Other Medical Devices - Mexico

Mexico

Highlights

The projected revenue in the Other Medical Devices market market in Mexico is estimated to reach US$2.54bn in 2024.
It is expected that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of 4.27%, leading to a market volume of US$3.13bn by 2029.
When compared globally, the United States is anticipated to generate the highest revenue, amounting to US$58.90bn in 2024.
Mexico's market for other medical devices is experiencing a surge in demand due to the country's growing healthcare infrastructure and increasing access to medical services.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other Medical Devices market in Mexico is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trajectory. Customer preferences in the Other Medical Devices market in Mexico are driving the growth and development of the industry. Mexican consumers are increasingly prioritizing their health and well-being, leading to a higher demand for medical devices. Additionally, the aging population in Mexico is fueling the need for medical devices that cater to the specific needs of elderly individuals. This demographic shift is creating opportunities for companies in the Other Medical Devices market to develop innovative products that address the unique challenges faced by older adults. Trends in the market are also contributing to the growth of the Other Medical Devices industry in Mexico. One notable trend is the increasing adoption of advanced technologies in medical devices. Mexican healthcare providers are recognizing the benefits of using cutting-edge technologies to improve patient outcomes and enhance the efficiency of healthcare delivery. This trend is driving the demand for advanced medical devices, such as remote monitoring systems, wearable devices, and telemedicine solutions. Another trend in the market is the growing focus on preventative healthcare. Mexican consumers are becoming more proactive in managing their health and are seeking out devices that can help them monitor and track their vital signs and overall well-being. This trend is driving the demand for devices such as blood pressure monitors, glucose meters, and fitness trackers. Local special circumstances also play a role in the development of the Other Medical Devices market in Mexico. The Mexican government has been actively investing in healthcare infrastructure and promoting the use of medical devices to improve healthcare outcomes. This support from the government is creating a favorable environment for companies operating in the Other Medical Devices market. Additionally, Mexico's proximity to the United States, a global leader in medical device innovation, allows for easy access to advanced technologies and expertise, further driving the growth of the market. Underlying macroeconomic factors also contribute to the growth and development of the Other Medical Devices market in Mexico. The country's stable economic growth and rising disposable incomes are enabling more individuals to afford medical devices. Furthermore, the increasing prevalence of chronic diseases, such as diabetes and cardiovascular conditions, is driving the demand for medical devices that can help manage these conditions. In conclusion, the Other Medical Devices market in Mexico is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing focus on health and well-being, adoption of advanced technologies, and government support are all contributing to the positive trajectory of the market. As Mexico's healthcare infrastructure continues to improve and the population ages, the demand for medical devices is expected to further increase, presenting opportunities for companies in the industry.

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.