The Face Of A Growth Industry
(This is the start of an occasional series of articles on industries I think are going to benefit from sociological and technical changes. In them I will be looking at the macro view, not digging too deeply into specific companies.)
One change that has happened in the last 40 years is that aesthetic surgery (face lifts, breast implants, liposuction, hair implants, collagen injections, tooth veneers and implants) have gone from the slightly scandalous province of the glitterati to stuff that normal people do. Part of this has been a sociological change and part of this has been that the procedures have gotten less invasive with shorter recovery times.
One great improvement is the use of lasers. They are being used for permanent hair removal, age spot removal and Roseacea treatment. I think that more and more uses will be found for them in the aesthetics field.
So how do we play this trend? Laser manufacturers such as Candela and Palomar Med Tech are obvious candidates for research. I think 3M is also a play here as they make a bunch of products used in medical and dental treatments. Most of the plastic surgery and laser hair removal clinics are small, but like the funeral industry a decade ago there may be significant consolidation to come. Some of the usual suspects in the medical field like JNJ and others are also worth of research.
This is a trend that I suspect will become ubitquitous in the first world and will spread into the second and third world. Why look less than your best when you can be tightened, lifted and peeled into glowing good looks?