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Global Cosmetic Procedure Market to Grow at a CAGR of 5.95% During 2022-2027, Aided by the Increasing Consciousness Regarding Physical Appearance and Well-being

According to a new report by EMR titled, ‘Global Cosmetic Procedure Market Report and Forecast 2022-2027’, the market attained a value of about USD 34.5 billion in 2021. The industry is further expected to grow at a CAGR of 5.95% in the forecast period of 2022-2027 to reach USD 49.3 billion by 2027.

The increasing demand for cosmetic procedures can be attributed to the growing awareness among people regarding various surgical and non-surgical cosmetic treatments. The growing focus of individuals on improving their physical appearance, coupled with the need to boost self-esteem is expected to drive the global market for cosmetic procedures. In addition, cosmetic procedures are gaining popularity worldwide, fuelled by the rising living standards and improved disposable incomes. The increased promotion of cosmetic procedures through social media platforms is also supporting the industry growth. Moreover, the rapid technological advancements and the growing investments in research and development activities by the key industry players are expected to aid the market in the forecast period.

The leading market players are focusing on mergers and acquisitions to expand their global reach and expand their product portfolio. For instance, In January 2022, Seintra Inc. (NASDAQ: SIEN) declared the acquisition of all assets of AuraGen Aesthetic, LLC’s novel fat grafting technology to expand its customer base and launch more products for the whole body. The company aims to enhance lives by expanding the art of plastic surgery by superior retention and using the excess fat of an individual to enhance other parts of the body. Meanwhile, in January 2018, Cutera, Inc. (NASDAQ: CUTR) introduced Juliet TM and Secret RF as its new treatment products. Juliet TM is a minimally invasive treatment that uses laser technology to improve vaginal health. Secret RF is the company’s radio frequency micro-needling device that delivers heat into skin to remove wrinkles and diminish scars. Such developments are expected to invigorate the market for cosmetic procedures in the forecast period.

Market Analysis by Type and Region:

  • The cosmetic procedures industry, on the basis of type, can be bifurcated into surgical and non-surgical. Among these, the surgical segment is further divided, based on type, into breast augmentation, liposuction, tummy-tuck (abdominoplasty), eyelid surgery (blepharoplasty), and breast lift. Meanwhile, the non-surgical segment is further segregated, by type, into botulinum toxin, dermal fillers, laser hair removal, chemical peels, photo-rejuvenation, and microdermabrasion.
  • The regional markets for cosmetic procedures include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for cosmetic procedures is being driven by the growing desire among individuals to enhance their physical appearance.
  • The expanding use of social media and the growing influence of advertisements are further augmenting the market growth.
  • The rising disposable incomes and improving living standards of consumers are bolstering the market for cosmetic procedures. 
  • The rapid technological advancements and the growing investments in research and development activities by the key industry players are expected to propel the market growth in the forecast period.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for cosmetic procedures for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the types and regions of cosmetic procedures.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global cosmetic procedure market are Allergan plc, Merz Pharma GmbH and Co. KGaA, Cutera, Inc., Cynosure, LLC, Ipsen subsidiaries, Inc., Sientra Inc., and Alma Lasers Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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