The American Academy of Cosmetic Surgery (AACS) has revealed the results of its 2008 Economic Impact Survey, which illustrates that the cosmetic surgery industry has not been exempt from the current economic downturn.
According to the results, 95.9% of cosmetic surgeons surveyed were concerned about the economic downturn in the U.S. and 79.3% cosmetic surgeons have already been affected. Additionally, cosmetic surgeons indicated both patient volume and gross billings for cosmetic surgery has declined by about one-third. Seven in ten cosmetic surgeons surveyed indicated that more of their patients were choosing non-surgical procedures such as Botox and other fillers while more than eight in ten said that more patients were choosing less expensive procedures.
“This survey reiterates the struggle consumers have to afford cosmetic procedures,” said Patrick McMenamin, MD, President of the AACS. “We are all feeling the pinch but continue to be optimistic that the cosmetic surgery industry will rebound and, in turn, grow stronger within the next year.”
[Source: American Academy of Cosmetic Surgery Web site]
