Market Trends of Australia Aesthetic Devices Industry
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.
Governments and other organizations have taken several measures to fight against COVID-19. For instance, in April 2020, 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.
Breast Augmentation is Expected to Witness the Significant Growth Over the Forecast Period
Breast augmentation is done by placing implants behind the breast tissue or under the chest muscle. Breast implants are medical devices used to augment the size of breasts, either for cosmetic applications or reconstruction purposes or to correct a congenital abnormality. The procedure involves the usage of breast implants to enhance and improve the size of the breasts.
The rising prevalence of breast cancer in the country is one of the significant factors for the growth of the breast augmentation market. Moreover, with the increasing research and development, the market is expected to see a surge over the forecast period.
As per the data updated in 2020 by GLOBOCAN, the number of new breast cancer cases in Australia was 19,600 in 2020, these cases are expected to increase and reach up to 26,100 by 2040. Therefore, the increasing cases of breast cancer are expected to increase the demand for breast augmentation, which is further expected to boost the growth of the segment.
The major players in the market are also conducting various clinical trials and keenly investing in technological advancements. For instance, in August 2022, German medical device manufacturer BellaSeno announced that its proprietary 3D-printed breast implants have entered human trials in Australia.
Thus, owing to the abovementioned factors, the breast augmentation segment is expected to project significant growth over the forecast period.
