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Plastic Surgeries: Latest Industry Trends and Statistics

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Global Cosmetic Surgery Industry

The global cosmetic surgery industry (one of the major beauty services on the market) has benefited from technological advances as well as an increasingly favorable public perception and an aging population. The industry suffered during the economic recession between 2007 and 2009 in terms of revenue and profit margins, though demand remained strong, reports IBIS World. As economic recovery continues and employment and income levels rise, demand will growth further still.

The worldwide cosmetic surgery industry provides medical procedures to enhance physical appearance. People with extreme physical deformities can avail of cosmetic surgery to improve or correct severe physical abnormalities. While used to treat physical ailments, cosmetic surgery is also proving popular for more purely aesthetic reasons. Surgical and non-surgical procedures are carried out by licensed professional doctors in medical specialist clinics.

Operators are being forced to compete with medi-spas that now offer a range of nonsurgical procedures. This new source of rivalry will force operators to cut the price of many procedures, exercising downward pressure on operating profit.

Popular Procedures

Botox represents the procedure with the highest rate of demand within the global aesthetic dermatology market, reports Business Insights. This is in large part thanks to direct-to-consumer advertising campaigns, backed by Allergan. Patients opting for Botox treatments cite advantages over other fillers such as being able to avoid having a puffy face as a result of the treatment.

Breast augmentation is a segment of the global cosmetic surgery market recording rapid growth. This procedure is used to rectify lost volumes and balance asymmetrical breasts. Breast augmentation procedures increasingly use saline or silicone breast implants, which cut the risk of absorption in the patient’s body.

Hyaluronic acid injections represent the number-one injectable biomaterial-based products currently used in non-invasive cosmetic procedures today. Leading industry players continue to invest in research and development in this segment to provide more patient-compliant solutions that are easily administered and cost effective.

Regional Market Share

The US cosmetic procedure industry is forecast to generate almost $18 billion by 2015, according to research from Global Industry Analysts. The US cosmetic surgery product market segment is expected to reach almost $3 billion in the same year. Market growth will be driven by economic recovery and rising demand for cosmetic procedures related to a more favorable view of the industry and an aging population. Consumer trends in this sector are also being influenced by more-strict competition for jobs, and the huge success of make-over and weight loss reality TV shows.

The EU’s cosmetic procedure market is expected to reach almost $3 billion by 2015. Cosmetic surgical procedures comprise the largest portion of the market, with the non-surgical segment representing a higher frequency of procedures carried out, reports Global Industry Analysts. Non-surgical cosmetic treatments are popular with patients because they have far less side effects, a shorter recovery time and are non-invasive.

The UK represents the largest market in the EU for cosmetic surgery procedures, and is recording the most rapid rate of growth. UK cosmetic surgery demand remained unaffected by the economic recession, with many segments recording strong growth in 2009 including Botox, liposuction, breast augmentation and rhinoplasty. Demand for surgical cosmetic procedures for men continues to rise, with popular procedures including brow lifts, tummy tucks, breast reduction, and facelifts. Easter Europe is attracting rising numbers of patients seeking cosmetic surgery procedures at lower cost.

India’s cosmetic surgery industry is recording strong growth linked to a favorable economic climate, medical tourism and rising levels of disposable income, reports Koncept Analytics. The country’s medical sector is also boosting cosmetic surgery activities thanks to its infrastructure and availability of qualified surgeons. The number of cosmetic surgeons practicing in India continues to rise, better meeting demand for invasive and non-invasive cosmetic procedures. Other factors affecting the Indian cosmetic surgery industry include the country’s wedding market, with particular attention paid to physical appearance due to arranged marriages.

iData Research estimates the Indian and Chinese market for facial aesthetics, medical laser devices and cosmetic surgery generated almost $730 million in 2010. The market is expected to surpass $1.2 billion by 2017.

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Parent industry: Beauty and Wellness Services
Related industries: Sauna, Hammam and Spa, Massage and Relaxation, Fitness, Beauty Salon and Services, Tanning Salon

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