Mexico may become the seventh largest world exporter of syringes, needles and catheters
According to statistics available from the Mexican Association of Innovative Medical Device Industries (AMID), with exports of around MXN 7.699 billion annually, Mexico is currently the ninth largest exporter and first in Latin America. Based on the geographical advantages, trade agreements, attractiveness of the domestic market in the future and access opportunities for popular insurance, Mexico has the potential to become the exporting country number seven worldwide by the end of 2020, when domestic production of devices may reach a value of MXN 19 billion. Consulting firm KPMG’s data states that medical device manufacturing in Mexico, including healing materials to highly specialized equipment for detection of disease, is 18.9% cheaper than in the United States. The main destinations of Mexican exports are the United States, with a share of 92.2%; Ireland, with 2.2%; and France with 1.6%, which mainly require syringes, needles, catheters and bandages, representing 35.6% of all Mexican exports. The second most exported category corresponded to therapeutic applications and portable implants, with 9.4%; followed by the diagnostic imaging equipment, with 7.7%; prostheses and orthopedic, with 5.8%; and dental products, with 2.3%. The remaining 39.2% were exports of other devices.
(Image Courtesy: GHEG)