The projected rise in the demand for plastic surgery globally is proportional to an aging demographic, according to a Business Wire release from Technavio.
In an effort to keep looking as young as they feel, individuals age 60 and older are increasingly turning to cosmetic and plastic surgery. This age group chooses cosmetic procedures to treat scars, wrinkles, and acne. Studies conducted by the International Society of Aesthetic Plastic Surgery support this finding with increased demand for dermal fillers, Botox injections, and implants.
Global plastic surgery products market projections from Technavio expect a growth of almost 9% for plastic surgery products, looking at the compound annual growth rate. Last year, North America dominated the global marketplace for plastic surgery products. In 2014, research studies show record of more than 11 million surgical and nonsurgical aesthetic procedures. The report predicts sales of injectables and implants in North America will continue to increase.
“Studies also report countries such as Brazil, the US and Venezuela account for the highest sales and use of plastic surgery products,” Barath Palada, lead analyst at Technavio, says in the media release.
Demand for cosmetic and plastic surgery also extends to Japan, Australia, India, Singapore, and China. Increased GPD in these countries means consumers in those areas have more disposable income to spend on cosmetic and plastic surgery.
“Dermal fillers have the potential to witness rapid increase in sales due to a shift in consumer preference toward non-invasive, low-cost, anti-aging aesthetic treatments,” Barath shares in the release.
[Source(s): Technavio, Business Wire]