Cosmetic Surgery & Services Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 92.14 Billion |
| Market Size (2029) | USD 120.43 Billion |
| CAGR (2024 - 2029) | 5.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Cosmetic Surgery & Services Market Analysis
The Cosmetic Surgery And Services Market size is estimated at USD 92.14 billion in 2024, and is expected to reach USD 120.43 billion by 2029, growing at a CAGR of 5.5% during the forecast period (2024-2029).
The COVID-19 outbreak had a significant impact on the cosmetic surgery and services market as hospital and healthcare services were significantly reduced due to social distancing measures taken by governments across the world. The sales of the product through online outlets escalated during the pandemic. For instance, a cross-sectional survey conducted to evaluate the practices related to the use of light-based home-use hair removal devices was published in January 2022 in the International Journal of Trichology (Hair Research Society of India), and the results of the survey showed a significant rise in adoption of light-based home-use hair removal devices among the population during the outbreak. An article published in the Aesthetic Surgery Journal in October 2021 indicated that although there was an initial decrease in the searches for aesthetic interventions, these inquiries have been increasing and will likely continue to increase as the pandemic resolves. Therefore, even though the Covid-19 pandemic has had a slightly adverse impact on the studied market, the demand for aesthetic procedures and technical advances has increased during and after the pandemic, positively impacting the cosmetic surgery market.
The key factors propelling the market's growth are technological advancements in devices, growing demand for minimally invasive and non-invasive procedures, and growing awareness regarding cosmetic surgery. The ASPS data updated in February 2022 reported that in 2020, a total of 13,281,235 cosmetic minimally invasive procedures were performed in the United States, among which botulinum toxin remained the top procedure with 4.4 million procedures, followed by soft tissue filler (3.4 million) and Laser Skin Resurfacing (9,97,245). Thus, the growing popularity of aesthetic treatment for facial enhancement is the key market driver.
The demand for cosmetic surgeries and minimally invasive procedures, such as botulinum toxin and facial filler injections, has increased dramatically over the past decade. For the past few years, US citizens have been spending more money on cosmetic surgeries. Market players are frequently launching technologically advanced products, which may drive segmental growth during the forecast period. For instance, in August 2020, Revance launched the RHA (resilient hyaluronic acid) collection of fillers. The resilient hyaluronic acid fillers are designed to adapt to facial dynamics and represent the first step in the line of products for aesthetic practices. Such factors, along with technological advancements in devices and growing awareness regarding cosmetic surgery, are expected to boost the cosmetic surgery and services market over the forecast period.
Additionally, the approval of products by various regulatory authorities across the globe is also boosting the growth of the market. For instance, in January 2022, Lumenis launched the Splendor X device, CE cleared for hair removal, vascular treatments, pigmented lesions, and the treatment of wrinkles. in the United Kingdom.
Thus, owing to the abovementioned factors, the studied market is expected to grow over the forecast period. However, stringent regulatory policies and, side effects associated with cosmetic treatments may hinder the growth of the market.
Cosmetic Surgery & Services Market Trends
The Botulinum Toxin Segment is Expected to Witness the Fastest Growth in the Market
Botulinum toxin is a naturally occurring substance with wider applications. The most common use of this toxin is in treating painful muscle spasms and cosmetic treatment. Botox and Dysport are the commercial names of the botulinum toxin. In 1950, researchers found that the minute use of this toxin helps control muscle movement. Gradually, they realized the benefit of this substance in cosmetic treatments.
There is increased competition in the United States, with many players launching several products. For instance, in July 2021, Allergan received the US FDA approval of a label expansion of BOTOX to include eight new muscles for the treatment of upper limb spasticity in adults. The new muscles for treatment include additional muscles of the elbow and forearm (brachialis, brachioradialis, pronator teres, and pronator quadratus). The American Society of Plastic Surgeons study found that Botox injections were the most popular non-invasive cosmetic procedure in 2020, with 4.4 million procedures performed in the year. Hence, the use of botulinum toxins in aesthetic medicine has increased remarkably. Botox injections are used to treat frown lines, crow's feet, and horizontal forehead lines, which are cosmetic indications approved by the US FDA. They offer predictable results with few adverse effects and are associated with high patient satisfaction with the rising applications of the substance. Thus, the segment is expected to experience rapid growth worldwide.
