Frost & Sullivan: Innovative Cosmetic Procedures Propel Global Medical Tourism
MOUNTAIN VIEW, Calif. – XX, 2011 – Medical tourism is set to grow globally in face of innovative cosmetic procedures. The demand for non-invasive cosmetic procedures such as radio frequency and laser-based methods are increasing. However, unfavorable insurance practices and lack of reimbursement for cosmetic procedures in western countries are driving many potential customers to look for economical alternatives in South America and Asia.
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“In the past, aesthetic professionals from Asia traveled to the West–USA, Europe, Canada and UK–to learn and practice advanced cosmetic procedures, a few of which include liposuction, blepharospasm, rhinoplasty and breast augmentation,”
With globalization tending to be a Mega Trend, several pharmaceutical and medical device companies have developed business models to supply innovative and new cosmeceuticals and therapeutic products at competitive prices to Asian customers. These companies find it easier to enter Asian markets, as most regions have less regulatory expectations and offer ease of collaboration with local manufacturers.
“However, region-specific pricing remain to create huge competition among cosmetic product manufacturers,”
To increase corporate growth, effective methods to leverage intellectual property (IP) strength and build successful brand value by hiring competitive talent are likely to be more crucial than an exit strategy in increasing corporate growth than an exit strategy.
Frost & Sullivan research estimates there is a demand for plastic surgeons that have created a reputation for procedures such as liposuction, breast augmentation, and buttock augmentation in Brazil and Mexico. Moreover, the Brazilian Government imposes lesser tax rates and tax deductions for cosmetic surgery as a means of facing the global recession.
With regard to technology, more hybrid lasing techniques such as Triactive+, VelaShape, MedSculpt and MedContour are poised to dominate the cosmetic procedures market. High-intensity pulsed light is gaining more popularity and is accepted widely as a non-ablative alternative to microdermabrasion, chemical peel and laser resurfacing. Epidermal leveling is a relatively new procedure that offers benefits when combined with chemical peels and lasers.
Among the existing dermal fillers, commercial fillers that mix hyaluronic acid and lidocaine reduce pain before and after the procedure with adoption increasing globally. Other fillers such as polymethlymethacrylate (PMMA) have proven to be long-lasting injectable microimplants for subdermal augmentation. Despite leveraging superior micro/nano particle technologies in the existing dermal fillers, technical barriers in the form of increased cross-linking and slow body resorption remain as major issues for customer adoption.
Technology Trends in Cosmetic Procedures, a part of the Technical Insights subscription, provides information on technology trends and developments alongside some recommendations in the market of cosmetic products and associated aesthetic procedures. It also lists the major applications and potential markets where cosmetic products can be used, along with key disruptive technologies that might influence the market for cosmetic procedures. Further, this research service includes detailed technology analysis and industry trends evaluated following extensive interviews with market participants.
Technical Insights is an international technology analysis business that produces a variety of technical news alerts, newsletters, and research services.
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Technology Trends in Cosmetic Procedures
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