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, however, the pressure to look good on video calls during lockdown has prompted a spike in demand of the cosmetic procedures across Australia.

The primary factor driving the market growth include increasing awareness regarding aesthetic procedures and rapid technological advancement in devices.

New technologies are introduced into the market, which includes the use of radiofrequency, and infrared technologies. The recent changes in these devices have particularly yielded better results with less pain. In December 2019, Venus Concept Inc received Therapeutic Goods Administration (TGA) clearance in Australia to market NeoGraft 2.0 for hair restoration. The NeoGraft 2.0 procedures are minimally invasive, require less recovery time, and offer natural-looking results for all hair types.

In January 2018, Merz Aesthetics unveiled a new consumer campaign to increase awareness: Merz Aesthetics Serendipity Journeytm (MASJ) in Australia. Through this campaign, Merz Aesthetics hopes to inspire people to focus positively on their favorite features and minimize self-limiting beliefs preventing them from reaching their fullest potential. With increasing fashion trends, beauty consciousness, and lifestyle changes, the aesthetic devices market will witness growth.

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Key Market Trends

Dermal Fillers and Aesthetic Threads Segment Dominates the Australia Aesthetic Devices Market

Non-surgical cosmetic procedures, such as dermal fillers, are becoming popular in Australia. The dermal fillers including hyaluronic acid, and collagen. Hyaluronic acid is one of the widely used soft tissue filler agents, which have revolutionized the filler market with 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 being performed in Australia in the year 2018. The rise in cosmetic surgery procedures, over the forecast period will ultimately drive the demand for aesthetic devices in the country.

Several measures have been taken by the government and other organizations to fight against COVID-19. For instance, in April 2020, the Australasian College of Cosmetic Surgery (ACCS, College) welcomes and supports the decision of the Australian Government, to partner with the private hospital sector in order 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 adoped by the governemnt has prompted a spike in cosmetic procedures across Australia, which is expected to drive the market growth.

Competitive Landscape

The Australia Aesthetic Devices market has rapidly evolved over the last few years. Industry observed significant changes in adopting market strategies such as product developments, mergers, and acquisitions in recent years. Thus, the Australia Aesthetic Devices market has become a very competitive industry. Major companies in the market are Alma Lasers (Sisram Medical Ltd), Cutera, Candela Corporation, Lumenis Inc., 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.

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