In addition, as per Cosmetic Executive Women, a trade organization for the cosmetics, fragrance, and personal care industry, in 2021 9,435,000 people searched for aging-related concerns in the skincare category every month in the United States and people searched for Botox treatment in 2021 was 25.5% more than in the year 2020. This rising awareness about medical aesthetic procedures is increasing and driving the segment's growth.
North America is Expected to Dominate the Market Over the Forecast Period
North America dominates the cosmetic surgery and services market due to the rising population focusing on external aesthetics and the improvements being done in cosmetic procedures. According to the American Society of Plastic Surgeons (ASPS), in 2020, 15.5 million cosmetic procedures were performed in the United States, out of which 13.2 million were minimally invasive.
The large volume of aesthetic procedures in the region creates the need for aesthetic devices and thus drives the growth of the market. For instance, according to the AAFPRS survey released in March 2022, in the United States, an estimated 1.4 million surgical and non-surgical procedures were performed in 2021, an increase of 40% over the procedures performed in 2020. Moreover, according to the International Society of Aesthetic Plastic Surgery, a total of around 860,718 aesthetic procedures were done in Mexico in 2020. The non-surgical procedures were in the lead with over 331,348 injectables and 20,831 facial rejuvenation procedures. Therefore, the increasing cosmetic procedures are expected to boost the growth of the market in the region over the forecast period.
Currently, people in North America are spending more money on cosmetics. They are eager to adopt novel cosmetic treatments, thus boosting market development. For instance, in September 2021, Galderma's Restylane portfolio grew and expanded. Restylane Eyesight was launched as a targeted treatment solution to combat under-eye shadows. In February 2021, the FDA approved Restylane Defyne for the augmentation and correction of mild to moderate chin retrusion for adults over 21 years. In the future, new product approvals and launches are expected to hit the market, thus boosting the market's growth during the forecast period.
Cosmetic Surgery & Services Industry Overview
The cosmetic surgery and services market is consolidated. Key players with major market shares include Abbvie, Bausch Health Companies Inc., Merz Pharma GmbH & Co. KGaA, Galderma SA, and Johnson & Johnson. With the help of product innovation, a few small-scale companies are also penetrating the market and holding a substantial share.
Cosmetic Surgery & Services Market Leaders
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Bausch Health Companies Inc.
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Merz Pharma
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Johnson and Johnson
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AbbVie Inc.
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Galderma SA
*Disclaimer: Major Players sorted in no particular order
Cosmetic Surgery & Services Market News
- In June 2022, Cynosure launched the PicoSure Pro device, its latest upgrade to the PicoSure platform.
- In March 2022, Sientra breast implants received regulatory approval from Health Canada. The company will market breast implants in Canada through its local partner Kai Aesthetic. Through the distribution agreement, Sientra will uphold the highest product, safety, and service standards for patients and plastic surgeons.
