Published Date : 08 Jan 2024
The global rhytidectomy market size was exhibited at USD 3.1 billion in 2022 and is anticipated to touch around USD 6.98 billion by 2032, expanding at a CAGR of 8.50% from 2023 to 2032.
The growth of the rhytidectomy market is driven by the rising number of cosmetic surgeries, increasing awareness of facial aesthetics, rise in the fashion industry, rise in disposable income, and increasing demand for minimally invasive techniques. In addition, the rising adoption of advanced technology in hospitals and clinics, such as 3D imaging and AI-assisted consultation, improves treatment planning and patient experiences and is expected to fuel the market's expansion. Furthermore, shipment toward natural-looking and aesthetic faces.
North America holds the largest market share during the forecast period owing to the increasing investment in facial aesthetics surgeries, the presence of prominent market players, the growing influence of social media and celebrity culture, the massive shift toward young-looking faces, and the wide adoption of AI-assisted digital health solutions have gained immense importance for facial treatment.
The U.S. rhytidectomy market is growing at a rapid CAGR due to rising disposable income, rising medical tourism, the presence of sophisticated healthcare infrastructure, rising awareness of cosmetic surgeries among the adult population, and increasing demand for facelift surgeries. For instance, according to the 2022 Plastic Surgery Report published by the American Society of Plastic Surgeons (ASPS), 67,285 facelift surgeries were performed in 2019 and 72,668 procedures in 2022 indicated a rise of 8%. Thus, this is expected to fuel the market growth in the region during the forecast period.
|Market Revenue in 2023
|USD 3.35 Billion
|Projected Forecast Revenue by 2032
|USD 6.98 Billion
|Growth Rate from 2023 to 2032
|CAGR of 8.5%
|2023 to 2032
|North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
Rising demand for facelift surgeries
The rising demand for facelift surgeries is expected to drive market growth during the forecast period. Facelift surgeries are gaining rapid attention globally. These surgeries provide elegant contours and a youthful appearance by removing unwanted skin and wrinkles. Rhytidectomy, or face lifting, is a type of surgical procedure aiming to restore facial soft tissues to achieve a more youthful complexation. For instance, In February 2023, The American Academy of Facial Plastic and Reconstructive Surgery (AAFPRS), the world’s largest association of facial plastic surgeons, announced its 2022 member survey outcomes. 58% of AAFPRS‘s facial plastic surgeons report an increase in bookings and treatments over the past year, with more than 75% indicating they have seen a bump of more than 10% in patient demand. Thereby driving the market’s growth.
Increasing awareness among the adult population
Increasing awareness regarding facelift surgeries among the adult population is expected to boost the expansion of the global rhytidectomy market. The adult population widely adopts facelift surgeries to remove excess skin, smooth out folds or wrinkles, and tighten facial tissue. Facelifts are a significant part of the cosmetic surgery industry, which has seen consistent growth in the past few years. The adult population is extensively seeking effective solutions to counteract the signs of aging, boosting the global demand for facelift procedures.
High cost of treatment
During the forecast period, the global rhytidectomy market's expansion is anticipated to be constrained by the high cost of treatment. Cosmetic surgeries are expensive and require high costs for facelift surgeries, which makes them less accessible in middle and lower-income countries. The budget constraints may discourage individuals from opting for such treatments and are expected to hamper the market growth during the forecast period. Moreover, the adverse side effects associated with rhytidectomy or facelift surgeries are likely to impede the market's expansion during the forecast period.
Rising availability of advanced technology at healthcare facilities
The increasing use of the latest medical technology at healthcare facilities such as hospitals and clinics is projected to offer lucrative growth opportunities during the forecast period. Hospitals and clinics are performing cosmetic surgeries owing to advancements in advanced diagnostic imaging technology. The market has witnessed consistently rising demand for minimally invasive techniques, including thread lifts and injectable fillers. Rapid innovation has resulted in safer and more effective facelift procedures. These advancements also offer patients reduced downtime, minimized scarring, and satisfied outcomes. Moreover, technological improvements such as computed tomography, magnetic resonance imaging, and others have led to simplifying the cosmetic surgical process.
The growing influence of celebrity culture globally
The rising influence of celebrity culture is expected to provide immense growth opportunities to the market players in the coming years. Facelift procedures have witnessed evolving trends globally. Individuals are undergoing cosmetic surgery due to the rising influence of celebrity culture and social media. Facial rejuvenation treatments tailored to individual needs are gaining significant popularity among both women and men. Patients are inspired by the age-defying results of their admired figures and increased interest in facelift procedures. Celebrities, with their aesthetic appearances, set beauty standards that inspire individuals to undergo similar transformations. Such influences of celebrity culture are anticipated to fuel the demand for rhytidectomy procedures in the coming years.
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