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Plastic Surgery Instruments Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

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    Report

  • 120 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 5176865
UP TO OFF until Mar 31st 2024
The plastic surgery instruments market is expected to grow at a CAGR of 8.7% over the forecast period.

The healthcare system witnessed enormous challenges as a result of the COVID-19 pandemic. All elective and aesthetic procedures were postponed or restricted during the COVID-19 pandemic to ​reduce the risk of viral transmission, as most of these procedures were regarded as non-urgent. There was a decrease in the number of aesthetic procedures performed around the world during the COVID-19 pandemic. According to the International Society of Aesthetic Plastic Surgery 2021 report, in the year 2020, over 24,529,875 cosmetic procedures were performed, while 24,982,304 cosmetic procedures were performed in the previous year. The reduction in the number of procedures performed was mainly attributed to the fear of the risk of infection and the allotment of medical resources towards COVID-19 management. Thus, the plastic surgery instruments market was significantly impacted during the COVID-19 pandemic. However, the market is expected to grow past the initial phase. For instance, in August 2022, an article published in the American Society of Plastic Surgeons stated that after the stress of the COVID-19 pandemic, a new national survey called the Inaugural ASPS Insights and Trends Report: Cosmetic Surgery 2022 finds many Americans are now investing in themselves through cosmetic procedures, despite an uncertain economy. The American Society of Plastic Surgeons polled member surgeons nationwide and found more than three-quarters of cosmetic-focused plastic surgery practices are seeing more business than before the pandemic, with nearly 30 percent reporting their business has at least doubled. Thus, with such factors, the market is expected to grow over the forecast period.

The major factor attributing to the growth of the market is the increased awareness of cosmetic procedures. The demand for cosmetic procedures is rising worldwide as cosmetic surgery focuses on body improvement, and plastic surgery reconstructs damaged tissues caused due to burns or trauma. According to an article published in the Journal of Clinical and Aesthetic Dermatology in December 2021, there has been an increasing acceptance of cosmetic procedures in the middle eastern region, with a growing interest in skin and nasal procedures. The rising interest is expected to add to the growth of the plastic surgery instruments market over the forecast period.

The adoption of minimally invasive procedures is positively affecting the revenue growth of the studied market. For instance, According to data from Aesthetic Society members using the Aesthetic Neural Network (ANN) data from January 1, 2021-July 1, 2021, Americans spent over USD 8.7 billion on aesthetic plastic surgery, while Americans spent over USD 3 billion on nonsurgical aesthetic procedures. Moreover, Non-surgical liposuction, also known as non-surgical fat removal (lipolysis), is a non-invasive process that destroys extra fat cells in the body using various modern technologies like lasers, heat, cooling, ultrasound, and radiofrequency. This is also creating demand for medical aesthetic devices. Moreover, the International Society of Plastic Surgery (ISAPS) conducted an international survey on cosmetic procedures in 2020. According to the data, approximately 85% of nonsurgical procedures were performed on women, among which 12.8% were hair removal procedures, accounting for 1,538,982 procedures. Therefore, the adoption of hair removal procedures is poised to accelerate the growth of the studied market.

However, the complications associated with aesthetic procedures, such as hematoma, scarring, blood loss, nerve damage, infection, deep vein thrombosis, seroma, and others, may restrain the market growth in the forecast period.

Plastic Surgery Instruments Market Trends

Handheld Surgical Instruments is Expected to Hold Significant Share in the Market During the Forecast Period

Handheld surgical instruments can be classified into forceps, retractors, graspers, auxiliary instruments, cutter instruments, elevators, chisels & gouges, cannulas, dissectors, and sutures & staplers.

Rising awareness about various surgical procedures, increasing the number of plastic surgeries, and technological advancement are factors driving the growth of the market over the forecast period. According to the International Society of Aesthetic Plastic Surgery report 2021, around 10,129,528 surgical procedures were performed in the world, which is likely to add to the growth of the market segment. Similarly, a 2021 report from the British Association of Aesthetic Plastic Surgeons indicates that in the year 2021, there was a total of 15,405 cosmetic procedures performed in the year 2021. The large number of cosmetic surgeries being performed is expected to add to the growth of the handheld surgical instruments segment during the forecast period.

