PUBLISHER: Grand View Research | PRODUCT CODE: 1571772
PUBLISHER: Grand View Research | PRODUCT CODE: 1571772
The global plastic surgery instruments market size is expected to reach USD 2.36 billion by 2030, registering a CAGR of 7.7% during the forecast period, according to a new report by Grand View Research, Inc. Increasing number of surgical procedures coupled with technological advancements is anticipated to drive the market. Moreover, increasing awareness about plastic or reconstructive surgeries and improving affordability of related healthcare services are expected to aid growth over the forecast period.
Several key players are investing on R&D to launch innovative products. Moreover, rise in disposable income, improvement of standard of living, high social media influence, and increase in awareness among people are some of the factors boosting the number of surgical procedures. Plastic and reconstructive surgeries are performed mainly to restore tissue function and improve the body's appearance caused by trauma, burns, birth disorders, or any other disease.
According to WHO, 10 million people are injured or disabled due to road accidents every year, leading to extensive wound surgeries. This is expected to increase the number of plastic surgeries. The number of breast augmentation procedures has also increased by 4.3%, from 313,735 procedures in 2018 to 300,378 procedures in 2017. In addition, women with implants are also required to undergo additional surgeries due to complications such as leakage, scars, or shift of implants. High cost of implants coupled with rising demand is propelling demand for surgical instruments for breast procedures, thereby driving the overall market. Moreover, with rising healthcare expenditure in emerging economies, the number of plastic and cosmetic surgeries has increased to enhance aesthetic appeal, thus driving growth.