PARIS - The global market for cosmetic procedures grew 10 per cent last year and is set to grow at a similar pace in 2013, according to a report by IMCAS, a French-based forum for plastic surgeons and dermatologists.
Surgical procedures such as liposuction and breast augmentations, as well as non-invasive treatments like lasers and anti-wrinkle injections, totalled 4.4 billion euros (S$7.2 billion) in 2012 and are expected to reach 4.9 billion euros this year, the report said.
Asia is expected to see the strongest growth this year as soaring demand for procedures like eyelid and nose surgery boost the market by 14 per cent.
The European market is forecast to grow 6.6 per cent in 2013 as shrinking discretionary spending among austerity-hit consumers offsets strong demand for anti-ageing treatments from the over-fifties.
A scandal involving faulty implants last year put a damper on breast augmentation procedures, which grew a modest 1.9 per cent worldwide in 2012 and declined 9.2 per cent in Europe, the report found.
The implants, which had been made by French-based Poly Implant Prothese using unauthorised silicone filler, had been widely used by surgeons in Europe and Latin America.
The market for breast augmentations, however, is expected to recover and post an annual growth of 5.2 per cent between 2013 and 2017, the report said.