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Cosmetic Surgery Market Report
Key Note Publications Ltd, January 1999
Cosmetic surgery has become an increasingly acceptable lifestyle decision to a growing range of people in the UK. Advances in technology, increasing competition and the introduction of fixed-price and loan schemes have made it an accessible option for many people of average income, in spite of the fact that it is not covered by private medical insurance. Plastic surgery is only available on the National Health Service (NHS) for those with a clear functional or psychological need, but even this can be sensitive to budget restrictions and funding cuts.
In volume terms, liposuction and liposculpture are expected to have been the most commonly performed procedures in 1999 (16.2%), followed by breast augmentation (9.5%), collagen or fat therapy (8.8%) and laser treatments (6.7%).
Consumer research carried out for Key Note by The Gallup Organization Ltd indicated that the procedures most popular with respondents were breast surgery - including augmentation, reduction and improvement - (9% of female respondents), followed by body tucks and fat removal (8%). The
well-publicised controversy over silicone implants does not appear to have deterred women from having breast implants.
Growth in the market has been fuelled by the development of new techniques and procedures, many of which are giving superior results and are also less invasive, with fewer side-effects and more rapid recovery times. The market is also becoming increasingly competitive, with a number of larger players in the private acute care market such as Bupa Hospitals, Nuffield and even the NHS competing with specialist cosmetic surgery groups such as Transform.
In value terms, the market for cosmetic surgery in the UK was worth £144.1m in 1998 and is estimated to rise to £158.6m in 1999, representing a growth of 10.1%. Breast enhancement surgery - including augmentation, reduction, uplift and male breast reduction - was the single largest sector at £38m in 1998, and is estimated to rise to £42m in 1999. Fat reduction and body sculpture were worth £31.8m in 1998, rising to an estimated £36.3m in 1999. Non-surgical procedures were worth £24.9m in 1998, rising to an estimated £27.3m in 1999.
The overall market for cosmetic surgery is forecast to grow at a rate of around 10% annually, reaching £255.8m in the year 2004. Of the individual market sectors, the highest rate of growth is anticipated in fat reduction and body sculpture, which is projected to rise by around 14% annually to reach £69.9m by the year 2004. Non-surgical procedures will rise by around 11% annually from the year 2000, to reach £45.6m by 2004. Breast enhancement will also continue to grow steadily, by between 8.9% and 10.5% each year, to reach a value of £65.8m in the year 2004.