Cosmetic procedures
include elective surgical as well as nonsurgical procedures performed
to reshape normal structures of the body. These procedures and
cosmetic products are carried out to improve appearance of an
individual thereby boosting self-confidence and self-esteem. The
global market for cosmetic procedures and products is expanding both
in terms of value and number of procedures performed annually.
Several industry experts quote that ageing population, growing
acceptance of cosmetic surgery, and interest of people for aesthetic
reasons are the prime factors responsible for the market growth.
The Global
Cosmetic
Procedures
And
Products
Market
is segmented into two major segments, namely, surgical procedures and
nonsurgical procedures. Major surgical cosmetic procedures include
breast augmentation, lipoplasty (liposuction), blepharoplasty
(cosmetic eyelid surgery), abdominoplasty, (tummy tuck), breast lift,
gynecomastia treatment, otoplasty (cosmetic ear surgery) and breast
reduction. Breast augmentation and the lipoplasty (liposuction) have
been the top two popular cosmetic surgical procedures. The FDA’s
decision in 2006 to reintroduce silicone gel breast implants in the
market has improved the number of breast augmentation procedures over
the years. These procedures are comparatively costlier than the
nonsurgical cosmetic procedures and therefore rely on the insurance
coverage. Hence, the market was affected to some extent due to
financial uncertainty during economic crisis of 2009. However, the
resurging economy is expected to the market again and will help in
growth of overall cosmetic procedures and products market.
Non surgical
cosmetic procedures include cosmetic injectables, skin rejuvenation
and other procedures such as laser hair removal, sclerotherapy, and
laser treatment of leg veins. Globally, the injectable cosmetics
constitute major share in the nonsurgical segment and include
botulinum toxin type A (Botox and Dysport), calcium hydroxyapetite
(Radiesse), collagen, hyaluronic acid (Hylaform, Juvederm,
Perlane/Restylane) and poly-l-lactic acid (Sculptra). Skin
rejuvenation procedures include chemical peel, dermabrasion, fraxel,
intense pulsed light (IPL) laser treatment, and noninvasive
tightening.
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The Americas and
Europe have always been the main market for these cosmetic procedures
and products over the years. These two geographies are youth-focused
and more emphasis is on aesthetic looks of an individual.
Additionally, the technological advancements in the medicine and
surgery field are enabling surgeries to be non-invasive and less
painful which is driving the market to further level. The American
Society for Aesthetic Plastic Surgery reported that in 2010 Americans
spent approximately USD 10.7 billion on cosmetic procedures of which
more than 60 percent was contributed by surgical procedures. However,
it is imperative to mention here that number nonsurgical procedures
carried out annually are far more than the surgical procedures, but
are less in terms of value (money spent). Furthermore, the number of
women who opt for cosmetic procedures, have always outnumbered the
number of men who choose these procedures. However, the dynamics of
the market are changing these days with more men adopting cosmetic
treatments for reasons such as high degree of competition at
workplace, and growing awareness about obesity. The cosmetic surgical
procedures for men include gynecomastia treatments, breast reduction,
male facelifts, male brow lifts, and male tummy tucks.
Some of the Major
Companies in the global cosmetic
procedures and products market are Allergan, Inc., DermaMed USA,
Fascia Biosystems, LLC, Genzyme Corporation, ExcellaDerm Corporation,
Medicis Pharmaceutical Corporation, Suneva Medical Inc., BioForm
Medical, Inc., Johnson & Johnson, Cutera, Inc., Q-Med AB, Dermik
Laboratories, Genesis Biosystems, Inc., IRIDEX Corporation, Lumenis
Ltd., Candela Corporation, Anika Therapeutics, Inc., Mentor
Corporation, Palomar Medical Technologies, Inc., Cynosure, Inc.,
Solta Medical, Inc., among others.
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