Cosmetic Surgery Products forecasts to 2010 and 2015
Released on = April 20, 2007, 11:37 pm
Press Release Author = Bharat Book Bureau
Industry = Marketing
Press Release Summary = US demand increasing over 9% annually through 2010
America's obsession with youth, coupled with favorable demographics (e.g., the aging population), greater product availability and the continued introduction of new products, will fuel gains in cosmetic surgery procedures over the next decade.
Press Release Body = Cosmetic Surgery Products forecasts to 2010 & 2015
US demand increasing over 9% annually through 2010
America's obsession with youth, coupled with favorable demographics (e.g., the aging population), greater product availability and the continued introduction of new products, will fuel gains in cosmetic surgery procedures over the next decade. US demand for cosmetic surgery products is forecast to increase 9.2 percent per year to $2.7 billion in 2010, based on increases in cosmetic surgery procedures, which are forecast to expand 9.0 percent annually to 17.5 million procedures over the same time period. Best opportunities are expected in nonsurgical markets (such as injections, dermal resurfacing and microdermabrasion) due to consumer preferences for less invasive treatments. However, demand for surgical products will continue to be strong in areas, such as implants, where there are no signifi- cant alternatives.
Injectables growing fastest, but equipment to remain largest product type
Strong prospects for products used in cosmetic procedures are the result of growing demand and acceptance on the consumer side and a greater availability and proficiency of practitioners. The aging of the US population, an increasingly competitive work force, continued exposure to beauty "ideals" in entertainment and advertising, and favorable consumer incomes are expected to spur continued interest in cosmetic procedures, especially as less invasive alternatives are developed. More consumers are expected to try cosmetic procedures if they are affordable, available close to home, and have minimal recovery time. Medical practitioners are expected to increasingly offer cosmetic options as these procedures are generally "out-of-pocket" expenses and thus avoid the need to deal with insurance companies. The development of easier-to-use and safer products and procedures will also open up strong opportunities in other markets such as beauty salons and spas. Equipment will continue to be the largest product type, with 30 percent of the market in 2010. Demand will be driven by gains in the use of microdermabrasion machines and a variety of other new equipment types, as well as continued steady growth in the large laser market.
Microdermabrasion machines will benefit as a rising number of men and women wish to have a younger looking complexion through a procedure that requires little or no recovery time. Injectables will register the fastest gains. Growth in this sector boomed with the introduction of BOTOX (Allergan) in the 1990s when it was used for "off label" wrinkle treatments, and later when it achieved FDA approval for cosmetic indications. Going forward, injectables demand will benefit from new product introductions, most notably tissue fillers based on hyaluronic acid and others, that provide improved, longer-lasting results.
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