market-entry-home-health-diabetes-care-devices-market-in-mexico
Published

DEC 2017

Market Entry - Home Health Diabetes Care Devices Market in Mexico: Analysis of Growth, Trends and Progress (2016 - 2021)

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About the Market

The diabetes care devices market is driven by increasing prevalence of diabetes, technological advancements, rise in obese population and rising need for faster and safer diagnosis; leading to huge investments by market leaders and new companies foraying into this market. North America held the largest share in the global diabetes care products market, followed by Europe and Asia-Pacific. The Asia-Pacific region provides significant opportunities, with China and India being the most populous countries and home to 40-45% of the global diabetic population. Thereby, contributing to the demand for diabetes care devices like blood glucose monitoring devices and insulin delivery devices. As a result, many players in the market are focusing on strengthening their position in this region. Roche, Johnson & Johnson, Bayer AG, and Abbott Laboratories are few key players in the market.

About the Geography

Mexico, a USD two trillion economy (15th largest in the world), is one of the emerging countries most open to FDI. Mexico’s current government, led by President Enrique Pena Nieto emphasized on financial reforms with a long-term aim to improve competitiveness and economic growth. However, mounting organized crime, corruption and administrative inefficiency are hampering development.

The Mexican government has taken on large-scale economic reforms that aim to help ensure the safety of investment operations. In 2000, Mexico signed a free trade agreement called the ‘Global Agreement’, which focuses on commercial liberalization, political dialogue, and cooperation with the EU. Since the NAFTA came into force 22 years ago, Mexico has served as a low manufacturing cost base with direct, duty-free access to the United States. In 2014, the government came up with a national infrastructure plan to improve infrastructure for future operations. SEZs were also created to provide various incentives, trade facilities, duty-free customs benefits and easier regulatory processes.

Despite liberal government policies, there are some unique challenges like comparatively high-interest-rate for a country with a growing banking sector. Mexico’s economic stability is directly tied to the well-being of the US economy. Some sectors are reserved exclusively for Mexican nationals or State and the large size of the country presents supply chain challenges. However, Mexico offers many advantages such as labor costs comparable to Asia-based manufacturing and a strategic location between North and South America, making it attractive to firms who want to break into any of these markets. A young and skilled labor workforce coupled with government support to FDIs makes Mexico a top choice for investors.

 

Component Name

Unit

From Site

GDP

USD billion

1144

GDP Annual Growth Rate

%

2.5

GDP Per Capita

USD

9517

Employment Rate

%

96

Wages

USD/Day

16.8742

Inflation Rate

%

2.97

Consumer Price Index (CPI)

Index Points

120

Interest Rate

%

4.75

Loans to Private Sector

USD million/billion

97,209 million

Balance of Trade

USD million/billion

-1913

Business Confidence

(No Units)

53.44

Manufacturing PMI

Index Points

51.9

Ease of Doing Business

(No Units)

38

Competitiveness Rank

(No Units)

51

Corruption Rank

(No Units)

95

Consumer Confidence

(No Units)

84.1

Consumer Spending

USD million/billion

504,395.50 million

Corporate Tax Rate

%

30

Sales Tax Rate

%

16

 

The Market Entry Series

Exploring global markets is now recognized as the shortest way to ensure high time to efficiency conversion, when trying to expand revenues past domestic markets, for firms both large and small. Our market entry series, priced suitably low contains the essentials of all the parameters (Refer: Table of Contents) you must be apprised of before you can have a well informed contemplation of a business opportunity in your choice of industry, in your choice of geography.

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