The global plastic surgery instruments market size is expected to reach USD 1.9 billion by 2026, according to a new report by Grand View Research, Inc, exhibiting a CAGR of 8.8%. Increasing number of surgical procedures coupled with technological advancements is anticipated to drive the market. Moreover, increasing awareness about plastic or reconstructive surgeries and improving affordability of related healthcare services are expected to aid growth over the forecast period.
Several key players are investing on R&D to launch innovative products. Moreover, rise in disposable income, improvement of standard of living, high social media influence, and increase in awareness among people are some of the factors boosting the number of surgical procedures. Plastic and reconstructive surgeries are performed mainly to restore tissue function and improve the body’s appearance caused by trauma, burns, birth disorders, or any other disease.
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According to WHO, 10 million people are injured or disabled due to road accidents every year, leading to extensive wound surgeries. This is expected to increase the number of plastic surgeries. The number of breast augmentation procedures has also increased by 4.3%, from 313,735 procedures in 2018 to 300,378 procedures in 2017. In addition, women with implants are also required to undergo additional surgeries due to complications such as leakage, scars, or shift of implants. High cost of implants coupled with rising demand is propelling demand for surgical instruments for breast procedures, thereby driving the overall market. Moreover, with rising healthcare expenditure in emerging economies, the number of plastic and cosmetic surgeries has increased to enhance aesthetic appeal, thus driving growth.
Plastic surgeries are performed to restore tissue function and improve the body’s appearance in areas such as craniomaxillofacial, skin, hand, breast, musculoskeletal, and torso. The development of minimally invasive surgeries or less invasive surgeries has led to an increase in the number of surgeries being performed each year. According to the American Society of Plastic Surgeons, in 2015, 15.9 million minimally invasive cosmetic surgeries were performed in the U.S. In addition, increase in the number of road accidents, aging population, and healthcare expenditure in emerging economies are among factors likely to boost plastic surgeries during the forecast period. These factors are anticipated to positively impact revenue generation.
The demand for cosmetic procedures is growing globally due to women, and they accounted for more than 86% of cosmetic patients. Cosmetic surgery focuses on body enhancement, 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.
The rise in the number of minimally invasive cosmetic procedures that involve the usage of newer technologies, such as laser to remove the outer layer of the skin, is another driver. Laser surgery helps ameliorate fine lines, wrinkles, crow’s feet, and forehead creasing. Furthermore, eyelift surgery is one of the most commonly requested procedures, both by women and men.
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Plastic Surgery Instruments Market Share Insights:
Market players are undertaking strategic initiatives, such as product development, geographical expansion, launches, mergers, and acquisitions, due to the presence of significant opportunities in developing countries to increase market share. For instance, in March 2019, Zimmer Biomet Holdings, Inc. became the first company to obtain 510(k) clearance of ROSA ONE Spine System for robotically assisted minimally invasive and complex spine surgeries, which strengthened the company’s comprehensive product portfolio.
Some of the key companies are Sklar Surgical Instruments; Zimmer Biomet Holdings, Inc.; B. Braun Melsungen AG; Blink Medical Ltd.; Bolton Surgical Ltd.; Integra Life Sciences; TEKNO-MEDICAL Optik-Chirurge GmbH; Karlz Storz; BMT Medizintechnik GmbH; and Anthony Product, Inc.
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