Market Size of Argentina Aesthetic Devices Industry
| 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 |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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 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 | |||||||
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| 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 Size Summary
The Argentine aesthetic devices market is poised for stable growth, driven by factors such as an increasing obese population, heightened awareness of aesthetic procedures, and the rising adoption of minimally invasive devices. The market's recovery post-pandemic has been bolstered by the resurgence of medical tourism, with Buenos Aires emerging as a key destination due to its skilled surgeons and high standards of medical care. Technological advancements and increased R&D expenditure by both innovators and generic players are further propelling market expansion. The availability of robust healthcare infrastructure, including a significant number of hospitals and operating rooms, is expected to facilitate the adoption of aesthetic treatments, although social stigma and complex reimbursement scenarios may pose challenges.
The demand for aesthetic devices is anticipated to rise, fueled by the growing number of cosmetic surgeries and the introduction of new operating rooms, such as the Dr. Ramón Carrillo Hospital Center. Laser-based aesthetic devices are gaining traction due to the increasing concern about appearance and the rising obesity rate in Argentina. The country ranks highly in specific cosmetic procedures, indicating a well-established aesthetics industry. Major players like AbbVie Inc. (Allergan Inc.), Alma Lasers Ltd (Sisram Med), and Johnson & Johnson dominate the market, with recent product launches and strategic partnerships enhancing their offerings. These dynamics suggest a moderately competitive market landscape with promising growth prospects.
Argentina Aesthetic Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Obese Population
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1.2.2 Increasing Awareness Regarding Aesthetic Procedures and Rising Adoption of Minimally Invasive Devices
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1.2.3 Technological Advancement in Devices
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1.3 Market Restraints
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1.3.1 Social Stigma Concerns
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1.3.2 Complex Reimbursement Scenario
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1.4 Industry Attractiveness - Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD Million)
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2.1 By Type of Device
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2.1.1 Energy-based Aesthetic Device
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2.1.1.1 Laser-based Aesthetic Device
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2.1.1.2 Radiofrequency (RF) Based Aesthetic Device
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2.1.1.3 Light-based Aesthetic Device
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2.1.1.4 Ultrasound Aesthetic Device
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2.1.2 Non-energy-based Aesthetic Device
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2.1.2.1 Botulinum Toxin
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2.1.2.2 Dermal Fillers and Aesthetic Threads
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2.1.2.3 Microdermabrasion
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2.1.2.4 Implants
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2.1.2.5 Other Aesthetic Devices
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2.2 By Application
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2.2.1 Skin Resurfacing and Tightening
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2.2.2 Body Contouring and Cellulite Reduction
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2.2.3 Hair Removal
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2.2.4 Breast Augmentation
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2.2.5 Other Applications
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2.3 By End-user
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2.3.1 Hospital
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2.3.2 Clinics
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2.3.3 Home Settings
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Argentina Aesthetic Devices Market Size 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.
