I agree with Catch. This is nothing new - in the '80's, when a slump, and recession hit after a boom, all the modelling mags were asking exactly the same question.
OK, prices WILL increase, if only because of the relationship to oil prices and, plastics being a bi-product of the oil business, it is unlikely the prices will fall again, even if oil prices do. However, the advances made in model kit production methods, over the last few years, are huge. The tools are better, last longer, and are much more accurate, with finer tolerances, resulting in more finesse in the finished product and, theoretically, at less cost to produce. This means that, a manufacturer using, for instance, tools made by spark errosion, can expect to get more product from that tool, with less wear, and at less cost in labour and materials, and other overheads such as power. Also, the production methods for the tools themselves are, in theory anyway, less than the cost of traditionally produced moulding tools, due to automated, and computer-controlled methods, such as the aforementioned spark errosion. All in all, this means that the model companies should survive, IF they don't get too greedy, and price themselves out of the market. Revell (Germany) seem to have the right idea; produce interesting kits, that the market desires, of high quality, at realistic prices. Result - greater overall sales, with less effort or market risk, resulting in the same, or more, profit margin than selling more expensive products, to a smaller, and by its very nature, shrinking market. The latter caused by potential buyers saying exactly what we would say - "I'm not paying THAT much!"
So, there will be a lull, possibly a lack of, or a slowing down in the release of, new kits. but, those companies such as Revell AG, who do it right first time, will still be here when the dust settles. Those companies who follow the Airfix route? I doubt it.
The hobby is once again growing, and is massive, otherwise the 'big boys', and the many smaller independants, wouldn't even attempt to release some of the kits now reaching the market, and the 'fringe' sales - magazines, books etc, wouldn't be growing the way it has been doing.
Yes, some companies will go to the wall, but the clever ones will make out all right in the end, if they do things right.
Are you reading this, Mr.'Airfix'? (mutters under his breath as he ambles back to his hole in the ground....!)