We take a closer look at the plastic surgery instruments market size, share, trends, industry analysis 2025 that is expected to reach USD 8.8 billion by 2025
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What is the Plastic Surgery Equipment market size?
The global plastic surgery market is growing rapidly. Experts estimate the market volume to be around $34 billion by 2021. This expected growth can be attributed to rising levels of awareness and demand in developing countries as well as the medical community’s increased focus on cosmetic surgeries. Asia, primarily China and Japan are emerging markets for better aesthetics. Unprecedented rates of growth are seen in high-income countries where an increasing number of middle-class customers are opting for procedures when previous stigma was associated with the demographic.
Market Share Analysis
Plastic surgery industry is growing rapidly every year. This growth is attributed to changing preference of people and prolonged longevity of people. From the year 2011 to 2108, plastic surgery industry has experienced a 45% CAGR. Despite this increase, new market entrants are reducing its market share every year. The number of regulated hospitals for cosmetic surgery in 2016 was 33, which has been put on record by Grand View Research Reports, “US Plastic Surgery Instruments Market Size, Share and Trends Analysis Report”
Industry Outlook 2025
The global plastic surgery instruments market is projected to reach US$6.36 billion by 2025, registering a compound annual growth rate (CAGR) of 5.29% during the forecast period.
The Maturation of the Market
In recent years, professionals from plastic surgery have turned to instruments like the PRONEA (precision retraction system) and the LESS
(liposculpture extraction system) to make their procedures more accessible. These two assistive instruments are relatively new, but they have rapidly proliferated over the last few decades. The popularity of the PRONEA increased dramatically in Europe and North America during 2005-2006 due to advancements in innovation.
Several industry experts interviewed felt the introduction of modern plastic surgery technologies had significantly increased the demand for instruments in recent years. According to Gudmundsson et al., the decision making process for physicians and surgeons for plastic surgery technologies is heavily incentivized by a number on established suppliers who offer discounted prices on their latest models simultaneously with costly trade-in programs.”