The Correlation Between the Health of the Global Economy and Cosmetic Surgery Revenue

The U.S. is currently the largest market for cosmetic procedures globally.

Recently, a report published by The American Society of Plastic Surgeons demonstrated that service profits for Plastic Surgery increase and decrease with economic trends. The journal has analyzed the revenue trends and their possible relationships with numerous economic statistics. According to their analysis, profits from surgical procedures are reflected by economic criterion like stock market averages. When the stock exchange average increases, the revenue from Cosmetic Surgeries also increase. When the unemployment rate goes up, the revenue from Cosmetic Surgeries tend to decrease. During 2015, in the U.S., which is the largest market for cosmetic procedures, the overall revenue increased 20%, but there was 10% decline in service profits from surgical procedures, such as Breast Augmentation and Facelift.

On the contrary, trends in minimally invasive procedures reflect microeconomic benchmarks. Revenue from minimally invasive procedures increased along with real estate value, disposable income per capita and real Gross Domestic Product per capita. Consequently, there was an approximate 200% increase in service revenues generated by minimally invasive cosmetic procedures, such as Botulinum Toxin and dermal fillers. The market shares for service profits from these procedures increased from 30% in 2000 to about 50% in past two years. Subsequently, the service revenues from surgical procedures have remained stable.

Non-surgical treatments blazed a path across the globe; they are generally divided into three major categories: injectables, energy based devices and active cosmetics. Injectables include neurotoxins, such as Botox® and dermal fillers like Restylane® and they have the largest market share. These are followed by energy–based devices, such as lasers, radio frequency and Intense Pulsed Light (IPL). The cosmeceuticals include skin care, eye care, skin lightening, and scar care products.

The North American market comprises approximately 45% of the global market; however, the dominance of the U.S. is migrating towards Asia, specifically in the energy–based devices sector. Asia is considered the next frontier and the number of physicians and clinics in China and India has been steadily increasing, along with medical tourism in the region. In the injectables and devices category, the E.U. occupies the second position behind the U.S. Brazil remains a strong market for aesthetics and cosmetic procedures. Russian market is also experiencing fast growth than many E.U. countries and the Russian market is especially strong for devices and topicals.

Along with the global giants like Allergan, Galderma and Merz, a lot of smaller companies are offering wrinkle relaxing agents and wrinkle fillers. These products have only temporary effects requiring repeated procedures. The market for these products is nearing maturity and they are widely accepted only in the U.S. and E.U., whereas, permanent fillers are widely in demand in Asia. Artefill is considered to be a semi–permanent to permanent filler. It contains a synthetic ingredient known as polymethyl methacrylate (PMMA) mixed with animal collagen. Use of off–the–shelf dermal fillers and fillers containing Lidocaine for pain management is becoming a gold standard in the E.U. and U.S. markets.

Aesthetic practitioners have now the choice of new instruments such as, soft and bendable needles, blunt-tip cannulas and injector pens for minimally invasive procedures. Recent years have seen wide acceptance by consumers for microneedle treatments administered via handheld guns, for restoring skin with vitamins, amino acids and hyaluronic acid. Consumer aesthetic products, such as “micro–botox” and “bro–tox” are experiencing substantial growth. Adipose Derived Stem Cells (ADSC) have gained acceptance for rejuvenating face and breasts, and stem cells from green apple, lilac and alpine roses are now being integrated as ingredients in topical cosmetics. Facial treatments have gained a significant market share with the availability of plenty of off label products. New technologies to treat excessive sweating, Cryoneuromodulation for wrinkles and eradication of toenail fungus offer new areas for physicians.

Another growth market is for body shaping procedures that involves reduction of fat, cellulite, skin laxity and vein removal. An injectable drug, currently in clinical trials is most likely to become a game changer in body contouring segment in the near future. On July 10, 2014, FDA accepted the filing of a New Drug Application (NDA) for the drug Kybella (deoxycholic acid) by Kythera Biopharmaceuticals. Plug–in at–home devices for treating sun damage, hair removal, skin decoloration, acne, hair growth, skin texture, microdermabrasion, and cellulite continue to expand particularly in developed markets. The aesthetic market is expected to witness a new innovation, the introduction of transepidermal drug delivery technologies for facilitating topical treatments.

Does the Non-Surgical Facelift Exist? Facial Cosmetic Surgeons Demystify Myths Regarding Non-Surgical Facelifts

The Lunchtime Lift … Facelift in a Bottle…Liquid Facelift …Minimally Invasive Facelift… There is a myriad of names for devices, creams, and procedures that profess to be feasible alternatives to Traditional Facelifts. But how do these quick fixes really stack up against the effects of a Facelift?

“A Facelift is a surgical procedure, and by definition, there is no such thing as a Non-Surgical Facelift,” says President of American Academy of Facial Plastic and Reconstructive Surgery. “There is a role for many of the techniques and procedures out there, but they should not be considered substitutes for a Facelift.”

Based on recent statistics from the AAFPRS, Facelifts were the second most common surgical procedure last year, right behind Rhinoplasty.

Facial aging or the aging face involves skin changes such as wrinkles, brown spots and sun damage; dynamic lines from overactive muscles; loss of volume such as hollow cheeks and temples; the loss of elasticity and the pull of gravity that cause skin to sag. “Most of these so-called Non-Surgical Facelift alternatives may target one or two of the signs of facial aging, whereas a Facelift hits all or most of them,” remarks President of American Academy of Facial Plastic and Reconstructive Surgery.

Injectables

Whether soft tissue fillers, fat or Botox®, injectables can help eliminate fine lines and wrinkles and increase volume to sunken areas of the face. The result? A younger, more revitalized appearance. “This is not a Facelift, but can be very effective at reducing some of the signs of aging on the face,” says President-elect, AAFPRS. “There is also minimal downtime with injectables so you can get back to your life right away, but these treatments will need to repeated about every four to nine months to maintain the results.”

Skin Tightening

Devices that employ radiofrequency (RF) energy can help enhance the body’s natural collagen production. Collagen is the protein that gives your skin the structure and support associated with youth, but it diminishes as individuals age. “RF devices stimulate collagen production to firm skin,” says President-elect, AAFPRS. “Ultrasound waves can also give your collagen supply a turbo boost.” They won’t replicate the results of a Facelift, but they can help improve skin quality, tone and texture for people who are not ready to undergo Facelift Surgery. “It’s a tradeoff because the results are not as dramatic as a Facelift, but the downtime and cost associated are much less,” he notes.

Fat Reduction

As we age, fat tends to redistribute throughout the face and neck. For instance, you lose fat where you need it most, such as the cheeks, and gain fat in places where you might not want it, such as the jowls and neck. Facial Plastic Surgeons can provide various choices to remove unwanted fat, such as Liposuction, fat destruction via radiofrequency, Cryolipolysis and Ultrasound. “Liposuction can get rid of double chin or a dreaded Turkey Neck and for some people, that may be enough to make a meaningful difference in their appearance,” says President of American Academy of Facial Plastic and Reconstructive Surgery.

Lasers and Lights

Today’s lasers and light-based energy systems can help treat the skin changes related to aging and many can also help stimulate collagen production. “Laser skin resurfacing offers a host of benefits for the aging face and may buy you some time, but even lasers will not replace the visible results of a Surgical Facelift,” says President-elect, AAFPRS. The deeper ablative resurfacing lasers do require a break between treatments, whereas non-ablative treatments may be repeated at intervals to maintain the skin rejuvenating effects.

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