Vanity will still pay.
Procedures like skin-tightening, new competitors to Botox and devices for body-shaping will continue growth in the aesthetics industry, according to a new report (pdf) out today.
To the surprise of many, not even this industry was recession-proof in 2008. But the report claims innovation will take it from a $5 billion market today to a $8.2 billion industry by 2012, according to a release.
The 500-page study by Medical Insight Inc. suggests, among other things, that neuromodulators will grow by almost 15 percent every year through new new products that compete with Botox. Skin-tightening will grow by more than 21 percent and body-shaping devices will grow by more than 20 percent, according to the report.
“Although the aesthetic device industry contracted in 2008 due to a deepening global recession, consumer demand for cost-effective treatments that address significant age-related problems represent a highly sustainable long-term market,” said Michael Moretti, president of Medical Insight.
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