Mexican market – Veraque https://veraqueconsulting.cn 我们满足您的需求 Tue, 06 Oct 2020 02:08:33 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.1 https://veraqueconsulting.cn/wp-content/uploads/2019/11/cropped-logo-32x32.png Mexican market – Veraque https://veraqueconsulting.cn 32 32 The Mexican Medical Device Market in 2020 https://veraqueconsulting.cn/2020/10/06/the-mexican-medical-device-market-in-2020/ https://veraqueconsulting.cn/2020/10/06/the-mexican-medical-device-market-in-2020/#respond Tue, 06 Oct 2020 01:54:14 +0000 https://veraqueconsulting.cn/?p=883 Against any projection, 2020 has represented a challenge for any type of industry. The medical device was not the exception. Even though several statistics has been reported, we could not find resources about the Mexican medical device market for this year. And many questions arises among this turmoil. Therefore, we considered that making a research […]

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]]> Against any projection, 2020 has represented a challenge for any type of industry. The medical device was not the exception.

Even though several statistics has been reported, we could not find resources about the Mexican medical device market for this year. And many questions arises among this turmoil. Therefore, we considered that making a research from different public data bases, central banks mainly, would provide some light for fair conclusions.

In this article we present a brief summary of this work. Specifically, the importation/exportation value in Mexico compared to other countries. We also add some facts about the healthcare system and the local market. This will help you to get a better picture of what it is still considered the second largest market in Latin America.

 

The Mexican Market

 

After reviewing the Mexican central bank data bases and matching them with the UN’s, we found that Mexico is in the 9th place in terms of medical device importations (as referred in the table below) and the 4th place in exportations*

 

Position Country
1 USA
2 Germany
3 Netherlands
4 Japan
5 Belgium
6 France
7 United Kingdom
8 Italy
9 Mexico
10 Canada
11 Spain
12 Australia
13 Switzerland
14 Rep. of Korea
15 Singapore
16 Russian Federation
17 India
18 Ireland
19 Brazil
20 Austria

 

*Notes:

The information is obtained based on the most representative tariff codes related to medical devices.

Data up to July 2020.

China is not considered. But it is inferred within the first 5 countries based on other reports from previous years.

 

 

The Local Medical Device Sector

 

There are approximately 170 Medical Device manufacturers and nearly 2000 distributors located in Mexico**. The major cities concentrating them are in Mexico City, Monterrey, and Guadalajara.

 

** Data from COFEPRIS public data bases.

 

Changes in the industry

 

Recent changes in the Mexican healthcare system has taken place in 2020. Some points to consider:

 

  • The public healthcare system plans to make a mega purchase via the UN.
  • The regulatory agency (COFEPRIS) changed its legal structure.

 

 

Conclusions

 

Mexico remains in the top 10 countries in the Medical Device Industry for importations and exportations. On the other hand, even though the local regulation has changed, it is not closing the market to new players. In fact, they have open alternatives to attract manufacturers with lower prices –a trend for which Mexico is not the exception in the world.

 

 

We trust you have found this article useful. If you need more information, please send us an email to contact@veraqueconsulting.com

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