South & Central America Aesthetic Medical Devices Market Forecast to 2031 - Regional Analysis - by Technology, Application, and End User

The South & Central America aesthetic medical devices market was valued at US$ 1.19 billion in 2023 and is expected to reach US$ 2.67 billion by 2031; it is estimated to register a CAGR of 10.6% from 2023 to 2031.

Rising Spending on Medical Procedures in Developing Countries Fuel South & Central America Aesthetic Medical Devices Market

Rapid urbanization, increasing investments by healthcare providers in improving infrastructure, growing awareness among the population, and the availability of a wide range of advanced products and technologies in developing economies have contributed to making them the centers of medical tourism. In Brazil healthcare systems focus on introducing various advanced medical aesthetic technologies into their service portfolios. Patients from developed regions travel to emerging countries for various medical aesthetic procedures. Health facilities, medical spas, and wellness centers increasingly offer a comprehensive range of inexpensive but high-quality medical aesthetic procedures.

The spending on cosmetic and rejuvenation procedures to improve aesthetics is rapidly increasing among the global population. In developing countries, there is rising awareness about minimally invasive treatments and acceptance of aesthetic procedures in the population, growing need for an ideal physical appearance, increasing incidence of skin diseases, growing geriatric population, and rising availability and acceptance of technologically advanced medical devices. Thus, rising spending on medical procedures in developing countries is expected to create growth opportunities for the aesthetic medical devices market during the forecast period.

South & Central America Aesthetic Medical Devices Market Overview

The South & Central America aesthetic medical devices market is segmented into Brazil, Argentina, Chile, and the Rest of South & Central America. After the US, Brazil ranked second in terms of the number of cosmetic procedures in 2020. The impressive number of cosmetic procedures in Brazil highlights a profitable market that attracts business opportunities in this area. Brazil has a high number of plastic surgeries. It is one of the countries where this type of procedure is widely practiced. With a very open-minded customer base, cosmetic surgery is booming in Brazil.

According to statistics recently published by the International Society of Aesthetic Plastic Surgery (ISAPS), Brazilian plastic surgeons performed 1,929,359 cosmetic procedures in 2020. Furthermore, an increase in product launches and collaborations among market players in the country is expected to contribute the market growth. For instance, in June 2022, GC Aesthetics, Inc.

announced its expansion plans for the Brazilian market, the second-largest breast augmentation market in the world. The company has been executing an ambitious plan to reposition its brand and product portfolio to offer a smart, unique, clinically proven line of safe products catering to Brazilian women and surgeons. All these factors are likely to drive the growth of the aesthetic medical devices market during the forecast period.

South & Central America Aesthetic Medical Devices Market Revenue and Forecast to 2031 (US$ Million)

South & Central America Aesthetic Medical Devices Market Segmentation

The South & Central America aesthetic medical devices market is categorized into technology, application, end user, and country.

Based on technology, the South & Central America aesthetic medical devices market is divided into laser-based, light-based, electromagnetic energy-based, ultrasound-based, cryolipolysis, suction-based, and plasma energy-based. The laser-based segment held the largest South & Central America aesthetic medical devices market share in 2023.

In terms of application, the South & Central America aesthetic medical devices market is segmented into facial skin resurfacing, photorejuvenation, hair removal, fat reduction and body contouring, skin tightening, cellulite reduction, feminine rejuvenation, tattoos and pigmentation, acne and acne scars, vascular lesions, and others. The acne and acne scars segment held the largest South & Central America aesthetic medical devices market share in 2023.

By end user, the South & Central America aesthetic medical devices market is divided dermatology and cosmetic clinics, hospitals and clinics, medical spas, and home use. The dermatology and cosmetic clinics segment held the largest South & Central America aesthetic medical devices market share in 2023.

By country, the South & Central America aesthetic medical devices market is categorized into Brazil, Argentina, Chile, and the Rest of South & Central America. Brazil dominated the South & Central America aesthetic medical devices market share in 2023.

Merz Pharma GmbH & Co KGaA, Bausch Health Companies Inc, Venus Concept Inc, Fotona, InMode, and Asclepion Laser Technologies GmbH are some of the leading companies operating in the South & Central America aesthetic medical devices market.