The global Rhinoplasty Market size is expected to reach USD 7.3 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.5% from 2021 to 2028. 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 growing focus among people towards physical appearance and technological advancements in the dermatology industry are some of the key factors expected to increase the demand for nose jobs in the coming years. According to a report published by the International Society of Aesthetic Plastic Surgery (ISAPS), in 2018, rhinoplasty was among the top 5 surgical procedures carried out at a global level with over 726,907 surgeries performed.
These statistics suggest that there is a huge demand for nose jobs and the rising awareness about aesthetic appeals is the most important factor contributing to market growth. The availability of skilled plastic surgeons and technological advancements such as 3D computer-assisted techniques are anticipated to further fuel the growth of the market.
The COVID-19 pandemic has significantly affected the market. Initially, due to lockdown being imposed in most of the countries, surgeries were halted. Since rhinoplasty involves surgery of the nose, surgeons were at a higher risk of getting exposed to the virus, as the virus lives in the nose. However, recently, hospital surgery centers have put pandemic protocols to be maintained for both safety of the staff and the patients. For instance, in one of the surgery centers in the US, the patient getting tested for coronavirus 48 hours prior to any surgery, staff using N95 masks, and so forth. While cosmetic surgeries are currently being held virtually, certain emergency elective surgeries are being given approval, and that too after following strict protocols.
Request a free sample copy or view report summary: Rhinoplasty Market Report
Rhinoplasty Market Report Highlights
- Augmentation emerged as the largest segment in 2020 owing to its necessity for both functional and aesthetic indications
- Open rhinoplasty accounted for the largest revenue share in 2020 owing to its ability to alter nasal shape with precision and better facial appearance
- In Asia Pacific, the market is projected to witness a CAGR of 7.6% during the forecast period. Countries such as China and Japan are the hub of nose surgeries in the region