Manufacturing of medical devices in Mexico to grow by 44% over 2014-2020
According to a study conducted by INEGI, Global Trade Atlas, and Global Insight, production of medical equipment in Mexico would rise by 44% over 2014-2020. In terms of expenditure on manufacturing, it would rise from USD 14.6 million in 2014 to USD 21.1 million in 2020. There are around 400 companies scattered over Chihuahua, Sonora, Nuevo Leon, Tamaulipas, Mexico City, State of Mexico, Jalisco, and Morelos in Mexico involved in manufacturing of medical devices. Baja California has the highest concentration of companies owing to its geographical position, low labor costs, and logistics. According to KPMG, manufacturing cost of medical devices in Mexico is 18.9% cheaper. Baja California has 69 manufacturing plants, Tijuana has 44, Mexicali has 17, 5 in Tecate and 3 in Ensenada. Smiths, Greatbatch, Lancer Orthodontics, Össur, Teleflex Medical, CareFusion, Coastline International, Encamesa, Augen, Flex, Essilor, Nypro, Carl Zeiss Vision, Medtronic, and DJO Global are the major global medtech players, which manufacture in Baja California.
(Image Courtesy: Altek)