|UK injectables market remains strong in face of global decline
10 Dec 2009Kate Donovan
According to a report by the Millennium Research Group (MRG), the nearly $1.2 bn global facial injectable market declined by almost 5% over 2008 due to the recession. The report also predicted that the market will begin recovery in 2010, and by 2014 will return to the pre-recession growth rates of over 15%.
However, in the UK, aesthetic medicine practitioners have reported that in general, the facial injectable market has experienced very little decline. Dr Simon Connolly, British Association of Cosmetic Doctors Scotland Regional Chairperson, said that in Scotland they have seen a considerable increase in demand over the last six weeks and that overall for 2009 there has been an approximate 10% increase in treatments. Other than a slight slow-down in demand in August and September of this year Connolly said that the level of demand has remained steady.
Connolly added that Botox has remained the most popular treatment but that demand for Juvéderm ULTRA has grown by 50% and demand for Sculptra by 100%.
The lack of decline was also experienced by Dr Rita Rakus, fellow of the British Association of Cosmetic Doctors. “In fact the past few months have been buoyant,” she added.
The MRG report also commented that in order to combat the financial pressures a number of facial injectable products were given approval and launched in 2009 to stimulate interest and adoption among practitioners and patients.
MRG analyst Lisa Shantz said: “The launch of these new products has generated a lot of media attention, owing in part to the extensive marketing campaigns and promotional activities that manufacturers are engaging in.”
She added: “Although these newly introduced products will have greater impact when the market begins to recover in 2010, many physicians and patients are now much more aware of the different types of brands and products at their disposal.”