South America Aesthetic Medical Devices Market is expected to reach US$ 1,743.17 million by 2028

At 11.1% CAGR, the SAM Aesthetic Medical Devices Market is speculated to be worth US$ 1,743.17 million by 2028, says Business Market Insights              

According to Business Market Insights’ research, the SAM aesthetic medical devices market was valued at US$ 929.17 million in 2022 and is expected to reach US$ 1,743.17 million by 2028, registering an annual growth rate of 11.1% from 2022 to 2028.  Growing adoption of minimally invasive and non-invasive aesthetic procedures and increasing prevalence of skin disorders and rising awareness about beauty devices are the critical factors attributed to the market expansion.                

The World Health Organization (WHO) recognizes waste reduction in healthcare delivery as an important aspect of strengthening health systems. Technological advancements have led to the development of surgical approaches that minimize waste and achieve better results with the available resources. Minimally invasive surgeries (MIS) are among the approaches that result in low waste generation and reduced medical expenses; moreover, these surgeries ensure low absenteeism at the workplace, which has a net positive effect on the productivity of an economy. The modern concept of natural and harmonious rejuvenation is based on a comprehensive, three-dimensional, multi-layered approach that combines several active ingredients and techniques in surgical procedures such as skin relaxation, volume enlargement, repositioning, reshaping, surface renewal, and skin tightening, depending on the specific patient needs. Since the appearance of the skin is considered an important factor in wellbeing and health, the number of aesthetic procedures performed worldwide is increasing steadily. Further, nonsurgical procedures include facial injections and cryolipolysis, among others. These short procedures help correct facial lines, wrinkles, cellulite reduction, and unwanted fat reduction with minimal side effects. The International Society of Aesthetic Plastic Surgery (ISAPS) defines a nonsurgical cosmetic procedure as an effective and safe procedure for those who are willing to undergo subtle enhancement and surgical result enhancement with lower recovery periods; these procedures often do not require extensive training, unlike surgical procedures that are associated with greater risks. As per ISAPS estimations, the number of nonsurgical cosmetic procedures increased by 44% in 2021 compared to 2020. With the proliferation of the medical aesthetics industry, competition is also inevitably increasing. It is a heterogeneous industry as the competition is not only among beauty clinics specializing in surgical cosmetic procedures, but other beauty service providers such as salons also compete with them. Thus, the surge in the adoption of minimally invasive and noninvasive aesthetic procedures is driving the aesthetics medical market growth.

On the contrary, risks and complications associated with procedures and stringent safety regulations hurdles the growth of SAM aesthetic medical devices market.    

• Based on technology, the SAM aesthetic medical devices market is segmented into laser-based, light-based, electromagnetic energy-based, ultrasound-based, cryolipolysis, suction-based, and plasma energy-based. The laser-based segment held 24.4% market share in 2022, amassing US$ 226.91 million. It is projected to garner US$ 430.07 million by 2028 to expand at 11.2% CAGR during 2022–2028.  
• Based on application, the SAM aesthetic medical devices market is segmented into facial skin resurfacing, photo rejuvenation, hair removal, fat reduction & body contouring, skin tightening, cellulite reduction, feminine rejuvenation, tattoos & pigmentation, acne & scars, vascular lesions, and others. The acne and acne scars segment held 19.2% market share in 2022, amassing US$ 178.62 million. it is projected to garner US$ 325.68 million by 2028 to expand at 10.5% CAGR during 2022–2028.
• Based on end user, the SAM aesthetic medical devices market is segmented into dermatology & cosmetic clinics, hospitals and clinics, medical spas and home use. The dermatology and cosmetic clinics segment held 37.1% market share in 2022, amassing US$ 344.99 million. It is projected to garner US$ 663.10 million by 2028 to expand at 11.5% CAGR during 2022–2028.
• Based on country, the SAM aesthetic medical devices market is segmented into the Brazil, Argentina, and Rest of SAM. Our regional analysis states that Brazil captured 56.9% market share in 2022. It was assessed at US$ 528.28 million in 2022 and is likely to hit US$ 1,007.51 million by 2028, exhibiting a CAGR of 11.4% during the forecast period.    
• Key players dominating the SAM aesthetic medical devices market are Alma Lasers (Sisram Medical), Asclepion Laser Technologies GmbH, Bausch Health Companies Inc., Candela Corporation, Cutera Inc., Fotona, InMode, Jeisys Medical Inc, LASEROPTEK, Lumenis Be Ltd., Lutronic, Merz Pharma, Mesoestetic, and Venus Concept among others.  

• In 2021, BTL, announced that its Emsculpt family of products is the fastest aesthetic device brand to reach one million treatments.

• In 2021, InMode Ltd. announce the launch of the EvolveX platform with Transform technology. EvolveX is a hands-free, zero downtime full body transforming solution equipped with clinically proven technologies to remodel skin, treat fat, and sculpt muscles. The versatility of EvolveX multi-modalities allows physicians to focus on individual patient needs and produce consistent transformative results.

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