US Cosmetic Surgery Market Size Likely to Reach at a CAGR of 5.4% By 2033

As per the current market research conducted by the CMI Team, the US Cosmetic Surgery Market size is expected to record a CAGR of 5.4% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 22,641.5 Million. By 2033, the valuation is anticipated to reach USD 36,347.2 Million.

US Cosmetic Surgery Market: Growth Factors and Dynamics

• Increasing Demand for Minimally Invasive Procedures: There is a significant trend towards minimally invasive cosmetic procedures, such as Botox, dermal fillers, and laser treatments. These procedures are preferred due to shorter recovery times, lower risks, and comparatively lower costs. The American Society of Plastic Surgeons (ASPS) reported a substantial increase in these procedures over the past decade.

• Technological Advancements: Innovations in medical technology, such as laser technologies, advanced imaging systems, and minimally invasive surgical techniques, have made cosmetic procedures safer, more effective, and more accessible. These advancements attract more patients and expand the range of treatable conditions.

• Growing Acceptance and Social Media Influence: The increasing acceptance of cosmetic surgery, driven by cultural shifts and the influence of social media, has led to a higher number of people seeking these procedures. Platforms like Instagram and TikTok, where appearance is often emphasized, contribute to the normalization and desirability of cosmetic enhancements.

• Aging Population: The aging baby boomer population in the US is a significant driver of the cosmetic surgery market. This demographic seeks to maintain a youthful appearance, leading to a higher demand for both surgical and non-surgical anti-aging treatments.

• Economic Factors: The economic recovery and rising disposable incomes in recent years have made cosmetic procedures more affordable for a broader segment of the population. Financing options and payment plans offered by clinics also make these procedures more accessible.

• Regulatory Environment and Safety: The regulatory environment, governed by entities like the FDA, ensures the safety and efficacy of cosmetic procedures and products. Enhanced safety measures and more stringent regulations build consumer trust, encouraging more people to opt for these procedures. Additionally, the rise of board-certified and specialized cosmetic surgeons boosts confidence in the market.

• Increase in Male Patients: There has been a noticeable increase in the number of men seeking cosmetic procedures. Traditionally dominated by female patients, the cosmetic surgery market is seeing a growing acceptance among men for treatments such as Botox, liposuction, and rhinoplasty. This shift is partly due to changing societal norms and the desire to maintain a youthful and competitive appearance in the professional sphere.

• Medical Tourism: The rise in medical tourism, where patients travel to the US for high-quality cosmetic procedures, has also contributed to the market’s growth. The US is home to some of the world’s leading cosmetic surgeons and advanced medical facilities, attracting international patients seeking top-notch services. This influx of foreign patients provides an additional revenue stream for the industry.

US Cosmetic Surgery Market: Partnership and Acquisitions

• In 2023, Establishment Labs Holdings Inc. partnered with four European partners and a second chain in Japan to launch Mia Femtech, designed for a 15-minute procedure aimed at enhancing breast shape. This collaboration expands the product’s market reach and accessibility across these regions.

• In 2022, LightStim has launched Elipsa, a pioneering device combining LED-based technology to treat both acne and wrinkles. It’s designed for home use, offering convenience and efficacy in addressing skincare concerns with dual treatment capabilities in one device.

• In 2022, Cynosure launched the PicoSure Pro Device featuring an advanced platinum lens focus array designed to reduce wrinkles, acne scars, and pores by stimulating collagen and elastin production. This innovative technology aims to enhance skin texture and appearance effectively.

Report Scope

US Cosmetic Surgery Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the US Cosmetic Surgery Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Decrease in Elective Procedures: During the height of the COVID-19 pandemic, many elective procedures, including cosmetic surgeries, were postponed or canceled to prioritize essential medical services and reduce the risk of virus transmission. This led to a significant decline in the number of cosmetic surgeries performed, impacting revenue for many practices.

• Economic Uncertainty and Reduced Disposable Income: The economic downturn caused by the pandemic resulted in reduced disposable income for many individuals. Financial uncertainty made people less likely to spend on non-essential services, including cosmetic procedures, further decreasing demand during the pandemic.

• Pent-up Demand: As restrictions eased and vaccination rates increased, many individuals who had postponed their cosmetic procedures due to the pandemic began to reschedule them. This surge in demand helped the market to quickly rebound, with clinics experiencing a backlog of patients seeking treatments.

• Adoption of Virtual Consultations: During the pandemic, many cosmetic surgeons adopted virtual consultations to stay connected with patients. This innovation not only maintained patient engagement during lockdowns but also became a convenient option that continues to be popular. Virtual consultations have expanded access to cosmetic procedures, making it easier for patients to plan and commit to treatments.

• Increased Focus on Self-Care and Appearance: The pandemic prompted a greater focus on self-care and personal appearance, partly due to increased time spent on video calls and social media. This heightened awareness has driven more individuals to seek cosmetic enhancements as part of their post-pandemic self-improvement goals.

• Flexible Financing Options: Cosmetic surgery practices have introduced more flexible financing options to accommodate patients’ financial situations post-pandemic. These options, including payment plans and medical credit cards, have made it easier for individuals to afford procedures despite economic uncertainties.

• Enhanced Safety Protocols: The implementation of rigorous safety and hygiene protocols has reassured patients about the safety of undergoing cosmetic procedures. Clinics have invested in improved infection control measures, which have built trust and confidence, encouraging patients to return for treatments.

In conclusion, the COVID-19 pandemic has had a mixed impact on the US Cosmetic Surgery Market, with some challenges and opportunities arising from the pandemic.

List of the prominent players in the US Cosmetic Surgery Market:

• Allergan Inc.
• Johnson & Johnson
• Galderma Laboratories L.P.
• Merz Pharmaceuticals LLC
• Sientra Inc.
• Hologic Inc.
• Syneron Medical Ltd.
• Cutera Inc.
• Alma Lasers
• Sciton Inc.
• Revance Therapeutics Inc.
• Stryker Corporation
• Zimmer Biomet Holdings Inc.
• Cynosure Inc.
• Mentor Worldwide LLC
• Others

The US Cosmetic Surgery Market is segmented as follows:

By Procedure Type

• Surgical Procedures
  • Facelift
  • Breast Augmentation
  • Liposuction
  • Rhinoplasty (Nose Surgery)
  • Eyelid Surgery
  • Others
• Non-Surgical Procedures
  • Botox Injections
  • Dermal Fillers
  • Laser Hair Removal
  • Chemical Peels
  • Microdermabrasion
  • Others

By Gender

• Women
• Men

By Age Group

• Young Adults
• Middle-aged Adults
• Elderly

By Purpose

• Reconstructive Surgery
• Aesthetic Surgery