Fifty-five percent of women surveyed who see a dermatologist or plastic surgeon said the declining economy has not changed their skin care spending or frequency of in-office procedures
Long Beach, Calif. (April 23, 2009) – According to two new skin care surveys, women are not scaling back on their anti-aging skin routine, despite the current state of the economy. The Economic Impact on America’s Skin Care Habits, sponsored by Obagi Medical Products, Inc. (Nasdaq: OMPI), a leader in physician-dispensed topical aesthetic and therapeutic skin health systems, reported that many continue to spend their hard-earned money on favorite at-home regimens, continuing with regular visits to the doctor and sacrificing other luxuries in order to do so. Further supporting this study, a recent article in Global Cosmetics Industry (GCI) magazine published a forecast from Mintel, a leading global supplier of consumer, product and media intelligence, that stated they expect a 20% increase in anti-aging skin care sales over the next five years.
The Economic Impact on America’s Skin Care Habits survey found the majority (98%) of women 25-54 years of age surveyed who see a dermatologist or plastic surgeon for their skin care needs say that they currently spend up to $500 a year on facial procedures and half (50%) would be willing to spend up to $300 on a personalized skin care regimen. Yet even those women, who are still spending money for in-office procedures at their dermatologist or plastic surgeon’s office, are looking for ways to save money. According to the women surveyed, such savings come in the form of choosing a professional skin care regimen that helps to extend and enhance the benefits of their in-office procedures.
“The results of this survey clearly demonstrate that women are still spending the money that it takes to maintain their appearance in this uncertain economy,” says Mitchel P. Goldman, MD, Board Certified Dermatologist and Medical Director at the Dermatology Cosmetic Laser Associates of La Jolla. “As a physician, I want to give my patients the best results for their money. I strive to optimize their results and extend the benefits of their procedures with a personalized, at-home skin care regimen. The one I prescribe and trust most is Obagi Medical Products Condition & Enhance System.”
Other Key Survey Findings Include:
· Over 50% of women 24-54 years of age surveyed who see a dermatologist or plastic surgeon for their skin care needs say they are extending the time between their doctor visits to save money in the current economic climate;
· Half of the women 25-54 years of age surveyed who see a dermatologist or plastic surgeon for in-office procedures say they would be willing to try a personalized skin care regimen that extends the benefits of the in-office procedures;
· 41 % of those age 35-44 surveyed are the most likely to have cut back on other areas of their life, such as child care and money spent on groceries, but maintained the amount of money spent or the frequency with which they visit a dermatologist;
· Among those respondents who do consult a dermatologist or plastic surgeon regularly for their skin care needs, 88% say they visit a dermatologist, 13% visit a plastic surgeon and 13% visit some other type of medical professional; and
· More than nine out of ten respondents who are age 18-34 or 45 and over say they see a dermatologist regularly. Over a quarter of women age 25-34 see a plastic surgeon regularly.
Survey Methodology
These findings are from an online survey conducted among 1,087 adult women. Interviewing for this survey was completed during the period March 19-20 and 23-24, 2009. Opinion Research Corporation of Princeton, NJ, conducted the fieldwork.
About the Obagi® Condition & Enhance™ System
The Obagi Condition & Enhance System is a 4% hydroquinone-based skin care regimen, that together with the use of tretinoin, has been specifically designed to be used daily to optimize facial procedure results. The Condition & Enhance System, which utilizes Obagi Medical’s Penetrating Therapeutics™ technology, helps to correct photodamaged skin, promote and maintain the overall health of the skin and prevent future skin damage. The system is available only by prescription.
About Obagi Medical Products, Inc.
Obagi Medical Products’ develops and commercializes skin health products for the dermatology, plastic surgery, and related aesthetic markets. Using its Penetrating Therapeutics technologies, Obagi Medical's products are designed to improve penetration of agents across the skin barrier for common and visible skin conditions in adult skin including chloasma, melasma, senile lentigines, acne vulgaris and sun damage. The history of Obagi's skin care product introductions is as follows: Obagi Nu-Derm®, 1988; Obagi-C® Rx (the first and only prescription-strength vitamin C and hydroquinone system), 2004; Obagi® Professional-C (a line of highly stable vitamin C serums), 2005; Obagi® Condition & Enhance for use with cosmetic procedures to enhance patient outcomes and satisfaction, 2006; Obagi ELASTIderm™ eye treatment and Obagi CLENZIderm® M.D. acne therapeutic systems, 2007; a formulation of Obagi CLENZIderm® M.D. Systems for normal to dry skin, June 2007; and Obagi ELASTIderm™ Décolletage System, January 2008, and the Rosaclear™ System for the treatment of rosacea, January 2009. Visit www.obagi.com for information.
Forward Looking Statements
There are forward-looking statements contained herein, which can be identified by the use of forward-looking terminology such as the words "believes," "expects," "may," "will," "should," "potential," "anticipates," "plans," or "intends" and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from the future results, events or developments indicated in such forward-looking statements. Such factors include, but are not limited to the intense competition our products face and will face in the future, the level of market acceptance of our products, the possibility that our products could be rendered obsolete by technological or medical advances, the possibility that we may become involved in intellectual property or product liability claims and litigation that could adversely affect the profitability of or our ability to sell our products, the possibility that our products may cause undesirable side effects and the fact that our ability to commercially distribute our products may be significantly harmed if the regulatory environment governing our products changes. A more detailed discussion of these and other factors that could affect results is contained in our filings with the U.S. Securities and Exchange Commission, including our Form 10-K for the year ended December 31, 2008. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. No assurance can be given that the future results covered by the forward-looking statements will be achieved. All information in this press release is as of the date of this press release and Obagi Medical Products does not intend to update this information.