Mexico Aesthetic Devices Market Size (2024 - 2029)

The Mexico aesthetic devices market is projected to experience substantial growth, driven by factors such as an increasing obese population, heightened awareness of aesthetic procedures, and a rising adoption of minimally invasive surgeries. The market's expansion is further supported by growing aesthetic consciousness, particularly among the elderly, and an increase in disposable income. Despite these positive trends, challenges such as the high cost of procedures and limited reimbursement options may hinder the market's growth trajectory.

Market Size of Mexico Aesthetic Devices Industry

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Mexico Aesthetic Devices Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 8.33 %

Major Players

Mexico Aesthetic Devices Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Mexico Aesthetic Devices Market Analysis

Mexico's Aesthetic Devices Market is anticipated to record a CAGR of 8.33% during the forecast period.

Mexico's aesthetic devices market witnessed enormous challenges as a result of the COVID-19 pandemic. For instance, an article published in the journal of Correspondence and Communications in March 2021 reported that from March 23rd, 2020, to June 28th, 2020, at a healthcare center in Mexico City, 393 cases of aesthetic surgery procedures were performed. Compared to the previous year, a 64.2% reduction in aesthetic surgical procedures was observed in the healthcare center. Thus, the COVID-19 pandemic impacted the growth of Mexico's aesthetic devices market. However, in the current scenario, with the reduction of COVID-19 cases and the resumption of suspended non-emergency procedures, the studied market is expected to witness significant growth over the forecast period.

The major factors attributing to the growth of Mexico's aesthetic devices market are the increasingly obese population and awareness regarding aesthetic procedures, and the rising adoption of minimally invasive surgeries (MIS). According to the World Obesity Atlas 2022, published by the Global Obesity Observatory, reported that about 21 million women and 15 million men in Mexico are expected to have a BMI of more than 30 kg/m2 by the end of 2030. A BMI over 30 kg/m2 is an indication of obesity, which may increase the demand for liposuction aesthetic procedures, thereby driving the growth of the studied market in Mexico.

The increasing adoption of MIS surgical procedures is also driving the growth of the studied market in the country. For instance, in July 2022, Oasis of Hope Bariatrics Tijuana, Mexico, reported that minimally-invasive techniques and advanced technology have been helping patients lose excess body fat for over three decades. Thus, more patients are undergoing this procedure. Therefore, due to the success of MIS procedures over traditional procedures, the market is expected to witness significant growth over the forecast period.

The growing aesthetic consciousness among people, especially the elderly population, is creating a demand for various devices being utilized in aesthetic procedures. The increasing trend of fashion and growing consciousness of self-beauty and personal care, and the increase in disposable income are contributing to the growth of the studied market. For instance, an article published by NCBI in August 2021 reported an increase in mastopexy procedures in Mexican hospitals. The article indicated that mastopexy procedures were versatile and were becoming very common in women above 40 years in the Mexican country. The growing aesthetic consciousness among people, especially the elderly population likely to add to the market growth during the forecast period.

Thus, due to the increasingly obese population, increasing awareness regarding aesthetic procedures, and rising adoption of MIS, the market is expected to witness significant growth over the forecast period. However, the high cost of aesthetic procedures and poor reimbursement scenarios in the country is expected to slow down the market growth over the forecast period.

Mexico Aesthetic Devices Industry Segmentation

As per the scope of this report, aesthetic devices refer to all medical devices that are used for various cosmetic procedures, which include plastic surgery, unwanted hair removal, excess fat removal, anti-aging, aesthetic implants, and skin tightening that are used for beautification, correction, and improvement of the body.

Mexico's Aesthetic Devices Market is segmented by Type of Devices (Energy-Based Aesthetic Devices (Laser-based Aesthetic Devices, Radiofrequency (RF) Based Aesthetic Device, Light-based Aesthetic Device and Ultrasound Aesthetic Devices), Non-Energy-Based Aesthetic Devices (Botulinum Toxin, Dermal Fillers and Aesthetic Threads, Chemical Peels, Microdermabrasion and Implants), and Other Aesthetic Devices), Application (Skin Resurfacing and Tightening, Body Contouring and Cellulite Reduction, Hair Removal, Tattoo Removal, Breast Augmentation, and Other Applications), and End User (Hospitals, Clinics, and Other End Users). The report offers the value (in USD) for the above segments.

