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New Data Captures Millennial Spending Surge on Aesthetic Treatments

By Aesthetic Multispecialty Society posted Jun 22, 2021 04:01 PM

  

Guidepoint Qsight’s® data, which includes proprietary point-of-sale and survey data from hundreds of med spas and physician practices in the US, captured a surge of Millennial spending on non-surgical medical aesthetics treatments in March and April 2021.


Non-surgical Medical Aesthetics treatment sales, particularly for neurotoxins, dermal fillers, and non-surgical skin tightening, reached unprecedented levels in March 2021 with strong growth continuing into April. Overall, Qsight aesthetics point-of-sale data shows sales growth up 27% in March and 14% in April when compared to 2019 (as a ‘pre-COVID’ baseline) with patients under age 40 growing 70% over the same period.


Non-surgical skin tightening and neurotoxins procedures had the largest sales increase in March 2021, with 36% and 32% increases, respectively, over pre-COVID months. Non-surgical fat reduction sales benefited the least from the 2021 spike, with procedures down 4% over the same period in 2019. Dermal fillers sales also experienced strong sales growth of 16% compared to 2019.

Qsight’s data also indicates that younger patients are contributing more to the 2021 aesthetic sales spike than patients over 60. In March and April 2021, versus per-COVID levels, spending by patients under 40 years of age increased by 70% over the same months in 2019 (with under 30 increasing by 112%). Conversely, sales by patients over 60 years of age decreased slightly (-6%).
‘Younger patients have been more likely to visit both med spas and physician offices during the pandemic and are spending in higher volumes. This seems to be a continuation of a longer-term trend of patients getting aesthetics procedures at younger ages,’ said Erik Haines, Managing Director of Guidepoint Qsight. ‘Based on commentary from our proprietary panel of medical aesthetics practitioners, the strong demand maybe attributable to stimulus checks, an increase in disposable income, strong demand going into summer with less COVID restrictions, or a mixture of all the above.’

Guidepoint Qsight has been gathering data on the U.S. medical aesthetics industry since 2007 and recently expanded its market intelligence solutions to provide insight into near-real-time point-of-sale data from hundreds of med spa and physician practices across the U.S. Qsight’s proprietary aesthetics data offering is one of the only direct, timely, granular, and objective sources of information on this low-visibility, high-growth market.

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