Australia Aesthetic Devices Industry Overview
|Study Period:||2018 - 2028|
*Disclaimer: Major Players sorted in no particular order
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Australia Aesthetic Devices Market Analysis
The Australian aesthetic devices market was valued at approximately USD 202 million in 2021, registering a CAGR of nearly 10.78% during the forecast period, 2021-2027.
The rising cases of COVID–19 are expected to impact the surgical rates of cosmetic procedures. The impact can be attributed to factors such as supply chain disruptions, lockdown restrictions, and stringent social distancing norms in the first and second quarters of 2020. 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. Also, devices such as excimer lamps and skin-tightening devices have probes that come in close contact with the skin, and the risk of transmission of the SARS-CoV2 virus is high. Moreover, the Australasian Society of Aesthetic Plastic Surgeons (ASAPS), the peak body for Specialist Plastic Surgeons who practice Cosmetic Surgery in Australia and New Zealand, issued a statement in February 2021 advising ASAPS members who are all registered specialist plastic surgeons. Thus, COVID-19 has highly impacted the medical aesthetic devices market in Australia. However, the situation is expected to improve during the forecast period.
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, including radiofrequency and infrared technologies. These devices' recent changes have yielded better results with less pain. 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. Moreover, In July 2022, CurrentBody, launched its new Lip LED perfector in Australia. Thus, the launches of technologically advanced products in the studied market are expected to surge over the forecast period.
In addition, as per a November 2021 update by the Australian Institute of Health and Welfare, in June 2020, approximately 4.2 million people (16% of Australia's total population) were aged 65 and over. As the older population is more susceptible to wrinkles, the demand for aesthetic surgery is all set to increase over the coming years, thereby driving the market growth.
Besides, in January 2020, Cryomed Aesthetics launched Ultraformer III, a global leader in ultrasound technology. It is an entirely non-invasive lifting and tightening device, offering customized treatment protocols for the face, neck, and body, and is available throughout Australia and Newzealand. With increasing fashion trends, beauty consciousness, and lifestyle changes, the aesthetic devices market is expected to witness growth in the country.
Australia Aesthetic Devices Industry Segments
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 Australia Aesthetic Devices Market is Segmented by Type of Device (Energy-based Aesthetic Device (Laser-based Aesthetic Device, Radiofrequency (RF) Based Aesthetic Device, Light-based Aesthetic Device, Ultrasound Aesthetic Device) and Non-energy-based Aesthetic Device (Botulinum Toxin, Dermal Fillers and Aesthetic Threads, Microdermabrasion, Implants, and Other Aesthetic Devices), 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|
|Body Contouring and Cellulite Reduction|
|Facial Aesthetic Procedures|
|By End User|
Australia Aesthetic Devices Market Trends
This section covers the major market trends shaping the Australia Aesthetic Devices Market according to our research experts:
The Dermal Fillers and Aesthetic Threads Segment Dominates the Market
Non-surgical cosmetic procedures like 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 has revolutionized the filler market with a large number of products available for use in patients. As per the statistics updated by the Victorian Cosmetic Institute updates from January 2020, The top 5 cosmetic procedures carried out in Australia are anti-wrinkle injections, fillers, laser and intense pulsed light (IPL), breast augmentation and reduction, and liposuction. Spending USD 1 billion on cosmetic surgery, Australia spends more than 40% of the United States per capita. The rise in cosmetic surgery procedures over the forecast period may ultimately drive the demand for aesthetic devices in the country.
The governments and other organizations have taken several measures 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 market growth.
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Australia Aesthetic Devices Market Competitor Analysis
The Australian 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.
Australia Aesthetic Devices Market Top Players
Bausch Health Companies Inc. (Solta Medical, Inc.)
Alma Lasers (Sisram Medical Ltd)
*Disclaimer: Major Players sorted in no particular order
Australia Aesthetic Devices Market Recent Developments
· In July 2022, CurrentBody, the global leader in beauty tech and beauty LED, launched its new Lip LED perfector in Australia.
· In June 2021, Cutera launched a new skin rejuvenation device, Secret PRO, that offers practitioners a ‘multi-layered’ approach to skin rejuvenation, using CO2 skin resurfacing application ‘Ultra Light’ to target the epidermis whilst simultaneously utilizing the Secret RF micro-needling technology to reach the subdermal layers of the skin.
Australia Aesthetic Devices Market Report - Table of Contents
1.1 Study Assumptions and Market Definitions
1.2 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 (Market Size by Value - USD million)
5.1 By Type of Device
5.1.1 Energy-based Aesthetic Device
126.96.36.199 Laser-based Aesthetic Device
188.8.131.52 Radiofrequency (RF) Based Aesthetic Device
184.108.40.206 Light-based Aesthetic Device
220.127.116.11 Ultrasound Aesthetic Device
5.1.2 Non-energy-based Aesthetic Device
18.104.22.168 Botulinum Toxin
22.214.171.124 Dermal Fillers and Aesthetic Threads
126.96.36.199 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
5.3.2 Aesthetic Clinics
5.3.3 Home Settings
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
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
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Australia Aesthetic Devices Market Research FAQs
What is the study period of this market?
The Australia Aesthetic Devices Market is studied from 2018 - 2028.
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 2028?
The Australia Aesthetic Devices Market is valued at 371 Million USD in 2028.
Who are the key players in Australia Aesthetic Devices Market?
Lumenis Inc., Cutera, Inc., Bausch Health Companies Inc. (Solta Medical, Inc.), Candela Corporation, Alma Lasers (Sisram Medical Ltd) are the major companies operating in Australia Aesthetic Devices Market.
Australia Aesthetic Devices Industry Reports
In-depth industry statistics and market share insights of the Australia Aesthetic Devices sector for 2020, 2021, and 2022. The Australia Aesthetic Devices research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Australia Aesthetic Devices report PDF.