Market Snapshot
| Study Period: | 2018-2026 |
| Base Year: | 2020 |
| CAGR: | 10.78 % |
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Market Overview
The Australia aesthetic devices market was valued at approximately USD 201.10 million in 2020, and it is expected to reach USD 371 million by 2026, registering a CAGR of nearly 10.78% during the forecast period, 2021-2026. The rising cases of COVID–19 are expected to impact the surgical rates of cosmetic procedures. As per the international CovidSurg project, published in the British Journal of Surgery in May 2020, it was estimated that more than 400,000 elective surgeries were canceled in Australia between February and May 2020 due to COVID-19 restrictions on elective surgery. However, the pressure to look good on video calls during lockdown has prompted a spike in demand for cosmetic procedures across Australia.
The primary factor driving the market growth include the increasing awareness regarding aesthetic procedures and rapid technological advancements in devices.
New technologies are introduced into the market that include the use of radiofrequency and infrared technologies. The recent changes in these devices have particularly yielded better results with less pain. In December 2019, Venus Concept Inc. received the Therapeutic Goods Administration (TGA) clearance in Australia to market NeoGraft 2.0 for hair restoration. The NeoGraft 2.0 procedures are minimally invasive, require less recovery time, and offer natural-looking results for all hair types.
In January 2018, Merz Aesthetics unveiled a new consumer campaign to increase awareness, Merz Aesthetics Serendipity Journeytm (MASJ), in Australia. Through this campaign, Merz Aesthetics hopes to inspire people to focus positively on their favorite features and minimize self-limiting beliefs preventing them from reaching their fullest potential. With increasing fashion trends, beauty consciousness, and lifestyle changes, the aesthetic devices market is expected to witness growth.
Scope of the Report
The scope of the Australian aesthetic devices market includes all kinds of medical devices used for various cosmetic procedures. These procedures include hair removal, anti-aging, aesthetic implants, and skin tightening used for beautification, alteration, and enhancement of the body.
The Australian aesthetic devices market is segmented by type of device (energy-based aesthetic device and non-energy-based aesthetic device), application (skin resurfacing, body contouring and cellulite reduction, hair removal, facial aesthetic procedures, breast augmentation, skin tightening, and other applications), and end user (hospital, aesthetic clinics, and home settings). The report offers the value (in USD million) for the above segments.
| By Type of Device | |||||||
| |||||||
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| By Application | |
| Skin Resurfacing | |
| Body Contouring and Cellulite Reduction | |
| Hair Removal | |
| Facial Aesthetic Procedures | |
| Breast Augmentation | |
| Skin Tightening | |
| Other Applications |
| By End User | |
| Hospital | |
| Aesthetic Clinics | |
| Home Settings |
Key Market Trends
The Dermal Fillers and Aesthetic Threads Segment Dominates the Market
Non-surgical cosmetic procedures, such as dermal fillers, are becoming popular in Australia. The dermal fillers include hyaluronic acid and collagen. Hyaluronic acid is one of the widely used soft tissue filler agents, which have revolutionized the filler market with a large number of products available for use in patients. According to a report by the International Society of Aesthetic Plastic Surgery (ISAPS), there were around 29,559 hyaluronic acid procedures that were performed in Australia in 2018. The rise in cosmetic surgery procedures over the forecast period may ultimately drive the demand for aesthetic devices in the country.
Several measures have been taken by the governments and other organizations to fight against COVID-19. For instance, in April 2020, the Australasian College of Cosmetic Surgery (ACCS, College) welcomed and supported the decision of the Australian government to partner with the private hospital sector to expand the available resources to manage the COVID-19 crisis in Australia. Furthermore, in June 2020, ACCS medical faculty suggested infection control strategies for minimization of COVID-19 transmission in cosmetic medical clinics.
Hence, the preventive strategies adopted by the government have prompted a spike in cosmetic procedures across Australia, which is expected to drive the market growth.
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Competitive Landscape
The Australia aesthetic devices market has rapidly evolved over the last few years. The industry observed significant changes in adopting market strategies such as product developments, mergers, and acquisitions in recent years. Thus, the market has become a very competitive industry. Major companies in the market are Alma Lasers (Sisram Medical Ltd), Cutera, Candela Corporation, Lumenis Inc., and Bausch Health Companies Inc., among others. The market competitors have an attractive opportunity to boost their shares by identifying and fulfilling the unmet needs of consumers. For instance, in June 2020, Cynosure launched the Elite iQ Aesthetic workstation for laser hair removal and skin revitalization in Australia and several other countries.
Recent Developments
In September 2020, BTL Aesthetics and SILK Laser Clinics entered a partnership for the launch of 15 BTL Aesthetic EmSculpt devices in selected SILK Laser Clinic locations across Australia.
In August 2020, Sciton Inc., a leading manufacturer of light-source technologies, launched a line of new products, including mJOULE, a new fractional treatment with pulsed light-based technology, in Australia.
Table of Contents
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Awareness Regarding Aesthetic Procedures
4.2.2 Rapid Technological Advancements
4.3 Market Restraints
4.3.1 Side Effects Associated With Cosmetic Surgery
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type of Device
5.1.1 Energy-based Aesthetic Device
5.1.1.1 Laser-based Aesthetic Device
5.1.1.2 Radiofrequency (RF) Based Aesthetic Device
5.1.1.3 Light-based Aesthetic Device
5.1.1.4 Ultrasound Aesthetic Device
5.1.2 Non-energy-based Aesthetic Device
5.1.2.1 Botulinum Toxin
5.1.2.2 Dermal Fillers and Aesthetic Threads
5.1.2.3 Microdermabrasion
5.1.2.4 Implants
5.1.2.5 Other Aesthetic Devices
5.2 By Application
5.2.1 Skin Resurfacing
5.2.2 Body Contouring and Cellulite Reduction
5.2.3 Hair Removal
5.2.4 Facial Aesthetic Procedures
5.2.5 Breast Augmentation
5.2.6 Skin Tightening
5.2.7 Other Applications
5.3 By End User
5.3.1 Hospital
5.3.2 Aesthetic Clinics
5.3.3 Home Settings
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbvie Inc. (Allergan Inc.)
6.1.2 Cryomed Aesthetics
6.1.3 Alma Lasers (Sisram Medical Ltd)
6.1.4 Cutera Inc.
6.1.5 Lumenis Inc.
6.1.6 Candela Corporation
6.1.7 Sciton Inc.
6.1.8 Merz Pharma GmbH & Co. KGaA
6.1.9 Cynosure Inc.
6.1.10 Bausch Health Companies Inc. (Solta Medical Inc.)
6.1.11 Venus Concept
6.1.12 Galderma SA
6.1.13 Teoxane Laboratories
6.1.14 Sinclair Pharma PLC
6.1.15 Laboratoires VIVACY
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Australia Aesthetic Devices Market market is studied from 2018 - 2026.
What is the growth rate of Australia Aesthetic Devices Market?
The Australia Aesthetic Devices Market is growing at a CAGR of 10.78% over the next 5 years.
What is Australia Aesthetic Devices Market size in 2018?
The Australia Aesthetic Devices Market is valued at 201 Million USD in 2018.
What is Australia Aesthetic Devices Market size in 2026?
The Australia Aesthetic Devices Market is valued at 371 Million USD in 2026.
Who are the key players in Australia Aesthetic Devices Market?
Alma Lasers (Sisram Medical Ltd), Lumenis Inc., Cutera, Inc., Bausch Health Companies Inc. (Solta Medical, Inc.), Candela Corporation are the major companies operating in Australia Aesthetic Devices Market.
