Market Trends of Argentina Aesthetic Devices Industry
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.
