Slowing traditional cosmetic surgery, booming non-cosmetic procedures in the UK

 

The potential in parts of the UK cosmetic surgery market has not escaped the eye of investors and specialist providers. Whereas private hospitals in the UK appear to view cosmetic surgery as a ‘nice to have’, there are specialist providers and clinics who are actively developing business by looking for new ways to engage existing and potential clients. Market consolidation also has intensified over the past year, particularly in the non-cosmetic sector where private equity backed deals, such as Palatine’s acquisition of Veincentre and TriSpan’s purchase of skn are leading a roll up of the market and the emergence of major players with significant revenue and brand building capability.

However, the report also warns that the market is likely to be hard hit by any economic downturn resulting from Brexit. Despite more widespread acceptance, cosmetic treatment remains a discretionary spend and demand declined significantly between 2009 and 2012 following the 2008 economic crisis.

Report author Liz Heath said: ‘While cosmetic procedures have lost their stigma and are increasingly part of the beauty and wellbeing programme of many women, it is still a remarkably price sensitive market. It is, of course, one in which many people pay personally for their procedures so that they are looking for value for money is understandable. At the same time, the PIP scandal has given people pause, though a price-driven and poorly regulated non-surgical cosmetic procedures market suggests there are scandals ahead as patients do not always grasp the risks run in cost cutting. It also makes the market especially vulnerable in downturns and with the uncertainty of Brexit around the corner, there may be interesting times ahead for the cosmetic surgery market.’

Advertisement

ADD A NEWS ITEM

Do you have some news or a press release that you’d like to share with the medical travel industry?

Publish for FREE on IMTJ.

ADD NEWS

Related Press Releases

Croatia’s medical tourism push

16 February, 2019

Zagreb tourist board focuses on health tourism

Korean inbound cosmetic tourism

25 October, 2018

48, 849 visited Korea for cosmetic surgery

Go plastic

01 June, 2015

Trends in Plastic Surgery