Wrinkles On The Rise Due To Economy
The American Academy of Cosmetic Surgery announces the results of its 2008 Economic Impact Survey. The results reveal that the cosmetic surgery industry has not been exempt from the current economic downturn.
Almost all cosmetic surgeons (95.9%) were concerned about the economic downturn in the U.S. and about eight in ten (79.3%) cosmetic surgeons have already been affected. Additionally, cosmetic surgeons indicated both patient volume and gross billings for cosmetic surgery has declined by about one-third.
When asked about patient choices, cosmetic surgeons indicated more patients were choosing non-surgical and less expensive procedures. Seven in ten (70.6%) indicated that more of their patients were choosing non-surgical procedures such as Botox and other fillers while more than eight in ten (82.4%) said that more patients were choosing less expensive procedures.
"This survey reiterates the struggle consumers have to afford cosmetic procedures," said Dr. Patrick McMenamin, MD, President of the AACS. "We are all feeling the pinch but continue to be optimistic that the cosmetic surgery industry will rebound and in turn grow stronger within the next year."