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ALISO VIEJO, Calif., Aug. 4 /PRNewswire/ -- Over the next five years, new body shaping and skin tightening technologies will drive double-digit growth in the global aesthetic industry, according to the just-released Global Aesthetic Market V research report from Medical Insight, Inc.
The GAM V study, which is the only published report providing comprehensive and in-depth global analysis of the entire $5.2 billion aesthetic industry, describes in detail how these relatively new categories will play prominent roles in escalating industry sales, projected to reach $8.9 billion by 2012. Among highlights in the fifth edition of this semi-annual forecast:
-- Body Shaping, the larger of the two businesses, will grow from $384.5 million in global supplier sales to $809.6 million by 2012, for 22.7% annual growth;
-- Skin Tightening will expand from $110.7 million in equipment revenues to $206 million in 2012, reflecting 18.9% annual growth;
-- Energy-based devices will earn manufacturers more than $1.6 billion in 2012, growing by 6.3% per year from $1.1 billion in 2008 after a slight decline in early 2008.
"Although the aesthetic device industry experienced a contraction in the first two quarters of 2008 due to a weaker U.S. economy with reduced spending, the body shaping and skin tightening sectors will drive overall growth of 13% per year in the aesthetic market," said Michael Moretti, president of Medical Insight, Inc. and editor of the GAM V study. "These two sets of technologies address a major problem associated with aging that until now, has not been solved. Combined, these two segments will represent more than $9 billion in physician fees and over $1 billion in device sales revenues by 2012."
Public companies detailed in GAM V include Allergan, Bioform, Candela, Cutera, Cynosure, Medicis, Mentor, Obagi, Palomar, Syneron, Thermage and more than three dozen others, including the leading startup players.
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| SOURCE Medical Insight, Inc. Copyright©2008 PR Newswire. All rights reserved |
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