Global Cosmetic Surgery Market 2019-2023| Growing Adoption of MI Procedures to Boost Growth| Technavio
LONDON--(BUSINESS WIRE)--Apr 1, 2019--The global cosmetic surgery market is expected to post a CAGR of over 7% during the period 2019-2023, according to the latest market research report by Technavio.
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The global cosmetic surgery market will post a CAGR of over 7% during the period 2019-2023 (Graphic: Business Wire)
A key factor driving the growth of the market is the increasing demand for minimally invasive and non-invasive cosmetic surgeries as these surgeries involve the use of techniques that cause less damage to the body when compared with conventional procedures such as open surgeries. Also, new and more advanced technologies such as laser techniques are being adopted for facial cosmetic procedures. The growing popularity of these minimally invasive procedures can be attributed to the minimal discomfort owing to shorter hospital stays, and long-term success rate. Thus, the increasing demand for minimally invasive cosmetic surgeries will fuel the growth of the cosmetic surgery market.
As per Technavio, the growing number of hospitals and surgeons specializing in cosmetic surgery will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global cosmetic surgery market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global cosmetic surgery market: Growing number of hospitals and surgeons specializing in cosmetic surgery
The number of cosmetic surgeons and cosmetic surgery hospitals is rising due to the global increase in demand for cosmetic procedures, especially with minimally invasive cosmetic surgeries overtaking conventional surgical procedures. The evolution in education and training courses on cosmetic surgery offered by academic institutions is encouraging more doctors to choose cosmetic surgery as a specialization. This is increasing the number of cosmetic implant procedures. Several healthcare centers across the world are offering cosmetic surgeries such as breast uplifts and breast reduction. Therefore, the increasing number of cosmetic surgery courses and cosmetic surgery hospitals are aiding the growth of the global cosmetic surgery market.
“Apart from the growing number of hospitals and surgeons specializing in cosmetic surgery, the technological advances in cosmetic surgeries are gaining widespread popularity among end-users such as hospitals and specialized cosmetic clinics. Vendors are focusing on developing new technologies such as laser lipolysis and minimally invasive facial rejuvenation procedures, which are expected to drive market growth during the forecast period,” says a senior analyst at Technavio.
Global cosmetic surgery market: Segmentation analysis
This market research report segments the global cosmetic surgery market by type (non-surgical and surgical procedures) and geographical regions (North America, Europe, Asia, ROW).
The North American region led the market in 2018, followed by Europe, Asia, and ROW respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to the social and cultural influences on the idea of beauty in the region, which is leading to increased acceptance of cosmetic surgeries among people in the region.
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