Asia leads as cosmetic surgery industry grows globally
Cosmetic surgery is on the rise globally, with the industry growing by 8.2% in 2015.
The sector is growing particularly rapidly in Asia, which accounted for 22% of the market last year, according to figures released yesterday at the annual Imcas (International Master Course on Ageing Science) conference in Paris.
Globally, body contouring procedures saw the biggest increase in popularity in 2015, increasing by 13.5%. This category includes a wide range of procedures such as face lifts, tummy tucks, buttock augmentation and liposuction.
This was followed by energy devices (such as the use of lasers), which jumped by 9.3%, and cosmeceuticals. Breast implants increased the least, seeing a 3.9% growth worldwide.
Experts predict cosmetic procedures to increase steadily on a global basis at an average rate of 8.9% until 2020, at which point the market, which was worth US$6.89 billion (RM28.58 billion) in 2015, will be worth US$10.49 billion.
The United States, which accounted for 45% of the market last year, remains the biggest nation for cosmetic surgeries, with Europe claiming 24% of the market and Latin America 9%.
The biggest change will be in Asia, which is expected to see its cosmetic surgery industry grow the most, at an average annual rate of 13.8% between now and 2020.
In contrast, Europe, which accounted for 25% of the global market in 2014, will see its share diminished to 21% over the next four years.