The cosmetic surgery, facial aesthetics and medical lasers market is expected to double in size by 2017, exceeding $3 billion, according to a new report by by iData Research, a medical device and pharmaceutical market research company.
The report estimated that the market for Botox and Dysport, botulinum toxin-A injectables, is estimated to grow to $543 million by 2017. It also anticipated that the aesthetic laser and light therapy markets for skin resurfacing, hair removal, and laser lipolysis will be the fastest growing cosmetic procedure markets in the next seven years.
Dr. Kamran Zamanian, CEO of iData, had this to say: “Allergan has had a monopoly on botulinum toxin A drugs since 2002, but now faces competition from Dysport(R) by Medicis as well as other new competitors expected to enter the market. Allergan and Medicis have been fierce rivals, as their Juvederm and Restylane facial dermal fillers compete in the lucrative dermal filler market.”
The report also said that competition in the botulinum toxin market will further intensify with expected newcomer PurTox by Mentor. According to Mentor, PurTox is in Phase III clinical trials in the U.S.
The use of botulinum toxins is also expected to increase due to a growing number of therapeutic treatments that go beyond filling wrinkles. “A growing number of doctors are looking at the therapeutic potential of Botulinum-A. There are more cosmetic procedures performed using Botulinum-A than therapeutic, however therapeutic procedures use higher doses of the drug, therefore these two markets are similar in value,” says Dr. Zamanian.
Currently the U.S. injectables market for is valued around $860 million, according to the report “Markets for Cosmetic Surgery, Facial Aesthetics and Medical Laser Devices 2011,” which includes data, analyses, and competitor profiles for botulinum toxins, dermal fillers, breast augmentation implants, liposuction aspirators, laser/light devices, and microdermabrasion.
New statistics from the American Society of Plastic Surgeons show a possible shift in the popularity of certain cosmetic surgery procedures, most notably with breast augmentation. According to the latest A.S.P.S. figures from 2008, eyelid surgeries have grown to number in the top 3 surgical procedures, and breast augmentation procedures have exceeded liposuctions for the first time.