(PharmaNewsWire.Com, April 16, 2020 ) Market Overview • The Canadaaesthetic Devices is expected to grow at a CAGR of 10 - 12 % during the forecast period (2019-2026) • The market is majorly driven by several factors such as the increasing demand for minimally invasive reconstruction surgeries, technological advancement, congenital face and tooth deformities, and awareness about aesthetics appearance. • However, the market growth is constrained by few factors such as risks of malfunctions, the high cost of treatment and low reimbursements.
Market Growth • Increased adoption of minimally invasive surgeries due to the fewer post-surgery complications and side effects and shorter recovery spans have driven innovations and technological developments, bringing about a huge change in the quality and effectiveness of surgeries. • As a result, the number of minimally invasive procedures in dermatological applications has significantly increased lately. • Canadas aesthetic device sector is a highly diversified and export-oriented industry that manufactures equipment and supplies where purchasers include Canadian and international hospitals, physician’s offices, laboratories, clinics, as well as patients (through direct purchases). • The aesthetic device sector is populated with companies driven by product innovation. • The industry is able to draw on world-class innovative research being conducted in Canadian universities, research institutes and hospitals, some of which has been spun-off into Canadian medical device companies. • Approximately 10% of Canada’s medical device companies have spun off from Canadian research organizations.
Market Segmentation • The Canada Aesthetic Devices is segmented by product types such as Aesthetic Laser and Energy Devices, Skin Tightening and Body Contouring Devices, Aesthetic Implants, and Facial Aesthetic Devices. • Based on application, the market is segmented into Facial and Body Contouring, Facial & Skin Rejuvenation, Breast Enhancement, Scar Treatment, Congenital Defect Repair, Reconstructive Surgery, Tattoo Removal, and Hair Removal. By Technology, it is segmented into Laser-Based Technology and Energy Based Technology.
Competitive Insights • The major companies in the Aesthetic Devices market include Cynosure Inc, Syneron Medical Ltd, Valeant Pharmaceuticals International Inc, Lumenis Ltd, Viora Canda Ltd, Alma Lasers, Ltd., SharpLight, Invasix.
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