Mexico Therapeutic Device Market Overview, 2028

Mexico Therapeutic Device Market Overview, 2028

A growing market for therapeutic devices is part of Mexico's healthcare sector. Mexico's therapeutic device market is rapidly becoming a key component of the nation's healthcare ecosystem, driven by the confluence of technological breakthroughs, expanding healthcare infrastructure, and a growing emphasis on innovative healthcare solutions. In terms of technological advancement, the market for therapeutic devices in Mexico is leading the way. Modern therapeutic devices that address a wide range of medical requirements and ailments are being introduced into the nation, which is undergoing a transitional period marked by an emphasis on innovation and a growing entrepreneurial spirit. Mexico is one of the major player in the production of therapeutic and other medical equipment. The nation's ability to produce a wide range of therapeutic devices, along with medical gadgets, has increased significantly due to its cost-effectiveness, proximity to the U.S. market, and competent labour. In order to align Mexico's medical device regulations with worldwide norms, considerable adjustments have been made, especially those pertaining to therapeutic devices. Innovative devices are encouraged to enter the market and receive funding thanks to this simplified regulatory framework. Mexico is becoming a more popular destination for medical tourism, which is increasing demand for modern treatment gadgets and high-quality healthcare services. Patients looking for specialised treatments and procedures are drawn to the accessibility of high-quality healthcare services. The adoption of telemedicine and digital health technologies is growing in Mexico. This shift towards remote healthcare delivery drives the demand for telehealth-compatible therapeutic devices, promoting accessibility and patient engagement.

According to the research report ""Mexico Therapeutic Device Market Overview, 2028,"" published by Bonafide Research, the Mexico Therapeutic Device market is expected to grow with more than 7% CAGR from 2023 to 2028. Mexico is a significant supplier of medical goods, including therapeutic devices, worldwide. The nation's strategically important economic ties, especially with markets in North America, greatly support its export-focused medical device sector. Mexico continues to have a significant need for respiratory therapy equipment such as inhalers, nebulizers, and oxygen concentrators due to the high prevalence of respiratory conditions such as asthma and chronic obstructive pulmonary disease (COPD). Due to Mexico's heterogeneous population, which includes people from different socioeconomic and ethnic origins, a wide range of treatment devices are required to meet the needs of varied patient populations and healthcare needs. In the production of devices, sustainability is becoming more and more important. Using sustainable production techniques and eco-friendly materials helps reduce environmental effects while also catering to customer tastes and global trends. Mexico stands to gain from the creation of affordable medical gadgets that are appropriate for developing markets, but it also presents the nation as a possible exporter to other areas dealing with comparable healthcare issues. Adoption of remote monitoring devices is made possible by advancements in digital infrastructure and connection, which also improve access to healthcare and allow patients in remote places to take advantage of telehealth and therapeutic equipment. An important factor in increasing access to therapeutic devices and consequently enhancing overall healthcare results is the government's subsidisation of healthcare and medical equipment, especially for disadvantaged communities. There is a growing need for therapeutic equipment that is compatible with remote consultations due to the expansion of telehealth efforts in Mexico. The adoption of devices that enable digital consultations, remote monitoring, and telemedicine are on the rise.

Based on product segment market includes insulin delivery devices, dialysis equipments, IV equipments, wound care management, and others (ventilators, sleep apnea therapeutic device, respiratory care, hearing aids). IV equipment product type is predicted to grow at significant rate in Mexico therapeutic device market. Medical procedures and hospital admissions are rising in Mexico's healthcare system. IV equipment is necessary for many medical procedures, surgeries, and emergency care situations because it allows fluids, drugs, and nutrients to be delivered straight into the bloodstream. A favourable environment for the adoption of cutting-edge IV equipment is created by Mexico's investments in healthcare infrastructure, which include the modernization and development of hospitals and other healthcare institutions. Modern IV delivery systems are frequently included as a top priority in renovated institutions. In Mexico, home-based infusion therapy and ambulatory care are becoming more and more popular. Demand for IV supplies such as infusion pumps and accessories that guarantee precise and safe drug delivery in outpatient or home care settings is rising. Equipment used in intravenous therapy is essential for patient safety and infection control. Modern IV equipment that reduces contamination hazards and improves patient outcomes is essential, given the focus on lowering hospital-acquired infection rates. The healthcare industry in Mexico is progressively incorporating new technologies. IV technology finds popularity in the market when it provides data-driven insights, permits remote monitoring, and connects easily with digital health systems.

The indication segment of the market is bifurcated into wound care, diabetes, respiratory diseases, cardiovascular disorders & hypertension, cancer, pregnancy, hearing disorders, movement disorders and other indications (sleep disorders, kidney disorders, neurovascular diseases, and HIV). Respiratory disease is creating significant demand for therapeutic device in Mexico. Asthma, respiratory infections, and chronic obstructive pulmonary disease (COPD) are among the respiratory conditions that are most prevalent in Mexico. The need for therapeutic devices that manage and relieve respiratory symptoms is driven by the prevalence of these disorders. In certain areas, indoor air pollution and high smoking rates are contributing factors to respiratory health issues. Inhalers, nebulizers, and oxygen treatment equipment are examples of therapeutic devices that are crucial to the management of various illnesses. In Mexico, asthma and allergy disorders are common and more adult and paediatric cases are being documented. As a result, there is a significant need for inhalers, nebulizers, and other respiratory equipment to treat these illnesses.

Considered in this report:
• Geography: Mexico
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• Mexico Therapeutic Device market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product:
• Insulin Delivery Devices
• Dialysis Equipments
• IV Equipments
• Wound Care Management
• Others (ventilators, sleep apnea therapeutic device, respiratory care, hearing aids)

By End User:
• Hospitals and Clinics
• Home Care Settings
• Ambulatory Care Centers (ACCs)
• Other End User

By Indication:
• Wound Care
• Diabetes
• Respiratory Diseases
• Cardiovascular Disorders & Hypertension
• Cancer
• Pregnancy
• Hearing Disorders
• Movement Disorders
• Other Indications (sleep disorders, kidney disorders, neurovascular diseases, and HIV)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Therapeutic Device industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.