Despite the Economy, Cosmetic Surgery Continues to Grow
While across the United States, so many industries are struggling, it’s good to see that the cosmetic surgery industry continues to grow, albeit somewhat more slowly than it did in the mid-2000’s. Many people across the US are still reserving income for plastic surgery, liposuction and cosmetic procedures. As the baby boomers age and people across the country want to turn back the clock and look their best, this industry continues to grow.
It seems that, according to a recent report by the American Society of Plastic Surgeons, as the economy improves so do the cosmetic surgery procedure rates. In 2011, 13.8 million cosmetic and plastic surgery procedures were completed in the United States. This accounts for a 5% increase over the number of procedures in 2010. While the economy is growing very slowly, it does seem that as the economy improves, more people feel comfortable spending their disposable income on cosmetic surgery and less invasive cosmetic procedures.
The highest rise in cosmetic surgery procedures occurred in facelifts, which is up 5% year over year. This was followed by breast augmentations which were up 4%, and liposuction which is up 1%. As the population ages, facelifts continue to become more popular, while liposuction continues a slow growth trend. While these procedures increased in rate, they were not the largest growth segment in the industry.
One of the most interesting aspects of the report is that the most substantial increase in cosmetic surgery procedures is coming from the more noninvasive procedures. These are all anti aging techniques that can make an impact but are easier on patients. For example, Laser Hair Removal procedures have increased over 15% and microdermabrasion is up 9%. There were also increases in botox, soft tissue fillers and chemical peels. These procedures are less expensive and less invasive and gaining popularity as more celebrities and well known personalities use them and publicize them.
As the technologies around cosmetic surgery improve and procedures become less invasive and involve faster healing times, it seems as though this sector will continue to grow the fastest in the industry. It will be very interesting to see what 2012 brings!
Originally Published Feb 13, 2012