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Featured Aesthetics Technology Summit Article: Allergan

What an exciting time to be at the forefront of the medical aesthetics market. Over the past few years there has been an influx of innovation and interest in this category – from brands, healthcare providers and consumers alike. In 2019, Allergan revealed its inaugural Aesthetics 360 Report, one of the most far-reaching and authoritative studies ever on the subject. This report surveyed more than 14,500 “aesthetically conscious consumers” (those who self-identified as interested in looking better and willing to spend on it) and more than 1,300 physicians in 18 countries. The mission of this study was to more closely examine the diverse and evolving perspectives of people of varying ages, cultures and genders— as well as the physicians who treat them. As those who are closely watching this category know, the popularity of medical aesthetic treatments continues to surge, fueled by fewer societal taboos, growing technological breakthroughs as well as millennials (consumers 21-35) and men entering the fray. The worldwide medical aesthetic market is projected to be worth approximately $26.53 billion by 2024, up from $10.12 billion in 2016. The demand for non-surgical procedures, particularly facial injectables, has been rising and 33% of healthcare providers think this demand will grow by more than 25% in the next year.1

So, what is driving this growth?

First, the patient demographics are evolving. Millennials are exploring and pursuing medical aesthetic treatments as part of their routines. The biggest shift here from generations before is the millennial mindset of “when” I will explore aesthetic treatments, versus “if” I will explore them. There is also a preventative mindset, supported by the fact that globally we saw that millennials are more likely to consider treatment preventatively before older cohorts (and more likely than other age groups) as soon as they notice a concern. Yet, across all age groups, 82% of consumers worldwide believe injectable treatments are socially acceptable, and more than 73% of consumers worldwide expect to spend money on a physician–administered aesthetic treatment in the next year, compared to 50% last year.1

 Second, recent years have ushered in a new era of openness about medical aesthetics, and we know this trend will continue as we embark on this new decade. Worldwide, consumers no longer shy away from pursuing the look they want with the help of their physician, and aesthetic treatments are becoming a greater part of the overall wellness and self-care conversation.

The digital revolution and social media have also played a role in breaking down barriers and enabling the flow of information related to this category, as evidenced by the 50 million Google searches for medical aesthetic-related topics. We see healthcare providers using these platforms as an opportunity to pull back the curtain and show what happens inside the treatment room, and the unfiltered results that can be achieved. Yet, with this access and information also comes responsibility.  As market leader, it is our duty to ensure there is accurate, yet engaging, information widely available on our products and the category overall. To aid in this effort, Allergan has created a number of digital ventures, including www.thespotlyte.com, which features curated content that helps medical aesthetic considerers discover how these treatments may fit into their routine, as well as The GIST™, a new web series where five of the world’s leading dermatologists go beyond “skin deep”, to cut through the clutter and deliver the facts about everything related to skincare and medical aesthetics, all in under 30 minutes. Both of these ventures are helping to empower consumers with valuable knowledge prior to even stepping foot in their provider’s office.

Allergan Aesthetics also continues to explore how we can use digital technology to enhance our offerings to both providers and consumers. We have an in-house team of digital thought leaders from Apple, Amazon, Google and Hulu who are reimagining how we can create connections between patients and providers both in and out of the office, as the pathway to the office is no longer what it once was.

With all of this, one thing is clear – the future is bright in medical aesthetics. As a worldwide thought leader and driver of gold-standard care for the aesthetics market, we are excited about the possibilities from product innovation to uncharted territories, such as consumer and provider mindsets and behaviors. We can’t wait to see what this next decade has in store.

References:

1: Allergan 360 Aesthetics Report, https://360aestheticsreport.com/

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