Research And Markets Research And Markets

The Medical Device Market: Mexico

  • ID: 3224308
  • May 2015
  • Region: Mexico
  • 180 Pages
  • Espicom Business Intelligence Ltd
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We forecast a high 2013-2018 CAGR of 13.4 % in US dollar terms, taking the medical device market to USD 6.9 bn. Mexico will remain the second largest market in Latin America. I mports remain high but represent half the value of exports, as the country operates intensive maquiladora activities directed to the USA, Mexico's leading trade and investment partner. Mexico has strengthened its regulatory environment in recent years, but its power in Latin America is restricted by Brazil.

Headline Industry Forecasts:

We forecast that the medical device market will achieve a 2013-2018 CAGR of 13.4% in US dollar terms and 11.5% in local terms. This will take the market from an estimated USD3.7bn in 2013 to USD6.9bn in 2018, putting Mexico within the top fastest growing markets in the world. Mexico will remain the second largest market in Latin America.

Mexico will remain the top medical device importer in Latin America in 2015, ahead of Brazil. We believe that import growth will remain high in US dollar terms in 2015, as a significantly stronger consumer offsets the negative impact of a weaker exchange rate. The USA will remain the leading supplier. In US dollar terms, imports grew by 9.7% in 2014, reaching USD3.7bn, while imports recorded a 2008-2013 CAGR of 6.9%.

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1. Industry View


3. Industry Forecasts

4. Macroeconomic Forecasts

5. Industry Risk Reward Index

6. Market Overview

7. Industry Trends & Developments

8. Regulatory Developments

9. Competitive Landscape

10. Methodology

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Overview Of The Medical Market In Mexico

Mexico has the second largest medical device market in the Latin American region, valued at US$4.0 billion in 2013. The market is dominated by medical device imports, principally from the USA. US manufacturers benefit from geographic proximity and preferential terms under NAFTA. Some of these imports, however, are used to produce goods which are eventually sent back to the USA. Mexico is the third largest medical device importer in the Americas region, behind the USA and Canada; Brazil is not a big importer in comparison, as it relies on local production.

Political stability, economic growth, high demographics, chronic disease incidence, increasing health expenditure and new technology acquisition, particularly of diagnostic imaging and orthopaedic & prosthetic products in the public sector, are factors contributing to the medical device market growth. However, the weakening value of the Mexican peso against the US dollar has limited market growth in US dollars. The improved economic outlook has boosted growth prospects in the 2013-18 period. Future growth will depend in part on growth within the US economy, which remains the country's main trade and
investment partner.

Exports of medical equipment and supplies were valued at US$6.4 billion in 2012, of which 91.1% was shipped across to the USA. The USA has been a favoured destination for Mexican exports and is still the chief destination for most medical devices, but President Obama has sought closer ties with Asia, in particular China. Some Mexican export sectors have been overtaken by China and maquiladora activity moved there, in spite of Mexico's geographical proximity and low operation costs. Mexico needs to develop its economy outside of the maquiladora programme for increased stability.

Strategic Market Analysis:

The highly-regarded world medical technology and device market research reports provide enhanced strategic intelligence in a user-friendly format. Each report provides in-depth information, setting the medical equipment market in context. The reports provide:

- Unique projected estimates of market size and growth for 33 equipment categories
- Five year statistical data for key economic and healthcare indicators
- Information on regulation, distribution and market access
- Detailed Medical trade data
- Data on leading local/multinational medical equipment players in the market

With This Market Report You Can:

- Evaluate the potential of the market
- Assess risks and opportunities on the basis of knowledge
- Profile the market for new product, licences or collaborations
- Understand the operating and regulatory environment
- Gain a complete picture on health expenditure and infrastructure
- Review the competitive environment

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