Mexico's $1.9 billion Medical Device Market
BY LAUREN UZDIENSKI, JANUARY 18, 2007
Research and Markets has released a new report on the medical device industry in Mexico. In their press release, Research and Markets cited Mexico's population of 100 million, earning their place as the second-largest device market in the Americas (the largest is Brazil.)
In 2006, the market was $1.9 billion, on par with Australia or Korea, though with a much lower per capita spending of about $18. Mexico's healthcare system is complex and uneven, with several government and public institutions responsible for care and poorer areas reporting spotty access to care; a long-term World Bank initiative is in place to correct some of the deficiencies.
About 70% of Mexico's medical devices are imported from the U.S. The market size represents a strong opportunity for U.S. devicemakers, one that is augmented by geographic proximity and favorable NAFTA terms.
