Australia Aesthetic Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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 cancelled in Australia between February and May 2020 due to COVID-19 restrictions on elective surgery.

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 includes the use of radiofrequency and infrared technologies. The recent changes in these devices have particularly 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.

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 face, neck, and body and is avaible 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.

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.

Competitive Landscape

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. 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.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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