Plastic Surgeons Hit Hard by the Economic Crisis

For the past few years, plastic surgery has no longer been a luxury only for the rich and famous. According to the American Society of Plastic Surgeons, a study in 2005 found that only 10% of people who recently had or considered plastic surgery had a total household income of $90,000 or more. Most people in that study had a household income of $30,000 - $60,000. Since the majority of plastic surgery patients are comprised of middle class, it is not surprising that in a slow economy, people will cut back on their discretionary spending. Furthermore, the current credit crisis has made it more difficult for many people to finance their plastic surgery.

As a result, the plastic surgery business in the U.S. has dropped significantly. Today almost every Los Angeles plastic surgeon and Beverly Hills plastic surgeon has experienced a decline in the core procedures including Los Angeles breast augmentation, Los Angeles tummy tuck, Los Angeles nose surgery or rhinoplasty, and liposuction. Many people turn to less expensive (though less effective) procedures such as injectables and laser treatments. Another recent study by the American Society of Plastic Surgeons predicted that the volume of plastic surgery procedures will quadruple by 2015 where almost one in five of all Americans will be having plastic surgery. Whether this prediction comes to be true given the current financial crisis remains to be seen.

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