Cosmetic surgery diversifies during recession
28 May 2009A recent report from Research and Markets indicates that the current global recession has caused the cosmetic surgery market to diversify. The Cosmetic Surgery Market Report 2009 revealed that the cosmetic surgery industry continued to grow in 2008, despite the economic situation. The year's end saw the estimated value of the total market (including non-surgical procedures) reach £536m, indicating a rise of 8.7 per cent. It was also discovered that the market is seeing an increasing level of diversity, with operators and customers focussing on new non-surgical treatments and other procedures, such as hair removal treatments. This increase is believed to be partly driven by the technological advances in the non-surgical field, the appeal of short recovery times for customers and the comparatively lower prices - which are particularly attractive during the recession. For example, both injectable fillers and laser technology grew both in technological advancements and in the public's awareness in 2008. Additionally, the report found that the demographics of the cosmetic customer base are shifting, with the male market moving faster than the female one in the US and possibly the UK too. The media's interest in cosmetic surgery was also found to remain strong, with many consumers demonstrating an interest in stories about celebrities' cosmetic procedures. The study surmises that the industry will continue to work closely with the government to establish tight legislations while simultaneously recognising market conditions. A successful consideration of the two should see a healthy and durable future for the field.