Canada Aesthetic Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Canada Aesthetic Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Canada Aesthetic Devices Market is projected to register a CAGR of 6.8% during the forecast period (2022-2027).

With the COVID-19 outbreak of 2020, there is a pause to all aesthetic procedures and services as the healthcare in the country was focused on controlling the widespread of the infectious diseases. According to an article titled “Patients in Canada continued to experience longer wait times for surgery during COVID-19 pandemic” published in May 2022, the wait times have improved since the beginning of the pandemic, but patients in Canada continued to experience longer wait times for surgery in 2020–2021 compared with before the pandemic. To keep a close eye on the situation, the Public Health Agency of Canada is collaborating with the World Health Organization, the provinces, the territories, and other nations. Global efforts are concentrated on stopping the spread of the pandemic and containing it. To ensure that any COVID-19 cases that arise in Canada continue to be quickly detected and managed to protect Canadians' health, the Chief Public Health Officer of Canada maintains regular communication with the provincial and territorial Chief Medical Officers of Health. According to Canadian Institute for Health Information (CIHI) data published in 2022, about 600,000 fewer surgeries were performed across Canada since the beginning of the pandemic. Therefore the low number of surgeries was expected to have a significant impact on the market in the country.

The Canadian aesthetic devices market has gained a lot of momentum in recent years due to the increase in the cosmetic procedures being performed. As per an article titled “Medico-legal Closed Case Trends in Canadian Plastic Surgery: A Retrospective Descriptive Study” published in August 2021, a study was conducted with 414 cases, among which 61.1% involved cosmetic procedures. The most common procedures were breast augmentation for 42.7% (108/253), abdominoplasty for 24.5% (62/253), and body contouring for 21.7% (55/253). Thus, the increasing demand for the cosmetic procedures are expected to drive the market in the country. The increasing obese population, demand for lipoplasty is expected to increase, which in turn is expected to drive the aesthetic device market in Canada. The increasing demand for liposuction procedures even though the prices are higher is expected to boost the market growth in the country.

The growing proportion of the obese population, including youth, adult men, and women, will be the primary driver of the aesthetic device market in Canada. As per an article titled “More Than 1 in 4 Canadian Adults Live with Obesity” published in June 2022, around 27% of Canadian adults are considered obese, and this data increases to over 30% for adults between the ages of 40 and 69 years. The prevalence of obesity is higher among men, older persons, and in some areas. British Columbia has the lowest prevalence, while Newfoundland and Labrador have the highest. As per an article titled “Obesity Rates by Country 2022” published by World Population Review-2022, Canada had 29.40% of obese adults. Thus, the increasing prevalence of the obese population in the country is expected to increase the number of aesthetic procedures, which in turn would boost the market growth.

The social stigma concerns and the poor reimbursement scenario are the factors expected to restarin the market growth in the country.

Key Market TrendsBody Contouring and Cellulite Reduction Segment is Expected to Register High Growth in the Forecast Period

Body contouring, or body sculpting, refers to surgical procedures that improve the appearance of skin and tissue after major weight loss. Body contouring surgeries can include panniculectomy (removal of excess skin in the lower abdominal region), abdominoplasty (tummy tuck), liposuction, and excisional body lifts, such as a lower body lift, arm lift (Brachioplasty), inner thigh lift or buttock augmentation.

Lifestyle changes have increased the obese population in Canada. According to an article titled “Examining the association between work stress, life stress and obesity among working adult population in Canada: findings from a nationally representative data” published in March 2022, the obesity among Canadian adults is 18.7% of the working adult population being obese. Obesity is associated with an increased risk of many chronic conditions, such as cancer, hypertension, and type 2 diabetes. Thus, the abovementioned factors contribute to the increasing demand for aesthetic procedures in the country mainly the body contouring procedures which are expected to drive segmental growth.

According to Canadian Institute for Health Information (CIHI), data published in 2022, over the next 20 years, Canada’s seniors population, those age 65 and older is expected to grow by 68% and in the coming 20 years, in 2037, it is expected to number 10.4 million. Hence, an increase in all these diseases is expected to increase the demand for fat reduction therapies and procedures, which will help the growth of body contouring and cellulite reduction segment.

Competitive Landscape

Canada is a developed country and it has the presence of most of the global players in the aesthetic devices market. In terms of market share, a few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Allergan PLC, Alma Lasers, Cutera Inc., Bausch & Lomb Incorporated, Galderma SA (Nestle), Hologic Inc., Lumenis Inc., and LUTRONIC

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• The market estimate (ME) sheet in Excel format
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