Rhinoplasty Implants Market Size

Rhinoplasty Implants Market Size

Rhinoplasty Implants Market size was valued at around USD 700 million in 2020 and is projected to grow at a CAGR of over 15.9% between 2021 and 2027. Ongoing innovations associated with 3D computer-assisted techniques have improved preoperative assessment, meticulous planning, and use of 3-dimensional–guided osteotomies. The rising technological advancement in aesthetic procedures has fuelled the demand for rhinoplasty implant procedures. It is a widely performed cosmetic procedure credited to the extensive benefits.

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However, the lack of skilled professionals for rhinoplasty procedure may adversely affect the rhinoplasty implants market growth. The risk factors associated with these procedures may increase owing to the surgeon’s lack of appropriate training and required skills. The unqualified physician may put a patient at serious risk of injury. The market expansion can be hampered in emerging economies as these particular issues are rising among cosmetic surgeons. The shortage of skilled surgeons is an issue that has long been at the forefront of the medical sector.

Moreover, the regulations in these treatments are limited attributed to these procedures are rarely available through National Health Service and primarily take place in the private sector. Thus, the UK Review Committee recommended the creation of approved training schemes and accreditation qualifications for surgical and non-surgical procedures that will prove beneficial for the industry growth. In addition to this, high costs associated with the surgical procedures and unsatisfactory outcomes are set to restrict the industry expansion.

The emergence of the COVID-19 pandemic is an unprecedented health concern across the globe and has moderately impacted the market. Initially, an outbreak of SARS-CoV-2 has disrupted the supply chain and put restrictions on trade and movement of goods, thereby affecting the market. For instance, the U.S. declared a national emergency and a ban on all elective therapeutic and diagnostic procedures, as well as elective surgical in outpatient and inpatient settings.

However, the American Academy of Facial Plastic and Reconstructive Surgery reported a rapid rise in treatments and bookings during the COVID-19 pandemic for surgical rhinoplasty. This upsurge is credited to the benefits of working from home, and the flexibility to recover from treatments due to social distancing. These factors coupled with unprecedented virtual lifestyle, less travel, and masks have led to a surge in surgical procedures. As a result, the pandemic will have a significant impact on the market progression.