Just spotted a very interesting trade report on the cosmetic surgery business which I am sharing with you. COVID-19 has disrupted the cosmetic surgery industry throughout 2020 so it is important to look optimistically to the future.
The report states that the global cosmetic surgery market is expected to hit $66.96 Billion by 2026 which is an enormous figure. The report by Trusted Business Insights is very complex and wide-ranging.
The report states that::
Cosmetic surgery has always been a topic of attention globally, as the trends demonstrated by cosmetic surgery procedures have shown significant impacts on society. Cosmetic surgery is a part of plastic surgery differing from the latter on the basis of procedures performed and the outcome of the procedure. Cosmetic surgery procedures are aimed toward the enhancement of the physical or aesthetic appearance of a specific part of the body. This differs from plastic surgery which encompasses procedures which are aimed to rectify or correct a defective part of the body. Cosmetic or aesthetic surgery is gaining popularity globally, even in countries that historically and traditionally considered these procedures as a social stigma.
This is what the report says about cosmetic surgery business trends:
Growing Awareness among General Population towards New Cosmetic Procedures
Cosmetic surgery including non-surgical procedures such as Botulinum toxin and other injectables has been in the spotlight for some time now. The availability of medical spas and speciality clinics offering these procedures has been in abundance and is always rising. This has sparked a rise in the number of people undergoing dermal filler and facial injectable non-surgical procedures, to improve their cosmetic appearance. A growing emphasis and self-awareness among the population towards the aesthetic appearance in this digital and social media dominated world, has been pivotal for the observed spike in the number of patients undergoing cosmetic surgery procedures.
Among surgical procedures, a few notable procedures such as breast augmentation, breast reduction, and chin augmentation have seen a significant rise in the number of patients undergoing these procedures. According to the American Society for Aesthetic Plastic Surgery (ASAPS), chin augmentation (20%) and breast reduction (18%), were among the most sought after surgical procedures in the U.S. in 2018.
What is driving this market forward?
Growing Number of Licensed Medical Spas to Attract People to Undergo Cosmetic Procedures
A large and attractive aesthetic medicine industry operating globally has witnessed a boom in the number of patients undergoing surgical and non-surgical cosmetic procedures. This has led to a significant increase in the number of FDA approved and licensed medical spas in various countries. Increase in the number of medical spas offering diverse portfolio of procedures, has led to an intense price competition further leading to decline in the prices of cosmetic procedures. According to the American Med Spa Association (AmSpa), the number of medical spas in the U.S., grew approximately by 50% during 2016 to 2018. In 2018, the country had an estimated 4,200 operating licensed medical spas.
The emergence of medical spas has also been favourable for the market, where these providers have been adopting advanced instruments and products to offer at par services to their customers. These conditions have been conducive to the growth of the market. There has been a significant increase in the number of patients undergoing aesthetic procedures globally, owing to a decline in prices and improved access to healthcare professionals and services.
Availability of Technologically Advanced Products to Boost the Demand for Non-Surgical Cosmetic Procedures Globally
We bring you this information because we are also a news source. We follow cosmetic surgery business trends worldwide and many of our readers are cosmetic surgery analysts. This is a great report which we found in the ever-authoritative site the scarlet.