NEW YORK, Jan. 4, 2011 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
US demand to grow 6.5% annually through 2014
Demand for products used in cosmetic surgery is forecast to increase 6.5 percent per year to $2.8 billion in 2014, when 16.1 million cosmetic procedures are expected to be performed. The economic recession that began in December 2007 impacted the cosmetic surgery industry most profoundly in surgical procedures, which suffered large drops in 2008 and 2009. Likewise, demand for equipment used to perform these surgeries fell more sharply than did that for less expensive, non-invasive nonsurgical procedures. Busy lifestyles and pervasive unemployment rates have led to rapid increases in demand for minimally invasive procedures (such as injections and laser-based procedures). Minimally or non-invasive procedures will continue to take market share from invasive surgeries, although healthy growth will remain in some areas, such as implants, where there are no notable alternatives.
Lasers, other light-based equipment to remain largest, fastest-growing
Equipment has traditionally held the largest share of the cosmetic surgery product market, and in 2009 accounted for over one-third of demand. Purchases of equipment were slowed by the recession and should see a strong rebound. Lasers and other light-based systems will continue to be the largest sector of equipment demand, and will see the fastest growth going forward as new laser-based treatments such as noninvasive liposuction enter the market.
Injectables and implants fastest-growing products
Through 2014, injectables and implants will continue to be the two fastestgrowing product segments. Growth in demand for injectables has boomed since the 1990s when BOTOX (Allergan) first entered the market. Cosmetic injections benefit from increasing societal acceptance as well as high consumer awareness of their ability to provide a quick, noninvasive reduction in wrinkles with no recovery time. With 2009 and 2010 market approvals of competing botulinum toxin-based injectables, BOTOX is seeing its first direct competition, which is expected to have significant impact on the market. Development of newergeneration soft tissue fillers will also continue, with this segment expected to see the fastest gains among injectables. Implants will continue to benefit from silicone's market re-entry in 2006, as breast implants -- the most common aesthetic surgical procedure -- remain fast-growing. Next-generation implant materials (so-called "gummy bear" implants) are forecast to enter the market once they receive FDA approval following clinical testing. These higher-value implants will drive further value gains.
Cosmetic Surgery Products presents historical demand data (1999, 2004 and 2009) plus forecasts for 2014 and 2019 by procedure, product and raw material. The study also assesses key market environment factors, evaluates company market share and profiles 29 US industry competitors.
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