South & Central America Dermatology Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product Type (Treatment Device and Diagnostic Device), Application (Skin Care Diagnosis, Skin Rejuvenation, Hair Removal, Body Contouring & Skin

South & Central America Dermatology Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product Type (Treatment Device and Diagnostic Device), Application (Skin Care Diagnosis, Skin Rejuvenation, Hair Removal, Body Contouring & Skin Tightening, Psoriasis, and Others), and End User (Hospitals, Dermatology Clinics, and Others)

The South & Central America dermatology devices market is expected to grow from US$ 298.16 million in 2022 to US$ 522.24 million by 2028; it is estimated to grow at a CAGR of 9.8% from 2022 to 2028.

Rising Popularity of Skin Rejuvenation and Resurfacing

Skin irregularities caused due to unprotected exposure to ultraviolet (UV) rays, skin disorders, aging, and hereditary issues can consist of textural irregularities, such as wrinkles and acne scars, and pigmentation changes, including freckles, sunspots, and visible blood vessels. Additionally, irregularities may cause the loss of tone and healthy glow in younger skin. Also, the skin feels less firm. To overcome skin irregularities and treat several aspects of skin damage, different treatment modalities are available in the market. A few treatment modalities include laser treatment for skin resurfacing, mechanical resurfacing, chemical peels, and injectable products that can improve the appearance of fine lines and wrinkles of the entire face or those developing in a specific area of the face, such as upper lip and around the eyes. Moreover, advanced treatment modalities can also be used to treat pigmentation disorders, such as sun and age spots and acne scars. For example, laser resurfacing is a facial rejuvenation procedure that allows lasers to improve the skin's appearance or treat minor facial flaws. The procedure comprises two types—ablative lasers and nonablative laser or light source. Ablative laser removes the thin outer layer of skin (epidermis) and heats the underlying skin (dermis), stimulating collagen growth. Types of ablative therapy involve a CO2 laser, an erbium laser, and combination systems. Additionally, a nonablative laser is a less aggressive technique than an ablative laser and requires a shorter recovery time. Therefore, skin rejuvenation and resurfacing are expected to fuel the growth of the South & Central America dermatology devices market during the forecast period.

Market Overview

A few key factors driving the South & Central America dermatology devices market include the rising prevalence of skin conditions and melanoma and increasing demand for cosmetic procedures. Brazil has the sixth-largest GDP in the world and also the fourth-highest population among the major countries listed, and a fairly high growth rate suggesting a huge market potential for dermatology devices. Major countries contributing to the market's growth include Chile, Colombia, Peru, Cuba, Venezuela, and Bolivia. The countries offer significant growth opportunities for the growth of the market. Countries are improving their health infrastructures by allowing new entrants to enter the business. Therefore, it is expected that the demand for medical aesthetics will increase. In addition, countries in the region are investing and interested in improving their health care and focusing on primary and advanced care. Therefore, these countries' health facilities are expected to increase.

Further, the prevalence of skin cancer is also increasing in these countries, boosting the demand for diagnostic dermatology devices. Peru ranks first in the world experiencing ultraviolet radiation, where skin cancer incidences are increasing rapidly. According to World Health, in 2020, skin cancer deaths in Peru reached 786 or 0.64% of total deaths. Several campaigns have also been launched to enhance awareness among individuals, boosting the demand for dermatology diagnostic devices.

Laser dermatology surgeries are also prominent in Peru. Several international companies offer their dermatology laser devices in Peru, including LasMedTech, Lutronic Vision, Azena Medical, Convergent Laser Technologies, The Skin Lab, Wuhan Dimed Laser Technology, EDAP TMS, Amico Group, and several others. These factors are driving South & Central America dermatology devices market during the forecast period.

South & Central America Dermatology Devices Market Revenue and Forecast to 2028 (US$ Million)

South & Central America Dermatology Devices Market Segmentation

The South & Central America dermatology devices market is segmented on the basis of product type, application, end user, and country. Based on product type, the South & Central America dermatology devices market is bifurcated into treatment device and diagnostic device. The treatment device segment held a larger share of the market in 2022.

Based on application, the South & Central America dermatology devices market is segmented into skin cancer diagnosis, skin rejuvenation, hair removal, body contouring & skin tightening, psoriasis, and others. The skin cancer diagnosis segment held the largest share of the market in 2022.

Based on end user, the South & Central America dermatology devices market is segmented into hospitals, dermatology clinics, and others. The hospitals segment held the largest share of the market in 2022.

Based on country, the South & Central America dermatology devices market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the market in 2022.

Alma Lasers, Candela Corporation, Cutera Inc., El.En. S.p.A., and FotoFinder Systems GmbH are the leading companies operating in the South & Central America dermatology devices market.

Reasons to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the South & Central America dermatology devices market
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the South & Central America dermatology devices market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the dermatology devices market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution