Cosmetic Implants Market Size

Cosmetic Implants Market Analysis

The Cosmetic Implants Market size is estimated at USD 11.86 billion in 2024, and is expected to reach USD 17 billion by 2029, growing at a CAGR of 7.49% during the forecast period (2024-2029).

The healthcare system witnessed enormous challenges as a result of the COVID-19 pandemic. All elective and aesthetic procedures were postponed or restricted during the COVID-19 pandemic to reduce the risk of viral transmission, as most of these procedures were regarded as non-urgent. There was a decrease in the number of aesthetic procedures performed worldwide during the COVID-19 pandemic. For instance, according to the International Society of Aesthetic Plastic Surgery 2021 report, in the year 2020, over 24,529,875 cosmetic procedures were performed, while 24,982,304 cosmetic procedures were performed in the previous year. The reduction in the number of procedures performed was mainly attributed to the fear of the risk of infection and the allotment of medical resources towards COVID-19 management. However, the market is gradually stabilizing as COVID-19 cases are declining, resulting in the return of the normal demand levels for cosmetic procedures. For instance, according to an article published by the American Society of Plastic Surgeons, in April 2021, 11% of women surveyed indicated they are more interested in cosmetic plastic surgery now than before COVID-19, and the figure is even higher among women who have already had surgery or a procedure by 24%. Also, 35% of women who have previously had at least one cosmetic surgical procedure or minimally invasive procedure plan to spend significantly or somewhat more on treatments in 2021 than in 2020. Thus, an increase in cosmetic procedures is expected to impact the cosmetic implant market over the forecast period significantly.

Increasing demand for cosmetic implants, the introduction of new and innovative technologies, and increased awareness about aesthetic appearance are the major factors attributed to the growth of the cosmetic implant market over the forecast period. For instance, in April 2022, the Aesthetic Society released its annual Aesthetic Plastic Surgery Statistics, which stated that 148,000 women had implants removed and replaced. Additionally, as per Breast and Cosmetic Implant Registry - January to December 2021, the breast implant operations recorded were 11,735 in England, out of which 2,375 were reconstruction, 3080 were replacement, and 25 were repositioning. Hence, the high number of implant procedures being performed worldwide is expected to boost the segment's growth. Additionally, according to an article published in the Journal of Clinical and Aesthetic Dermatology in December 2021, there has been an increasing acceptance of cosmetic procedures in the middle eastern region, with a growing interest in skin and nasal procedures. The rising interest is expected to add to the growth of the cosmetic implant market over the forecast period.

The recent product launches by the key market players are also aiding the market growth. For instance, in May 2021, GC Aesthetics, Inc., a privately-held medical technology company providing aesthetic solutions, launched its next generation of breast implants, PERLE. Thus, the recent product launches add to the growth of the market segment.

Hence as per the aforementioned factors, the cosmetic implants market is likely to grow over the forecast period. However, the high cost of these medical implants restrains the market growth.