An aging population, greater acceptance of surgical procedures and an increasingly mature and competitive workforce are the key trends driving this growth, according to market research group Freedonia.
All of this means that the market should continue to grow steadily over the next four years, ultimately reaching a market value of $2.9bn by 2012, according to the Freedonia researchers.
Watch out for implants and injectables
The report also highlights the fact that implants and injectable procedures are likely to register the fastest growth during this period.
In the area of implants, growth is likely to be driven by the return of silicone-filled breast implants, which are making a come-back after an absence of 14 years.
Scares caused by leaking implants led them to be banned by the FDA, but the latest, known as the fifth generation, are said to be much less susceptible to ruptures and are now back on the market with a freshly garnered seal of approval.
Botox as popular as ever
Likewise injectable fillers, led by Botox, are likely to remain a strong area of growth, which will be further boosted by newly FDA approved fillers such as calcium hydroxylapatite and polymethylmethacrylate microspheres.
Added to this will be the further expansion of laser and other light-based systems, which continue to grow in popularity, both as home-based and professional beauty salon treatments.
The light-based treatments are being used to treat a range of beauty issues, including hair removal, the increasingly popular removal of tattoos, cellulite reduction and skin rejuvenation/anti-aging treatments.