ID: MRFR/MED/4467-CR | 132 Pages | Published By Rahul Gotadki on August 2021
The minimally invasive cosmetic procedures market is expected to cross USD 8,400.33 million by 2027 at a CAGR of 8.68% during the forecast period of 2021–2027.
The minimally invasive cosmetic procedures market is expected to cross USD 8,400.33 million by 2027 at a CAGR of 8.68% during the forecast period of 2021–2027.
Minimally invasive surgeries are carried out by making small incisions on body instead of large opening. Quick recovery and less pain are some of the features of minimally invasive surgery. These benefits associated with minimally invasive surgery are expected to increase demand for it. Adrenalectomy, anti-reflux surgery, colectomy are some of the examples where minimally invasive surgery helps patients recover quicker with less scarring and by avoiding surgical site infections.
The minimally invasive cosmetic procedures market is mainly driven by the increasing demand for minimally invasive cosmetic surgery,the growing medical tourism industry,rising healthcare expenditures, and effective marketing strategies by key players. The rising number of product launches and approvals is also driving the growth of the minimally invasive cosmetic procedures market. However, unfavorable reimbursement scenarios and the complications related to cosmetic procedures are expected to restrict the minimally invasive cosmetic procedures market growth during the forecast period.
The COVID-19 has impacted the minimally invasive cosmetic procedures market by delaying the availability of necessary cosmetic procedures, thereby creating a huge demand for products and services. Furthermore, according to the American Society of Plastic Surgeons (ASPS) national survey, during the COVID-19 pandemic, 11% of women surveyed indicated that they were more interested in cosmetic plastic surgery or non-surgical procedures in comparison to the time before COVID-19. In addition, 24% of women who have already had surgery or a procedure were interested in pursuing cosmetic procedures. Additionally, the ASPS board-certified plastic surgeons reported that they had stopped doing elective surgical procedures for an average of 8.1 weeks in 2020 due to COVID-19. This severely impacted the market resulting in a decline in the total number of procedures performed in 2020. For instance, according to ASPS, an overall 15% decrease was observed in the cosmetic procedures in 2020 due to the COVID-19 pandemic.
According to the International Society of Aesthetic Plastic Surgery (ISAPS), there was a 27.3% growth in worldwide total non-surgical procedures between 2015 and 2019. In addition, according to the ASPS, the number of minimally invasive procedures witnessed about a 200% increase during 2000–2017. Moreover, about 15.9 million minimally invasive cosmetic procedures were performed in 2018, a 2% rise compared to 2017. This steady increase in demand for minimally invasive cosmetic procedures drives the growth of the minimally invasive cosmetic procedures market.
In the US, there have been several cases where doctors not certified by the American Board of Medical Specialties (ABMS) and non-ACGME-trained (Accreditation Council for Graduate Medical Education) physicians have been found to do the procedures that plastic surgeons have been trained and certified to do. Thus, the lack of regulations hampers the minimally invasive cosmetic procedures market growth.
Increased adoption of minimally invasive cosmetic procedures in emerging economies can be credited to the increasing popularity of cosmetic procedures and increasing disposable income. For instance, according to the ISAPS, the list of top 30 countries ranked by the estimated number of plastic surgeons contains several emerging countries, including India, Argentina, Venezuela, Thailand, Saudi Arabia, etc. According to the ISAPS, in 2018, India accounted for about 505,103 total non-surgical procedures and about 249,024 total non-surgical procedures in 2019. Thus, the high adoption of minimally invasive cosmetic procedures in emerging economies is anticipated to provide significant growth opportunities for the minimally invasive cosmetic procedures market.
Global Minimally Invasive Cosmetic Procedures Market Share (%), by Products, 2020Source: MRFR Analysis
Value Chain Analysis
The value chain analysis of the minimally invasive cosmetic procedures market comprises major components starting from R&D followed by manufacturing the products, distribution, and sales and ends with post-sales services.
The key market players focus on incorporating innovations in their current techniques to keep any discrepancies at bay. Similarly, the leading associations are framing regulations looking at the lack of standardized norms globally. For instance, in February 2021, University College London decided to offer a comprehensive Master of Surgery(Aesthetics Surgery and MinimallyInvasive Aesthetics)program from September 2021 for training cosmetic surgeons.
The minimally invasive cosmetic procedures market has been divided based on products, procedures, application, and end user.
On the basis of products, the minimally invasive cosmetic procedures market is divided into hair removal lasers, botulinum toxins, microdermabrasion products, and others.The botulinum toxins segmentis expected to register a CAGR of 9.82% from 2021 to 2027.
