Medical Tourism to Drive the Global Cosmetic Surgery And Procedure Market With 5.76% CAGR by 2027
“According to a new market research report published by Inkwood Research, “the Global Cosmetic Surgery and Procedure Market is escalating at a CAGR of 5.76% over the estimated years of 2019-2027.”
“Browse 39 market Data Tables and 41 Figures spread over 146 Pages, along with an in-depth TOC on Global Cosmetic Surgery and Procedure Market forecast 2019-2027.”
Cosmetic surgery and procedures belong to a unique field of medicine that is mainly employed for the enhancement or remodelling the body structures or parts of it to improve their outward appearance. The cosmetic surgery and procedure market is expected to propel at an expansive growth rate over the forecasting years mainly because of the amplifying size of the geriatric population, the rapidly advancing aesthetic industry, rising adoption of medical tourism in the emerging economies, the ongoing penchant for minimally invasive and non-invasive procedures, and the rising disposable income of the general populace.
The rise in the size of the geriatric population and the evolution of the aesthetic industry has primarily propelled the uptake of cosmetic surgery and procedure. The increasing aging population aims for higher demand of anti-aging solutions that mainly satisfy the extraordinary desire to preserve youthful appeal, which has developed among the consumer pool that has occurred due to the obsession with the appearance in identifying oneself with the mass, a practice that is seen excessively in the American culture. Aesthetic surgeries are finding heavy demand across the world since consumer from many age groups are craving the youthful appearance regardless of the chronological years of the users.
Minimally invasive and non-invasive procedures are techniques that limit the size of incisions and therefore lessen pain and scarring, speedy recoveries, and reduce the incidence of post-surgical complications, such as adhesions and wound dehiscence. They have gained a steady rise in popularity in terms of aesthetic procedures because these non-surgical laser treatments cost a fraction of traditional surgical procedures. The easy payment plans and availability of a variety of options have made non-surgical procedures accessible to many patients. Therefore, the increasing popularity of minimally invasive and non-invasive procedures is one of the major factors contributing to the growth of the global cosmetic surgery market.
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Breast Augmentation will Top the Revenue Chart in the Cosmetic Surgery and Procedure Application Market
The breast augmentation is a surgical procedure which is usually employed to gain normal appearance after mastectomy. Recently, it has found a much wider utility in the cosmetic surgical technique for streamlining the bust shape. There are several procedures that are used to enhance the appearance and such solutions are needed for solving reconstructive problems. On the other hand, the cosmetic surgeries involve a separate type technique where they reshape the normal structures of the face or the body to enhance the aesthetical appeal, whereas, reconstructive surgeries correct facial or other structural abnormalities, congenital defects, injuries, previous or concurrent surgeries, infection, tumours, etc.
In Terms of Revenue, Asia Pacific Grabs the Largest Market Share
The cosmetic surgery and procedures market in Asia Pacific region is incessantly undergoing robust growth because of the expanding aging population, increase in dispensable income of the middle-class consumers due to rapid economic development, and increasing awareness & interest about the respective surgical procedures. The regional market is highly assorted due to varying regulatory factors that lead to a varied availability of products in different countries. The dominance of cosmetic procedures is shifting toward the Asia Pacific region primarily because of the rise in demand and increase in the number of cosmetics clinics, especially in the densely populated countries like India and China.
Major Players & Survival Strategies
The market is extremely competitive with key participants involved in R&D and constant product innovation. The key manufacturers include Galderma, Merz Pharma, Alma Lasers Inc., Nestle, Sientra Inc., Cynosure, Inc., Johnson & Johnson, Sinclair Pharma, Allergan PLC, Syneron Medical, Depuy Synthes Companies, Bausch Health Companies Inc. (formerly Valeant Pharmaceuticals), Lumenis, Cutera, and IPSEN, among other companies, are majorly operating in the Global Cosmetic Surgery and Procedure market. These players are adopting various strategic agendas for survival in the market, which primarily includes the acquisition.
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