The number of cosmetic-surgery procedures in the U.S. sagged for the second year in a row in 2009, according to an annual survey released by American Society for Aesthetic Plastic Surgery. There were 10 million surgical and nonsurgical procedures in 2009, down 2%from 2008.
Breast augmentation was the most popular surgical procedure for the second year in a row. Breast augmentations numbered 311,957 last year, down 12% from 2008; liposuctions numbered 283,735, down 17%.
Nonsurgical procedures, such as injections of Botox or hyaluronic acid to fill facial wrinkles, were flat, inching up 0.6% to 8.5 million.
Meanwhile in India, Singapore, and Thailand, the cosmetic surgery business is booming. They have an already enormous and still expanding population of wealthy people who are willing and ready to spend their wealth on improving their beauty! Which means surgeons there are really perfecting their skills.
These locations are increasingly becoming a mecca for elective surgical procedures at a fraction of the US or Europe cost. Bumrungrad hospital in Thailand; Fortis, Wockhardt and Apollo hospitals in India are globally accredited and staffed by highly acclaimed ( and US Board Certified) physicians who have world-class outcomes.
And there are numerous outfits selling packages which include a surgical procedure with a 3 week convalescence vacation at really attractive prices. Medical Tourism is a reality in 2010.
But here is where it gets really exciting: A number of Indian hospital chains are in the process of setting up shop in Mexico. These hospitals will be manned by internationally credentialed staff. Once they are up and running, they are going to give us a run for our money!
Thomas Friedman is right. The world is getting smaller! Globalization means what goes around, comes around.
Only the smartest, leanest, and most innovative will survive.
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