With Market Size Valued at $1.3 Billion by 2026, it`s a Healthy Outlook for the Global Plastic Surgery Instruments Market

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Sep 10, 2021, 11:35 ET

SAN FRANCISCO, Sept. 10, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Plastic Surgery Instruments - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

Global Plastic Surgery Instruments Market

FACTS AT A GLANCE
Edition: 7; Released: September 2021
Executive Pool: 423
Companies: 94 - Players covered include Anthony Products, Inc.; B. Braun Melsungen AG; Blink Medical Ltd.; BMT Medizintechnik; Bolton Surgical Ltd.; KARL STORZ Endoscopy-America, Inc.; KLS Martin Group; Sklar Instruments; Surgicraft Inc.; Tekno-Medical Optik Chirurgie GmbH & Co., KG.; Zimmer Biomet Holdings, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Type (Handheld Instruments, Electrosurgical Instruments, Other Types); Procedure (Cosmetic Surgery, Reconstructive Surgery); End-Use (Hospitals, Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Plastic Surgery Instruments Market to Reach US$1.3 Billion by the Year 2026
Plastic surgery instruments are commonly used in plastic surgeries intended to replace, reconstruct, alter or restore specific parts of the body like the face, breasts, skin and musculoskeletal. Some of the popular instruments used during plastic surgeries include forceps, scissors, chisels, dissectors, awls, needle holders, graspers, clamps and electrosurgical devices. Growth in the global market is set to be driven by rising demand for minimally-invasive or non-invasive surgeries, high uptake of cosmetic surgical procedures among both women and men to enhance looks, and increasing geriatric population. Increasing number of cosmetic surgeries and rising attention on personal looks and aesthetics is boosting demand for plastic surgery instruments. In addition, rising popularity of minimally-invasive and less-invasive surgeries along with increasing incidence of road accidents and resulting need for reconstruction surgeries is propelling demand.

Amid the COVID-19 crisis, the global market for Plastic Surgery Instruments estimated at US$839.5 Million in the year 2020, is projected to reach a revised size of US$1.3 Billion by 2026, growing at a CAGR of 7.1% over the analysis period. Handheld Instruments, one of the segments analyzed in the report, is projected to grow at a 7.8% CAGR to reach US$723.5 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Electrosurgical Instruments segment is readjusted to a revised 6.7% CAGR for the next 7-year period. This segment currently accounts for a 36.3% share of the global Plastic Surgery Instruments market. The handheld surgical instruments segment is gaining from increasing awareness regarding surgical procedures, technological advancements and rising uptake of plastic surgeries among patients. Electrosurgical instruments are witnessing increasing demand due to increasing number of surgical procedures, high availability of plastic surgeons and increasing influx of advanced products on the market.

The U.S. Market is Estimated at 327.5 Million in 2021, While China is Forecast to Reach $131.6 Million by 2026
The Plastic Surgery Instruments market in the U.S. is estimated at US$327.5 Million in the year 2021. The country currently accounts for a 37% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$131.6 Million in the year 2026 trailing a CAGR of 9.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.9% and 6.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7% CAGR while Rest of European market (as defined in the study) will reach US$143.1 Million by the end of the analysis period. The US is a key regional market, and growth is is bolstered by technological advances, favorable reimbursement policies, government initiatives and the presence of major players. The market is also gaining from availability of large number of clinics offering plastic surgery services, rising attention on aesthetics, and high popularity of cosmetic procedures in the US. Growing maturity of the developed Western regions such as the United States and Europe, and growing affluence of the population in developing regions is encouraging global aesthetic services to invest in markets such as India and China. Rising disposable income levels, aggressive retail marketing, rising health awareness levels, growing consciousness about physical appearance, a rapidly aging population, and rising standard of living present in India and China as highly lucrative markets for plastic surgery instruments.

Cosmetic Surgery Segment to Reach $938.8 Million by 2026
The cosmetic segment is driven by increasing number of body extremities, breast enhancement and face-related surgeries being performed globally. These developments are poised to push the number of cosmetic procedures and boost the demand for plastic surgery instruments. In the global Cosmetic Surgery (Procedure) segment, USA, Canada, Japan, China and Europe will drive the 7.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$493.9 Million in the year 2020 will reach a projected size of US$798.1 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$84.4 Million by the year 2026, while Latin America will expand at a 8.5% CAGR through the analysis period. More

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