The Business Research Society has recently published a comprehensive report on Global Rhinoplasty Market Size and Trend Analysis Forecast 2024-2033. This latest market research report offers a wealth of valuable information and data, including global market size, regional shares, and competitor market share. In addition, it covers current trends, future opportunities and key data for success in the industry.
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According to The Business Research Company’s, the size of the rhinoplasty market has grown strongly in recent years. It will grow from $5.55 billion in 2023 to $5.98 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. Growth in the historical period can be attributed to changes in beauty standards and cultural perceptions, increasing disposable income, and the influence of celebrities and public figures.
Rhinoplasty market size is expected to witness strong growth in the coming years. It will grow to $8.17 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth during the forecast period can be attributed to changing aesthetic preferences, updates in healthcare regulations, economic fluctuations, increasing population, aging population, and changes in demographics. Major trends in the forecast period include a focus on functional enhancements, integration of virtual reality (VR), augmented reality (AR) and artificial intelligence (AI) has focused on natural results and increased demand among men.
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Market factors and trends:
The increasing number of minimally invasive procedures is expected to propel the growth of the pediatric catheters market in the future. Minimally invasive surgery (MIS) is a surgical method that minimizes the cutting of skin and tissue using techniques that cause as little damage as possible during treatments. Minimally invasive surgery is in demand because of faster recovery, less discomfort and minimal scarring. Minimally invasive surgery improves the use of pediatric catheters by providing less invasive access for insertion, reducing pain, shorter hospital stays, and faster recovery. For example, in August 2023, according to The Aesthetic Society, a US-based organization dedicated exclusively to cosmetic plastic surgery and cosmetic medicine of the face and body, Americans spent a total of over $11.8 billion in minimally invasive procedures (cosmetic procedures), up to 2% from the previous year. Hence, increasing minimally invasive procedures are driving the pediatric catheters market.
Major companies operating in the rhinoplasty market are increasing their focus on developing advanced non-surgical procedures to maintain their position in the market. Non-surgical procedures are medical treatments and procedures that do not involve making incisions in the body or removing tissue. These procedures are less invasive than surgery and often involve minimal recovery time. For example, in February 2023, TrueAesthetics, a US-based cosmetic services provider, introduced a non-surgical nose job procedure. This procedure involves strategically injecting fillers into the nose to achieve a smoother, more aesthetically pleasing appearance without surgery. The most common non-surgical nose job corrects a bump on the bridge of the nose by filling the root area, which is the highest point of the nose, just between the eyes, by injecting along the middle of the bridge.
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Main key market players:
Medtronic PLC, Stryker Corporation, Zimmer Biomet, Integra Lifesciences Holdings Corporation, MTF Biologics, KLS Martin Group, Syneron Medical Ltd., Pristyn Care, Sientra Inc., Koken Co. Ltd., Graham Plastic Surgery, GC Aesthetics, Merz Aesthetics, Suneva Medical Inc., Implantech Associates Inc., Luminera Derm Ltd., NOUVAG AG, COMEG Medical Technologies, Contura Ltd., Anthony Products Inc, New York Center for Facial Plastic Surgery , Osteopore, Sunset Cosmetic Surgery, Grover Aesthetics
Rhinoplasty Market 2024 Key Information:
• Rhinoplasty market size is expected to witness strong growth in the coming years. It will grow to $8.17 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%.
• Impact of increasing traffic accidents on rhinoplasty market growth
• Development of Advanced Non-Surgical Rhinoplasty Procedures
• North America was the largest region in the rhinoplasty market in 2023
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