LATAM Aesthetic Devices Market, By Products (Facial Aesthetic Products, Body Contouring Devices, Cosmetic Implants, Hair Removal Devices, Skin Aesthetic Devices and Others), End User (Dermatology Clinics, Cosmetic Centers, Hospitals, Homecare, Medical Spas and Beauty Centers and Academic and Private Research Institutes), Distribution Channel (Direct Tender and Retail), Country (Brazil, Mexico, Argentina, Colombia, Venezuela, Peru, Chile and Rest of Latin America) Industry Trends and Forecast to 2028.
Market Analysis and Insights: LATAM Aesthetic Devices Market
Aesthetic devices market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.8% in the forecast period of 2021 to 2028 and is expected to reach USD 359,813.65 thousand by 2028. Rising incidence of obesity and increased technological advancement are the major drivers which propelled the demand of the market in the forecast period.
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, 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, rise in initiatives of various aesthetic societies to increase awareness about breast cancer and obesity, 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. However, the recall of various aesthetic devices & accessories is hampering the market growth. The emergence of COVID-19 acts as a challenging factor for the growth of the LATAM aesthetic devices market.
The aesthetic devices market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Latin America Aesthetic Devices Market Scope and Market Size
The aesthetic devices market is segmented on the basis of products, end user and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of products, the LATAM aesthetic devices market is segmented into facial aesthetic products, body contouring devices, cosmetic implants, hair removal devices, skin aesthetic devices and others. In 2021 skin aesthetic devices segment is dominating the market because of the increased demand for aesthetic beauty among both men and women.
- On the basis of end user, the LATAM aesthetic devices market is segmented into dermatology clinics, cosmetic centres, hospitals, homecare, medical spas and beauty centres and academic and private research institutes. In 2021 hospitals segment is dominating the market because hospitals can make high capital investments to bring technologically advanced and the latest aesthetic devices and accessories.
- On the basis of distribution channel, the LATAM aesthetic devices market is segmented into direct tender and retail. In 2021 direct tender segment is dominating the market because the direct tenders provide the wider pool of products to select from and is less expensive as compared to other distribution channel.
Aesthetic Devices Market Country Level Analysis
The aesthetic devices market is analysed and market size information is provided by country, products, end user and distribution channel.
The countries covered in the aesthetic devices 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. Brazil is dominating in the market and leading the growth in the LATAM market due to rising prevalence of breast cancer. Mexico is growing with second highest growth due to increased awareness of aesthetic devices in the region. Argentina is growing due to the increased demand for aesthetic devices 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.
Increasing acquisition and merger in aesthetic devices market is creating new opportunities for players in the aesthetic devices market
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 theesthetic devices and changes in regulatory scenarios with their support for the aesthetic devices market. The data is available for historic period 2011 to 2019.
Competitive Landscape and Aesthetic Devices Market Share Analysis
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.
The major players covered in the report are Johnson & Johnson Services, Inc., Sientra, Inc., CEREPLAS, DPS Technology Development Ltd, AbbVie Inc., Solta Medical (A Subsidiary of Bausch Health Companies Inc.), Merz Pharma, Candela Medical, Alma Laser (A Subsidiary of Sisram Medical Ltd), Venus Concept, Fotona, GALDERMA, Genesis Biosystems, Inc. and LABORATOIRES ARION and other players domestic and global. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launch and agreement are also initiated by the companies’ worldwide which are also accelerating the aesthetic devices Market.
For instance,
- In February 2021, Merz Pharma announced that its Aesthetic business, Merz Aesthetics launched its product named BELOTERO BALANCE (+), the lidocaine formulation of BELOTERO BALANCE which provides face filler. This new product launched by the company has increased its credibility and demand in the market leading to increased revenue in future.
Collaboration, joint ventures and other strategies by the market players is enhancing the company market in the aesthetic devices market which also provides the benefit for organisation to improve their offering for aesthetic devices.
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