Rhinoplasty Market: Asia Pacific Region Is Projected To Witness The Highest Growth At A 9.5 % CAGR
Rhinoplasty Industry Overview
The global rhinoplasty market size is expected to reach USD 10.9 billion by 2030 at a CAGR of 8.9% during the forecast period, according to a new report by Grand View Research, Inc. Rhinoplasty is a type of surgery that changes the shape of the nose. It is one of the most popular types of facial plastic surgery.
The increasing focus among people on physical appearance and technological advancements in the dermatology industry are some of the key factors anticipated to boost the demand for rhinoplasty during the forecast years. According to a report published by the International Society of Aesthetic Plastic Surgery (ISAPS), in 2018, 726,907 rhinoplasty surgeries were performed and were among the top 5 surgical procedures carried out at a global level. These stats suggest that there is a growing demand for rhinoplasty procedures and the rising awareness about cosmetic appeals is the most important factor contributing to the rhinoplasty surgery demand.
The number of young people turning to cosmetic procedures to improve their looks is on the rise. Also, there is a rising trend in non-invasive, non-surgical rhinoplasty. The presence of skilled cosmetic and plastic surgeons and technological advancements such as 3D computer-assisted technologies are anticipated to further boost the market’s growth.
The COVID-19 pandemic has significantly affected the market. Initially, due to lockdown and global restrictions being imposed in most countries, many surgeries were halted. The COVID-19 pandemic has caused a huge disruption in the supply chain of the overall medical industry. Initially, the outbreak has resulted in a decrease in the number of procedures performed each year, resulting in an overall decline in the market.
As rhinoplasty involves surgery of the nose, cosmetic surgeons were at a huge risk of getting exposed to the coronavirus. However, recently, hospitals and specialty clinics have put pandemic protocols to be maintained for both safety of the staff and the patients. For instance, in the U.S., in one of the surgery centers, a patient getting tested for coronavirus 48 hours before any procedure or surgery, staff are mandated to use N95 masks, and so forth. In 2020, while aesthetic surgeries were being held virtually, certain emergency elective surgeries were being approved, that too after following strict protocols.
Rhinoplasty Market Segmentation
Grand View Research has segmented the global rhinoplasty market based on treatment type, technique, and region:
Based on the Treatment Type, the market is segmented into Augmentation, Reduction, Post-traumatic, Reconstructive, Revision, Filler, Others (Ethnic Rhinoplasty, and Refinement Rhinoplasty).
- Augmentation rhinoplasty dominated the market in 2021 with a share of 17.5%. The market has been segmented into seven categories namely, augmentation, post-traumatic, reduction, reconstructive, revision, filler, and others. This is attributed to its use in both, the improvement structure and function of the nose.
- Augmentation nose surgery is one of the most common cosmetic procedures in regions such as Asia, with silicone implants being the most widely adopted material for augmentation nose reshaping surgery. It has many benefits and is a very useful procedure option in patients who have an aversion to the use of artificial implants.
Based on the Technique, the market is segmented into Open Rhinoplasty, and Closed Rhinoplasty.
- The open nose reshaping segment dominated the market in 2021 with a share of 51.2% and is also projected to remain dominant and grow at the fastest CAGR during the forecast years. The market has been segmented into open and closed rhinoplasty., owing to its ability to undertake complex and extensive nose surgery.
- Open and closed surgery require a highly skilled surgeon to avoid complications. Open rhinoplasty is not only used as cosmetic surgery to improve the aesthetics of a person but also to improve the functionality of the nose.
Key Companies & Market Share Insights
Some of the players operating in the market include companies that manufacture surgical equipment to perform rhinoplasty and clinics that are well known due to their cosmetic surgeon’s skills and capabilities.
Technological advancements in the market can boost the market growth. For instance, in April 2019, researchers at the Occidental College developed a non-surgical nose job that uses tiny needles, an electric current, and 3D-printed molds to reshape living tissue. In this, small needles are inserted into the cartilage, an electrical current is passed through, and the cartilage is reformed to the desired shape. The innovative technology could take just 5 minutes and revolutionize cosmetic surgery in near future. Some prominent key players in the global rhinoplasty market are:
- Stryker
- Grover Aesthetics
- Sunset Cosmetic Surgery
- Implantech
- GC Aesthetics
- Surgiform Technologies LLC
Order a free sample PDF of the Rhinoplasty Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Comments
Post a Comment