The recent product launches by the key market players are also aiding the market growth. For instance, in July 2021, Sutter Medical Technologies launched the single-use Swyng non-stick bipolar forceps, which offer precision and versatility to surgeons. Since the forceps are disposable, they are widely preferred in plastic surgeries. Thus, the recent product launches add to the growth of the market segment.

Therefore, owing to the above-mentioned factors, the handheld surgical instruments segment is expected to grow significantly.



North America Dominates the Market and Expected to do Same in the Forecast Period

North America is expected to dominate the overall plastic surgery instruments market, throughout the forecast period. The market growth is due to factors such as the presence of key players, favorable reimbursement policies, and providing access to advanced devices for plastic surgery & training sessions for physicians.

In the North American region, the United States holds the largest market share due to factors such as the increasing number of plastic surgeries and increasing awareness programs by trained and skilled dermatology professionals, and maximum reimbursement coverage in the country. According to the International Society of Aesthetic Plastic Surgery 2021 report, the United States was the country with the most number of surgical aesthetic procedures performed in the world. As per the report, in the United States, over 1,485,116 surgical aesthetic procedures were performed in the year 2020, while in Mexico, over 456,489 surgical aesthetic procedures were performed. The large number of surgeries performed in the region is a major factor contributing to the growth of the plastic surgery instruments market over the forecast period.

Also, the key market players in the region are aiding the market growth. For instance, in September 2021, Olympus Corporation launched the Powerseal family of advanced bipolar surgical energy products, the Powerseal 5mm Curved Jaw Tissue Sealer and Divider, Double-Action device. The powerseal devices provide the surgeons a state-of-the-art sealing, dissection, and grasping capabilities. Owing to the product launches in the region, the studied market is expected to grow significantly.



Plastic Surgery Instruments Market Competitor Analysis

The plastic surgery instruments market is moderately competitive and consists of several major players. Some companies currently dominating the market are KLS Martin Group, Integra LifeSciences Corporation, Tekno-Medical Optik-Chirurgie GmbH, Zimmer Biomet, B. Braun Melsungen AG, BMT Medizintechnik GmbH, Anthony Products, Inc., Bolton Surgical Ltd., Surgicon Pvt. Ltd., and Blink Medical.

Additional benefits of purchasing the report:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support


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Table of Contents

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Awareness of Cosmetic Procedures
4.2.2 Growing Number of Age-Related Plastic Surgeries
4.3 Market Restraints
4.3.1 Complications after Surgery
4.4 Porter Five Forces
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - in USD Millions)
5.1 By Type
5.1.1 Handheld Instruments
5.1.1.1 Forceps
5.1.1.2 Scissors
5.1.1.3 Retractors
5.1.1.4 Others
5.1.2 Electrosurgical Instruments
5.1.2.1 Bipolar Instruments
5.1.2.2 Monopolar Instruments
5.2 By Procedure
5.2.1 Cosmetic Surgery
5.2.1.1 Breast Procedures
5.2.1.2 Face and Head Cosmetic Surgery
5.2.1.3 Body & Extremities Cosmetic Procedures
5.2.2 Reconstructive Surgery
5.2.2.1 Breast Reconstruction Surgery
5.2.2.2 Congenital Deformity Correction
5.2.2.3 Tumor Removal
5.2.2.4 Other Reconstructive Surgeries
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle-East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 KLS Martin Group
6.1.2 Integra LifeSciences Corporation
6.1.3 Tekno-Medical Optik-Chirurgie GmbH
6.1.4 Zimmer Biomet
6.1.5 B. Braun Melsungen AG
6.1.6 BMT Medizintechnik GmbH
6.1.7 Anthony Products, Inc.
6.1.8 Bolton Surgical Ltd
6.1.9 Surgicon Pvt. Ltd
6.1.10 Blink Medical
7 MARKET OPPORTUNITIES AND FUTURE TRENDS

Companies Mentioned

A selection of companies mentioned in this report includes:

  • KLS Martin Group
  • Integra LifeSciences Corporation
  • Tekno-Medical Optik-Chirurgie GmbH
  • Zimmer Biomet
  • B. Braun Melsungen AG
  • BMT Medizintechnik GmbH
  • Anthony Products, Inc.
  • Bolton Surgical Ltd
  • Surgicon Pvt. Ltd
  • Blink Medical

Methodology

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