BMI View: Mexico will remain the second largest Latin American market , recording moderate growth in US dollar terms in 2016 . I mports will remain high but still represent half the value of exports, due to intensive maquiladora activities directed to the USA, Mexico's leadin g trade partner. Market competition will drive prices down and increase access to the latest medical devices.
|Total (USDmn)||Per Capita (USD)||Total (Local Currency mn)||Per Capita (Local Currency)||Exchange Rate (Local Currency/USD)|
Latest Updates and Key Forecasts
We forecast that the market will record a 2014-2019 CAGR of 6.3% in US dollar terms, down from a 2009-2014 CAGR of 8.9%, reaching USD5.5bn. The moderate dollar growth rate reflects a depreciating MXN between June 2014 and June 2015, counterbalanced by a gradual appreciatory trend of the MXN over the coming years, although highly vulnerable to bouts of market volatility.
Import growth will remain moderate in US dollar terms, affected by currency rate fluctuations. The latest monthly trade data show that import growth slowed down to 4.8% in the three months to August 2015, taking the value to USD1.0bn. Imports recorded a higher growth of 7.6% to USD3.9bn in the 12-month period to August 2015.
Mexico will record strong export growth in the coming years, almost entirely driven by a more stable US economy, a strong dollar and US manufacturers' 'maquiladora' activities. The latest monthly trade data show that exports rose by 9.7% to USD2.2bn in the three months to August 2015. Exports recorded a higher growth of 11.0% to USD8.3bn in the 12 months to August 2015.
Mexico signed the Trans-Pacific Partnership (TPP) with 11 countries in October 2015, which still requires ratification from each signatory country. The Treaty will reduce medical device trade barriers for Mexico to penetrate Asia, but opportunities will be conditioned by strong bidirectional trade flows between Mexico and the USA, and the power of other Asian manufacturing powerhouses.
The Mexico Medical Devices Report features market forecasts supported by trade, production and healthcare estimates by Espicom, a BMI Research's company. These forecasts and estimates focus on six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices.
Detailed product breakdown for market, trade and production data in Mexico provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Mexico Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Mexico, to test analysis as it is a key input for budgeting and strategic business planning. Use our standardised data to gain a better understanding of market performance in Mexico.
- Target Business Opportunities in the Mexico Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Mexico.
- Assess the activities and market position of your competitors via our assessments of domestic production, national and multinational manufacturers, along with the trade and distribution outlets of multinationals, key company developments and future growth prospects.
BMI Industry View
Provides industry, political and economic views. Briefly analyses the medical devices market, taking into account the latest industry forecasts, healthcare indicators and industry trends & developments.
SWOT analyses of the medical devices market, the political environment, the economic landscape and the business environment.
Evaluates and analyses the medical devices market in terms of historical and forecast trends, covering six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices. Additionally, presents annual and monthly import and export trade data.
Presents macroeconomic forecasts impacting the medical devices market.
Industry Risk Reward Index
Risk Reward Indices tool, which provides a globally comparative and numerically based assessment of the medical devices market’s attractiveness.
Assesses the medical devices market in the current year. Additionally, covers healthcare trends shaping the market, focusing on health status, healthcare system, healthcare funding, healthcare resources, healthcare activity and healthcare personnel. Includes historical healthcare data.
Industry Trends & Developments
Analyses the latest industry trends and developments shaping the market, in terms of monthly trade performance, forecast trends, production changes, regulatory developments, competitive strategies, political events and economic performance.
A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
Values historical medical devices production, and analyses the presence of national and multinational manufacturers operating in the market. Also, compares the presence of leading multinational company operations, either via sales & marketing, distribution or manufacture. Finally, takes into account market access drivers, including major distribution channels, trade associations and trade shows.
Carefully explains the medical devices market methodology, trade classifications, Risk Reward Index methodology and sources used in the medical devices market Report.