Mexican MedTech Market, Forecast to 2028

Nearshoring and Domestic Manufacturing to Drive Future Growth Potential

The report analyzes the Mexican MedTech market, including a forecast analysis on key market segments, such as cardiovascular devices, drug delivery devices, hospital supplies, patient monitoring devices, urology-gynecology devices, and robotics.

The Mexican MedTech market grew steadily in 2023, mainly because of an increasing aging population and the strong nearshoring of medical device manufacturing activities, with multiple companies investing in manufacturing facilities in Mexico. Many major medical device companies’ manufacturing facilities were already present in the country. Furthermore, new companies started investing in Mexico because of its proximity to the United States and supportive government policies. Healthcare stakeholders will continue to incorporate digital health solutions in Mexico. Technologies such as robotics, wearables, mobile health applications, 3D printing, augmented and virtual reality, telemedicine, and electronic health records will be at the forefront in driving growth.

Risks such as regulatory delays, lack of infrastructure investments, current infrastructure deficiencies, concerns related to corruption and fraud, and perceptions of insecurity will pose key challenges to growth.