Article preview from Medtech Insight - January 1, 2011
Medtech start-ups are jumping aboard the lucrative fat reduction trend, and all signs point to a boom in this market in the coming years. Despite the sluggish economy, consumers are still willing to pay out of pocket for procedures that enhance their looks. According to the American Society of Plastic Surgeons, 12.5 million cosmetic surgical and nonsurgical procedures were performed in the US in 2009. That's down 1% from 2008, but up 69% from the start of this decade.
Article preview from Medtech Insight - January 1, 2011
Medtech start-ups are jumping aboard the lucrative fat reduction trend, and all signs point to a boom in this market in the coming years. Despite the sluggish economy, consumers are still willing to pay out of pocket for procedures that enhance their looks. According to the American Society of Plastic Surgeons, 12.5 million cosmetic surgical and nonsurgical procedures were performed in the US in 2009. That's down 1% from 2008, but up 69% from the start of this decade.
But the real story is the recent shift from invasive to noninvasive cosmetic procedures. The number of invasive cosmetic surgical procedures in 2009—including breast augmentations, rhinoplasties, eyelid surgeries, and tummy tucks—was 20% lower than in 2000. In contrast, the number of minimally invasive/nonsurgical cosmetic procedures, including botulinum toxin injections, cellulite treatments, and soft-tissue filler procedures, increased 1% percent in 2009 to nearly 11 million procedures and has grown a whopping 99% since 2000. Translated into dollars, of the nearly $10.5 billion spent on cosmetic procedures in the US in 2009, $4.5 billion of it was for ever more popular nonsurgical treatments, according to the American Society for Aesthetic Plastic Surgery.
Indeed, since 2002, when Allergan Inc.'s botulinum toxin type A ( Botox) was FDA cleared to temporarily improve the appearance of moderate-to-severe frown lines between the eyebrows, and everyone from Hollywood celebrities to suburban soccer moms flocked to this facial wrinkle reducer, aesthetics has been undergoing an irrevocable turn away from the knife. Patients are seeking less costly treatments that produce natural looking results with no downtime or pain.
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