By Type of Devices
Energy-based Aesthetic Device
Laser-based Aesthetic Device
Radiofrequency (RF) Based Aesthetic Device
Light-based Aesthetic Device
Ultrasound Aesthetic Device
Non-energy-based Aesthetic Device
Botulinum Toxin
Dermal Fillers and Aesthetic Threads
Chemical Peels
Microdermabrasion
Implants
Other Aesthetic Devices
By Application
Skin Resurfacing and Tightening
Body Contouring and Cellulite Reduction
Hair Removal
Tattoo Removal
Breast Augmentation
Other Applications
By End User
Hospitals
Clinics
Other End Users
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Mexico Aesthetic Devices Market Size Summary

The Mexican aesthetic devices market is poised for substantial growth, driven by factors such as an increasing obese population, heightened awareness of aesthetic procedures, and the rising adoption of minimally invasive surgeries. The market experienced significant challenges during the COVID-19 pandemic, which led to a notable decline in aesthetic surgical procedures. However, with the easing of pandemic-related restrictions and the resumption of non-emergency procedures, the market is expected to recover and expand. The growing aesthetic consciousness, particularly among the elderly, coupled with rising disposable incomes and fashion trends, is further propelling the demand for aesthetic devices. Despite these positive trends, challenges such as the high cost of procedures and limited reimbursement options may temper market growth.

The demand for specific aesthetic procedures, such as botulinum toxin treatments and breast augmentation, is contributing to the market's expansion. The increasing popularity of botox for both cosmetic and medical applications is boosting its segment, while breast augmentation is seeing growth due to young women's desire to enhance their aesthetic appeal and the rising prevalence of breast cancer. The market is characterized by a few dominant players, with companies like Abbvie, Johnson & Johnson, and Galderma leading the way. These companies are actively engaging in acquisitions and partnerships to strengthen their market positions. Overall, the Mexican aesthetic devices market is set to experience significant growth, supported by technological advancements and a growing consumer base seeking aesthetic enhancements.

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Mexico Aesthetic Devices Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Awareness Regarding Aesthetic Procedures and Obese Population

      2. 1.2.2 Rise in Demand for Minimally Invasive or Non-Invasive Aesthetic Procedures

    3. 1.3 Market Restraints

      1. 1.3.1 High Cost of Aesthetic Procedures and Poor Reimbursement Scenario

    4. 1.4 Porter Five Forces

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - in USD )

    1. 2.1 By Type of Devices

      1. 2.1.1 Energy-based Aesthetic Device

        1. 2.1.1.1 Laser-based Aesthetic Device

        2. 2.1.1.2 Radiofrequency (RF) Based Aesthetic Device

        3. 2.1.1.3 Light-based Aesthetic Device

        4. 2.1.1.4 Ultrasound Aesthetic Device

      2. 2.1.2 Non-energy-based Aesthetic Device

        1. 2.1.2.1 Botulinum Toxin

        2. 2.1.2.2 Dermal Fillers and Aesthetic Threads

        3. 2.1.2.3 Chemical Peels

        4. 2.1.2.4 Microdermabrasion

        5. 2.1.2.5 Implants

      3. 2.1.3 Other Aesthetic Devices

    2. 2.2 By Application

      1. 2.2.1 Skin Resurfacing and Tightening

      2. 2.2.2 Body Contouring and Cellulite Reduction

      3. 2.2.3 Hair Removal

      4. 2.2.4 Tattoo Removal

      5. 2.2.5 Breast Augmentation

      6. 2.2.6 Other Applications

    3. 2.3 By End User

      1. 2.3.1 Hospitals

      2. 2.3.2 Clinics

      3. 2.3.3 Other End Users

Mexico Aesthetic Devices Market Size FAQs

The Mexico Aesthetic Devices Market is projected to register a CAGR of 8.33% during the forecast period (2024-2029)

Abbvie (Allergan Inc.), Bausch Health Companies (Solta Medical), Johnson & Johnson Inc., Galderma SA and Hologic Inc. are the major companies operating in the Mexico Aesthetic Devices Market.

Mexico Aesthetic Device Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)