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General & Plastic Surgery Devices - NAFTA

NAFTA

The General & Plastic Surgery Devices market market in the North American Free Trade Agreement (in North American Free Trade Agreement (NAFTA)) is anticipated to witness a substantial growth in revenue, with a projected value of US$10.88bn by the year 2024.
Furthermore, it is expected to exhibit a steady annual growth rate (CAGR 2024-2029) of 5.41%, ultimately leading to a market volume of US$14.16bn by 2029.
When compared globally, it is worth noting that the United States will play a significant role in generating the majority of the revenue.
In 2024, the United States is projected to contribute US$9,844.00m to the market.
In the NAFTA region, the demand for General & Plastic Surgery Devices is on the rise due to the high demand for cosmetic procedures in countries like the United States and Mexico.

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

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Analyst Opinion

The General & Plastic Surgery Devices market in NAFTA is experiencing steady growth due to a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the General & Plastic Surgery Devices market in NAFTA are driving the demand for advanced and innovative surgical devices. Patients are increasingly seeking minimally invasive procedures that offer shorter recovery times and less scarring. As a result, there is a growing demand for devices such as laser systems, injectables, and non-surgical treatments. Additionally, there is a rising interest in cosmetic procedures among the aging population, as individuals look to maintain a youthful appearance and improve self-confidence. Trends in the market include the adoption of new technologies and techniques in plastic surgery. Surgeons are increasingly using 3D imaging and virtual reality tools to plan and simulate procedures, improving accuracy and patient outcomes. Furthermore, there is a growing trend towards personalized medicine, with surgeons using genetic testing and personalized treatment plans to optimize results. Additionally, there is a shift towards outpatient procedures, as advancements in technology and anesthesia allow for safer and more efficient surgeries in non-hospital settings. Local special circumstances in NAFTA countries also contribute to the development of the General & Plastic Surgery Devices market. The United States, Canada, and Mexico have well-established healthcare systems and infrastructure, which support the growth of the market. Additionally, there is a high level of consumer awareness and acceptance of plastic surgery procedures in these countries, creating a favorable market environment. Moreover, the presence of well-trained and experienced plastic surgeons in the region further drives the demand for advanced surgical devices. Underlying macroeconomic factors such as increasing disposable income and healthcare expenditure also play a role in the growth of the General & Plastic Surgery Devices market in NAFTA. As the economy improves, individuals have more discretionary income to spend on cosmetic procedures. Moreover, governments in NAFTA countries are investing in healthcare infrastructure and technology, creating a favorable environment for the development and adoption of surgical devices. In conclusion, the General & Plastic Surgery Devices market in NAFTA is experiencing growth due to customer preferences for advanced and minimally invasive procedures, market trends towards new technologies and personalized medicine, local special circumstances including well-established healthcare systems and consumer acceptance of plastic surgery, and underlying macroeconomic factors such as increasing disposable income and healthcare expenditure.

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.