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Australia plastic surgeons market: $992 million industry by 2018
Plastic Surgeons in Australia - Industry Market Research Report - a new market research report on 2014-03-14 06:58:03
The Australia Plastic Surgeons market enjoyed conditions with few complications over the past five years. Industry revenue is estimated to grow by an annualised 5.3% over the five years through 2012-13 to reach $788.8 million. An ageing Australian population promoted industry revenue over the past five years. Demand for plastic surgeons grew as consumers attempted to reverse the visual effects of ageing. Growing obesity rates similarly increase demand for industry services. As Australian waistlines grew, consumers opted for plastic surgery to maintain a healthy physical appearance. This was in line with increasing health consciousness and rising health expenditure.
Industry revenue is expected to grow 5.3% in 2012-13. The industrys revenue will benefit from the ageing of the Australian population and growing obesity rates. Such trends will increase demand for industry services. Meanwhile, higher disposable incomes and an uptick in consumer sentiment in the year will facilitate spending from the growing market.
Industry profitability improved over the past five years. Plastic surgeons were able to widen their margins due to an undersupply of new graduates. As training institutions controlled the quality of their graduates, they also limited the number of potential new entrants to the industry. Furthermore, demand for plastic surgeon services was strong as Australian aged and obesity levels increased. The reduced competition and strong demand enabled industry participants to expand their operating profit margins.
The continued ageing of the Australian population and the higher prevalence of obesity will continue to support industry revenue growth. Industry revenue is forecast to increase by an annualised 4.7% over the five years through 2017-18 to reach $991.9 million. Australians who are ageing or obese will demand industry services as they attempt to maintain a healthy and youthful appearance. Higher disposable incomes will enable increased spending from a growing market. However, lower consumer sentiment will dampen some of the growth in spending.
Report Scope
This industry provides medical techniques intended to enhance the physical appearance for cosmetic or reconstructive purposes. Firms consist of medical specialist clinics where licensed professional doctors perform surgical and non-surgical procedures.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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