MEXICO – Overview of medical device industry and healthcare statistics
Below you will find basic demographic and healthcare market data on Mexico, plus specific information about the medical device and healthcare industries.
Overview of medical device industry: Mexico is the second largest medical device market in Latin America, following Brazil. With increasing health expenditure and the acquisition of new technology, Mexico is the leading medical importer in Latin America. It was valued at US$4 billion in 2015 but projected growth is modest; the market will increase to US $5.5 billion by 2020.
Imports make up nearly 90% of the medical devices sold in Mexico. Mexico imports medical devices from all over the world, with the most devices coming from the United States, Asia, and throughout Europe. However, there is a small medical device manufacturing industry concentrated in Baja California, a region that accounts for 36% of medical device exports and is home to more than 60 companies.
Opportunities in the Mexican market: The Mexican medical device market is sophisticated and values innovative, high-quality medical technologies. Advanced yet cost-effective products that deliver strong healthcare outcomes will perform best. Medical devices in the areas of preventative care, diagnostic imaging, dental products, patient aids, orthopedics, and prosthetics are in greatest demand.
Industry challenges in Mexico: Regulatory timeframes are one of the biggest obstacles to entering the Mexican market. Even though COFEPRIS, the regulatory body in Mexico, has several registration routes available, submission process in time consuming and approval can take months, resulting in a backlog of submissions. However, COFEPRIS is working to refine its registration process for medical devices. In addition, importers can expect fierce competition from US manufacturers, which control more than 50% of the Mexican import market.
How Mexico compares to other markets
| MEXICO | BRAZIL | CANADA | |
|---|---|---|---|
| Population | 121,736,809 | 204,259,812 | 35,099,836 |
| Primary language(s) | Spanish | Portuguese | English, French |
| Total healthcare spending | $82 billion | $193 billion | $186 billion |
| Healthcare expenditures total (% of GDP) | 6.3% | 8.3% | 10.4% |
| Healthcare expenditures per capita | $677 (USD) | $947 (USD) | $5292 (USD) |
| Expenditures on healthcare | Government: 52% Private: 48% |
Government: 46% Private: 54% |
Government: 71% Private: 29% |
| Size of medical device market (USD) | $4 billion (USD - 2014) | $4.7 billion (USD – 2015) | $6.2 billion (USD) |
| Number of hospital beds | 1.5 per 1000 people | 2.3 per 1000 people | 2.7 per 1000 people |
| Age distribution | 0-14 years: 28% 15-64 years: 65% 65 years and over: 7% (2015 est.) |
0-14 years: 23% 15-64 years: 69% 65 years and over: 8% (2015 est.) |
0-14 years: 15% 15-64 years: 67% 65 years and over: 18% (2015 est.) |
| Life expectancy at birth | Male: 73 years Female: 79 years |
Male: 70 years Female: 77 years |
Male: 79 years Female: 85 years |
| Currency | Mexican peso | Real | Canadian dollar |
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