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 cosmetic surgery focuses on body improvement, whereas plastic surgery reconstructs damaged tissues caused due to burns or trauma.
The most common procedures performed on women are breast augmentation (silicone implants), liposuction, eyelid surgery, abdominoplasty, and breast lift. Furthermore, an increase in the number of road accidents, aging population, and healthcare spending in emerging economies are a few of the factors likely to boost plastic surgeries during the forecast period.
However, the side effects of the surgery, mainly in patients with a history of diabetes, cardiovascular disease, obesity are at risk. This may restrain the market growth in the forecast period.
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Key Market Trends
Handheld Surgical Instruments is Expected to Hold Largest Share in the Market
Handheld surgical instruments can be classified into forceps, retractors, graspers, auxiliary instruments, cutter instruments, elevators, chisels & gouges, cannulas, dissectors, and sutures & staplers.
Rising awareness about various surgical procedures, increasing the number of plastic surgeries, and technological advancement is factors driving the growth of the market over the forecast period.
According to American Society of Plastic Surgeons, 17.7 million cosmetic procedures took place in the year 2018, Breast augmentation continues to be the top cosmetic surgical procedure and has been since 2006, with 313,000 surgeries in 2018, a 4% increase from the past year. As per the statistics, the increasing number of surgeries boosts the plastic surgery instruments market.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall plastic surgery instruments market, throughout the forecast period. The market growth is due to factors such as the presence of key players, favorable reimbursement policies, and providing access to advanced devices for plastic surgery & training sessions for physicians.
In North America region, the United States holds the largest market share due to the factor such as increasing number of plastic surgeries and increasing awareness programs by trained and skilled dermatology professionals, maximum reimbursement coverage in the country. According to the American Society of Plastic Surgeons, in 2018, USD 16.5 billion was spent on cosmetic procedures in the United States, which clearly shows the market potential in the country.
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