South America Photomedicine Devices and Technologies Market is expected to reach US$ 47.22 million by 2028

Photodynamic Therapy (PDT) Segment to dominate South America Photomedicine Devices and Technologies Market during 2021–2028

According to a new market research study on “South America Photomedicine Devices and Technologies Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Technology and Application,” is expected to reach US$ 47.22 million by 2028 from US$ 35.32 million in 2021. The market is estimated to grow at a CAGR of 4.2% from 2021 to 2028. The report provides trends prevailing in the South America photomedicine devices and technologies market along with the drivers and restraints pertaining to the market growth. Ramping technological advancements in photomedicine, extensive applicability of photomedicine, and fostering demand for minimally invasive and noninvasive therapies are the major factor driving the growth of the South America photomedicine devices and technologies market. However, rigorous regulatory framework hinders the growth of South America photomedicine devices and technologies market.

The outbreak of COVID–19 has severely impacted the flow of medical services in the region. Also, the countries are popular for medical tourism, which is also affected by the pandemic. Brazil, Argentina, Peru, Chile, Uruguay, Colombia is affected by the second wave of corona infection. Among which Brazil has registered the majority of the deaths. It is expected that the region is likely to impose a second lockdown, which will eventually hamper the healthcare industry in the region. Countries in Brazil and Argentina are among the top destinations in the world for aesthetic Technologies. However, the outbreak of COVID–19 has severely impacted the flow of medical services in the region. The Hospital das Clínicas - University of Sao Paulo Medical School (HCFMUSP), the largest university hospital group in Brazil. HCFMUSP has been transformed into a reference center for coronavirus disease 2019. The Division of Plastic Surgery suspended non-essential operations and outpatient consultations, achieving new guidelines (ANG) of national and international associations. Even with these difficulties resulting from the pandemic, options were acknowledged to maintain institutional features. Nevertheless, it is expected that the region is likely to impose a second lockdown, which will eventually hamper the healthcare industry in the area. Moreover, countries are significantly dependent on the US and European countries for their medical resources. Thus, the market in the region has experienced a significant slowdown and is expected to face the same in the following two to three years.

The South America photomedicine devices and technologies market is segmented on the basis of technology, application, and country. Based on technology, the market is segmented into photodynamic therapy (PDT), Immuno-PDT (Photoimmune Therapies), photobiomodulation (Lasers Lights), photodynamic diagnosis, fluorescence-guided surgery, and other technologies. In 2021, Photodynamic Therapy (PDT) segment held the largest share in the market, it is also expected to be the fastest growing segment during the forecast period. Based on application, the market is segmented into aesthetics and dermatology, oncology, ophthalmology, neurology, pain management, wound healing, and other applications. In 2021, aesthetics and dermatology segment held the largest share in the market, it is also expected to be the fastest growing segment during the forecast period. Further based on aesthetics and dermatology, the market is segmented into hair removal, tattoo removal, skin resurfacing, and other applications. In 2021, hair removal segment held the largest share in the market, it is also expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into Brazil, Argentina, and Rest of SAM. In 2021, Brazil held the largest share in the market, and it is also expected to be the fastest growing country during the forecast period.

Alma Lasers, Beurer GmbH, Candela Medica, Koninklijke Philips N.V., Iridex Corporation, Lumenis, and THOR Photomedicine Ltd. are among the leading companies in the South America photomedicine devices and technologies market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Alma, a Sisram Medical Company, Launches Breakthrough ClearSkin PRO.

Contact Us
Contact Person: Sameer Joshi 
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com