LOS ANGELES, Feb. 7, 2012 (GLOBE NEWSWIRE) -- Driven by aging populations worldwide as well as increased consumer awareness of advanced treatment procedures and technologies, the aesthetic industry remains strong, according to a new Global Aesthetic Market (GAM) study conducted by progressive media company Medical Insight, Inc. (MII). The GAM study compiles data from aesthetic physicians, industry executives, sales representatives, patients and consultants worldwide in order to provide a comprehensive analysis and financial forecast of the industry. In 2011, total sales of aesthetic products covered by the study exceeded $4.9 billion, up from $4.5 billion in 2010 and MII predicts that sales will expand by 13.5 percent per year to $9.3 billion in 2016.
"As the world's population ages, consumers continue to seek ways to look and feel their best, and the aesthetic industry responds by developing new treatments and technologies to combat the external signs of aging," said Michael Moretti, founder of MII. "This consistent innovation is the driving force behind the growth of the aesthetic market and, coupled with an emerging middle class worldwide, will continue to propel all sectors of the global aesthetic industry in the coming years."
As new treatments and tools gain regulatory approval in the next four years, the emerging products segment will experience the greatest annual worldwide growth (at 91.2 percent). Other notable segments whose numbers are projected to grow include physician-dispensed eyelash products such as LATISSE® (17.9 percent), neuromodulators (12.1 percent), skin tightening/body shaping devices (12 percent) and dermal fillers (10 percent).
In addition to sales figures, GAM surveys chart growth by geographic region. The dynamic Asian economy is a key factor in the worldwide global aesthetic market and is projected to show the highest growth (18.1 percent per year) through 2016, followed by Latin America (13.9 percent), Europe (13.1 percent) and North America (12.1 percent). Though North America is the single largest regional market for aesthetic services, it is also the most mature; therefore, virtually every application will grow at a somewhat slower pace than in other regions.
MII provides custom reports and confidential market studies in order to forecast trends and keep industry leaders ahead of the curve, working closely with Allergan Medical, Cutera, Inc., Cynosure, Medicis Aesthetics, Inc., Merz Aesthetics, Obagi Medical Products, Inc., Palomar Medical, PhotoMedex, Inc., Stiefel, a GSK Company, Solta, Syneron and ZELTIQ Aesthetics.
To learn more about Medical Insight, Inc., please visit www.miinews.com. To register for THE Aesthetic Show 2012, the leading multidisciplinary medical education meeting for aesthetic professionals please click here.
About Medical Insight, Inc.
Medical Insight, Inc., a progressive media company specializing in medical aesthetics, produces the leading trade publications and live events in this sector. Founded by Michael Moretti in 1993, MII collects and reports industry data on procedure volume and revenues, product sales, new product introductions, market forecasts and trend analysis. For information on research services offered by MII, visit www.MiiNews.com, or follow MII on LinkedIn, Facebook or Twitter.