The booming aesthetic industry will not be deterred, despite a current but temporary downturn in overall business, as new aesthetic technology and products will boost industry sales to $8.2 billion by 2012, according to a new Global Aesthetic Market (GAM) VI research report from Medical Insight Inc.
The report states that new skin tightening and body shaping devices, dermal fillers, and neuromodulators (such as Botox Cosmetic) will drive double-digit growth in the field. Highlights from the report include the following:
* Skin tightening will expand by 21.3% per year, from $79.3 million in 2008 equipment revenues to $171.4 million in 2012;
* Body-shaping devices will rise from $361.9 million in global supplier sales to $752.9 million by 2012, for 20.1% annual growth;
* Dermal filler sales will expand by 15.6% per year from $822.6 million in 2008 to $1.4 billion in 2012;
* Neuromodulators will grow by 14.8% annually from $898.6 million in 2008 to $1.5 billion in 2012, with the introduction of new products to compete with Botox.
Procedure volume for all aesthetic treatments will rise by 5.6% per year, from 81 million in 2008 to 101 million in 2012. During this time, total fees earned by practitioners will expand by 6.1% annually, from $31 billion to $39 billion.