The Impact of the Economy on the Plastic Surgery Industry in the Post-pandemic Era

Research Article
Open access

The Impact of the Economy on the Plastic Surgery Industry in the Post-pandemic Era

Xinran Jin 1*
  • 1 Baylor University    
  • *corresponding author Xinran_jin1@baylor.edu
Published on 13 September 2023 | https://doi.org/10.54254/2754-1169/9/20230395
AEMPS Vol.9
ISSN (Print): 2754-1177
ISSN (Online): 2754-1169
ISBN (Print): 978-1-915371-45-4
ISBN (Online): 978-1-915371-46-1

Abstract

In today's era of rising aesthetics, there is growing consumer demand for cosmetic surgery, and more and more people are using plastic surgery as a way to achieve their high expectations for appearance and body. According to the data of the American Society for Aesthetic Plastic Surgery, the number of people who undergo plastic surgery activities in the United States each year is very large. Therefore, the plastic surgery industry is a very important industry in the United States and has a huge market. With the impact of COVID-19, the revenue of the U.S. plastic surgery industry continues to change from 2018 to 2021, with a significant downward trend in the most severe year, 2019. Several studies have argued that there may be a link between the plastic surgery industry and economic indicators, but the experimental subjects and results still differ. This study uses the Pearson correlation to conduct an experiment whose purpose is to explore the relationship between the revenue of plastic surgery in the United States and U.S. economic indicators. The results achieved show that GDP and CPI, among the economic indicators, are positively associated with the benefits of plastic surgery in the United States.

Keywords:

economy, cosmetic surgery, COVID-19, economic indices

Jin,X. (2023). The Impact of the Economy on the Plastic Surgery Industry in the Post-pandemic Era. Advances in Economics, Management and Political Sciences,9,286-292.
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References

[1]. Altig, D., Baker, S., Barrero, J. M., Bloom, N., Bunn, P., Chen, S., ... & Thwaites, G. (2020). Economic uncertainty before and during the COVID-19 pandemic. Journal of Public Economics, 191, 104274.

[2]. Office of Unemployment Insurance. Office of Unemployment Insurance, Employment & Training Administration (ETA) - U.S. Department of Labor. (n.d.). From https://oui.doleta.gov/unemploy/claims_arch.asp

[3]. American Society for Aesthetic Plastic Surgery Statistics. 2018-2021. http://www.surgery.org/media/statistics

[4]. American Society of Plastic Surgeons. (2014, May 28). Economic indicators affect market for aesthetic procedures. American Society of Plastic Surgeons. From https://www.plasticsurgery.org/news/press-releases/economic-indicators-affect-market-for-aesthetic-procedures

[5]. Sandhir, Rakesh K. M. Ch.(1997). Definition and Classification of Plastic Surgery. Plastic and Reconstructive Surgery, 100(6) : 1599-1600.

[6]. Diment, D. (2021). Industry market research, reports, and Statistics. IBISWorld. From https://www.ibisworld.com/united-states/market-research-reports/plastic-surgeons-industry/

[7]. World Bank. Gross domestic product World Bank data. 2021. http://data.worldbank.org/

[8]. U.S. Bureau of Labor Statistics. (n.d.). Notice: Data not available. U.S. Bureau of Labor Statistics. From https://data.bls.gov/pdq/SurveyOutputServlet

[9]. Benesty, J., Chen, J., Huang, Y., & Cohen, I. (2009). Pearson correlation coefficient. In Noise reduction in speech processing (pp. 1-4). Springer, Berlin, Heidelberg.

[10]. Duncan, C. O., Ho-Asjoe, M., Hittinger, R., Nishikawa, H., Waterhouse, N., Coghlan, B., & Jones, B. (2004). Demographics and macroeconomic effects in aesthetic surgery in the UK. British journal of plastic surgery, 57(6), 561-566.

[11]. Gordon, C. R., Pryor, L., Afifi, A. M., Benedetto, P. X., Langevin, C. J., Papay, F., ... & Zins, J. E. (2010). Cosmetic surgery volume and its correlation with the major US stock market indices. Aesthetic surgery journal, 30(3), 470-475.

[12]. Padley, R.H., Di Pace, B. (2021). Touch-ups, Rejuvenation, Re-dos and Revisions: Remote Communication and Cosmetic Surgery on the Rise. Aesthetic Plastic Surgery, 45(6): 3078–3080. doi: org/10.1007/s00266-021-02235-1

Cite this article

Jin,X. (2023). The Impact of the Economy on the Plastic Surgery Industry in the Post-pandemic Era. Advances in Economics, Management and Political Sciences,9,286-292.

Data availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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About volume

Volume title: Proceedings of the 2nd International Conference on Business and Policy Studies

ISBN：978-1-915371-45-4(Print) / 978-1-915371-46-1(Online)
Editor：Canh Thien Dang, Javier Cifuentes-Faura
Conference website: https://2023.confbps.org/
Conference date: 26 February 2023
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.9
ISSN：2754-1169(Print) / 2754-1177(Online)

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References

[1]. Altig, D., Baker, S., Barrero, J. M., Bloom, N., Bunn, P., Chen, S., ... & Thwaites, G. (2020). Economic uncertainty before and during the COVID-19 pandemic. Journal of Public Economics, 191, 104274.

[2]. Office of Unemployment Insurance. Office of Unemployment Insurance, Employment & Training Administration (ETA) - U.S. Department of Labor. (n.d.). From https://oui.doleta.gov/unemploy/claims_arch.asp

[3]. American Society for Aesthetic Plastic Surgery Statistics. 2018-2021. http://www.surgery.org/media/statistics

[4]. American Society of Plastic Surgeons. (2014, May 28). Economic indicators affect market for aesthetic procedures. American Society of Plastic Surgeons. From https://www.plasticsurgery.org/news/press-releases/economic-indicators-affect-market-for-aesthetic-procedures

[5]. Sandhir, Rakesh K. M. Ch.(1997). Definition and Classification of Plastic Surgery. Plastic and Reconstructive Surgery, 100(6) : 1599-1600.

[6]. Diment, D. (2021). Industry market research, reports, and Statistics. IBISWorld. From https://www.ibisworld.com/united-states/market-research-reports/plastic-surgeons-industry/

[7]. World Bank. Gross domestic product World Bank data. 2021. http://data.worldbank.org/

[8]. U.S. Bureau of Labor Statistics. (n.d.). Notice: Data not available. U.S. Bureau of Labor Statistics. From https://data.bls.gov/pdq/SurveyOutputServlet

[9]. Benesty, J., Chen, J., Huang, Y., & Cohen, I. (2009). Pearson correlation coefficient. In Noise reduction in speech processing (pp. 1-4). Springer, Berlin, Heidelberg.

[10]. Duncan, C. O., Ho-Asjoe, M., Hittinger, R., Nishikawa, H., Waterhouse, N., Coghlan, B., & Jones, B. (2004). Demographics and macroeconomic effects in aesthetic surgery in the UK. British journal of plastic surgery, 57(6), 561-566.

[11]. Gordon, C. R., Pryor, L., Afifi, A. M., Benedetto, P. X., Langevin, C. J., Papay, F., ... & Zins, J. E. (2010). Cosmetic surgery volume and its correlation with the major US stock market indices. Aesthetic surgery journal, 30(3), 470-475.

[12]. Padley, R.H., Di Pace, B. (2021). Touch-ups, Rejuvenation, Re-dos and Revisions: Remote Communication and Cosmetic Surgery on the Rise. Aesthetic Plastic Surgery, 45(6): 3078–3080. doi: org/10.1007/s00266-021-02235-1

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