How Technology Has Helped Grow the Medical Aesthetics Industry
People have always wanted to feel better and look their best. Back in the colonial days, for instance, powdered wigs were fashionable – much of that was to keep the fleas and lice out of everybody’s hair. But still, people liked how they felt and looked in them. Abraham Lincoln grew his beard after a little girl wrote to him and said she thought he’d look better with one. So anyone following the medical aesthetics industry may well wonder – why now? People didn’t just wake up a few years ago and start saying, “I’d like to look 10 years younger.” The “I want to look and feel better” mindset has been going on for a long time.
The answer is in your smartphone. That drone flying overhead. In the wireless coffeemaker you’ve been thinking of buying.
Technology in Medical Aesthetics
That is, technology is the “why” behind “why now”. Technology has allowed the medical aesthetics industry to thrive. Instead of invasive surgical procedures helping to keep Father or Mother Time at bay, technological innovations in non-surgical cosmetic procedures have become the norm. Here’s how.
Technology has made the medical aesthetics industry less expensive. The industry is getting rich, but you no longer have to be rich to have cellulite reduced or wrinkles and facial lines filled. Some of that may be perception more than anything because prices over the years have gone up for some procedures and down for others. According to the American Med Spa Association and Marketdata, laser hair removal has climbed almost 51 percent from 2011 to 2016, but dermabrasion was down 12 percent and chemical peels went down by 9 percent.
Still, the point is, as technology evolves and allows procedures to be done more safety and efficiently, and more and more major players, like Allergan, Inc., and Cynosure, Inc., make a bigger footprint in the medical aesthetics industry, and more medical spas open up, that all helps keep prices lower – and at the same, all of these changes help to create a wider and more mainstream market so that new and repeat customers increase.
Larger companies are driving technological innovation – which helps drive demand. You know how a snowball, rolling down a hill, will increase in size and get bigger and bigger? Well, that’s what is happening in medical aesthetics. The industry has momentum that’s making it bigger and virtually unstoppable. As noted, larger players have been getting into the medical aesthetics marketplace and buying smaller companies and leveraging those acquisitions and their research and development departments. As these giants race to become leaders in the medical aesthetic industry, that becomes good for all players, big and small. Innovations are happening at a rapid pace, so that new technological advancements and product launches are constantly happening. So as word gets out about how easy it is to get a Botox injection, or to have your lips fuller or your facial creases softened – there’s that snowball effect.
More people are going to medical spas than ever, and so more companies than ever are innovating, which in turn will continue to spur the public to continue coming. As the Global Medical Aesthetics Market report showed last year, the market is expected to have more than doubled from 2016 ($10.12 billion) to 2024 (an expected $26.53 billion).
Technology has made procedures shorter – and allowed people to get results faster. Many procedures these days are being done within an hour, if not within minutes, which fits in with our “it needs to be done now, if not yesterday” culture. People used to order merchandise and be okay with it being delivered in a couple weeks. Now, a couple days makes some people antsy, which, of course, is why some businesses will deliver products, like groceries, within the hour. Well, technology in the medical aesthetics market has allowed expectations here to evolve as well.
Why spend weeks at the gym trying to reduce some stubborn fat when you can get fat cells frozen off with a Coolsculpting treating within an hour? You can spend weeks and months putting on facial creams on your face, hoping for some results, or you can go into a medical spa and know that you’ll get age spots zapped off after a couple sessions.
So, yes, we have always wanted to look and feel better – but it’s technology that’s allowed people to do that faster and more frequently than ever. And it’s allowed an industry to grow and thrive.
Of course, just as it’s always been human nature to want to look and feel better, as a society, we’ve always utilized the latest and greatest in tech tools to do just that. It’s just that the non-surgical cosmetic equipment we use has never been as advanced as it is now. Fortunately, we have come a long way from the technology of powdered wigs.
There’ never been a better time to take advantage of the rapidly growing medical spa industry.