Market Trends of Global Facial Fat Transfer Industry
This section covers the major market trends shaping the Facial Fat Transfer Market according to our research experts:
Hospital Segment is Expected to Hold a Significant Market Share in the Facial Fat Transfer Market
The increasing number of hospitals and healthcare expenditures is expected to be a major factor to drive this particular segment. For instance, as of the year 2021, in the United States, there were around 5,198 community hospitals according to the American Hospital Association 2022 survey. Similarly, as per the data from IDR Medical GmBH published in 2022, there are about 1,914 hospitals in Germany. Most of these are public (including some large university hospitals) and have less than 500 beds.
The healthcare systems in the developed countries are majorly focused on the public hospitals that provide multispecialty which enables a broad portfolio of services provided to the patients. However, even private hospitals are becoming the center of attraction for people across developing and developed nations as high-quality treatments are being offered in private hospitals at a comparatively high cost than in public hospitals. As far as the facial fat transfer procedure is concerned, it is mainly carried out in private hospitals.
Furthermore, the presence of skilled professionals is also expected to influence positively on the market. For instance, in 2020, there were around 7,000 plastic surgeons in the United States and approximately 55% of them performed facial fat transfer, according to the data of the International Society of Aesthetic Plastic Surgery 2020. Hence, with the all above-mentioned factors, it is observed that the hospital segment is expected to witness strong growth over the forecast period.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a major market share in the global facial fat transfer market due to the growing number of the aging population and cosmetic surgeries related to the face. In the North American region, the United States is one of the well-established markets for aesthetic devices. The presence of the key market players, the rising number of aesthetic/cosmetic procedures, and the high adoption of minimally-invasive procedures are the primary factors driving the market growth. According to the 2020 Plastic Surgery Statistics Report by the American Society of Plastic Surgeons, 15.6 million cosmetic procedures and 6.8 million reconstructive procedures were performed in the United States in the year 2020. The report indicated that around USD 16.7 billion was spent on cosmetic procedures in the United States.
The other factor contributing to the growth of the market studied is the increasing older population in the nation. The Population Reference Bureau in its report on Aging in the United States published in December 2021 indicated that more than 55 million people living in the United States were above the age of 65 years. The rise in the aging population in the United States is expected to add to the market growth over the forecast period.Moreover, there has been increased shift toward the minimally-invasive procedures in the United States as they have less pain and time after the procedures. Hence, owing to the above-mentioned factors market is expected to grow exponentially.
