Industry Analysis & Industry Trends
Augmented industry growth
Demand for plastic surgery has been on the rise thanks to factors including the aging population, favorable public perception and technological advances. Despite consistently rising demand for the number of surgeries, industry revenue and profit margins took a hit during the recessionary years of 2007 through 2009. As the economy and incomes recover, demand will increase at a greater pace. Still, revenue is forecast to be somewhat restrained by mounting competition from medspas, which offer various nonsurgical procedures that make up a considerable and expanding portion of industry demand. As competition heightens, operators will be forced to reduce prices on numerous procedures, contributing to downward pressure on operating profit.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Plastic Surgeons industry is in the growth stage of its industry life cycle. Although industry revenue and profit growth slowed marginally during the recession, the industry is expected to grow faster than the economy during the 10 years to 2018. During that period, IBISWorld estimates that the industry's contribution to the overall economy, measured by industry value added (IVA), will increase at an average rate of 3.8% per year, compared to annual GDP growth of 2.1% over the same period.
This industry relies on a relatively fast pace of technology and systems change. While plastic surgeons are constantly honing their craft and developing new techniques, major pharmaceutical companies are also developing new products to market to consumers... purchase to read more