Australia Facial Injectable Market Growth & Trends
The Australia facial injectable market size is expected to reach USD 22.8 billion by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 26.4% over the forecast period. Facial Injectable is used to reduce wrinkles and fine lines, create volume and shaping, as well as build facial framework and structure. The rising awareness regarding cosmetic procedures and a rise in the elderly population are two key reasons predicted to propel the industry growth. In addition, developments in facial rejuvenation and the trend shift from invasive to minimally invasive procedures are other drivers anticipated to promote market growth over the projection period.
Dermatologists and other professionals can treat various facial areas, personalize treatments for each patient, and utilize a combination of products to get better results. These factors are anticipated to support the expansion of the market in Australia during the forecast period. Peer recommendations have a significant impact on millennials’ purchasing decisions, which are greatly influenced by social media. According to the Yellow Social Media Report 2020, 63% of Australians claimed that endorsements from celebrities or social media influencers make them less likely to make a purchase, while 15% of them said the opposite. In addition, according to the Mission Australia Youth Survey Report 2018, roughly 30.4% of participants expressed concern about their body image.
This, in turn, will increase the demand for cosmetic treatments, leading to market growth. The COVID-19 outbreak led to an increase in internet consultations. Australia undertook a widespread temporary closure of beauty and cosmetic services as a preventative action against COVID-19. The Centre for Mental Health at Swinburne University has been conducting research on how the closure of the beauty business has affected Australians’ mental health. According to the study, compared to before COVID-19, the general population reported having less interest in having cosmetic surgery or treatment after the end of the first lockdown in May, this, in turn, impacted the demand for facial injectables.
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Australia Facial Injectable Market Report Highlights
The botulinum toxin type A product segment dominated the overall industry in 2021 and will remain dominant throughout the forecast period
The use of botulinum toxins for medicinal purposes has made room for the expansion in the healthcare industry
The aesthetics segment led the market and accounted for the maximum revenue share in 2021
The segment growth can be attributed to the rising spending on aesthetic procedures and rising consumer awareness about these procedures
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