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Plastic Surgeons in Australia Industry Market Research Report Now Available from IBISWorld(January 08, 2013)
Melbourne, Australia (PRWEB) January 09, 2013
The Plastic Surgeons industry in Australia 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. IBISWorld analyst Aries Nuguid says, 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.
Plastic Surgeons industry revenue is expected to grow 5.3% in 2012-13. The industry's 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.
Plastic Surgeons industry profitability improved over the past five years. Plastic surgeons were able to widen their margins due to an undersupply of new graduates, says Nuguid. 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 Plastic Surgeons industry has a low level of market share concentration. The industry is highly fragmented, with no single player being able to dominate or significantly influence the industry. Surgeons usually practise locally or regionally and work for themselves, or are employed by a larger hospital or clinic. The high barriers to entry within this industry have limited competition, thus maintaining the high level of fragmentation and resisting the consolidation prevalent elsewhere in the healthcare sector.
The continued ageing of the Australian population and the higher prevalence of obesity will continue to support industry revenue growth. 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.
For more information, visit IBISWorlds Plastic Surgeons report in Australia industry page.
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IBISWorld industry Report Key Topics
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.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Technology & Systems
Regulation & Policy
About IBISWorld Inc.
Recognised as the nations most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.
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