Canada Aesthetic Devices Market Size, Share, Industry, Forecast and outlook (2023-2030)
Canada Aesthetic Devices is segmented by product types (Aesthetic Laser and Energy Devices, Skin Tightening and Body Contouring Devices, Aesthetic Implants, Facial Aesthetic Devices), by application (Facial and Body Contouring, Facial & Skin Rejuvenation, Breast Enhancement, Scar Treatment, Congenital Defect Repair, others), By Technology (Laser-Based Technology and Energy Based Technology), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Canada Aesthetic Devices Market Overview
(200 pages]The Canada aesthetic devices market size was valued at US$ 595.92 million in 2022 and is estimated to reach US$ 1,149.00 million by 2030, growing at a CAGR of 8.7% during the forecast period (2023-2030). Aesthetic devices are utilized to treat impairments linked with an aesthetic appearance of a person, such as excessive fat, skin laxity, cellulite, moles, scars, wrinkles, liver spots, unwanted hair, skin discoloration and spider veins
. There is a possibility of replacing body parts that are dysfunctional due to trauma, accidents and other congenital disorders with te help of aesthetic implants.
Canada Aesthetic Devices Market Dynamics and Trends
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, awareness about aesthetics appearance and advancements in technologies leading to novel product launches.
The increasing demand for minimally invasive reconstruction surgeries and rising technological advancements are expected to drive the market’s growth.
The Canada aesthetic devices market is driven by increasing demand for minimally invasive reconstruction surgeries due to the fewer post-surgery complications and side effects and shorter recovery spans have driven innovations and technical 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.
Rising advancements in technology, an increase in the geriatric population, a surge in research and development investment, an increasing number of people with aesthetic appearance awareness and improvements in novel product using the latest technology along with improvement in medical infrastructure in emerging markets. The adoption of these devices is increasing, leading to rising government initiatives and funds. These funds will help produce more developed product. Moreover, the availability of technologically advanced product by key players is also expected to play a vital role in the market’s growth.
Various novel product launches, research studies, and rising awareness initiatives related to these Canada aesthetic devices contribute to the market’s growth. For instance, in January 26, 2021, Allergan Aesthetics, an AbbVie company launched its next generation fat reduction system CoolSculpting Elite, with applicators developed to complement the natural curves of the body. CoolSculpting Elite applying proven CoolSculpting technology for treated fat cells targeting, freezing, and elimination. CoolSculpting Elite system is FDA cleared and is utilized for visible fat bulges treatment in nine body areas including the abdomen, thigh, flank, back fat, bra fat, upper arm, underneath the buttocks and the submandibular and submental areas.
Low reimbursements associated with these aesthetic devices are expected to hamper the market’s growth.
However low reimbursements associated with these aesthetic devices is the key factor which may hamper the market growth. Due to this the clinicians as well as patients hesitate in adopting these aesthetic devices.
The strict rules and regulations for the approval of these devices and the risks of malfunctions, such as risk with RF equipment is the capability for burns by the thermal heating effect for person exposed to high doses. The high cost of treatment as it requires repeated sessions for treatments, which is expensive and is a common factor for limiting the market’s growth.
COVID-19 Impact on Canada Aesthetic Devices Market
The pandemic has negatively impacted worldwide financial expectations, operations and crisis response strategy. The COVID-19 outbreak has severely impacted the healthcare industry. The Canada aesthetic devices market has experienced huge losses due to COVID. Key manufacturers have started various research and clinical trials. Various initiatives, product launches, collaborations and mergers are happening worldwide, boosting the market’s growth. For instance, in March 2, 2021, Iridex Corporation, an innovative ophthalmic laser-based medical products provider for the treatment of retinal diseases and glaucoma, announced its strategic collaboration with Topcon Corporation. Iridex acquires PASCAL product line of Topcon, combining PASCAL laser platform with MicroPulse technology of Iridex.
Canada Aesthetic Devices Market - Segment Analysis
The aesthetic laser and energy devices segment is expected to grow at the fastest CAGR during the forecast period (2023-2030)
The aesthetic laser and energy devices segment is the highest market holder in the Canada aesthetic devices market. The Canada aesthetic devices market is segmented based on product as aesthetic laser and energy devices, skin tightening and body contouring devices, aesthetic implants and facial aesthetic devices. The aesthetic laser and energy devices segment is the largest market shareholder due to the increasing utilization during the cosmetic surgery procedures, increasing technological advancements and novel product launches.
Energy devices includes laser and radiofrequency based technologies. Radio Frequency platform is a technology which is expandable that provides the capability to execute aesthetic surgical and non-surgical applications. The RF equipment along with innovative handpiece is utilized for reducing wrinkles and skin tightening. This is the most modern technique utilized in skin sagging and anti-aging treatments, wrinkles softening and skin laxity reduction. RF platform is a non-invasive treatment, as no cut is required on the skin to perform this procedure and it utilizes mono-polar radio frequency energy.
The growing number of regulatory approvals, technological advancements, product launches, and research/clinical trial studies drives the market’s growth. For instance, in February 3, 2022, Sinclair, an aesthetics company and a subsidiary of Huadong Medicine Company Limited announced about acquiring Viora Group which boost its portfolio of energy-based devices (EBD) and provide a commercial base in the United States. Viora’s non-invasive advanced products are the highly advanced devices incorporating IPL, laser and proprietary RF technologies.
Source: DataM Intelligence Analysis (2022)
Canada Aesthetic Devices Companies and Competitive Landscape
The Canada aesthetic devices market is moderately competitive with local and global companies’ presence. Cynosure Inc, Allergan (AbbVie), Candela Corporation, Bausch Health Companies Inc., Lumenis Be Ltd., Alma Lasers, Venus Concept, Zimmer Aesthetics, Viora (Sinclair Pharma), Alcon Inc., El.En Spa and more. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the market’s growth. For instance, in May 12, 2022, Sinclair, an aesthetics company and a subsidiary of Huadong Medicine Company Limited announced about its exclusive product license and global distribution agreement with EMA Aesthetics Limited for Préime DermaFacial for all territories outside Germany and the UK.
Allergan (AbbVie).
Overview: Allergan plc is a pharmaceutical company which develops, produce and commercialize drugs and medical devices for medical aesthetics, gastroenterology, eye care and central nervous system. This company is a maker of Botox.
Product Portfolio:
CoolTone Device: CoolTone technology directly penetrates into the layers of muscle and generates involuntary muscle contractions using magnetic muscle stimulation for strengthening and toning of abdomen, thighs and buttock.
The Canada aesthetic devices market report would provide access to approx.: 45+market data table, 40+figures and 200 (approximate) pages
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