Med Spa Economic Update
According to the American Society for Aesthetic Plastic Surgery (ASAPS), there have been 10.2 million cosmetic procedures performed in 2008. A study by The Aesthetic Society says the overall number of cosmetic procedures has increased 162% since the collection of the statistics first began in 1997. They also found that the most frequently performed nonsurgical procedure was Botox injection (Aesthetic Medicine News).
Baby boomers are working longer and are constantly seeking to improve their physical appearance in order to remain competitive with their younger job competitors. Also, baby boomers do not want to experience long recoveries as they continue to work and prefer procedures that are relatively painless and those that result in very little down time. Both of which describe the majority of procedures offered by Medical Spa’s.
International beauty expert Wendy Luis stated, “Anti-aging skin care shows no signs of slowing down. If anything we can see more consumers are tightening their belts in the economic downspin." Everybody is downsizing and putting off big cosmetic surgery and choosing to go with Botox, Restylane or pro laser treatments to turn back the clock. Anti-aging products are currently among the leading product category in the United States. Global skin care markets have no fear of being threatened by a suffering economy. Skin care is the largest of all cosmetics and toiletry industries and it is the fastest growing historically by forecast. Savvy consumers want products and procedures that reverse, stop or prevent the signs of aging. As there is less available money to spend on anti aging techniques, consumers will educate themselves to products and procedures that are more economical and best suited to their specific needs.
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