Rhinoplasty Industry Overview
The global rhinoplasty market size was valued at USD 5.1 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 8.9% during the forecast period. It is a surgical procedure being performed to alter the structure of the nose. It is done to overcome breathing issues raised from injury or birth structural defects. However, nowadays it is highly performed for cosmetic reasons to alter the structure of the nose to enhance facial features or physical appeal.
Growing awareness of aesthetics and physical appearance is projected to drive the market growth of the market. The launch of technologically advanced treatment techniques such as 3D computer-assisted technologies has led to increased demand for rhinoplasty surgery. Furthermore, in 2018, according to the Plastic Surgery Statistics Report, rhinoplasty or nose reshaping was among the top five cosmetic surgical procedures at a global level. As per the American Society of Plastic Surgeons (ASPS), the rhinoplasty procedure is the most complex facial surgery that has a revision rate of as high as 15.0%.
Gather more insights about the market drivers, restraints, and growth of the Global Rhinoplasty Market
The outbreak of coronavirus has impacted the market negatively as there was a decline in the number of procedures in 2020 due to global restrictions. The COVID-19 pandemic has significantly affected the rhinoplasty market. Initially, there were increased concerns, especially for rhinoplasty surgeons, as the virus can transmit from the nose, and the chances of transmission were high. Cosmetic surgeons are virtually communicating with their patients using telemedicine. Only the emergency procedures were performed too with strict protocols to be followed.
However, on the other side, aesthetic surgery clinics in countries such as Japan, the U.S., South Korea, and Australia witnessed a rise in the number of people opting for plastic and cosmetic surgeries such as rhinoplasty as they had enough recovery time at home and have the option of wearing a mask while going outside.
The launch of any product for rhinoplasty procedures is strictly governed by specific regulations, whose approval is necessary for the launch of new products in the market. The rising adoption of cosmetic surgeries among celebrities and increasing awareness regarding cosmetic surgeries are expected to propel the growth of the market. However, complications associated with the surgeries, like bleeding after rhinoplasty procedures and chances of success rate could hamper the growth of the rhinoplasty market.
According to the American Society of Plastic Surgeons (ASPS) statistics, nose surgeries or rhinoplasty is gaining huge popularity and have become the third most popular aesthetic procedure in the United States. The recently released report from the American Society of Plastic Surgeons on annual trends showed just how significantly the coronavirus pandemic rocked the aesthetics world. However, it is also one of the most complex surgeries to perform. The American Journal of Cosmetic Surgery stated that revision rhinoplasty surgeries in the region are steadily rising.
Furthermore, rhinoplasty is the most prevalent type of cosmetic procedure when it comes to males in the United States. From the improvement of functionality to the correction of flaws, there are many factors for rhinoplastic surgery in males. Even though women account for nearly 90% of all plastic surgeries in the U.S., male rhinoplasty is becoming more prevalent. This is likely to drive the market of rhinoplasty further in the region.
Browse through Grand View Research's Medical Devices Industry Related Reports
Non-surgical Rhinoplasty Market - The global non-surgical rhinoplasty market size was valued at USD 649 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.1% from 2022 to 2030.
Facial Implant Market - The global facial implant market size was valued at USD 2.48 billion in 2021 and is expected to expand at a CAGR of 8.2% from 2022 to 2030.
Rhinoplasty Industry Segmentation
Grand View Research has segmented the global rhinoplasty market based on treatment type, technique, and region:
Treatment Type Outlook (Revenue, USD Million, 2018 - 2030)
- Augmentation
- Reduction
- Post-traumatic
- Reconstructive
- Revision
- Filler
- Others (Ethnic Rhinoplasty, Refinement Rhinoplasty)
Technique Outlook (Revenue, USD Million, 2018 - 2030)
- Open Rhinoplasty
- Closed Rhinoplasty
Rhinoplasty Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA (Middle East & Africa)
Market Share Insights:
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.
Key Companies profiled:
Some prominent players in the global Rhinoplasty Industry include
- 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.
No comments:
Post a Comment