According to IMARC Group's latest research report, titled "Cosmetic Surgery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," presents a comprehensive analysis of the industry, covering cosmetic surgery market size, share, trends, demand, and growth prospects. The report also provides competitor and regional analysis and showcases the contemporary advancements in the global market.
The global cosmetic surgery market size reached US$ 72.94 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 136.8 Billion by 2028, exhibiting a growth rate (CAGR) of 11.13% during 2023-2028.
Cosmetic surgery, or plastic surgery, involves surgical procedures specifically designed to enhance physical appearance by altering or reshaping various body parts such as the face, breasts, and abdomen. The procedures typically involve either making incisions and reshaping or removing tissue, or adding materials to enhance the appearance of body parts, particularly in breast augmentation or facelifts. Cosmetic surgery, which is typically an elective procedure performed on an outpatient basis, is usually conducted by plastic surgeons who have specialized training in this domain. The major purpose of cosmetic surgery is to enhance a person's physical appearance and boosting their self-confidence by reducing signs of aging, correcting defects, and improving the size or shape of body parts. Additionally, it provides restorative solutions for individuals who have suffered injuries or accidents, thereby reinstating their appearance.
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The global market is primarily driven by the rising beauty consciousness along with shifting preference towards self-improvement among individuals. This can be attributed to the growing influence of social media and celebrity culture among the younger population and the growing societal pressure to comply with certain beauty standards. In line with this, continual technological advancements in surgical techniques and equipment, such as the advent of painless and minimally invasive procedures are resulting in a higher adoption of these procedures. Moreover, the inflating disposable income levels of the masses resulting in higher investments in cosmetic procedures for self-enhancement is also acting as a significant growth-inducing factor for the market. Additionally, the growing demand for cosmetic procedures to counteract the signs of aging, such as wrinkles, fine lines, and sagging skin among the geriatric population is creating lucrative growth opportunities in the market. Some of the other factors contributing to the market include rapid urbanization, considerable rise in medical tourism, rising popularity of non-invasive and minimally invasive surgeries, and the rising availability of various financing options.
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