The nation-wide concern over the on-again, off-again economic recovery is finding a positive force in an unlikely industry. Breast augmentation is the new market indicator for Wall Street, as cosmetic plastic surgery procedures performed in 2010 were up 5% from the previous year.
The economy has found an unlikely ally on the road to recovery: cosmetic plastic surgery. In an article appearing on newsday.com titled “Cosmetic Surgery Industry Seeing Recovery,” Long Island Plastic Surgical Group (LIPSG), one of the longest running plastic surgery facilities in the U. S., says the practice saw a 30% increase in the number of procedures performed in 2010 compared with 2009. Similar statistics and studies point to a direct correlation between the volume of cosmetic enhancement procedures performed and overall market direction. With a direct connection established between breast augmentation, breast lifts, and liposuction performed in 2010, the Plastic Surgery Indicator was born.
According to the American Society of Plastic Surgeons (ASPS), 13.1 million procedures were performed in 2010. During the worst of the Great Recession, demand for cosmetic enhancement decreased 2% from 2008-2009. As the economy slowly continues to recover in 2011, the Plastic Surgery Indicator provides irrefutable evidence for the industry’s connection to major US stock market indexes. An article appearing on csbmoneywatch.com titled “Wall Street Ogles Breast Augmentation as New Market Indicator,” says rising consumer confidence is reflected in the dramatic return of cosmetic plastic surgery: “Feeling good – and looking good – is in style once again.”
As plastic surgery in Long Island and across the nation rebounds with the recovering economy, the most recent statistics from ASPS show surgical cosmetic enhancement increased 2% overall, with a total of 1.6 million procedures performed in 2010. Further validated by the most recent study from the American Society for Aesthetic Plastic Surgery (ASAPS)—defining an even greater increase of almost 9% in procedures performed in 2010—shows the top five surgical procedures performed in 2010 are as follows:
2010 top five surgical procedures:
1) Breast augmentation: 318,123
2) Liposuction: 289,016
3) Eyelid surgery: 152,123
4) Abdominoplasty: 144,929
5) Breast Reduction: 138,152
According the same study conducted by ASAPS, minimally invasive, nonsurgical procedures accounted for nearly 83% of the total amount of cosmetic enhancement procedures performed in 2010. The top five are as follows:
1) Botulinum toxin type A (e. g. BOTOX Cosmetic): 2.4 million
2) Hyaluronic Acid: 1.3 million
3) Laser Hair Removal: 936,270
4) Laser Skin Resurfacing: 562,706
5) Chemical Peel: 493,896
Looking ahead to trends already beginning to develop in 2011, the American Society for Aesthetic Plastic Surgery (ASAPS) predicts a continued growth in the popularity of cosmetic injectables such as BOTOX Cosmetic® and Dysport, As the cosmetic enhancement industry continues to grow, LIPSG representatives say they remain committed to providing the highest standards of patient safety and education. Additionally, as the economy continues to recover, the New York plastic surgeons say they expect this latest growth in demand for cosmetic plastic surgery to continue as well.
The Long Island Plastic Surgical Group (LIPSG) has more than 200 years of combined experience with a history of providing cutting-edge cosmetic and reconstructive plastic surgery. Established in 1948, LIPSG is the longest running plastic surgery groups in the U. S., specializing in a range of procedures at the nine Centers of Excellence the group operates, including the Long Island Breast Reconstruction Center.