Rhinoplasty is a surgical procedure designed to change the shape of the nose for either aesthetic reasons or to improve its function. It can involve modifying the bone, cartilage, skin, or all three. Rhinoplasty is typically performed by a plastic surgeon, otolaryngologist (ear, nose, and throat specialist), or maxillofacial surgeon.
Sizing and Forecast
The rhinoplasty market size has grown strongly in recent years. It will grow from $5.55 billion in 2023 to $5.98 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to shifts in beauty standards and cultural perceptions, rising disposable income, and the influence of celebrities and public figures.
The rhinoplasty market size is expected to see strong growth in the next few years. It will grow to $8.17 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to changing aesthetic preferences, updates in healthcare regulations, economic fluctuations, population growth, aging populations, and shifts in demographics. Major trends in the forecast period include a focus on functional improvements, the integration of virtual reality (VR), augmented reality (AR), and artificial intelligence (AI) has focused on natural results and increased demand among men.
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Segmentation & Regional Insights
The rhinoplasty market covered in this report is segmented –
1) By Treatment Type: Augmentation, Reduction, Post traumatic, Reconstructive, Revision, Filler, Other Treatments Types
2) By Technique: Open Rhinoplasty, Closed Rhinoplasty
3) By End User: Hospitals, Specialty Clinics, Aesthetic Clinic, Others End Users
North America was the largest region in the rhinoplasty market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the rhinoplasty market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
A growing number of road accidents is expected to propel the growth of the rhinoplasty market going forward. A road accident, also referred to as a traffic or motor vehicle accident, is an unexpected event involving one or more vehicles on a public road that damages property and causes injury or death. Road accidents are rising due to increased vehicle numbers, distracted driving, and inadequate road safety measures. Rhinoplasty is used in road accident cases to reconstruct and repair nasal injuries, restoring function and appearance. It addresses trauma-related deformities and breathing issues caused by nasal fractures. For instance, in May 2022, according to the National Highway Traffic Safety Administration, a US-based government agency, around 42,915 people died in motor vehicle traffic crashes in 2021, marking a 10.5% rise from the 38,824 fatalities in 2020. Therefore, the growing number of road accidents is driving the growth of the rhinoplasty market.
Key Industry Players
Major companies operating in the rhinoplasty market are Medtronic PLC, Stryker Corporation, Zimmer Biomet, Integra Lifesciences Holdings Corporation, MTF Biologics, KLS Martin Group, Syneron Medical Ltd., Pristyn Care, Sientra Inc., Koken Co. Ltd., Graham Plastic Surgery, GC Aesthetics, Merz Aesthetics, Suneva Medical Inc., Implantech Associates Inc., Luminera Derm Ltd., NOUVAG AG, COMEG Medical Technologies, Contura Ltd., Anthony Products Inc, New York Center for Facial Plastic Surgery, Osteopore, Sunset Cosmetic Surgery, Grover Aesthetics
The rhinoplasty market report table of contents includes:
1. Executive Summary
2. Rhinoplasty Market Characteristics
3. Rhinoplasty Market Trends And Strategies
4. Rhinoplasty Market – Macro Economic Scenario
5. Global Rhinoplasty Market Size and Growth
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32. Global Rhinoplasty Market Competitive Benchmarking
33. Global Rhinoplasty Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Rhinoplasty Market
35. Rhinoplasty Market Future Outlook and Potential Analysis
36. Appendix
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