The global Rhinoplasty Market size is expected to reach USD 10.9 billion by 2030 at a CAGR of 8.9% during the forecast period, according to a new report by Grand View Research, Inc. Rhinoplasty is a type of surgery that changes the shape of the nose. It is one of the most popular types of facial plastic surgery.
The increasing focus among people on physical appearance and technological advancements in the dermatology industry are some of the key factors anticipated to boost the demand for rhinoplasty during the forecast years. According to a report published by the International Society of Aesthetic Plastic Surgery (ISAPS), in 2018, 726,907 rhinoplasty surgeries were performed and were among the top 5 surgical procedures carried out at a global level. These stats suggest that there is a growing demand for rhinoplasty procedures and the rising awareness about cosmetic appeals is the most important factor contributing to the rhinoplasty surgery demand.
The number of young people turning to cosmetic procedures to improve their looks is on the rise. Also, there is a rising trend in non-invasive, non-surgical rhinoplasty. The presence of skilled cosmetic and plastic surgeons and technological advancements such as 3D computer-assisted technologies are anticipated to further boost the market’s growth.
The COVID-19 pandemic has significantly affected the market. Initially, due to lockdown and global restrictions being imposed in most countries, many surgeries were halted. The COVID-19 pandemic has caused a huge disruption in the supply chain of the overall medical industry. Initially, the outbreak has resulted in a decrease in the number of procedures performed each year, resulting in an overall decline in the market.
As rhinoplasty involves surgery of the nose, cosmetic surgeons were at a huge risk of getting exposed to the coronavirus. However, recently, hospitals and specialty clinics have put pandemic protocols to be maintained for both safety of the staff and the patients. For instance, in the U.S., in one of the surgery centers, a patient getting tested for coronavirus 48 hours before any procedure or surgery, staff are mandated to use N95 masks, and so forth. In 2020, while aesthetic surgeries were being held virtually, certain emergency elective surgeries were being approved, that too after following strict protocols.
Related Press Release@ Rhinoplasty Market Report
Rhinoplasty Market Report Highlights
- Augmentation rhinoplasty emerged as the largest segment owing to its necessity for both functional and aesthetic indications
- Open rhinoplasty accounted for a larger share in 2021 owing to its ability to alter nasal shape with precision and better facial appearance
- Asia Pacific region is projected to be the fastest-growing region with a CAGR of 9.5% during the forecast period. Countries such as China and Japan are the hub of rhinoplasty surgeries in the region
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