North America is expected to lead the global cosmetology market due to growing number of minimally invasive surgeries in the region
Market Overview:
Cosmetology is the field of a beauty
practice that includes a variety of practices aimed at making individual’s look
and feel their best.
Competitive Landscape:
GC Aesthetics, Mentor Worldwide LLC, Sientra Inc., Zimmer
Holdings Inc., 3M Health Care, Allergan, Inc., Implantech Associates Inc.,
Institut Straumann AG, Nobel Biocare Holding AG, and Spectrum Designs Medical.
Key Market Drivers:
An increasing number of cosmetic surgeries
is expected to expand the global cosmetology
market size. For instance, according to American Society of Plastic
Surgeons (ASPS) 2017 reports, around 17.5 million cosmetic surgeries were
performed in 2017, U.S. among which breast augmentation, liposuction, and nose
reshaping were the top three procedures.
High preferences for Botox surgeries which
are used to reduce wrinkles and maintain youthful skin is again fostering the
growth of the market growth. According to the same source, around 65% of women
prefer Botulinum Toxin Type A.
Covid-19 Impact Analysis
The market of cosmetology
has witnessed negative growth slope during covid-19 pandemic due
to delay in non-emergency medical procedures.
Key Takeaways:
1.
The cosmetology market is expected to exhibit a CAGR of XX % over the forecast period
owing to the growing popularity of cosmetic procedures and increasing
disposable income of consumer.
2.
North
America is dominating the global cosmetology market and this is attributed to
the high number of minimally invasive surgeries in the region. According to the
American Society of Plastic Surgeons, in 2019, minimally invasive cosmetic
procedures grew at a slightly higher rate than surgical procedures. The Top 5
cosmetic surgical procedures performed in 2019 were: Botulinum toxin type A
(7.69 million procedures), Soft tissue fillers (2.72 million procedures),
Chemical peel (1.38 million procedures), laser hair removal (1.0 million
procedures), and Intense Pulsed Light (IPL) treatment (685,755 procedures).
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