The cosmetic industry is growing—but how long will it take to double in size? Seven years, according to Vancouver-based iData research. Cosmetic Surgery Times recently reported that the market for cosmetic surgery, facial lasers and aesthetics is expected to surpass $3 billion by 2017 based on the latest market research.
iData reported that the market for botulinum toxin A drugs alone—such as BOTOX —will reach an estimated $543 million in seven years. The report also highlighted that the fastest-growing market segments are laser and light therapy for skin resurfacing, laser lipolysis and laser hair removal.
The aesthetic facial injectable market in the U.S. is currently valued at almost $860 million. The future introduction of new products on the market—such as Mentor’s PurTox—and the therapeutic possibilities of said products are expected to advance the market’s growth.
Kamran Zamanian, Ph.D., CEO of iData, says, “A growing number of doctors are looking at the therapeutic potential of botulinum A. There are more cosmetic procedures performed using botulinum A than therapeutic; however, therapeutic procedures use higher doses of the drug, therefore these two markets are similar in value.”
It will be interesting to see if these predictions do come true, and even if cosmetic surgery in NYC & Long Island will exceed its expected growth. We will have to wait until 2017 to find out!
To Better Health and Beauty,
The Advanced Cosmetic Surgery Team
*BOTOX® Cosmetic is a registered trademark of Allergan, Inc.