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Cosmetic Surgery Market: Current Trends
Date Published: 30 Dec 2008

By Sreyashi Dutta, Healthcare

The 21st century has witnessed a large portion of the society seeking solutions to combat the effect and the damage caused by a number of factors which includes overexposure to the sun, poor nutrition, sedentary lifestyle, and the damaging effects of polluted environment. The advance in technology and minimally invasive surgical techniques and procedures has made cosmetic surgery increasingly attractive to a wide range of demographics.

This trend among the population seems to be reflecting a desire to curb the effects of aging, unhealthy lifestyle etc. It is also noted that individuals of age group 25 to 35 years old are also engaging in the minimally invasive cosmetic procedures such as Botox and laser skin resurfacing as well as dermabrasion. Statistics also show that men are among the growing number of individuals seeking cosmetic and plastic surgery, especially with minimally invasive treatments. It was found that liposuction is one of the most popular cosmetic surgery procedures in the UK according to a recent survey by Opera North.

Obesity is another serious issue in Europe today. Sedentary lifestyle and consumption of under-nutritious food has tripled the incidences of obesity in the past two decades in England alone. According to the government reports it is found that 10% of men and 15% of women are now obese. Ill effects of obesity includes a higher risk of heart disease, diabetes, high blood pressure, stroke, osteoarthritis, cancer and gall stones - as well as possible depression and low self esteem.

According to recent statistics, the top procedures in cosmetic surgery include:

  • Breast augmentation
  • Breast lift
  • Dermabrasion
  • Tummy tuck
  • Botox treatments
  • Laser skin resurfacing
  • Weight-Loss Surgery

2008 saw a large increase in injectable and noninvasive treatments such as Botox, as well as breast augmentation procedures. In Europe Studies have shown that there has been an increase in cosmetic surgery and treatments across Europe, with nearly 10% increase since the turn of the new century. According to the American Society of Plastic Surgeons, the global market now exceeds $30 billion, with a sustainable compound annual growth rate in the range of 25%. In Europe it is found that the market for cosmetic surgery alone is about $2.2 billion with a CAGR of 19% (source: Frost & Sullivan).

Europe is the second largest market for cosmetic procedures after the United States. In Europe, most of these products are broadly classified under the entity "medical device" and so only need to obtain a 'Conformit'e Europeene' certification, which is a relatively cheaper and quicker process unlike seeking for FDA approval in the United States. Thus this helps the manufacturing companies to easily launch the products in Europe and begin their brand building process.

It is analyzed that the driving force for the cosmetic surgeries market is the ageing profile of Europeans that reflects the desire of people to stay young and continue to hold the social image. Various campaigns and awareness programmes related to obesity have also increased the awareness to stay fit and young. In addition, celebrities who endorse cosmetic procedures make the campaign look more attractive.

With beauty no longer restricted to being a woman's forte, men have also started to explore the advantages offered by cosmetic therapy. They mostly prefer to have procedures such as nose reconstruction, eyelid surgery and liposuction.

In case of tackling obesity, patients no longer have to diet or exercise solely as a near-instant cure for obesity. The availability of better treatment options across the country, more accessible medical institutions, and better patient awareness are some factors fueling the trend of increased surgical procedures.

However, the biggest challenge that is faced by this industry lies in the expense of the treatment itself. The expenses of the treatment are borne completely by the patient themselves as these treatments are not included in insurance. In Europe, plastic and reconstructive surgeries procedures are reimbursed if they are unavoidable and unforeseen. In the case of treatment of obesity the reimbursement policies differ for different countries within the European Union.

In the area of implants, growth is likely to be driven by silicone-filled breast implants.

The scare caused by leaking implants in the past had led these silicone fillings to be banned by the FDA, but the latest products in the market, known as the fifth generation, are known to be as much less susceptible to ruptures and are also approved by the FDA. Likewise, Botox treatments are likely to remain a strong area of growth in the injectables market, which is again further boosted by newly FDA approved fillers such as calcium hydroxylapatite and polymethylmethacrylate microspheres.

Light-based treatments available in the market benefits the customer by offering solutions for a range of beauty issues which include hair removal, removal of tattoos, cellulite reduction and skin rejuvenation/anti-aging treatments.

Overall it can be safely predicted that the market for cosmetic surgery is set to grow with an increasing demand among both men and women as it incorporates both health issues as well as the modern desire to look young and attractive for as long as possible.

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