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The Rhytidectomy Market To Get Going With Healthcare Mobile Apps

Rhytidectomy also known as facelift is a cosmetic surgery performed to remove excess facial skin, tighten the underlying tissues, followed by redraping of the skin and toning the facial muscles to provide a youthful appearance. The primal desire to be young is a key driver of the global rhytidectomy market. According to the American Society for Aesthetic Plastic Surgery, Rhytidectomy is the sixth most popular aesthetic surgery, and more popular procedures include breast augmentation, eyelid surgery, liposuction, abdominoplasty, and breast lift. The Rhytidectomy market is highly sensitive to social and cultural factors, the influence of media & the fashion industry, peer pressure for beauty, and changing dimensions of beauty, among others. Growth in the number of old people in the U.S., especially the baby boomer population, is driving the Rhytidectomy market.

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Rhytidectomy Market: Drivers and Restraints

The World Health Organization (WHO) estimates that the percentage of the world’s population aged over 60 years will nearly double between 2015 and 2050 from 12% to 22%. WHO also suggests that by 2020, the number of people aged 60 years and above will outnumber population younger than 5 years. By 2050, 80% of older people will be living in low- and middle-income countries. Thus, a large demand and the existence of unmet needs are among factors expected to drive the Rhytidectomy market.

Technological advancements in advanced diagnostic imaging, such as computed tomography, magnetic resonance imaging, and others, have resulted in an increase in the number of Rhytidectomy procedures performed. The global rhytidectomy market is increasingly inclined toward minimally invasive surgeries owing to its lower footprint. The rhytidectomy market is highly biased toward customized and individualized solutions based on the anatomy of patients, which is driving a faster adoption of the rhytidectomy market. The development of computer-generated models is another driver of the Rhytidectomy market as it provides patients a brief view of the effects of the surgery.

However, the high cost of procedures, risk of infection, damage to the facial nerves, and lack of trained manpower & specialty hospitals are some of the factors restraining the growth of the rhytidectomy market. For example, on an average Rhytidectomy costs US$ 6,000 in the US, not including other expenses such as anesthesia, prescriptions, or tests. Scarring and changes in the angle of the ears are among postsurgery complications that are also likely to hamper the Rhytidectomy market growth. Alternative treatments that include fillers, such as hyaluronic acid and Botox treatment, among others, are other Rhytidectomy market restraints.

Rhytidectomy Market: Segmentation

The global rhytidectomy market is segmented based on the material of construction, cementing technique, sex, end users, and region.

Based on type, the global rhytidectomy market is segmented into the following:

  • Full Facelift
  • Mid Facelift
    • Upper (Brow and Eyelids)
    • Mid-Face (Cheekbone area)
    • Lower (Jawline, Jowls, and Neck)

Based on products, the global rhytidectomy market is segmented into the following:

  • Drugs
    • Antiscarring
    • Dressings and Compression Support
    • Sealants
  • Sutures
  • Others

Based on sex, the global rhytidectomy market is segmented into the following:

  • Male
  • Female

Based on end users, the global rhytidectomy market is segmented into the following:

  • Hospitals
  • Clinics

Market Trends: Overview

The market is characterized by a clustered look with tourism sectors having a share disproportionate to their size. For example, tourism clusters such as Bangkok,
Pataya, Venezuela and Miami have a disproportionate number of facelift surgeries owing to their large tourism economy. Growing number of FDA approvals are driving greater Rhytidectomy market expansion and development. For example, The U.S. FDA clearing the fibrin sealents and the emergence of growth factors enriched healing creams are driving the Rhytidectomy market.

Rhytidectomy Market: Regional Outlook

Based on regions, the global rhytidectomy market has been segmented into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, and Middle East & Africa. North America led by the U.S. accounts for the largest market share in the global rhytidectomy market owing to the concentration of key market players, large income, and large baby boomer population. However, the high cost of procedures in the U.S., which is almost 60% higher than most developing regions, is a deterrent to the market. According to the American Society for Aesthetic Plastic Surgery, there was a 6.5% increase in the total number of cosmetic surgical procedures in 2015, with almost 2.5 million surgical procedures performed in 2016. The number of men undergoing these procedures grew by 40 % over 2015.

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The Asia Pacific rhytidectomy market excluding Japan is expected to grow at the most significant rate owing to growing healthcare expenditure, developing infrastructure, and economic growth, especially of China & India. The cost of performing rhytidectomy surgery is expected to be the lowest in India. The expansion of the tourism industry and formation of tourism clusters, such as Bangkok, Miami, and others, has increased the availability as well as demand for these surgeries.

The Europe rhytidectomy market is expected to be led by Germany, France, and the U.K. The large medical devices industry of Germany is driving the European market. The cost of rhytidectomy surgeries in Poland, Sweden, and few other countries is the lowest, which is boosting the tourism industry in these countries.

The growth of the rhytidectomy market in the Gulf economies of Saudi Arabia, Kuwait, and Qatar is expected to boost the Middle East and Africa rhytidectomy market. However, ethical issues and the traditional society of Gulf economies is expected to hamper market growth. Latin American nations, such as Ecuador, Brazil, Venezuela, and others, hold disproportionate shares of the market owing to their large tourism industry and lower cost of treatment.

Rhytidectomy Market: Key Players

Some of the major players operating in the global rhytidectomy market are Millennium Surgical Corp, Lotus Surgicals, Antibe Therapeutics Inc., Baxter, and Make Me Heal. The global market for rhytidectomy is consolidated with a few large players dominating the scene. The global rhytidectomy market is technology and intellectual property intensive, which favors large players with deep pockets. The high cost of development is driving collaborations between players to reduce the development cost and time by benefiting from complementary technologies of each partner. However, the high premium of the market acts as a deterrent to collaborations as major players are hesitant to lose their market position and share.

The global rhytidectomy report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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