Plastic Surgery Instruments Industry Trends and Opportunity By 2026

Posted by Nicky Arora on March 2nd, 2020

The global plastic surgery instruments market size is expected to reach USD 1.9 billion by 2026, according to a new report by Grand View Research, Inc, exhibiting a CAGR of 8.8%. Increasing number of surgical procedures coupled with technological advancements is anticipated to drive the market. Moreover, increasing awareness about plastic or reconstructive surgeries and improving affordability of related healthcare services are expected to aid growth over the forecast period.

Several key players are investing on R&D to launch innovative products. Moreover, rise in disposable income, improvement of standard of living, high social media influence, and increase in awareness among people are some of the factors boosting the number of surgical procedures. Plastic and reconstructive surgeries are performed mainly to restore tissue function and improve the body’s appearance caused by trauma, burns, birth disorders, or any other disease.

According to WHO, 10 million people are injured or disabled due to road accidents every year, leading to extensive wound surgeries. This is expected to increase the number of plastic surgeries. The number of breast augmentation procedures has also increased by 4.3%, from 313,735 procedures in 2018 to 300,378 procedures in 2017. In addition, women with implants are also required to undergo additional surgeries due to complications such as leakage, scars, or shift of implants. High cost of implants coupled with rising demand is propelling demand for surgical instruments for breast procedures, thereby driving the overall market. Moreover, with rising healthcare expenditure in emerging economies, the number of plastic and cosmetic surgeries has increased to enhance aesthetic appeal, thus driving growth.

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Further key findings from the report suggest:

·         North America accounted for largest share owing to favorable reimbursement policies, presence of key local market players, and government initiatives

·         Asian countries are estimated to show the highest growth rate of over 12%, due to rising technological advancements, increasing investments, improving reimbursement scenario, and growing medical tourism

·         Handheld surgical instruments dominated the products segment with over 70% share in 2018 driven by easy availability and high use of these instruments in invasive and minimally invasive surgeries

Some of the key companies of plastic surgery instruments market are Sklar Surgical Instruments; Zimmer Biomet holdings, Inc.; B. Braun Melsungen AG; Blink Medical Ltd.; Bolton Surgical Ltd.; Integra Life Sciences; Karlz Storz; and Anthony Product, Inc.