Biotech Values

[DewDiligence]

Non-Surgical Facial Procedures Spike Dramatically in 2010

[It’s no accident that AGN carries one of the highest P/E ratios in the drug/biotech industry. Injected products such as Botox and HA-based dermal fillers are so effective that traditional facelift surgery is becoming a thing of the past.]

http://finance.yahoo.com/news/NonSurgical-Facial-Procedures-iw-2804908911.html?x=0&.v=1

›Source: American Academy of Facial Plastic and Reconstructive Surgery
January 19, 2011

ALEXANDRIA, VA--(Marketwire - 01/19/11) - New survey results released today by the American Academy of Facial Plastic and Reconstructive Surgery (AAFPRS) showed three-fourths of the procedures performed by the Academy's surgeons in 2010 were non-surgical procedures, highlighting a trend that more people are choosing non-surgical procedures to delay more invasive surgical procedures.

The survey results also showed that the number of procedures performed annually has risen 45 percent over the last two years, with a 16 percent increase in non-surgical procedures. The results were released at the AAFPRS Rejuvenation of the Aging Face Meeting. The meeting is being held January 19-23, at the U.S. Grant Hotel in San Diego, CA.

A majority of surgical procedures, including facelift, revision surgery, rhinoplasty, forehead lift, chin augmentation, lip augmentation, and scar revision, increased in cost from 2009, which may be one reason why people opted for less invasive surgeries. In addition, surgeons reported performing fewer lip augmentations, hair transplants and collagen/cosmoderm/cosmoplast procedures in 2010.

"Non-surgical procedures are an excellent option for some people, with the added benefits of lower costs and shorter recovery time; two things that are consistently important to those considering facial plastic surgery," said Jonathan M. Sykes, M.D., President of the AAFPRS. "We have been seeing a trend over the past few years that people who want to look and feel younger and rejuvenated are turning to non-surgical, less invasive procedures to obtain the refreshed look they want."

The most common non-surgical procedures last year were Botox and hyaluronic acid injections. Surgery is still popular, with the most popular cosmetic surgical procedures in 2010 being rhinoplasty, facelift, and blepharoplasty (eyelid surgery).

Procedures Vary By Age/Gender [duh]

Women, who made up 83 percent of all surgical and non-surgical procedures in 2010, continued to be the most likely candidates for all plastic surgery other than hair transplants, though the procedures varied greatly by age. Women under age 35 opted for less invasive procedures. The most common non-surgical procedures for women under age 35 were Botox injections (65 percent, up from 58 percent in 2009), hyaluronic acid injections (51 percent), microdermabrasion (23 percent), and chemical peels (22 percent).

Facelifts, blepharoplasty, ablative skin resurfacing and rhinoplasty were the most common surgical procedures performed on women overall, while Botox, hyaluronic acid injections, and microdermabrasion were the most common non-surgical procedures in women overall.

Women between the ages of 35 and 60 most commonly underwent brow lifts, facelifts, blepharoplasty [removal of sagging fat around the eyes], Botox, chemical peels, and filler injections, which all showed at least a five percent increase from 2009. Filler injections and chemical peels increased 12 and 26 percent, respectively, since last year.

Rhinoplasty was the most common surgical procedure performed on women between the ages of 22 and 34, with 84 percent of all rhinoplasties, versus 23 or less percent of other procedures, being performed in this age group, up nine percent from 2009.

Men also saw their share of surgical and non-surgical procedures last year, with Botox, hyaluronic acid injections, rhinoplasty and hair transplants being the most common procedures performed.

Ethnicity Also Plays a Role

Two out of five surgeons have also reported an increase in their Asian American, Caucasian, and Hispanic patients in 2010. Among the four different popular cosmetic surgeries, African Americans and Hispanics were most likely to have received rhinoplasty (78% and 62% respectively). Asian Americans were most likely to have received blepharoplasty (47 percent) or rhinoplasty (44 percent), while Caucasians were more likely to get rhinoplasty (42 percent, up from 26 percent in 2009), followed by facelifts (36 percent).

Patients Are More Educated

Physicians agree that patients are more educated about plastic surgery than in recent years [which is probably not saying much], despite patients receiving most of their plastic surgery information from friends. Surgeons also reported that patients are split in their concern over the results and cost when making the decision to undergo facial plastic surgery.

Find the Right Surgeon [finally, the real reason for this PR]

The AAFPRS reminds patients and professionals that when considering a facial procedure to first seek surgeons who are qualified, trained and experienced in performing those procedures and ensure that patients trust their face to a facial plastic surgeon. The AAFPRS web site offers a searchable member directory, which can help you find an AAFPRS facial plastic surgeon near you. For more information, visit www.facemd.org.

About the Survey

The data for this study was collected directly by AAFPRS on the web between December 21, 2010 and January 8, 2011 using SurveyMonkey.com, a web site for conducting self-designed web surveys. The survey was emailed to only AAFPRS members who are American Board of Facial Plastic and Reconstructive Surgery (ABFPRS) certified. ICR, headquartered in suburban Philadelphia, analyzed key findings using data obtained from the SurveyMonkey site. One hundred and fifteen surgeons responded to the survey. The number of respondents this year is consistent with the number from previous years.‹