Americans spent over $16 billion on cosmetic procedures last year!
The medical aesthetics industry is a high growth industry. Over the past ten years, procedures have generated a tremendous amount of revenue, creating jobs and substantial business opportunities. And over the past year alone, the medical aesthetics industry increased by $3 billion!
The concept of medical aesthetics moving into new markets is fueling the fire of this business boom. Medical aesthetic treatments are non-invasive and are performed not only in medical spas and doctor’s offices, but also gyms, OBGYN’s, hair salons and dentist offices.
Among the 15.4 million cosmetic minimally-invasive procedures performed in 2016, the top 4 were:
1.Botulinum Toxin Type A (7 million procedures, up 797 percent since 2000)
2.Soft Tissue Fillers (2.6 million procedures, up 298 percent since 2000)
3.Chemical Peel (1.3 million procedures, up 18 percent since 2000)
4.Laser hair removal (1.1 million procedures, up 51 percent since 2000)
This high growth is not surprising because it reflects a healthy and robust marketplace where many people can afford to and choose to invest in themselves. In the past, people viewed medical aesthetic treatments as a luxury. But now, people view medical aesthetic treatments as essential to be competitive in the workforce. Moreover, youth is an asset, and people are investing in themselves to achieve a younger, healthier appearance.
The following statistics released by the American Society of Plastic Surgeons (ASPS) show continued growth in cosmetic procedures over the last year, and a shift in the types of procedures patients have chosen since the start of the new millennium.
– According to the annual plastic surgery procedural statistics, there were 17.1 million surgical and minimally-invasive cosmetic procedures performed in the United States in 2016, a 3 percent increase over 2015.
– Between 2000 – 2015, the total number of non-surgical cosmetic treatments performed has increased by more than 36 percent.
– The two most popular injectables year-over-year, botulinum toxin and hyaluronic acid, both saw continued growth, with botulinum toxin, (BOTOX, Dysport and Xeomin) surpassing 7 million procedures performed and hyaluronic acid, (Juvederm Ultra, Ultra Plus, Voluma, Perlane, Restylane, Belotero) surpassing the 2 million procedures performed. Together, patients spent over $4 billion on these treatments.
– Minimally invasive procedures are becoming more common and accepted by men, and we’re seeing more of them undergo laser procedures to tighten and tone problem areas as well as relax wrinkles with Botox and fillers.
– In recent years, more millennials are turning to Botox to prevent wrinkles. Botox use among millennials aged 19 to 34 increased by 87 percent between 2011 and 2016.