LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global cosmetic surgery market provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Amber Chourasia, a lead analyst from Technavio, specializing in research on health and wellness sector, says, “The substantial increase in number of cosmetic procedures performed in the recent years indicates that surgical as well as non-surgical procedures are increasingly being perceived as conventional procedures, rather than anything extraordinary, for changing one’s appearance.”
Liposuction has been popular for years now. At present, non-invasive techniques such as laser assisted liposuction are gaining traction owing to benefits such as the ability to stimulate the production of collagen and elastin, resulting in tighter and smoother skin. This procedure also encourages coagulation of small blood vessels at the areas of application causing less bruising. The global laser assisted liposuction market was valued at USD 818.2 million in 2015 and will reach USD 1,241.5 million by 2020, growing at a CAGR of 8.70%.
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The top four emerging trends driving the global cosmetic surgery market according to Technavio research analysts are:
- Rise in adoption of cosmetic procedures among men
- Rise in medical tourism
- Emergence of combination treatments
- Advances in technology
Rise in adoption of cosmetic procedures among men
“Cosmetic surgery has become popular with the male population and will considerably escalate in the coming years. There has been a dramatic increase in both surgical and nonsurgical options over the past five years and a 43% increase overall,” adds Amber.
The increased demand for cosmetic surgery among men is because of the increasing desire to look youthful. Male cosmetic surgery clients have increased by 327% since 1997, and in 2015, about 10% of the procedures in the US were done on men. Social media has a major role to play in this trend, and so do TV shows such as Botched, which show results of these procedures.
Rise in medical tourism
In developing countries, high-quality treatment can be availed at a lower cost than in the advanced nations. This factor results in the influx of people into these countries to avail health services. It is estimated that around 34% of medical tourists travelled for cosmetic surgery.
Cosmetic surgeries, such as breast augmentation, are not covered by insurance in most of the countries in North America and Europe and this is one of the main reason for the people travelling abroad. People from the US prefer to travel to Brazil, Mexico, Costa Rica, and Panama for cosmetic surgery due to their proximity, and to Malaysia, Singapore, Hungary, and India due to the low cost of treatments, improved medical infrastructure, and high skilled doctors.
Emergence of combination treatments
Surgeons started adopting a combination of surgical and non-surgical procedures to provide more comprehensive results. Many surgeons have started using a mixture of treatments such as Sculptra Aesthetic, cheek lift surgery, and other dermal fillers for acquiring the desired outcome. This combination of treatments may also help in increasing the efficacy for a long-period. Also, the grouping of dermal fillers, energy-based devices, neurotoxins, and less invasive surgeries, customized to specific requirements of each patient, yield better result compared to a single treatment option.
The surgeons are also offering these packages at a comparatively lower price which further lures the consumer. Aesthetic clinics across the world have started adopting this strategy to increase customer satisfaction. However, more research and enough clinical evidence are further required for increasing the adoption rates of combination treatment globally.
Advances in technology
Vendors are continuously investing in R&D to come up with new solutions. For instance, medical laser technology such as transdermal focused ultrasound, low-level laser, high intensity focused ultrasound, and monopolar RF have gained popularity in non-invasive methods of fat reduction. Recent advances have enabled generating high-efficiency beams of medical use.
Also, laser-based technologies such as Thermicon address consumer concerns about the limitations of the currently available hair removal products including pain and safety.
Vendors have also come up with advanced collagen-based materials such as bovine collagen and bioengineered human collagen that contain lidocaine as dermal fillers. The use of lidocaine can reduce ecchymosis and edema by inhibiting the activation of eosinophils, thus reducing the risk of bruising.
The top vendors are as follows:
- Allergan
- Cynosure
- Merz Pharma
- Galderma
- Valeant Pharmaceuticals
Browse Related Reports:
- Global Plastic Surgery Products Market 2016-2020
- Global Facial Aesthetics Market 2016-2020
- Global Non-invasive Fat Reduction Market 2016-2020
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