The South and Central Americaaesthetic medical laser systems market is expected to reach US$ 154.92million by2027 from US$ 81.17million in 2019. The market is estimated to grow at a CAGR of 8.7% during2020–2027.
The growth of the South and Central Americaaesthetic medical laser systems market is attributed to key driving factors such as growing number of aesthetic and cosmetic procedures and increasing advancements in technologies related to aesthetic medical laser systems. However, the high costs of aesthetic medical laser devices may hinder the market growth.
The rising number of aesthetic and cosmetic procedures is propelling the demand for aesthetic medical laser systems. Argentina is among the emerging countries for the aesthetic procedures across the world. It ranks seventh in the world for total aesthetic procedures. According to International Society of Aesthetic Plastic Surgery (ISAPS), in 2019, the total number of aesthetic procedures performed in the country was 608,960, contributing to 2.6%. Besides, various international and national conferences regarding aesthetics are organized in Argentina that help create awareness regarding the aesthetic laser devices and procedures, which is further expected to influence the growth of the market in the coming future. Also, there is a rise in the number of aesthetic hospitals and clinics in the country. Hospital Universitario Austral, BA Aesthetic Surgery, and RP Medical Center are a few leading aesthetic service providers in Argentina. The services providers offer services such as CO2 laser skin resurfacing, laser hair removal, Medlite laser treatment, and IPL treatment, along with other nonsurgical aesthetic procedures. Thus, the increasing treatment options are expected to drive the market growth across the country in the near future. Thus, an upsurge in aesthetic and cosmetic procedures is driving the South and Central Americaaesthetic medical laser systems market.
Brazil and Argentina are among the top destinations in the world for aesthetic procedures. The outbreak of COVID-19 is adversely affectingthe flow of medical services in the region. In addition, the countries are popular for medical tourism, which is also hindered by the pandemic. Brazil, Argentina, Peru, Chile, Uruguay, and Colombia are hampered by the second wave of the outbreak. Among these countries, Brazil has registered majority of the deaths. As of December 2020, more than 460,000 deaths have been reported in Brazil due to the second wave of the COVID-19 outbreak. It is expected that the region is likely to impose second lockdown, which would eventually hamper the healthcare industry in the region. Moreover, countries are significantly dependent on the US and European countries for their medical resources. Thus, the market in the region is experiencing a significant slowdown and is expected to witness the same in the following two to three years.
Based on type,theSouth and Central America aesthetic medical laser systems market is bifurcated into standalone lasers and multiplatform lasers. Thestandalone lasers segment held a largermarket share in 2019, whereas the multiplatform segment is anticipated to register a higher CAGR in the market during the forecast period.
Based on application,theSouth and Central America aesthetic medical laser systems market is segmented into hair removal, acne and scars, skin rejuvenation, pigmented lesions, leg and varicose veins, and others. The hair removal segment held the largest market share in 2019.However, the skin rejuvenation segment is anticipated to register the highest CAGR in the market during 2020–2027.
The South and Central America aesthetic medical laser systems market, by end user, is segmented into hospitals, clinics, medical spas, and others. The clinics segment held the largest share of the market in 2019, and the same segment is anticipated to register the highest CAGR in the market from 2020 to 2027.
A fewof the primary and secondary sources referred to while preparing the reporton the South and Central Americaaesthetic medical laser systemsmarketare the International Society of Aesthetic Plastic Surgery (ISAPS) and Global Aesthetic Survey.