NIMA market not just a pretty face
The non-invasive medical aesthetics (NIMA) market is a relatively new sector, but don’t let its youth fool you – it’s a strong and lucrative category that’s showing no signs of slowing down.
So, who is this new player in the industry?
NIMA is classified as non-surgical cosmetic treatments that don’t involve cutting under the skin or general anaesthesia.
Think anti-wrinkle injections (eg, Botox™), chemical facial peels, dermal fillers, laser and light-based therapies like hair removal, body sculpting, and tattoo removal.
NIMA treatments are performed by doctors and registered nurses and are carried out in specialist clinics that you would likely have seen popping up in your local communities over the last ten years.
The growth trajectory of the category has been rapid. Go back five years and Australians were spending $773 million on non-invasive cosmetic treatments – up 20 per cent from 2011. Now, Australians are spending $1 billion per annum and we have one of the highest per capita spending on cosmetic treatments globally*.
There are many factors driving our love for the industry, but one of the main ones is accessibility. While Botox™ has been consumerised for 15 years now, being able to access treatments like body sculpting (fat freezing, for those new to this space), needling, and dermal fillers at your local beauty clinic, is relatively new. Previously, with some of these procedures, you’d have to go under general anaesthesia and expect a large cost and a lengthy recovery time. However, advances in the way they can be performed have reduced the price and opened up the market to every day Australians. These advances have also allowed for the treatments to be performed outside of hospitals or day clinics, albeit still by a qualified medical practitioner.
And because of this, the number of Australians investing in these treatments has risen sharply, which has resulted in society being more open and accepting of the industry. This is highlighted in the Cosmetic Physicians College of Australasia’s 2016 annual survey of the industry, where 80 per cent of respondents answered that they found it acceptable to use non-surgical cosmetic treatments to address ageing, an increase of 10 per cent over the last three years.
However, it’s not just Australians who’ve discovered the first signs of ageing who are spending in the NIMA sector. The industry’s also benefitting from millennials who are turning to anti-wrinkle injections, chemical peels and microdermabrasion to prevent the signs of ageing before it even starts. This is likely once again due to the increase in the number of Australians spending in the sector having a normalising effect on the rest of society, as well as the costs and risks not being as high.
So, it’s a booming market but will it continue on the same trajectory? The clear answer is, yes it will. The NIMA sector is demonstrating double-digit annual growth and with new treatments continuing to emerge and more Australians (particularly younger people and males) seeking non-invasive cosmetic treatments, the sector’s showing no signs of ageing any time soon.
*Cosmetic Physicians College of Australasia
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