The Future of Cosmetic Surgery Market and It's Industry Overview- 2031

Posted by Sanyukta K on August 1st, 2022

Technological innovations in cosmetic procedures have boosted the acceptance of cosmetic surgeries across the globe. Reportedly, countries such as South Korea, the UK, Australia, and the U.S. have witnessed a rise in the number of cosmetic surgeries. As per the report published by Allied Market Research, the global cosmetic surgery market is set to garner earnings worth about 1.0 billion by 2031. The rise in stress-related cosmetic treatments, virtual skin consultations, and skin care therapies has resulted in the massive popularity of cosmetic surgeries in the post-pandemic period. Furthermore, an increase in approval of cosmetic surgical products by authorities such as the U.S. Food and Drug Administration will expand the scope of growth of the global cosmetic surgery market. In addition, advancements in cosmetic surgical procedures such as VASER Liposuction and J-Plasma Skin Tightening will drive the market trends.

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Key players in the global cosmetic surgery market are implementing strategies such as the launch of new products and technologies for effectively treating burns, scars, birth defects, and disorders of the skin. Moreover, strategic partnerships have helped market players in delivering high-quality diagnostic solutions and effective treatment for cosmetic, reconstructive, plastic, and aesthetic surgeries. This, in turn, will open new growth avenues for the global cosmetic surgery market. In addition, the investment strategy has proved profitable for market players as it has assisted them in expanding their customer base across the globe along with adding to their product and technology portfolios.

The business strategy has also helped the industry participants in creating a value proposition for their products and technologies along with enhancing the positioning of their products and technologies. Following are some of the key trends witnessed across the global cosmetic surgery market.

The new technology is utilized in subcutaneous skin and aesthetic procedures for enhancing lax skin appearance on the neck and submental area. Reportedly, the U.S. Food and Drug Administration has approved the use of the technology in dermatological and aesthetic procedures. The strategic move will help improve the loose skin of individuals on the neck and submental area. Moreover, the patented technology of Apyx Medical Corporation will provide the best alternative in cosmetic surgery for neck laxity methods. Launching new campaigns, services, and technologies will open new vistas of growth for the cosmetic surgery market across the globe. Evolus, Inc., a performance beauty firm with a focus on a consumer-centric approach, introduced the ‘Switch Your Tox and Love Evolus Forever’ Campaign. The move is aimed at encouraging customers to use Jeuveau®, a cosmetic product manufactured by Evolus, for improving looks. Furthermore, Apyx Medical Corporation, an advanced energy technology firm launching new products in cosmetic and surgical domains, launched Renuvion®, a helium plasma and radiofrequency technology.

Continuing with the trends of the launching of new campaigns, services, and technologies, Reveal Lasers, LLC, a leader in innovating new minimally invasive cosmetic surgeries, launched VegaPROTM. The new technology makes use of a dual laser diode and radiofrequency hair removal tool for removing hair from the skin. Reportedly, it makes use of painless therapeutic heat for providing smooth outcomes for individuals. Furthermore, Reveal Lasers also introduced AuraTM, Deep Fractional RF equipment, which reduces pores on the face along with tightening the skin. Moreover, the equipment also minimizes scar appearance and stretch marks on the face and restores the elasticity of the skin causing less discomfort during full face therapy. Furthermore, Cynosure, Inc., a leading manufacturer of light-based aesthetic treatment technologies, launched the Smartlipo procedure. The Smartlipo is the laser body sculpting technique that helps in minimally invasive surgical removal of unwanted fat from the human body.

Strategic partnerships have played an active role in influencing the growth of the global personal care and cosmetics industry. It is predicted to lucratively impact the expansion of the global cosmetic surgery market. Jeevandeep Hospital, an Indian hospital, and Max Hospital, a multispecialty healthcare center based in India, joined hands for providing outpatient department services for reconstructive and plastic surgeries. The strategic move will help in delivering high-quality diagnostic solutions and treatment for tertiary specialties including plastic, cosmetic, reconstructive, and aesthetic surgeries. Moreover, Inovatec Systems, a key cloud-based software solution provider based in Canada, signed a partnership agreement with Beautifi, a major Canadian financer of cosmetic procedures. As per the agreement, Inovatec will offer cost-effective financing options for cosmetic surgeries and treatments for the people in Canada.

Glamyo Health, a leading secondary care surgery provider in India, received nearly million in a Series A round of funding led by Ananta Capital. Furthermore, firms such as Udtara Ventures and Agility Ventures also participated in the Series A funding round. The strategic move is aimed at providing high-quality surgical care to people at reasonable costs. Securing investments is one of the major trends witnessed in the global cosmetic surgery market as the industry players are coining new ways of marking their presence across the globe.

In addition, Westcove Partners LLC, a highly specialized investment bank, formed a partnership with Advanced Reconstructive Surgery Alliance, a portfolio firm of Webster Equity Partners. The strategic move helped Westcove Partners act as a financial advisor to Midwest Breast and Aesthetic Surgery, Inc. Reportedly, Midwest is one of the major providers of reconstructive and cosmetic surgeries of breast and body contouring in the U.S. Moreover, market players are adopting new business strategies for expanding their consumer base and contributing significantly to the global market proceeds.