Market Size of Australia Aesthetic Devices Industry
Study Period | 2021 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Market Size (2024) | USD 0.77 Billion |
Market Size (2029) | USD 1.37 Billion |
CAGR (2024 - 2029) | 12.08 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
Australia Aesthetic Devices Industry Segmentation
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 Devices, and Non-energy-based 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 | |||||||
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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 |
Australia Aesthetic Devices Market Size Summary
The Australian aesthetic devices market is poised for significant growth, driven by increasing awareness of aesthetic procedures and rapid technological advancements in devices. The market has experienced challenges due to the COVID-19 pandemic, which led to disruptions in elective surgeries and heightened concerns over virus transmission during procedures. However, the situation is expected to improve, with the introduction of new technologies such as radiofrequency and infrared devices enhancing the efficacy and comfort of treatments. The aging population in Australia, particularly those over 65, is contributing to the rising demand for aesthetic procedures, as they are more susceptible to skin aging. This demographic shift, coupled with the growing popularity of non-surgical procedures like dermal fillers, is expected to propel market growth. The launch of innovative products, such as DIY laser hair removal gadgets and advanced skin rejuvenation devices, further underscores the market's expansion potential.
The market landscape is characterized by intense competition, with major players like Alma Lasers, Cutera, and Candela Corporation actively investing in technological advancements and product developments. The breast augmentation segment, in particular, is anticipated to see significant growth due to the rising prevalence of breast cancer and ongoing research and development efforts. The Australian aesthetic devices market is also benefiting from government initiatives and infection control strategies that have facilitated a resurgence in cosmetic procedures post-COVID-19. As the market continues to evolve, companies have the opportunity to enhance their market share by addressing unmet consumer needs and leveraging the growing trend of beauty consciousness and lifestyle changes in Australia.
Australia Aesthetic Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Awareness Regarding Aesthetic Procedures
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1.2.2 Rapid Technological Advancements
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1.3 Market Restraints
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1.3.1 Side Effects Associated With Cosmetic Surgery
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Type of Device
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2.1.1 Energy-based Aesthetic Device
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2.1.1.1 Laser-based Aesthetic Device
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2.1.1.2 Radiofrequency (RF) Based Aesthetic Device
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2.1.1.3 Light-based Aesthetic Device
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2.1.1.4 Ultrasound Aesthetic Device
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2.1.2 Non-energy-based Aesthetic Device
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2.1.2.1 Botulinum Toxin
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2.1.2.2 Dermal Fillers and Aesthetic Threads
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2.1.2.3 Microdermabrasion
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2.1.2.4 Implants
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2.1.2.5 Other Aesthetic Devices
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2.2 By Application
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2.2.1 Skin Resurfacing
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2.2.2 Body Contouring and Cellulite Reduction
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2.2.3 Hair Removal
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2.2.4 Facial Aesthetic Procedures
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2.2.5 Breast Augmentation
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2.2.6 Skin Tightening
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2.2.7 Other Applications
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2.3 By End User
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2.3.1 Hospital
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2.3.2 Aesthetic Clinics
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2.3.3 Home Settings
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Australia Aesthetic Devices Market Size FAQs
How big is the Australia Aesthetic Devices Market?
The Australia Aesthetic Devices Market size is expected to reach USD 0.77 billion in 2024 and grow at a CAGR of 12.08% to reach USD 1.37 billion by 2029.
What is the current Australia Aesthetic Devices Market size?
In 2024, the Australia Aesthetic Devices Market size is expected to reach USD 0.77 billion.