Australia’s cosmetic surgery industry worth $1 billion

Experts speaking at a conference run by the Australasian College of Cosmetic Surgery (ACCS) have revealed that the cosmetic surgery industry in Australia is now worth $1 billion annually. The Cosmetex Conference opened in Hobart, Tasmania, yesterday and is expected to be attended by more than 700 doctors and surgeons from across Australia and the rest of the world over the next three days. On the opening day, the ACCS president Russell Knudsen told delegates that the effects of the recession had not adversely affected the market. “Demand for cosmetic medical procedures has continued to rise with college member practices reporting increases of 10-20 per cent over the last 12 months," he said. Dr Knudsen added: "When you consider the number of cosmetic procedures performed, and the number of take-home anti-ageing products consumed, it is reasonable to estimate that Australians now spend as much as $1 billion annually on appearance medicine." It was revealed that the $1 billion annual value of the market was made up of a variety of procedures, including approximately 16,000 breast augmentations and 15,000 liposuction surgeries performed last year.