Cosmetic surgery continues to gain popularity, despite the current economic slump. Although cosmetic surgery procedures declined in 2008, industry experts are predicting a turnaround, with steady growth through 2012.
Common sense suggests that in these rough economic times, the cosmetic surgery industry would be among the first to suffer. But the current figures are showing something else.
After a slump in 2008, the plastic surgery industry is back on the rise.
Cosmetic surgery suffered a decline last year pretty much across the board. The American Society of Plastic Surgeons noted that surgical procedures in the United States were down 9 percent.
Procedures in California were down even more – with a whopping 30 to 40 percent drop during the second half of 2008, compared to the year prior – which means revenues were down by tens of millions of dollars, as well.
But the call for cosmetic surgery is back in force and is expected to grow almost 8.5 percent each year through 2012. This is according to a study from international research firm The Freedonia Group, which also finds that less invasive procedures, like Botox injections, are most likely to be in growing demand.
The reason for the industry climb, according to cosmetic surgeon and author Dr. Jean Loftus, is that plastic surgery has become a logical way to improve life. When people feel they can change not just how they look, but how they feel about themselves, they become focused on making this happen.
And it doesn’t hurt that doctors offer inexpensive in-office procedures and special patient incentives, like freebies and discounts. For these reasons, Loftus says, the cosmetic surgery industry will recover from our national economic slump faster than many others.
August 12th, 2009 at 3:08 am
There were reports earlier this year of an increase in cosmetic surgery due to the economy and unemployment rate. Apparently some people were seeking surgery to enhance their looks and their likelihood of employment!