Cosmetic Surgery & Services Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Technological Advancements in Devices
- 4.2.2 Growing Demand for Minimally Invasive and Non-invasive Procedures
- 4.2.3 Growing Awareness Regarding Cosmetic Surgery
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4.3 Market Restraints
- 4.3.1 Stringent Regulatory Policies
- 4.3.2 Side Effects Associated with Cosmetic Treatments
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Treatment Type
- 5.1.1 By Surgical
- 5.1.1.1 Breast Augmentation
- 5.1.1.2 Liposuction
- 5.1.1.3 Tummy Tuck
- 5.1.1.4 Eyelid Surgery
- 5.1.1.5 Breast Lift
- 5.1.2 By Non-surgical
- 5.1.2.1 Botulinum toxin
- 5.1.2.2 Dermal Fillers
- 5.1.2.3 Laser Hair Removal
- 5.1.2.4 Photo-rejuvenation
- 5.1.2.5 Microdermabrasion
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5.2 Geography
- 5.2.1 North America
- 5.2.1.1 United States
- 5.2.1.2 Canada
- 5.2.1.3 Mexico
- 5.2.2 Europe
- 5.2.2.1 Germany
- 5.2.2.2 United Kingdom
- 5.2.2.3 France
- 5.2.2.4 Italy
- 5.2.2.5 Spain
- 5.2.2.6 Rest of Europe
- 5.2.3 Asia-Pacific
- 5.2.3.1 China
- 5.2.3.2 Japan
- 5.2.3.3 India
- 5.2.3.4 Australia
- 5.2.3.5 South Korea
- 5.2.3.6 Rest of Asia-Pacific
- 5.2.4 Middle-East and Africa
- 5.2.4.1 GCC
- 5.2.4.2 South Africa
- 5.2.4.3 Rest of Middle-East and Africa
- 5.2.5 South America
- 5.2.5.1 Brazil
- 5.2.5.2 Argentina
- 5.2.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 AbbVie Inc.
- 6.1.2 Bausch Health Companies Inc.
- 6.1.3 Cynosure Technologies
- 6.1.4 Galderma SA
- 6.1.5 Laboratories Vivacy SaS
- 6.1.6 Merz Pharma GmbH & Co. KGaA
- 6.1.7 Sinclair Pharma PLC
- 6.1.8 Syneron
- 6.1.9 Teoxane Laboratories
- 6.1.10 Vital Esthetique
- 6.1.11 Johnson & Johnson
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Cosmetic Surgery & Services Industry Segmentation
Cosmetic plastic surgery includes surgical and non-surgical procedures that enhance and reshape structures of the body to improve appearance and confidence. Since it is elective, cosmetic surgery is usually not covered by health insurance. The cosmetic surgery and services market is segmented by treatment type (surgical (Breast Augmentation, Liposuction, Tummy Tuck, Eyelid Surgery, Breast Lift), and non-surgical (Botulinum toxin, Dermal Fillers, Laser Hair Removal, Photo-rejuvenation, Microdermabrasion)) and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The Market Report Also Covers the Estimated Market Sizes and Trends for 17 Countries Across Major Regions Globally. The report offers the value in USD million for the above segments.
| By Treatment Type | By Surgical | Breast Augmentation |
| Liposuction | ||
| Tummy Tuck | ||
| Eyelid Surgery | ||
| Breast Lift | ||
| By Treatment Type | By Non-surgical | Botulinum toxin |
| Dermal Fillers | ||
| Laser Hair Removal | ||
| Photo-rejuvenation | ||
| Microdermabrasion | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle-East and Africa | GCC |
| South Africa | ||
| Rest of Middle-East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Cosmetic Surgery & Services Market Research FAQs
How big is the Cosmetic Surgery And Services Market?
The Cosmetic Surgery And Services Market size is expected to reach USD 92.14 billion in 2024 and grow at a CAGR of 5.5% to reach USD 120.43 billion by 2029.
What is the current Cosmetic Surgery And Services Market size?
In 2024, the Cosmetic Surgery And Services Market size is expected to reach USD 92.14 billion.
Who are the key players in Cosmetic Surgery And Services Market?
Bausch Health Companies Inc., Merz Pharma, Johnson and Johnson, AbbVie Inc. and Galderma SA are the major companies operating in the Cosmetic Surgery And Services Market.
Which is the fastest growing region in Cosmetic Surgery And Services Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Cosmetic Surgery And Services Market?
In 2024, the North America accounts for the largest market share in Cosmetic Surgery And Services Market.
What years does this Cosmetic Surgery And Services Market cover, and what was the market size in 2023?
In 2023, the Cosmetic Surgery And Services Market size was estimated at USD 87.07 billion. The report covers the Cosmetic Surgery And Services Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Cosmetic Surgery And Services Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Cosmetic Surgery and Services Industry Report
Statistics for the 2024 Cosmetic Surgery and Services market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Cosmetic Surgery and Services analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
