Botox and cosmetic injectables industry booming but safety feared to be the cost

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Cosmetic Injectables News

Botox,Dysport,Beauty

The Australian facial injectables industry was estimated to be worth $4.1 billion in 2023, with big corporates including Wesfarmers owning a slice of the market. But the business model behind the boom has attracted complaints and raised some safety concerns.

Cosmetic nurse Priscille Vrljic says her regular clients are spacing out their appointments more, but there are still plenty of new customers.The cosmetic injectables industry was valued at $4.1 billion in Australia last year, by some estimates, and is forecast to grow by 19.3 per cent every year until 2030.

Peter Duncan, 63, has been getting anti-wrinkle injections for about five years, describing it as body maintenance to address a lifetime of sun exposure. Dr Kimmins has found the most common thing her male patients tell her is "their wife made them come in"."They are probably in the workplace for longer, maybe than they were before, and they do become conscious that maybe they feel like the old person in the office."Market researcher Grand View Research valued the Australian facial injectables industry at $4.1 billion in 2023, and forecasts it to grow 19.3 per cent every year until 2030.

Market analyst Jun Bei Liu, from Tribeca Investment Partners, said the cosmetic injectables industry was still strong despite a drop-off in consumer spending as inflation and interest rates bit."We have seen quite a lot of corporate interest into this market as well."In Australia only doctors and nurse practitioners can prescribe the Schedule 4 drugs used for anti-wrinkle injections, or dermal fillers.

There is a lot of money to be made — last year Wesfarmers paid $135 million to buy digital health company InstantScripts.Photo shows Young woman having injection inserted into cheek by hands wearing white plastic gloves. To join Fresh Clinics you need to be a minimum of a graduate year registered nurse and obtain additional training.Cosmetic nurse Priscille Vrljic was able to start her own business after signing up to scripting service Fresh Clinics.

Australian cosmetics giant MCoBeauty has attracted global attention for its strikingly similar beauty dupes, but the company has kept the details of its product development process out of the spotlight — until now. "Or can they prescribe 10 and then they can visit a nurse, an enrolled nurse, following that point, and be administered the injection by that enrolled nurse — that is a question that's yet to be explored, although I think there's some room to look at the reforms closely in that regard."

"It's interesting that cosmetic surgeons are now asked to upskill by doing an extra education program to be identified as endorsed cosmetic surgeons. "I would just encourage people to know the qualifications and the experience of the practitioner that they see," Dr Kimmins told The Business.

 

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