Plastic Surgery Devices Market Expected to Reach $3.1 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Plastic Surgery Devices Market," The global plastic surgery devices market size was valued at $1,420.0 million in 2021, and is projected to reach $3,056.8 million by 2031, registering a CAGR of 8.0% from 2022 to 2031.Plastic surgery is a branch of medicine where a person chooses to have an operation or invasive medical procedure to change one’s physical appearance for aesthetic rather than medical reason. Plastic surgery means redesigning the body’s contour and shape, smoothing wrinkles, or eliminating balding areas.

According to report share by American Academy of Facial Plastic and Reconstructive Surgery (AAFPRS) in February 2022, total number of surgical and non-surgical procedures is up to 1.4 million in year 2021, and have increased by 40% since 2020.Factors that drive growth of the plastic surgery devices market includes increase in number of cosmetic procedures.

The plastic surgery devices market analysis further include rise in geriatric population which anticipated to drive the demand for plastic surgery devices. Plastic surgery devices are used on aged hands and sagging skin in geriatric population for skin resurfacing and reduction of wrinkles. Thus, rise in number of geriatric populations increases the demand for plastic surgery devices for treatment, which drives the market growth. Increase in number of licensed medical centers fuels the growth of plastic surgery devices market. The reason behind increasing number of medical centers is attributed to increase in demand of invasive minimally treatment among young population. Rise in skin damage and changes in lifestyle are the major factors that lead to surge in number of medical spas. Moreover, rise in need among the young population regarding proper physical appearance and increase in awareness regarding different facial aesthetic treatments among the female population are anticipated to propel the growth of the plastic surgery devices market.

The global plastic surgery devices market share is segmented based on type, application, end user, and region. On the basis of type, the market is classified into handheld and electrosurgical. The handheld segment dominated the market in 2021, and is expected to continue this trend during the plastic surgery devices market forecast period, owing to increase in the number of product launches for electrosurgical instruments and high presence of plastic surgery devices industry who manufacture electrosurgical instruments. On the basis of application, the market is classified into aesthetic surgery and reconstructive surgery. The aesthetic surgery segment dominated the market in 2021, and is expected to continue the plastic surgery devices market trends during the forecast period, owing to technological advancement in aesthetic and plastic surgery sector and increase in awareness among people regarding aesthetic appearance.On the basis of end user, the market is classified into ambulatory surgical facility, hospital & clinics, and cosmetic surgical centers.

The hospitals & clinics segment dominated the plastic surgery devices market size in 2021, and is expected to continue this trend during the forecast period, owing to increase in the number of hospitals and rise in the expenditure by government to develop healthcare infrastructure.North America accounted for a majority of the global plastic surgery devices market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to advancement in technology to develop plastic surgery devices and high presence of plastic surgery devices industry. Asia-Pacific is anticipated to witness lucrative growth, owing to rise in geriatric population and increase in the number of plastic surgery procedures.

The COVID-19 outbreak is anticipated to have a negative impact on the growth of the global plastic surgery devices market. Plastic surgery procedures are non-emergency procedures that significantly hampered revenue of aesthetic companies. In addition, sudden sharp cut in monthly income of people is anticipated to have a negative impact on the plastic surgery devices market.

Key Findings of the Study

• By type, the handheld segment was the highest contributor to the market in 2021.
• As per application, the aesthetic surgery segment dominated the market in 2021, and is expected to continue this trend during the forecast period.
• According to end user, the hospitals and clinics segment dominated the market in 2021, and is expected to continue this trend during the forecast period.
• Depending on region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.