The market for cosmetic surgery and non-surgery has illustrated its current strength by increasing in both volume and value terms throughout the economic recession. In 2008 and 2009, growth in surgery slowed to a comparatively more modest pace, but this trend was bucked by the non-surgical sector, which continued to make strong gains.
The number of face lifts declined in 2009, possibly due to recession and the growth in non-surgical alternatives. Technology for rejuvenating the skin advanced tremendously during 2009. Apart from greater availability of new types of injectable filler treatments to treat wrinkles, laser resurfacing, micro current technology and chemical peels all offer effective alternatives to more expensive facial surgery. Other forms of surgery, such as liposuction and breast surgery, continued in popularity and once the economy regains strength, are likely to increase substantially in demands. Although there are non-surgical alternatives to procedures such as breast augmentation and tummy tucks, surgery is likely to remain the domain choice for consumers.
The number of cosmetic surgery procedures in the U.S. sagged for the 2nd year in a row in 2009 according to annual survey released by plastic surgeons’ association. There were 10 million surgical and non-surgical procedures last year, down 2% from 2008, according to survey of 928 board certified physicians by the ASAPS. Elective cosmetic surgery, which is often not covered by insurance, has dropped in demand during the recession. Surgical procedures can cost thousands of dollars more than non surgical measures and they require a longer recovery. Non surgical procedures such as injections of botox or hyaluronic acid to fill facial wrinkle, were flat, inching up 0.6% to 8.5 million.
As technology is changing, so the distribution system for the industry is evolving. Traditional surgical providers are adding non-surgical procedures to their offerings, as well as cosmetic dentistry, weight loss surgery, hair transplant and even cosmeceuticals. Smaller chain operators are adding a new competitive edge to the market in the area of facial treatments, Laser Hair Removal, fillers, Microdermabrasion and peels.
As the economy recovers, more baby boomers are expected to seek procedures, and more physicians will likely offer non surgical options. Surgical procedures have increased by 50% since 1997, while non-surgical procedures grew 231%.