Latin America Dermatology Devices Market 2023-2030
MARKET OUTLOOK
As per Triton’s report, the Latin America dermatology devices market is expected to advance with a compound annual growth rate of 12.22% during the forecast period 2023-2030. Mexico, Brazil, and Rest of Latin America are examined in the region’s market.
In Argentina, the mortality rate caused by skin cancer witnessed significant growth in 2020. The rising burden of skin disorders has increased the demand for dermatology treatments, resulting in the high adoption of dermatology diagnostic devices. As per the World Bank, the population 65 years and above accounted for 12% of the total population in 2021. Therefore, the growing skin conditions and rising geriatric population are expected to elevate the demand for dermatology devices for skin tightening and other treatments. Hence, these factors drive the overall market’s growth.
Further, the market’s growth in Mexico is supported by the high demand for grooming solutions. The personal care industry has witnessed substantial growth in recent years. Moreover, the total number of surgical and nonsurgical cosmetic procedures increased, with liposuction and botulinum toxin being the most sought-after treatments. Therefore, the growing focus on aesthetic procedures is estimated to create multiple opportunities for the dermatology devices market during the forecast period.
COMPETITIVE OUTLOOK
Alma Lasers Ltd, Canfield Scientific, Lumenis Ltd, DermLite LLC, and Cutera Inc are among the major companies in the dermatology devices market.
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