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LATAM Aesthetic Devices Market Industry Trends and Forecast to 2031

Medical Devices

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LATAM Aesthetic Devices Market Industry Trends and Forecast to 2031

  • Medical Devices
  • Upcoming Report
  • Feb 2024
  • Country Level
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

LATAM Aesthetic Devices Market, By Products (Facial Aesthetic Products, Body Contouring Devices, Cosmetic Implants, Hair Removal Devices, Skin Aesthetic Devices, Others), End User (Dermatology Clinics, Cosmetic Centers, Hospitals, Homecare, Medical Spas and Beauty Centers and Academic, Private Research Institutes), Distribution Channel (Direct Tender, Retail) - Industry Trends and Forecast to 2031.

LATAM Aesthetic Devices Market Analysis and Size

Aesthetic devices are the medical devices used for different types of cosmetic surgeries, including trimming off excess fat, plastic surgery, anti-aging, unwanted hair removal, skin tightening, and aesthetic implants among others, and all these treatments are used to prettify and improve the appearance of the body. The increase in demand for good aesthetic appearance, the rise in initiatives of various aesthetic societies to increase awareness about breast cancer and obesity, and the rising prevalence of breast cancer in the LATAM region are the factors that act as drivers for the growth of the LATAM aesthetic devices market.

Data Bridge Market Research analyzes that the LATAM aesthetic devices market which was USD 0.71 billion in 2023, is likely to reach USD 1.20 billion by 2031, and is expected to undergo a CAGR of 6.8% during the forecast period. “Facial aesthetic products” dominate the product segment of the aesthetics market due to the rising demand or focus on facial beauty. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2016-2022)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

By Products (Facial Aesthetic Products, Body Contouring Devices, Cosmetic Implants, Hair Removal Devices, Skin Aesthetic Devices, Others), End User (Dermatology Clinics, Cosmetic Centers, Hospitals, Homecare, Medical Spas and Beauty Centers and Academic, Private Research Institutes), Distribution Channel (Direct Tender, Retail)

Countries Covered

  • Brazil, Mexico, Argentina, Colombia, Venezuela, Peru, Chile, Rest of Latin America

Market Players Covered

Johnson & Johnson Services, Inc. (U.S.), Sientra, Inc. (U.S.), CEREPLAS (France), DPS Technology Development Ltd (India), AbbVie Inc. (U.S.), Solta Medical (A Subsidiary of Bausch Health Companies Inc.) (U.S.), Merz Pharma (Germany), Candela Medical (U.S.), Alma Laser (A Subsidiary of Sisram Medical Ltd) (Israel), Venus Concept (Canada), Fotona (U.S.), GALDERMA (Switzerland), Genesis Biosystems, Inc. (U.S.), LABORATOIRES ARION (France)

Market Opportunities

  • Increasing technological advancements
  • Increasing demand of aesthetic procedures

Market Definition

Aesthetic devices refer to a category of medical and cosmetic equipment designed for non-invasive or minimally invasive procedures that enhance or rejuvenate the appearance of the skin, body, or face. These devices are commonly used in aesthetic or cosmetic medicine to address various concerns such as skin aging, wrinkles, scars, unwanted hair, and body contouring.

LATAM Aesthetic Devices Market Dynamics

Drivers

  • Increasing emergence of non- invasive procedures

There's a growing preference for non-invasive or minimally invasive aesthetic procedures due to their reduced downtime and lower risk. Manufacturers focusing on developing devices for these types of treatments can capitalize on this trend.

  • Rising medical tourism

Some countries in LATAM, such as Brazil and Mexico, are popular destinations for medical tourism, including cosmetic procedures. This trend creates opportunities for clinics and aesthetic device manufacturers to cater to both local and international patients seeking aesthetic treatments.

Opportunities

  • Increasing demand of aesthetic procedures

There's an increasing demand for aesthetic treatments across LATAM countries driven by a desire for improved appearance and self-confidence. This demand spans various age groups and demographics, offering a sizable market for aesthetic devices and procedures.

  • Increasing technological advancements

Advancements in aesthetic technologies present opportunities for manufacturers to introduce innovative and advanced devices into the market. Products offering safer, less invasive, and more effective treatments are likely to gain traction among consumers and practitioners.

Restrains

  • Strict regulations and guidelines

Stringent and varying regulatory frameworks across different countries within Latin America pose a challenge for market entry and product approvals. Companies need to navigate complex regulatory processes and adhere to country-specific requirements, which can delay market entry and increase costs.

  • High treatment cost

Affordability remains a significant concern in the region. Aesthetic procedures and devices often come at a premium cost, which might limit their accessibility to a broader population. Manufacturers need to balance innovation with cost-effectiveness to cater to a diverse market.

Challenge

  • Limited reimbursement policies

Limited insurance coverage for aesthetic procedures can be a barrier to adoption. Patients often have to bear the full cost of treatments, which may deter them from opting for these procedures.

This aesthetic devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the aesthetic devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

LATAM Aesthetic Devices Market Scope

The aesthetic devices market is segmented on the basis of products, end user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Products

  • Facial Aesthetic Products
  • Body Contouring Devices
  • Cosmetic Implants
  • Hair Removal Devices
  • Skin Aesthetic Devices
  • Others

End User

  • Dermatology Clinics
  • Cosmetic Centres
  • Hospitals
  • Homecare
  • Medical Spas and Beauty Centres
  • Academic and Private Research Institutes

Distribution Channel

  • Direct Tender
  • Retail

LATAM Aesthetic Devices Market Regional Analysis/Insights

The aesthetic devices market is analyzed and market size information is provided by country, products, end user and distribution channel.

The countries covered in the market report are the Brazil, Mexico, Argentina, Colombia, Venezuela, Peru, Chile, Costa Rica, Panama, Uruguay, Paraguay and rest of Latin America.

Latin America is expected to dominate the market due to the high adoption of aesthetic devices for the treatment of mastectomy associated with cancer in the region and Latin America is expected to growth with the highest CAGR in the forecasted period due to the increasing medical tourism for the aesthetic procedures in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Latin America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.

 Healthcare Infrastructure growth Installed base and New Technology Penetration

The aesthetic devices market also provides you with detailed market analysis for every country growth in particular industry with aesthetic devices sales, impact of advancement in the aesthetic devices and changes in regulatory scenarios with their support for the aesthetic devices market. The data is available for historic period 2010-2021.

Competitive Landscape and LATAM Aesthetic Devices Market Share Analysis

The aesthetic devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to aesthetic devices market.

Some of the major players operating in the aesthetic devices market are:

  • Johnson & Johnson Services, Inc. (U.S.)
  • Sientra, Inc. (U.S.)
  • CEREPLAS (France)
  • DPS Technology Development Ltd (India)
  • AbbVie Inc. (U.S.)
  • Solta Medical (A Subsidiary of Bausch Health Companies Inc.) (U.S.)
  • Merz Pharma (Germany)
  • Candela Medical (U.S.)
  •  Alma Laser (A Subsidiary of Sisram Medical Ltd) (Israel)
  •  Venus Concept (Canada)
  • Fotona (U.S.)
  • GALDERMA (Switzerland)
  • Genesis Biosystems, Inc. (U.S.)
  • LABORATOIRES ARION (France)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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