Cosmetic Dermatology Thrives in Spite of Economy
While other medical device sectors, such as orthopedics and invasive plastic surgery, experienced a downturn in elective procedures in 2009, cosmetic dermatology procedures--including Botox and facial filler injections--continue on their upward trend. This fact was emphasized by the record attendance at the American Academy of Dermatology summer meeting held in Chicago in August 2010.
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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.
Although no major breakthroughs were reported at this year's American Academy of Dermatology meeting, participants emphasized ongoing progress in existing aesthetic technologies. The dermal filler market proved to be one of the most dynamic topics. Although growth is expected to slow somewhat in the next three years, the worldwide market for dermal fillers is projected to continue to grow at double digit or near double-digit rates, approaching $950 million by 2010.
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