Gurgaon, India: The global cosmetic surgery market has the potential to grow by USD 11.24 billion between 2020-2024 at the growth rate of 7%, according to a global cosmetic surgery market report.
On the other hand, the global Minimally-Invasive surgery market has the potential to reach USD 32.7 billion by the year 2025 at the growth rate of 8.5%.
The reports highlight the current industry scenario, growth rate, and key indicators that are transforming the industry trends in the coming years to 2025. Moreover, these also provide a detailed analysis of the global market size, market growth on the basis of regions, and key market players.
Both of the reports cover the following regions to gather knowledge about market trends-
- North America
- Central America
- Asia Pacific
- The Middle East and Africa.
Key Findings From Global Cosmetic Surgery Market 2020
- Greater demand for Minimally-Invasive (MI) and Non-Invasive Cosmetic surgeries is a driving factor for cosmetic surgery market growth
The minimally-invasive or non-invasive procedures which involve several small incisions or no incisions at all are gaining demand among the people. The most popular MI technology is laser technique which ensures enhanced facial contour with higher success and less pain. Therefore, this is a key driver encouraging people to opt for cosmetic surgeries.
- Modern healthcare system, Pristyn Care has emerged as a key market player in the Indian cosmetic landscape as they are offering several cosmetic gynecological procedures with MI technique
Pristyn Care, an asset-light fullstack healthcare provider in India, is offering several cosmetic gynecological procedures. Dr. Garima Sawhney, Gynecologist and Co-Founder of Pristyn Care said, “A lot of women want to take aesthetic gynecology procedures however are still repressed by the disapproved viewpoint of society. Our team is trying to create awareness amongst women and make them understand the need for these procedures.” She further added that there is a growing demand among women in India about aesthetic gynecological procedures so that they can lead a more social-friendly life.
- Factors such as higher number of cosmetic surgeons and rising awareness are responsible for this fast growth in the global market landscape
The current trend of swift growth around the globe is primarily due to the following factors-
- The rising number of cosmetic hospitals and surgeons around the globe.
- High awareness among common people about cosmetic surgery, mainly through social media.
- Several academic institutions are urging candidates to take cosmetic implant related courses thereby, increasing the availability of cosmetic specialists.
- Asia to emerge as the fastest subcontinent in the global cosmetic surgery market
The Global Cosmetic Surgery Report 2020 forecasts that Asia will be the key market to provide numerous growth opportunities to multiple players. The subcontinent will account for the 33% growth of the global market by the end of 2024. Japan and South Korea have been predicted as the two largest markets in Asia. Moreover, two primary factors responsible for driving growth in the cosmetic surgery market in this region would be- higher expenditure capabilities as well as changing the idea of body contour.
Key Findings from Global Minimally-Invasive Surgery Equipment Report 2020
- Factors such as the benefits of MI surgeries over conventional methods and increasing demand are contributing to the minimally-invasive surgery growth on a global scaleThe increase in awareness of the several benefits that minimally-invasive surgeries offer over traditional surgical techniques has played a major component for rapid growth in this landscape. Advantages such as a short hospital stay, long-term results, minimal pain are not provided by any other surgical techniques. Owing to its benefits, there is a higher demand for minimally-invasive surgeries around the globe.
- The uncertain regulatory framework is holding back the growth of global minimally-invasive surgery marketPredictions from the report state that the growth rate could have been higher provided if there was a well-designed regulatory framework in place. The uncertainty of this framework in the medical equipment industry is curbing the growth of this market at a faster rate.
- Almost 7 key market players dominate the global landscape
The dominant companies in the Minimally-Invasive equipment market are- Medtronic plc, Johnson and Johnson, Stryker Corporation, B.Braun Melsungen AG, Smith & Nephew plc, Boston Scientific Corporation and CONMED Corporation.
- North America offers the largest share of the market while Asia Pacific is estimated to be the biggest player by the end of 2025In 2018, North America was responsible for the largest percentage of the MIS instrument market across the globe. According to the Global Minimally-Invasive Surgery Market Report 2020, the Asia Pacific region is predicted to grow at the highest growth rate by 2025. The report further suggests that there are various contributing elements responsible for this prediction- higher percentage of patient pool undergoing surgical treatments, rising awareness among masses about the latest surgical instruments and methods and lastly, proper initiatives to reduce healthcare costs in this region.
There are a lot of participants in the Asia-Pacific market who are already grabbing this window of opportunity, eventually giving a boost to the predictions. “Out of all these key highlights, the most anticipated one is the market growth for both minimally-invasive surgeries and cosmetic surgeries in the Asia-Pacific region. It will provide a plethora of opportunities benefitting both the patients and the health providers in this region”, said Harsimarbir Singh, Co-Founder, Pristyn Care.