Mexico Aesthetic Devices Market - Growth, Trends, and Forecasts (2020 - 2025)

The Mexican aesthetic devices market is anticipated to record a CAGR of 8.33%, during the forecast period. The major factors attributing to the growth of the Mexican aesthetic devices market are increasing obese population, increasing awareness regarding aesthetic procedures, rising adoption of minimally invasive devices, and technological advancement in devices. The growing aesthetic consciousness among people, especially the elderly population, is creating the 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 some of the opportunities for market players. Mexico, being a member of the North America Free Trade Association (NAFTA), has a friendlier regulatory climate, without import duties (for American and Canadian companies). The other factor helping the growth of the aesthetic devices market is the increase in the number of cosmetic surgeries performed annually. Even though the rate of increase is not high in the country, the fact still remains that people are getting more concerned with their appearance, especially with the increasing standard of living, which may boost market growth during the forecast period.

Key Market Trends

Hair Removal Segment is Expected to Hold Significant Market Share in the Mexican Aesthetic Devices Application Segment

Getting rid of unnecessary body hair is one of those challenges that everyone has faced in their lives at some point. These people have been turning to several hair removal methods for more than two decades to help them overcome this common problem that nearly everyone faces. Since the development of energy-based devices and laser light for the removal of unwanted hair, aesthetic clinicians and plastic surgeons have been able to offer patients withstanding the test of time effective treatments. So, owing to these factors, the demand for these devices is increasing, which is boosting the market growth.

Competitive Landscape

The Mexican aesthetic devices market is competitive and consists of several players. In terms of market share, few of the major players are currently dominating the market and some prominent players are vigorously making acquisitions and joint ventures with the other companies to consolidate their market positions in the country. Some of the companies which are currently dominating the market are Allergan Inc., Lumenis Inc., Johnson & Johnson, Alma Lasers, and Galderma Pharmaceuticals.

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