BODY SHAPING AND SKIN TIGHTENING DRIVE GLOBAL AESTHETIC INDUSTRY TO $15 BILLION BY 2011
Global Aesthetic Market Study from Medical Insight, Inc. Charts Growth Path with Comprehensive Data and Forecasts
ALISO VIEJO, Calif., July 30, 2007 /PRNewswire via COMTEX/ -- 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 $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 $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. "U.S. fee growth will outpace that of the rest of the world as the U.S. 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 $400.6 million.
Public companies detailed in this report include Allergan , Candela , Cutera , Cynosure , Iridex , J&J , Medicis , Mentor , Obagi , Palomar , P&G , Syneron and Thermage . Numerous private companies, including many new ventures, are also profiled.
The Global Aesthetic Market Study provides critical information on every segment of the aesthetic industry including skin tightening systems, body shaping devices, dermal fillers, laser and light-based equipment, botulinum toxins, emerging skin rejuvenation technologies, home-based aesthetic devices and anti-aging topicals.
For more information and to preview a Table of Contents and Executive Summary, visit www.miinews.com.
About Medical Insight, Inc.
Medical Insight, Inc. is the industry leader in sector and custom market research. Led by founder Michael Moretti, Medical Insight, Inc. has reported data for over 20 years on procedure volume, revenues, product sales, new product introductions, market forecasts and trend analysis.
SOURCE Medical Insight, Inc. marketwatch.com
|