  • Ambulatory Surgical Centers
  • Clinics
  • Universities and Research Centers
  • Homecare Settings

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa