Argentina Aesthetic Devices Market Size
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | 5.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Argentina Aesthetic Devices Market Analysis
The Argentine aesthetic devices market is expected to register a CAGR of 5.5% during the forecast period.
The pandemic affected the studied market's growth. Elective surgeries were either canceled or postponed. A research study published in the National Library of Medicine in October 2021 discussed pandemic-induced uncertainties regarding the health system's control and access to effective vaccines. However, after the end of the lockdown, medical tourism boosted and contributed to the market's growth. In March 2022, a press release published in ChromeNews stated that Argentina's standards for medical care, practices, treatments, and knowledge are at par with those in the United States and Europe. Unlike many other medical tourism destinations, Buenos Aires is renowned for having exceptionally skilled surgeons in various specialties. Cosmetic surgery is the most popular type of surgery performed here. Currently, as the pandemic has subsided, the market has gained some traction, due to which the market is expected to have stable growth during the forecast period of the study.
The market's growth is attributed to the increasingly obese population, increasing awareness regarding aesthetic procedures, rising adoption of minimally invasive devices, and technological advancement. Furthermore, increasing R&D expenditure by innovators and generic players and a rising aging population will fuel the Argentine aesthetic devices market.
As per the Latin America Hospital Data Portrait report published in March 2021, Argentina's healthcare system included almost 2.4 thousand hospitals, nearly 2.9 thousand operating rooms, and over 106 thousand hospital beds as of 2021. This factor is expected to play a crucial role in the growth of the studied market in the country over the forecast period, as the availability of favorable infrastructure is expected to increase the adoption of treatment in the country. Thus, such technological advancement is expected to increase the efficiency of the treatment, which is expected to increase market growth during the forecast period. However, social stigma concerns and complex reimbursement scenarios are expected to hinder the market growth.
Argentina Aesthetic Devices Market Trends
This section covers the major market trends shaping the Argentina Aesthetic Devices Market according to our research experts:
Ultrasound Aesthetic Device Expected to Hold Significant Market Share
Aesthetic ultrasound devices are used in aesthetic procedures, such as plastic surgeries. Various factors, viz., increasing aesthetic surgeries and launches of the operating room in the country, are expected to increase the adoption of aesthetic ultrasound devices during the forecast period. According to the December 2021 report of the International Society of Aesthetic Plastic Surgery, Argentina was one of the country's top ten countries with many cosmetic procedures. In 2020, about 284,320 cosmetic surgical procedures were performed in the country. Hence, with the rising number of surgeries in the country, the demand for aesthetic devices market in the country is expected to increase, which is expected to boost growth in the studied market.
Similarly, the launch of new operating rooms in the country is another factor in market growth. In April 2021, the Dr. Ramón Carrillo Hospital Center, located in the provincial capital San Luis, was inaugurated by the Chief of the Cabinet of Ministers of the Nation. As per the reports, the hospital has 400 beds in undifferentiated common hospitalization, critical hospitalization, shock room, on-call observation, and 15 operating rooms: 9 general and 6 specialties, including a hybrid operating room. Such launches are expected to increase the adoption of aesthetic ultrasound devices during the forecast period.
Thus, the abovementioned factors, such as increasing surgical procedures, are expected to augment market growth during the forecast period.
Laser-based Aesthetic Device Expected to Have Significant Market Growth
Laser-based aesthetic devices are used in treating various aesthetic disorders or conditions with high energy. Factors such as obesity and aesthetic surgical procedures are expected to increase market growth over the forecast period. People's concern about their appearance is gradually on the rise. Therefore, there is an expected growth rate of procedures, especially with the increasing obesity rate in the country. For instance, the World Obesity Atlas 2022, published in March 2022, stated that in Argentina, around 2.5 million children are expected to be affected by obesity by 2030. Increasing obesity is expected to increase the adoption of aesthetic treatment in the country, thus increasing the market growth during the forecast period.
Furthermore, increasing surgical procedures are expected to increase the market growth. According to IASPS 2020, Argentina holds 6th rank in the world in breast augmentation procedures and holds 4th rank in rhinoplasty procedures. The country has over 2,000 plastic surgeons, a significant factor indicating a well-established aesthetics industry. Thus, increasing surgical treatment is expected to increase the consumption of laser-based aesthetic devices, which is expected to increase segmental growth.
Argentina Aesthetic Devices Industry Overview
The Argentine aesthetic devices market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market are AbbVie Inc. (Allergan Inc.), Alma Lasers Ltd (Sisram Med), Bausch Health Companies Inc. (Solta Medical, Inc.), Johnson & Johnson, and Candela, among others.
Argentina Aesthetic Devices Market Leaders
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Johnson & Johnson
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AbbVie Inc. (Allergan Inc.)
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Alma Lasers Ltd. (Sisram Med)
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Bausch Health Companies Inc. (Solta Medical, Inc.)
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Candela
*Disclaimer: Major Players sorted in no particular order
Argentina Aesthetic Devices Market News
- Aug 2022: A press release by Tecnoimagen SA, a Candela Medical distributor in Argentina, stated that the company Inmode presented the first clinical publication on the effectiveness of the TRANSFORM applicator. TRANSFORM is a safe, effective, non-invasive option for fat lipolysis and muscle hypertrophy. In some patients, TRANSFORM may result in modest reductions in abdominal circumference.
- Sep 2021: Galderma launched a new portfolio of dermal fillers and toxin injections. Moreover, Galderma and Ipsen have had a strategic partnership under which Galderma has promoted and distributed Ipsen's botulinum toxin type-A products, covering Argentina and other countries.
Argentina Aesthetic Devices Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions & Market Definition
- 1.2 Scope Of The Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increasing Obese Population
- 4.2.2 Increasing Awareness Regarding Aesthetic Procedures and Rising Adoption of Minimally Invasive Devices
- 4.2.3 Technological Advancement in Devices
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4.3 Market Restraints
- 4.3.1 Social Stigma Concerns
- 4.3.2 Complex Reimbursement Scenario
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4.4 Industry Attractiveness - Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD Million)
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5.1 By Type of Device
- 5.1.1 Energy-based Aesthetic Device
- 5.1.1.1 Laser-based Aesthetic Device
- 5.1.1.2 Radiofrequency (RF) Based Aesthetic Device
- 5.1.1.3 Light-based Aesthetic Device
- 5.1.1.4 Ultrasound Aesthetic Device
- 5.1.2 Non-energy-based Aesthetic Device
- 5.1.2.1 Botulinum Toxin
- 5.1.2.2 Dermal Fillers and Aesthetic Threads
- 5.1.2.3 Microdermabrasion
- 5.1.2.4 Implants
- 5.1.2.5 Other Aesthetic Devices
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5.2 By Application
- 5.2.1 Skin Resurfacing and Tightening
- 5.2.2 Body Contouring and Cellulite Reduction
- 5.2.3 Hair Removal
- 5.2.4 Breast Augmentation
- 5.2.5 Other Applications
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5.3 By End-user
- 5.3.1 Hospital
- 5.3.2 Clinics
- 5.3.3 Home Settings
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 AbbVie Inc. (Allergan Inc.)
- 6.1.2 Alma Lasers Ltd (Sisram Med)
- 6.1.3 Bausch Health Companies Inc. (Solta Medical, Inc.)
- 6.1.4 Johnson & Johnson
- 6.1.5 Candela
- 6.1.6 Sciton Inc.
- 6.1.7 Venus Concept
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Argentina Aesthetic Devices Industry Segmentation
Aesthetic devices refer to all medical devices used for various cosmetic procedures, including plastic surgery, unwanted hair removal, excess fat removal, anti-aging, aesthetic implants, skin tightening, etc., that are used for beautification, correction, and improvement of the body. Aesthetic procedures include both surgical and non-surgical procedures. The surgical procedure includes liposuction, breast implants, facelifts, radiofrequency, and other related procedures. The non-surgical procedures include chemical peel, non-surgical liposuction, skin tightening procedures, etc.
The Argentina Aesthetic Devices Market is Segmented by Type of Device (Energy-based Aesthetic Device (Laser-based Aesthetic Device, Radiofrequency (RF) Based Aesthetic Device, Light-based Aesthetic Device, and Ultrasound Aesthetic Device), Non-energy-based Aesthetic Device (Botulinum Toxin, Dermal Fillers and Aesthetic Threads, Microdermabrasion, Implants, and Other Aesthetic Devices)), Application (Skin Resurfacing and Tightening, Body Contouring and Cellulite Reduction, Hair Removal, Breast Augmentation, and Other Applications), and End-user (Hospitals, Clinics, and Home Settings). The report offers the value (in USD million) for the above segments.
| By Type of Device | Energy-based Aesthetic Device | Laser-based Aesthetic Device |
| Radiofrequency (RF) Based Aesthetic Device | ||
| Light-based Aesthetic Device | ||
| Ultrasound Aesthetic Device | ||
| By Type of Device | Non-energy-based Aesthetic Device | Botulinum Toxin |
| Dermal Fillers and Aesthetic Threads | ||
| Microdermabrasion | ||
| Implants | ||
| Other Aesthetic Devices | ||
| By Application | Skin Resurfacing and Tightening | |
| Body Contouring and Cellulite Reduction | ||
| Hair Removal | ||
| Breast Augmentation | ||
| Other Applications | ||
| By End-user | Hospital | |
| Clinics | ||
| Home Settings |
Argentina Aesthetic Devices Market Research FAQs
What is the current Argentina Aesthetic Devices Market size?
The Argentina Aesthetic Devices Market is projected to register a CAGR of 5.5% during the forecast period (2024-2029)
Who are the key players in Argentina Aesthetic Devices Market?
Johnson & Johnson, AbbVie Inc. (Allergan Inc.), Alma Lasers Ltd. (Sisram Med), Bausch Health Companies Inc. (Solta Medical, Inc.) and Candela are the major companies operating in the Argentina Aesthetic Devices Market.
What years does this Argentina Aesthetic Devices Market cover?
The report covers the Argentina Aesthetic Devices Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Argentina Aesthetic Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Argentina Aesthetic Devices Industry Report
Statistics for the 2024 Argentina Aesthetic Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Argentina Aesthetic Devices analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
