NEW YORK, Oct. 3, 2022 /PRNewswire/ — The rhinoplasty market had revenue of over $4.881 million in 2021, which will reach beyond $8,989 million by 2030, at a 7% CAGR. This is because of the snowballing awareness regarding aesthetics, increasing consumer spending on appearance, and growing disposable income.
Augmentation procedures have the largest share of the revenue, of around 19%, and this will continue in the future. This is because of the increasing number of people with congenital nasal imperfections and the growing adoption of this procedure for improving the nose functionality and overall facial aesthetics.
Open rhinoplasties are performed more than closed ones, attributed to the burgeoning incidence of nose reshaping and the rising preference for this procedure among surgeons as it allows easy access and high visibility during complex nasal surgeries. Hence, despite the invasiveness, the volume of open procedures will continue to be more than of closed ones.
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Liquid Rhinoplasty Gaining Prominence
General anesthetization is induced before a nasal surgery, which is why people prefer liquid rhinoplasty for avoiding anesthetization and long duration of the surgery; a liquid rhinoplasty is a merely 15-to-20-minute procedure. Surgeons inject fillers into the tip, bridge, and other areas of the nose, providing visible enhancement.
Led by Westernization, Rhinoplasty Volume To Grow Fastest in APAC
The demand for nasal surgeries in APAC will grow at the highest rate, of 7%. This is because of the increasing income in developing countries, flourishing medical tourism because of the lower treatment costs, and evolving healthcare infrastructure.
- Japan is the main revenue generator because of the availability of advanced medical technology, accessibility of skilled aesthetic surgeons, and existence of numerous manufacturers of advanced surgical tools.
- As per the ISAPS, about 15,000 rhinoplasties were conducted in the country in 2020.
- North America has the largest share of revenue, of about 25%, and this trend will continue in the future. This is due to the easy availability of accomplished and certified cosmetic surgeons and developed healthcare infrastructure.
- The US is the major revenue contributor in the continent because of the existence of numerous nose implant producers and high success rates of these surgeries.
- The increasing volume of MISs and the rising frequency of product launches are also responsible for the market expansion.
Browse detailed report on Global Rhinoplasty Market Size and Growth Forecast Report, 2030
People Choose Rhinoplasty to Look Beautiful
The primary aspect boosting the industry is the increasing beauty consciousness amongst teens and adults. The increasing multiculturalism in developing countries has changed some conventions related to beauty, thus resulting in a surge in the demand for filler and surgical nose jobs. Furthermore, the inclination of celebrities toward these treatments has had a strong impact on the beauty consciousness of the people.
Essentially, medical aesthetics has gained widespread interest due to the apprehensions about appearance. There is also pressure for maintaining a good facial appearance; thus, people in the age group of 25–65 opt for numerous cosmetic procedures.
Rhinoplasty Market Report Coverage
- Open Rhinoplasty
- Closed Rhinoplasty
- North America
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
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