Mexican medical devices market would reach USD 6.5 billion by 2020
According to a market research report published by Global Data, the Mexican medical devices market is estimated to grow from USD 4.9 billion to USD 6.5 billion over 2015-2020. A large part of the market is dependent on imports. The US is the major supplier of medical devices to Mexico, followed by Brazil, China, Canada, France, and Germany. Domestic medical technology companies rely heavily on imports and tend to disburse less on research and development. The key factors driving the market growth include Mexico’s increase in healthcare demand include the government’s aim to provide universal healthcare coverage; free trade agreements signed by government authorities; and rising medical tourism. The major medical device players operating in the country include Fresenius, Roche, DePuy, Medtronic, Siemens Healthcare, Baxter, Gambro, and GE Healthcare.