Aesthetics Market: Fillers May Offer Bright Spot in Tough Times
Article preview reprinted Medtech Insight - May, 2009
Signs point to a suppressed market for all aesthetics products for at least the remainder of 2009, but there's some evidence that dermal fillers have escaped the worst effects of the economic downturn. The American Society of Plastic Surgeons reports that while there was a 5% decrease in facelifts in 2008, the use of hyaluronic acid fillers was up by 6%, although dermal filler sales started to take a hit in the final quarter of the year. Find out more...
Aesthetics Market: Fillers May Offer Bright Spot in Tough Times
Article preview reprinted Medtech Insight - May, 2009
Last year at this time, participants and investors were wondering if the economic downturn was going to have a negative effect on the aesthetics market. Since then, the country's financial woes have officially turned into a recession, and the debate is no longer focused on whether the economic downturn will negatively affect business, but rather on how much, for how long, and where. Data suggests more expensive, invasive procedures involving plastic surgery have been hit the hardest while cheaper and less invasive treatments, such as dermal fillers, could be faring much better in certain cases. However, keep in mind that in the current environment, "performing better than other segments" can simply mean not seeing as big a drop off. Signs point to a suppressed market for all aesthetics products, including dermal fillers, for at least the remainder of 2009, but there are other factors at play here beyond the economy.
Dermal Procedures Show Some Resiliency
Some had speculated that the dermal market might escape the negative effects of the economy by picking up new business from patients foregoing more invasive plastic surgery treatments. There's some evidence to support that conjecture, starting with a survey from the American Society of Plastic Surgeons (ASPS), which found that use of hyaluronic acid (HA) fillers—the most common type of filler material—by the association's members was up 6% in 2008. Additionally, poly-L-lactic acid (PLLA) fillers, a permanent material used in only a small portion of the market, were up 5%.
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Companies mentioned in this article:
Allergan Inc., Anika Therapeutics Inc., Artes Medical Inc., BioForm Medical Inc., ColBar LifeScience Ltd., Ipsen, Johnson & Johnson, Ethicon Inc., Mentor Corp., Medicis Pharmaceutical Corp., Solstice Neurosciences Inc.
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