Plastic Surgery Instruments Market Size

Plastic Surgery Instruments Market Analysis

The plastic surgery instruments market is expected to grow at a CAGR of 8.7% over the forecast period.

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 around the world during the COVID-19 pandemic. 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. Thus, the plastic surgery instruments market was significantly impacted during the COVID-19 pandemic. However, the market is expected to grow past the initial phase. For instance, in August 2022, an article published in the American Society of Plastic Surgeons stated that after the stress of the COVID-19 pandemic, a new national survey called the Inaugural ASPS Insights and Trends Report: Cosmetic Surgery 2022 finds many Americans are now investing in themselves through cosmetic procedures, despite an uncertain economy. The American Society of Plastic Surgeons polled member surgeons nationwide and found more than three-quarters of cosmetic-focused plastic surgery practices are seeing more business than before the pandemic, with nearly 30 percent reporting their business has at least doubled. Thus, with such factors, the market is expected to grow over the forecast period.

The major factor attributing to the growth of the market is the increased awareness of cosmetic procedures. The demand for cosmetic procedures is rising worldwide as cosmetic surgery focuses on body improvement, and plastic surgery reconstructs damaged tissues caused due to burns or trauma. 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 plastic surgery instruments market over the forecast period.

The adoption of minimally invasive procedures is positively affecting the revenue growth of the studied market. For instance, According to data from Aesthetic Society members using the Aesthetic Neural Network (ANN) data from January 1, 2021-July 1, 2021, Americans spent over USD 8.7 billion on aesthetic plastic surgery, while Americans spent over USD 3 billion on nonsurgical aesthetic procedures. Moreover, Non-surgical liposuction, also known as non-surgical fat removal (lipolysis), is a non-invasive process that destroys extra fat cells in the body using various modern technologies like lasers, heat, cooling, ultrasound, and radiofrequency. This is also creating demand for medical aesthetic devices. Moreover, the International Society of Plastic Surgery (ISAPS) conducted an international survey on cosmetic procedures in 2020. According to the data, approximately 85% of nonsurgical procedures were performed on women, among which 12.8% were hair removal procedures, accounting for 1,538,982 procedures. Therefore, the adoption of hair removal procedures is poised to accelerate the growth of the studied market.

However, the complications associated with aesthetic procedures, such as hematoma, scarring, blood loss, nerve damage, infection, deep vein thrombosis, seroma, and others, may restrain the market growth in the forecast period.