Market Insights Health Medical Technology Medical Devices

General & Plastic Surgery Devices - CIS

The General & Plastic Surgery Devices market market in the Commonwealth of Independent States (in Commonwealth of Independent States (CIS)) is expected to achieve a revenue of US$0.31bn by the year 2024.
This figure is projected to grow at an annual growth rate (CAGR 2024-2029) of 5.23%, ultimately leading to a market volume of US$0.40bn by the year 2029.
When compared globally, the United States is anticipated to generate the highest revenue, with a projected amount of US$9,844.00m in 2024.
In the CIS region, the demand for advanced plastic surgery devices is on the rise, as more people seek aesthetic treatments to enhance their appearance.

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

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Analyst Opinion

The General & Plastic Surgery Devices market in CIS is experiencing significant growth due to several factors.

Customer preferences: Customers in CIS countries are increasingly seeking plastic surgery and cosmetic procedures to enhance their appearance. This growing demand for aesthetic procedures is driving the market for general and plastic surgery devices. Additionally, there is a rising trend of medical tourism in the region, with patients from neighboring countries traveling to CIS countries for affordable and high-quality plastic surgery procedures. This influx of patients is further boosting the demand for general and plastic surgery devices.

Trends in the market: One of the key trends in the CIS market for general and plastic surgery devices is the adoption of advanced technology. Surgeons are increasingly using minimally invasive techniques and innovative devices to achieve better results and minimize patient discomfort. This includes the use of laser technology, robotic-assisted surgery, and 3D imaging systems. The demand for these advanced devices is driving the growth of the market in the region. Another trend in the market is the increasing popularity of non-surgical cosmetic procedures. Patients are opting for non-invasive treatments such as Botox injections, dermal fillers, and chemical peels to rejuvenate their appearance. The demand for devices used in these procedures, such as injectors and dermal rollers, is on the rise in the CIS market.

Local special circumstances: The CIS region is characterized by a large population and a growing middle class with disposable income. This has led to an increase in the number of people who can afford plastic surgery and cosmetic procedures. Moreover, the cultural acceptance of cosmetic enhancements is also contributing to the growth of the market. In some CIS countries, there is a strong emphasis on physical appearance, and individuals are willing to invest in procedures to improve their looks.

Underlying macroeconomic factors: The economic development and increasing healthcare expenditure in CIS countries are driving the growth of the general and plastic surgery devices market. Governments in the region are investing in healthcare infrastructure and promoting medical tourism, which is attracting patients from both within and outside the region. Additionally, the rising awareness about the benefits of plastic surgery and the availability of financing options are also contributing to the market growth. In conclusion, the General & Plastic Surgery Devices market in CIS is witnessing significant growth due to increasing customer preferences for aesthetic procedures, adoption of advanced technology, and the presence of local special circumstances. The underlying macroeconomic factors, such as economic development and healthcare expenditure, are also fueling the market growth in the region.

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.