The hair removal lasers segment is further segmented into Neodymium-doped Yttrium Aluminum Garnet (Nd: YAG) laser, diode lasers, and others.Hair removal is one of the most applicable cosmetic procedures carried out across the globe. The hair removal devices are utilized to treat legs, upper lip, chin, bikini line, and armpits.
The botulinum toxins segment is further divided into OnabotulinumtoxinA A, Incobotulinumtoxin A, Rimabotulinumtoxin B,and others. An increasing utility of botulinum toxins in various cosmetic procedures is anticipated to support the exponential growth of this segment.
Microdermabrasion products are the minimally invasive instrument used to sand the uneven layer of skin and remove the old, damaged skin and rejuvenate the skin tone and texture.These products are particularly used to treat stretch marks, dull skin, acne scars, wrinkles, melasma, and sun damage. This segment includes microdermabrasion tips, microdermabrasion crystals, microdermabrasion creams, scrubs, and other products.
The others segment includes micro-needling products, fruit acids, platelet-rich-plasma, radiofrequency skin tightening wrinkle removal rejuvenation machine, and cellulite treatment products.
On the basis of procedures, the minimally invasive cosmetic procedures market is segmented into botulinum toxins, soft tissue fillers, chemical peel, laser hair removal, microdermabrasion, and others.The botulinum toxinssegment accounts for the largest share and is anticipated to reach USD2,382.93 million by 2027.
Botulinum toxins account for the largest share due to theirincreasing utility for treating various applications such as 'crow's feet near eyes, frown lines, jaw muscles, lip lines, neck and forehead creases. It is also useful in treatingoveractive bladder, excessive underarm sweating, chronic migraines, and lower limb spasticity.
Soft tissue fillers are minimally invasive treatment injectable implants that offer a smoother or fuller appearance on the face. These fillers produce a temporary youthful appearance. The administration of soft tissue fillers offers plump lips, smoothens facial wrinkles, fills and uplifts the deep facial contours, and improves the facial scars caused due to injury and acne.
A chemical peel is a treatment procedure that revamps the skin texture by exfoliating the outer layer of skin. The skin is treated with exfoliant acid that eliminates the damaged cells from the treated area. This technique is utilized for treating wrinkles, scars, and discolored skin. Furthermore, such procedures are carried out to cure acne, enlarged pores, redness, scarring, rosacea, and hyperpigmentation.
Laser hair removal is a cosmetic treatment carried out frequently to remove unwanted hair from the body by destroying hair follicles. The laser targets the pigment in individual hairs, and the heat generated from the laser light travels through the shaft to the hair follicle and destroys it. The treatment alters the hair's growth cycle, and hence the hair's growth is further restricted.
Microdermabrasion is a cosmetic skin treatment aimed at rubbing off and exfoliating outermost dead and damaged cells from the face. The external layers of the skin are detached using a fine abrasive instrument that levels the uneven outer layer. This procedure recovers age spots and blackheads, improves hyperpigmentation, provides a fresh appearance, reduces the appearance of stretch marks, minimizes the facial lines and wrinkles, reduces the enlarged pores, and cures scars left by acne.
Other types of minimally invasive cosmetic procedures include skin rejuvenation, resurfacing tattoo removal, and others. Tattoo removal is one of the emerging cosmetic procedures, and it can be carried out using different techniques.
On the basis of application, the minimally invasive cosmetic procedures market has been segmented into acne, trauma scars, hyperpigmentation, adipose tissue regeneration, etc. The acne segment dominated the market in 2020 and is projected to be the fastest-growing segment, owing to the increasing prevalence of acne globally.
Acne specifically occurs in adolescents and young adults. Minimally cosmetic procedures used to treat acne include intense pulsed light treatment, microdermabrasion, laser treatment, micro-needling, chemical peel treatment, and dermal filler treatment.
Trauma scars are the patches or scars that are left over after the healing of the injured skin.They are cured using different treatment procedures, including intense pulsed light treatment, laser treatment, radiofrequency, and ultrasound treatment.
Hyperpigmentation is a medical condition in which excessive pigmentation saturation of pigment is observed in the skin.The cosmetic procedures frequently used to treat hyperpigmentation include microdermabrasion, laser therapy, chemical peels, and intense pulsed light treatment.
Adipose tissue is highly regenerative and has a significant healing property. Hence, it is used to treat the injured and damaged area of the individual. The mesenchymal cells are administered in the affected area through the minimal incision and are allowed to regenerate within a stipulated time.
The others segment consists of applications such as cool sculpting, a minimally invasive contouring treatment that is processed to attain the desired physique.
By End User
On the basis of end user, the minimally invasive cosmetic procedures market is divided into hospitals, dermatology clinics, and others. The hospitals segment accounted for the largest market share due to the increasing installation of advanced treatment devices in hospitals.
