Market Insights Health Medical Technology Medical Devices

General & Plastic Surgery Devices - Mexico

Mexico

The General & Plastic Surgery Devices market market in Mexico is anticipated to achieve a revenue of US$0.47bn in 2024.
By 2029, it is projected to witness a steady annual growth rate (CAGR 2024-2029) of 5.70%, leading to a market volume of US$0.62bn.
It is worth noting that the United States is expected to generate the highest revenue globally, amounting to US$9,844.00m in 2024.
Mexico's increasing demand for General & Plastic Surgery Devices is driven by a growing middle class and a desire for aesthetic enhancements.

Key regions: Europe, Japan, United Kingdom, Netherlands, China

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Analyst Opinion

The General & Plastic Surgery Devices market in Mexico is experiencing steady growth due to increasing customer preferences for cosmetic procedures, advancements in technology, and a growing middle-class population. Customer preferences in Mexico are shifting towards cosmetic procedures, with an increasing number of individuals seeking to enhance their appearance. This trend is driven by factors such as the influence of social media and the desire to conform to beauty standards. As a result, there is a growing demand for General & Plastic Surgery Devices in Mexico. In addition, advancements in technology have made cosmetic procedures more accessible and less invasive. This has led to an increase in the number of people opting for these procedures. The availability of advanced surgical devices and equipment has also contributed to the growth of the market. The growing middle-class population in Mexico is another key factor driving the growth of the General & Plastic Surgery Devices market. As disposable incomes rise, more individuals are able to afford cosmetic procedures. This has created a larger customer base for General & Plastic Surgery Devices in Mexico. The market is also influenced by local special circumstances in Mexico. The country has a strong culture of beauty and physical appearance, which further drives the demand for cosmetic procedures. Additionally, Mexico is a popular destination for medical tourism, with many individuals traveling to the country to undergo cosmetic procedures at a lower cost. This has contributed to the growth of the General & Plastic Surgery Devices market in Mexico. Underlying macroeconomic factors also play a role in the development of the market. Mexico has experienced steady economic growth in recent years, which has increased the purchasing power of consumers. This has allowed more individuals to afford cosmetic procedures and has contributed to the growth of the market. In conclusion, the General & Plastic Surgery Devices market in Mexico is growing due to increasing customer preferences for cosmetic procedures, advancements in technology, a growing middle-class population, local special circumstances, and underlying macroeconomic factors. The market is expected to continue to expand as more individuals seek to enhance their appearance and as technology continues to advance.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.