Body shaping and skin tightening drive global aesthetic industry to $15 bln by 2011
Over the next five years, the emerging market segments of body shaping and skin tightening will be prime catalysts behind unprecedented growth in the global aesthetic industry, according to the just-released Global Aesthetic Market research report from Medical Insight, Inc.
This report, which provides in-depth analysis and a five-year forecast of the €6.1 billion ($8.4 billion) global aesthetic industry, indicates these relatively new categories will play prominent roles in record industry growth, projected to increase by 12.5% annually and reach €11.19 billion ($15.3 billion) by 2011.
Among highlights in the newest edition of this annual market study:
Total worldwide sales of aesthetic equipment, currently estimated at $1.2 billion, will rise by 10.3% per year, reaching over $1.9 billion; in 2011.
Total related fees will grow 16.1% annually, to $34.9 billion during the same period.
Body shaping and skin tightening devices will drive aggressive expansion in the device category, with CAGRs of 20.7% and 15.7%, respectively, escalating from $231.6 million in 2006 to $564.5 million in global sales by 2011. „Five years ago, skin tightening and body shaping were pipeline industries, embraced by forward-looking companies seeking to expand market share,” said Michael Moretti, President of Medical Insight, Inc. and editor of the 400-page Global Aesthetic Market Study.
„The rapid emergence of energy- based technologies and innovative devices are creating new sources of revenue for brands currently in the market and will pave the way for others to enter the field. These modalities will also drive growth in the lucrative non- physician aesthetic category, including medispas and corporate franchises.” Body shaping encompasses a range of procedures that target size and weight reduction, as well as toning, firming and cellulite treatment. Skin tightening procedures address wrinkles and skin laxity on the face and body.
In 2006, over 14 million procedures were performed in this category, generating in excess of $4 billion in practitioner fees. „By 2011, we'll see more than 36 million procedures in these areas, producing over $8 billion in professional fees,” according to Moretti. „US fee growth will outpace that of the rest of the world as the US continues to support strong demand and high pricing.”
Another important factor expanding manufacturer revenues in this space is sales of disposable components for aesthetic devices. Over the next five years, sales of disposables are expected to rise strongly by 39.7% per year to more than €293 million ($400.6 million). (media.prnewswire.com)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.