Australia Aesthetic Devices Market Size

Australia Aesthetic Devices Market Analysis

The Australia Aesthetic Devices Market size is estimated at USD 0.77 billion in 2024, and is expected to reach USD 1.37 billion by 2029, growing at a CAGR of 12.08% during the forecast period (2024-2029).

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, stated 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 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 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. Moreover, an article published in the journal of Plastic and Reconstructive Surgery Global Open in March 2021 indicated that over the years, the number of cosmetic surgeries performed in Australia has been on the rise. For instance, as per an article published in March 2022, by BodyMatters Australasia, with more than 500,000 separate procedures performed last year, Australia has overtaken the United States as the most cosmetic procedures per capita

In May 2021, Aldi Australia announced the launch of a new DIY laser hair removal solution gadget, to help consumers use aesthetic devices in the sophistication of their homes. The launch of the product will likely add to the market growth over the forecast period. Moreover, 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.With increasing fashion trends, beauty consciousness, and lifestyle changes, the aesthetic devices market is expected to witness growth in the country.

Thus, owing to the abovementioned factors, the studied market is expected to grow over the forecast period. However, social stigma concerns and poor reimbursement scenarios may hinder the growth of the market.