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The editors at Best MBA Programs decided to research the topic of:
The Business of Body Enhancement
Recently, it seems your greatest imperfections can be magically fixed by a pill or scalpel. More and more Americans are OK losing cash in their wallet, for a gain in cup size or a rise in their pants.Viagra
- Price of a single Viagra pill in the U.S.: $9-$10
- $1.9 billion in worldwide sales in 2009
- In the first 10 years of sales, 30+ million men in 120 countries have been prescribed Viagra
- 48% of men suffer at least 1 side effect while using Viagra
- Only 1% of men stop using it due to side effects
- Average duration of erection with a placebo and 20 minutes of sex videos, among men with erectile dysfunction:
- 3.6 seconds
- Average duration of erection with 100 mg of Viagra and 20 minutes of sex videos, among men with erectile dysfunction:
- 1 minute
- That is $10 for 56.4 extra seconds
- Or about 18 cents per second
- In August 2011, Pfizer won a patent infringement case
- Gaining 7 more years of exclusive rights to Viagra
- Saving Pfizer $1 billion in U.S. annual sales
Cosmetic Plastic Surgery
- 2009 - 2010: average American income fell 0.6% to $62,481
- Americans compensated for the recession by spending:
- 3.8% less on food
- 2% less on housing
- 1.4% less on clothes
- 7% less on entertainment
- At the same time spending:
- 1.3% more on breast augmentation
- 5.1% more on lipo
- 8.1% more on eyelid surgery
- 24.4% more on butt lifts
- 13,828,726 total cosmetic surgeries in the U.S. in 2011
- 5% increase from 2010
- 87% increase from 2000
- Annual salary for plastic surgeons: $275,000-$499,656
- 10-year job growth: 24.4%
- Nearly 1/3 of cosmetic-surgery patients make less than $30,000 a year
- About 70% make less than $60,000
- Women accounted for 91% of all cosmetic procedures in 2009
- In 2010, there were 1.2 million male cosmetic patients
- up 2% from 2009
Breast Implants
- Approximately 5-10 million women worldwide have breast implants
- $3,388: national average surgeon/physician fee for breast augmentation in 2011
- $1+ billion total spent on breast augmentation in 2011 alone
- 4% increase in breast augmentation from 2010 to 2011
- That's nearly 11,000 more surgeries
Nose Job
- Nearly 1/4 million nose jobs in 2011
- -3% from 2010
- -37% from 2000
Butt Implants
- 1,149 butt implants in 2011
- 43% increase from 2010
- No data from 2000!
Minimally Invasive Procedures
- There were over 13 million total cosmetic surgeries in 2011
- 89% of those were minimally invasive procedures
- Botulinum Toxin Type A (Botox, Dysport) has seen a 621% increase since 2000
Does Surgery Make You Happy?
- 92.2% of patients considered their appearance as good as they expected or better
- 81.4 % were more satisfied with their overall appearance
- Little or no improvement was seen in self-esteem and mental health
