Market Insights Health Medical Technology Medical Devices

General & Plastic Surgery Devices - Australia

Australia

The projected revenue in the General & Plastic Surgery Devices market market in Australia is estimated to reach €0.33bn in 2024.
It is expected that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of 6.87%, leading to a market volume of €0.46bn by 2029.
In comparison to other countries, the United States is projected to generate the highest revenue in the market, with €9,129.00m in 2024.
Australia's growing demand for non-invasive cosmetic procedures is driving the adoption of advanced general & plastic surgery devices in the medical technology market.

Key regions: Europe, Japan, United Kingdom, Netherlands, China

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Analyst Opinion

The General & Plastic Surgery Devices market in Australia has been witnessing steady growth in recent years.

Customer preferences: Customers in Australia have shown a growing interest in cosmetic and reconstructive surgeries, leading to an increased demand for general and plastic surgery devices. This can be attributed to several factors, including the influence of social media and the desire to achieve a certain aesthetic appearance. Additionally, the aging population in Australia has also contributed to the demand for plastic surgery procedures, as individuals seek to maintain a youthful appearance.

Trends in the market: One of the key trends in the General & Plastic Surgery Devices market in Australia is the adoption of minimally invasive procedures. This trend is driven by the desire for less downtime and faster recovery among patients. As a result, there has been an increased demand for devices such as lasers, injectables, and non-surgical skin tightening devices. These devices offer a less invasive alternative to traditional surgical procedures, while still delivering effective results. Another trend in the market is the growing popularity of breast augmentation procedures. Breast augmentation has become one of the most commonly performed cosmetic surgeries in Australia, with women seeking to enhance their appearance and boost their self-confidence. This has led to an increased demand for breast implants and other related devices.

Local special circumstances: Australia has a well-established healthcare system, which includes both public and private healthcare providers. The private healthcare sector plays a significant role in the General & Plastic Surgery Devices market, as many individuals opt for private healthcare facilities for their cosmetic and reconstructive surgeries. This preference for private healthcare has contributed to the growth of the market in Australia.

Underlying macroeconomic factors: The growing economy and increasing disposable income levels in Australia have also played a role in the development of the General & Plastic Surgery Devices market. As individuals have more disposable income, they are more likely to invest in cosmetic and reconstructive surgeries. Additionally, the availability of financing options for these procedures has made them more accessible to a wider range of individuals. In conclusion, the General & Plastic Surgery Devices market in Australia is experiencing steady growth, driven by customer preferences for cosmetic and reconstructive surgeries, the adoption of minimally invasive procedures, and the growing popularity of breast augmentation. The local special circumstance of a well-established healthcare system and the underlying macroeconomic factors of a growing economy and increasing disposable income levels have also contributed to the market's development.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.