According to report findings from IMCAS, the global market for cosmetic surgery procedures is expected to increase by a margin of 10 percent come 2013. The report from the French-based forum for dermatologists and plastic surgeons indicates that this is almost the exact growth rate recorded in the previous year (2012).
In 2012, surgical procedures like breast augmentation and liposuction as well as non-invasive treatments like anti-wrinkle injections and lasers totaled $6 billion (about 4.4 billion euros). The report indicates that the estimated revenues from the same are expected to be about 4.9 billion euros come this year.
The Asian continent is expected to clock a record 14 percent in market growth due to the increasing demand for cosmetic procedures such as nose and eyelid surgery. This is completely opposite to what is being observed in the European market which is expected to increase by 6.6 percent. This dwindling market growth can be attributed to low demand for anti-aging treatments especially for people over the age of fifty due to austerity policies which were being implemented.
According to findings of the report, a scandal that rocked the cosmetic industry back in the year 2012 may also have contributed to the low market growth. The scandal which involved manufacture and use of faulty implants dealt a major blow on the demand for breast augmentation products and procedures; the global demand for this cosmetic procedure grew by 1.9 percent compared to a decline of 9.2 % in Europe. The implants which were widely used by plastic surgeons in Latin America and Europe were being made using unauthorized silicone-filler by a French-based company, Poly Implant Prothese.
Regardless of all the challenges faced, the report says that the market for breast augmentation procedures will recover and it is expected to post a yearly growth rate of about 5.2 percent between the year 2013 and 2017.
Source article: http://news.yahoo.com/global-cosmetic-surgery-set-grow-10-percent-2013-231616763.html