2010 has been yet another fascinating year in the history of the aesthetic industry. With large established companies changing hands, including BMI buying Transform, The Hospital Group purchase of Surgicare and consolidation in the device industry with the merger of Syneron and Candela Lasers to form the leading global aesthetic device company.
We saw the launch of Bocouture®, Merz’s approved cosmetic botulinum toxin brand, alongside some crazy things reported in this particular market sector; including increased reporting of “Do It Yourself” toxin injections, the rise of “Teen Toxing”, beauty therapist and non-medic training courses for Botox, extreme pricing discounts by clinics and increased availability of unlicensed Far Eastern toxins easily purchased on the Internet.
Equally, we saw Merz take responsible action when their dermal filler product, Novabel®, caused some adverse reactions in a small number of patients. This unprecedented action by a product manufacturer of pulling sales a few months after launch, pending investigation, is laudable.
The surgical market also saw bad publicity with the uncovering of defective French PIP breast implants, with all regulators and interested organisations differing in their opinions of the best course of action for patients.
There was plenty of heated debate concerning CQC deregulation of IPL/Lasers (in England) and new self-regulation aimed at improving standards in the cosmetic injectables sector with the launch of the IHAS Treatments You Can Trust scheme, alongside proposals for European Regulation of the Cosmetic Surgery Market.
2011 will undoubtedly bring another year of controversy, scare stories, new products, maybe some consensus regarding VAT (?!), and more madcap news about cosmetic treatments!
From a business perspective we will see more consolidation in all areas of the industry as oversupply in many segments struggles against weaker growth rates in the current economic conditions. However, as in all industry shakeouts, the ones left standing will exponentially thrive and prosper in the coming decade.
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