1、Aesthetic Services Sector BriefQ4 2024The Aesthetic Services Industry at a GlanceRepresentative ConceptsPlastic SurgeryMedspaRepresentative ConceptsRepresentative ConceptsHybrid ConceptsAttractive secular trends,low relative penetration,and compelling unit economics,combined with relative dearth of

2、investable assets contributing to influx of capital and strong multiplesWhile long-term industry trends remain positive,recent trends have been more mixed on a service and concept level,further differentiating those platforms that have demonstrated consistent performance.Key TrendsIncreased investor

3、 interest in this area of aesthetics,given large average ticket and growing realization that the services are more recurring than many appreciatedNumber of platforms formed relatively recently;key to demonstrate benefits of coming together(i.e.,ability to train providers/reduce provider concentratio

4、n,expand service offerings,and improve customer experience)Key TrendsKey TrendsHybrid aesthetic strategies aim to combine the most attractive attributes of medspa and plastic surgery.Platforms see opportunities to expand TAM,cross-sell between services,diversify key person risk,and optimize average

5、ticket and visit frequencyProviders offering invasive surgical treatments to improve cosmetic appearance or treat reconstructive issuesDermatologyRepresentative ConceptsKey TrendsAesthetic services provide meaningful benefits to medical/surgical dermatology platforms,including expanding their addres

6、sable market,allowing them to take price,and in some cases,inflecting their overall growth curve.Virtually all concepts exploring their own aesthetics strategy,ranging from selling products in-clinic to seeking to partner with pure-play aesthetic providersSpecialty medicine focused on the treatment