Market Insights Health Medical Technology Medical Devices

General & Plastic Surgery Devices - Canada

Canada

The General & Plastic Surgery Devices market market in Canada is expected to witness a significant increase in revenue, reaching an estimated value of US$0.57bn in 2024.
Furthermore, this market is projected to experience a steady annual growth rate (CAGR 2024-2029) of 6.20%, which will result in a market volume of US$0.77bn by 2029.
When compared globally, the United States is anticipated to generate the highest revenue in this market, with an estimated value of US$9,844.00m in 2024.
Canada's demand for General & Plastic Surgery Devices in the Medical Technology market is steadily increasing due to a growing aging population and increasing focus on cosmetic procedures.

Key regions: Europe, Japan, United Kingdom, Netherlands, China

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Analyst Opinion

The General & Plastic Surgery Devices market in Canada has been experiencing steady growth in recent years.

Customer preferences: In Canada, there is a growing demand for General & Plastic Surgery Devices. Customers are increasingly seeking out these devices for a variety of reasons, including cosmetic purposes, reconstructive surgeries, and medical treatments. The aging population in Canada is also driving the demand for these devices, as older individuals may require surgical interventions to address age-related issues such as sagging skin, wrinkles, and other signs of aging. Additionally, the increasing awareness and acceptance of plastic surgery procedures among the general population have contributed to the growth of the market.

Trends in the market: One of the key trends in the General & Plastic Surgery Devices market in Canada is the adoption of minimally invasive procedures. Patients are increasingly opting for less invasive procedures that offer quicker recovery times and less scarring. This trend has led to the development of innovative devices that enable surgeons to perform procedures with smaller incisions, resulting in reduced trauma to the patient. The demand for these minimally invasive devices is expected to continue to grow in the coming years. Another trend in the market is the increasing use of technology in surgical procedures. Advances in technology have led to the development of devices that offer improved precision and accuracy, resulting in better outcomes for patients. For example, the use of robotic-assisted surgery has gained popularity in Canada, allowing surgeons to perform complex procedures with enhanced control and precision. This trend is expected to drive the demand for technologically advanced surgical devices in the market.

Local special circumstances: Canada has a well-developed healthcare system that provides access to quality healthcare services for its citizens. The government's commitment to healthcare and the availability of public healthcare coverage contribute to the demand for General & Plastic Surgery Devices. Additionally, Canada has a large number of highly skilled healthcare professionals who are trained in the use of these devices, further driving the market growth.

Underlying macroeconomic factors: The Canadian economy has been relatively stable in recent years, which has contributed to the growth of the General & Plastic Surgery Devices market. The country's strong economy has resulted in increased disposable income among the population, allowing individuals to afford elective surgical procedures. Furthermore, the availability of financing options for these procedures has made them more accessible to a wider range of individuals. The overall positive economic conditions in Canada are expected to continue to support the growth of the General & Plastic Surgery Devices market.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.