Hospitals in developed regions are hospitals establishing cosmetic departments to deal with minimal cosmetic treatment.Moreover, the demand for cosmetic procedures is increasing due to installing advanced treatment devices in hospitals.
Dermatology & cosmetic centers are the first addressable points for patients suffering from various dermal conditions such as photodamage, acne, hyperpigmentation, and others. The number of dermatology & cosmetic centers is increasing due to the rising demand for skincare services.
The others segment consists of salons, spas, etc. The modern medical spa provides cosmetic treatments such as dermabrasion, dermal fillers, laser hair removal, liposuction, micro-needling, and scar revision.
Global Minimally Invasive Cosmetic Procedures Market Share (%), by Region, 2020Source: MRFR Analysis
The minimally invasive cosmetic procedures market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World.
North America accounted for a market share of 34.0% in 2020 and is expected to exhibit a CAGR of 9.18% during the forecast period. Thishigh proportion of the market share of North America can be attributed to the high popularity of cosmetic procedures and the presence of a high number of cosmetic surgeons in the region. As per the ISAPS, in 2019, there were about more than 6,900 practicing plastic surgeons in the US. This accounts for about 13.7% of the global number of surgeons and is the highest compared to all other countries.
Europe is expected to exhibit a CAGR of 7.90% during the forecast period. Europe is anticipated to witness significant growth during the forecast period due to a higher number of patients, the increasing popularity of minimally invasive cosmetic procedures, and the presence of key companies in the region. According to ISAPS, Italy, Germany, and France accounted for the highest non-surgical procedures in the region in 2019.
Asia-Pacific is estimated to be the fastest-growing minimally invasive cosmetic procedures market. This can be attributed to the increasing cosmetic expenditures and growing demand for aesthetic procedures within the region.Moreover, the high percentage of the old-age population in this region is driving the minimally invasive cosmetic procedures market.
Rest of the World:
The Rest of the World minimally invasive cosmetic procedures market is segmented into major regions, namely the Middle East, Africa, and Latin America. A majority of the regional market share is estimated to be held by Latin America and the Middle East. Countries such as Brazil are driving the market in the Latin American region. According to ISAPS, in 2019, Brazil had one of the highest percentages of surgical cosmetic procedures (13.1%), and non-surgical cosmetics procedures increased by 28%. Brazil was also placed in the second spot after the US out of the top 10 countries in the survey.
The minimally invasive cosmetic procedures market is profitable, both for existing players as well as new entrants. A substantial level of rivalry is observed among the existing manufacturers in the market. Our analysis revealed that market players had adopted different strategies and innovative research and development techniques to expand their business and secure their global minimally invasive cosmetic procedures market position. For instance, in April 2021, Cynosure(US) entered an agreement to acquire the MyEllevate’s(US) Surgical Suture System, expanding the company's portfolio of minimally invasive facial rejuvenation solutions.Acquiring MyEllevate will broaden Cynosure's already extensive surgical product portfolio, enabling it to offer this ground-breaking procedure combined with other energy-based skin tightening technologies for optimal, long-lasting results.Furthermore, the manufacturers are expected to increase their product launch activities with an increasing number of hospitals and clinics providing minimally invasive cosmetic procedures.
List of Key Companies Covered in this report:
The study covers the existing short-term and long-term market effects, helping decision-makers to draught short-term and long-term plans for businesses by region. The report covers major regions in North America, Europe, Asia-Pacific, and the Rest of the World. The report analyzes market drivers, restraints, opportunities, challenges, Porter's five forces, value chain, and impact of COVID-19 on the market.
Scope of the Report & Segmentation
Minimally Invasive Cosmetic Procedures Market, by Products
Minimally Invasive Cosmetic Procedures Market, by Procedures
Minimally Invasive Cosmetic Procedures Market, by Application
Minimally Invasive Cosmetic Procedures Market, by End User
Minimally invasive cosmetic procedures market, by Region
|Market Size||2027: USD 8,400.33 Million|
|Historical Data||2018 & 2019|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Products, Procedures, Application, End User, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, Rest of the World|
|Key Vendors||• AbbVie Inc (US) • The Procter & Gamble Company (US) • Koninklijke Philips NV (Netherlands) • Altair Instruments (US) • Silhouet-Tone Corporation (Canada) • Advanced Microderm Inc. (US) • Dermaglow (US) • New Shining Image LLC (US) • Lasertec Medical Services (Ireland) • Cutera, Inc. (US)|
|Key Market Opportunities||• Growing adoption of minimally invasive cosmetic procedures|
|Key Market Drivers||• Increasing adoption of minimally invasive cosmetic procedures • Rising healthcare expenditures and marketing strategies by key players • Growing medical tourism industry|