Cosmetic Dermatology Thrives in Spite of Economy

Article preview from Medtech Insight - September, 2010

While other medical device sectors, such as orthopedics and invasive plastic surgery, experienced a downturn in elective procedures in 2009, cosmetic dermatology procedures--including Botox and facial filler injections--continue on their upward trend. This fact was emphasized by the record attendance at the American Academy of Dermatology summer meeting held in Chicago in August 2010.

Cosmetic Dermatology Thrives in Spite of Economy

Article preview from Medtech Insight - September, 2010

While other medical device sectors, such as orthopedics and invasive plastic surgery, experienced a downturn in elective procedures in 2009, cosmetic dermatology procedures—including botulinum toxin ( Botox) and facial filler injections—continue on their upward trend. This fact was emphasized by the record attendance at the American Academy of Dermatology (AAD) summer meeting held in Chicago in August.

The more than 4,000 dermatologists who attended the AAD—up from 3,000 last year—focused their attention on education, new treatments, and socioeconomic and practice issues. But the true story of the strength of this market was on the exhibit floor, which overflowed with an array of lasers and injectables designed to fulfill the demand for noninvasive anti-aging dermatologic remedies, all of which are cash pay—defying current economic conditions. According to a new online survey of 2,148 adults by Harris Interactive, consumer interest in cosmetic procedures is up—way up, in many cases. More than two-thirds of those surveyed (69%) said they would choose to have cosmetic work done if money wasn't an issue, up 15 points from November 2009, signaling that interest among consumers continues to climb.

Understanding that this was a dermatology meeting and not plastic surgery, it was still quite evident that surgical facelifts are being replaced to a significant degree by a combination of less invasive facial rejuvenation products, including lasers, Botox, cosmeceuticals, and fillers. These products promise a more natural, youthful appearance while requiring less downtime, and they are easier on the pocketbook than surgery since they are paid for incrementally at each treatment session.

The Expanding World of Botox

With Botox, Allergan Inc. has held the lion's share of the neurotoxin cosmetic injectable market since the early 2000s; however, there are now a number of competitors lining up to gain a piece of this $600 million pie. Almost 2.5 million Americans had cosmetic Botox injections last year, according to the American Society for Aesthetic Plastic Surgery (ASAPS), and the market is expected to grow at a solid double-digit rate through 2014.

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