The US represents the largest market in non-surgical cosmetic treatments, but the highest growth rates are being seen in Asia, according to a new report from Horwath HTL Health and Wellness.
Horwath is a sister company to international spa and wellness consultancy and management company GOCO Hospitality, and has just released a new industry report on ‘Cosmetic Beauty Services.’
The report explores the primary differences between cosmetic treatment categories; reviews industry performance, growth and trends; and identifies ways for operators and investors to use cosmetic treatments to boost spa facility performance.
Between 2015 and 2016, the most significant growth rate in non-surgical procedures was for photo-rejuvenation, which grew by 36 per cent and now accounts for more than 650,000 procedures in the US. Hyaluronic acid treatments, the second-fastest growing category, grew by 16 per cent, the report found.
The majority of non-surgical treatment consumers – 39.3 per cent – are between the age of 35 and 50, and favour Botox, hyaluronic acid treatments and hair removal. That said, customers in the 65+ age group contributed to a 193.5 per cent growth in the number of non-surgical procedures over the past four years.
Minimally invasive treatments have been the most popular cosmetic treatments, with hyaluronic acid treatments growing by 16.1 per cent in 2016 alone. Injectable treatments remain popular among men, the report found, led by Botox and hyaluronic acid injections.
As of 2016, the number of non-surgical cosmetic procedures outperformed surgical cosmetic procedures by 590 per cent, the report found.
The international medical aesthetic treatment market is expected to rise to US$6.56bn by 2018, the report said, led by non-invasive treatments such as Botox and hyaluronic acid treatments as well as energy-based services such as lasers. The highest growth rates are being seen in Asia.
“This research illustrates that there is still an unexplored opportunity to implement a number of high-yielding cosmetic treatments within the hotel spa environment, incurring a reasonable investment volume and utilising less than 150sq m of space,” the authors said.
