Breast
Breast AugmentationBreast Lift (Mastopexy)Breast ReconstructionBreast ReductionTop SurgeryFat Transfer Breast AugmentationIt might be unsettling to think about, but plastic surgery does not exist in a vacuum - trends have a big impact on the field. Every year we talk about certain surgical changes becoming more desirable or less so, the same way we might talk about jeans or shoe brands.
The undeniable fact is that plastic surgery is influenced by all sorts of external factors, including:
- the economy and pricing of plastic surgery procedures
- Technological advances in surgical tools
- popular culture and beauty trends
It's no secret the price of almost everything is on the rise, and it's affecting everyone. Whether you're a doctor or lawyer, waiter or bus driver, there's no way around it: we're likely entering a recession.
The prices of everything from eggs to houses are creeping higher and higher, causing people to tighten up their budgets—which may be in direct opposition to their aesthetic goals. Below, we’re going to dive into the economics of cosmetic surgery and what 2023 has in store.
How the stock market affects cosmetic surgery
Interesting things happen when you start looking at the stock market and plastic surgery trends. You might jump to thinking, “If the market is up, people have more money and get more surgeries.” While that’s somewhat true, it doesn’t paint the complete picture of the cosmetic surgery market.
More Than One Economic Predictor?
When talking about plastic surgery, it is typically divided into two main categories. Surgical, which includes procedures such as:
- Breast Augmentation
- Liposuction
- Tummy-tuck (Abdominoplasty)
- Eyelid Surgery (Blepharoplasty)
- Breast Lift
And Non-Surgical, which includes things like:
- Botox
- Dermal Fillers
- Laser Hair Removal
- Chemical Peels
- Photo-rejuvenation
- Microdermabrasion
Aesthetic surgical procedures are typically more expensive, so the success of that field depends largely on the health of the economy. When the stock market is doing well, people are more likely to invest in businesses and make purchases, which leads to an increase in revenue for aesthetic surgery offices.
Conversely, when the economy is struggling, people may be less likely to invest in businesses or make large purchases, which leads to a decrease in costly surgical procedures. That being said, nonsurgical procedures offer a less expensive way to make small changes in one's appearance.
What Does This Mean for 2023?
Now that we're in 2023, it will be interesting to see what will turn out to be the most popular procedure this year. Regardless, from rhinoplasties to breast augmentations, patients are going to want access to quality care, great value, and surgeons that can meet their expectations.
Here are our predictions for the year ahead:
Do Any Recession-Proof Businesses Exist?
During economic downturns, different aesthetic procedures tend to see their market share shift a little bit. For instance, Liposuction and breast augmentation are two popular surgeries that are often seen as recession-proof.
One reason is that they're aspirational surgeries - which means that patients have wanted them since they were younger and have been saving up for them for years. When they eventually do have the money, a recession rarely stops them.
Which Procedure Packs the Most Punch?
According to Steven Williams, President-Elect of the American Society of Plastic Surgeons, people are beginning to combine fewer surgeries. This is due in part to the fact that people are realizing that there are many options for fixing one's body and improving their appearance without having to go through multiple surgeries.
If someone is looking at doing a Brazilian Butt Lift (BBL) with a tummy tuck and a breast augmentation, maybe they're holding off on one or two of the surgeries and focusing on the one thing that bothers them most. By focusing on only one surgery, people can greatly improve their chances for a successful outcome and achieve their desired look much more quickly.
Here’s Looking At You(r Face), Kid
When it comes to cosmetic procedures, face-lifts are usually the most popular choice among older patients and it’s these patients that tend to have the most resources. Because these procedures tend to be more resistant to economic pressures, we see this plastic surgery trend continuing into 2023. With the help of a qualified surgeon, you can get the look you've always wanted without spending a fortune.
‘Easy’ Injectables
Some injectable treatments will likely hold steady through the new year. What are injectables? They are a type of cosmetic surgery that uses injections to help change the appearance of a person’s features and are generally used to improve the appearance of the face, neck, chest, and arms.
It’s nice because they offer added benefits that traditional surgeries don’t such as:
- shorter recovery times
- a more natural look
- A lower cost
On top of that, they often use a numbing agent to reduce pain and swelling during and after surgery. Another plus: they are often very quick and relatively inexpensive.
They are generally divided into two categories, neurotoxins and fillers, which work differently to flatten out those lines.
Neurotoxins work by blocking nerve impulses to the muscles around the wrinkles, causing them to relax. Fillers work by restoring lost volume, smoothing lines and softening creases. They can also enhance facial contours.
The Injectable Verdict is…
In the medspa space, we're predicting a downturn in filler use and there is some historical evidence for this. As the economy tightens, people continue to get their neurotoxin [like Xeomin, Botox, and Dysport], but they may hold off on their filler, which is typically more expensive.
Patients are recognizing less is more. This isn’t to say that fillers are “out”—they’re still very popular, especially tear trough injections and lips. But we’ll be seeing more reasonable results that make it harder to say if someone has had something done.
Man Oh Man
More and more men are seeking plastic surgery, with a significant increase in the past few years. For one reason or another, these men are unhappy with their appearance and feel that plastic surgery can help them look better and feel more confident.
Some experts theorize that it could be due to the fact that society is now more open-minded about cosmetic changes and that the younger generation of men is more curious and accepting of them. Whatever the reason may be, it's clear that men are no longer afraid to go under the knife in order to look their best.
Other Trends to Consider
Patients are now looking for natural, nuanced results from cosmetic surgery and we think this trend will continue. So rather than wanting to look like a TV star, they'll be more concerned with adding a little volume here or there or possibly rounding out their hip dips.
This shift away from "perfect" looks has led to a rise in popularity of treatments which provide patients with results that are more natural and realistic looking.
Looking Natural Navigating us Into 2023
2023 is bound to be an interesting year for plastic surgery. While the economy may still be struggling, we predict that people will be looking for ways to improve their appearance as naturally as possible, in order to feel better about themselves and their place in the world.
We also predict that more minimally-invasive techniques will continue to gain popularity as people seek out procedures that offer maximum results with minimal downtime.
One thing is for sure: whether you're considering a major procedure or a simple tweak, be sure to consult with a board-certified plastic surgeon like those at SixSurgery, to ensure that you are getting the best possible guidance and care.