MEDICAL RESEARCH
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Medical aesthetic industry surging despite bad economy
New devices and equipment are behind growth, says Medical Insight Inc. of Aliso Viejo.
By Mary KosearasPublished: February 23, 2009 02:53 PM
Despite a tough economic climate, the demand for skin-firming and body-shaping products used by medical professionals is expected to grow over the next five years, according to Aliso Viejo-based Medical Insight Inc.'s Global Aesthetic Market VI report.
The introduction of new skin-tightening and body-shaping devices, dermal fillers and neuromodulators will encourage double-digit growth in the medical aesthetic industry, says the 500-page study. Although the number of cosmetic surgeries has fluctuated through the years, the market appears to have a healthy future.
According to the report, the sale of related surgical devices and products are expected to reach $8.2 billion by 2012. Skin-tightening devices will increase from $79.3 million in 2008 to $171.4 million in 2012, and body-shaping devices will rise from $361.9 million in global supplier sales to $752.9 million over the same period.
“Although the aesthetic device industry contracted in 2008 due to a deepening in global recession, consumer demand for cost-effective treatments that address significant age-related problems represent a highly sustainable long-term market,” says Michael Moretti, president of Medical Insight Inc. and the editor of Global Aesthetic Market VI.
The demand for these products will continue to rise, say industry reps, due to the ongoing consumer demand for quick, safe and relatively affordable ways to reduce the appearance of aging.
Medical Insight Inc. provides syndicated and custom research for the aesthetic market.
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Despite a tough economic climate, the demand for skin-firming and body-shaping products used by medical professionals is expected to grow over the next five years, according to Aliso Viejo-based Medical Insight Inc.'s Global Aesthetic Market VI report. The introduction of new skin-tightening and body-shaping devices, dermal fillers and neuromodulators will encourage double-digit growth in the medical aesthetic industry, says the 500-page study. Although the number of cosmetic surgeries has fluctuated through the years, the market appears to have a healthy future. According to the report, the sale of related surgical devices and products are expected to reach $8.2 billion by 2012. Skin-tightening devices will increase from $79.3 million in 2008 to $171.4 million in 2012, and body-shaping devices will rise from $361.9 million in global supplier sales to $752.9 million over the same period. “Although the aesthetic device industry contracted in 2008 due to a deepening in global recession, consumer demand for cost-effective treatments that address significant age-related problems represent a highly sustainable long-term market,” says Michael Moretti, president of Medical Insight Inc. and the editor of Global Aesthetic Market VI. The demand for these products will continue to rise, say industry reps, due to the ongoing consumer demand for quick, safe and relatively affordable ways to reduce the appearance of aging. Medical Insight Inc. provides syndicated and custom research for the aesthetic market. Related headlines Medtronic acquires Irvine-based CoreValve 23 Orange County ERs launch health data exchange "OC METRO Minute," Feb. 18: Medtech Insight expects home health care market to expand "OC METRO Minute," Feb. 11: CHOC Children's joins bone marrow study |
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