Market Entry - Portable Medical Devices Industry in Mexico: Analysis of Growth, Trends and Progress (2020 - 2025)

Looking to buy the report?

 

About the Market

An increase in the aging population and rising healthcare costs are driving this market. Technological advancements shall affect the cost of medical devices, which are providing a competitive edge to manufacturers. The growth of the global market for portable medical electronic devices is hampered due to security concerns and connectivity problems. The market can be segmented into respiratory, cardiac, hemodynamic, fitness & wellness, insulin pumps and ultrasound devices with cardiac contributing to most of the revenue. North America and Europe are the two key regions accounting for over 70% of the global market. Asia-Pacific is showing remarkable growth due to favorable government initiatives & reimbursement policies and economic & technological advancements; with India and China fueling the growth of the market. Philips Healthcare, Medtronic, GE Healthcare, and Carefusion Corporation are 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.

 

1. Introduction

                1.1 Scope of the Report

                1.2 Regional Analysis

                                1.2.1 PESTLE Analysis

                                1.2.2 Analysis of Ease of Doing Business

2. Market Dynamics

                2.1 Drivers

                2.2 Restraints

                2.3 Opportunities

3. Market Demand Analysis

                3.1 Socio-Economic Segmentation

                3.2 Demographic Strengths & Weaknesses

                3.3 Spending Patterns

                3.4 Target Market Identification

4. Market Size of Portable Medical Devices Industry (USD millions)

                4.1 By Equipment

                4.2 By Component

5. Market Entry

                5.1 Market Entry: The Strategy

                                5.1.1 Types of Entry Modes, by Market Entry Objectives

                                5.1.2 Competition Analysis

                                                5.1.2.1 Market Share

                                                5.1.2.2 Strategies Adopted, Recent Events 

                                5.1.3 Pricing Strategy

                                5.1.4 Supply Chain Analysis

                                                5.1.4.1 Trade (Import-Export Analysis)

                                                5.1.4.2 Distribution Network & Retail Analysis

                5.2 Market Entry: The Administration

                                5.2.1 How to Register a Company (Flowchart)

                                5.2.2 Registration Processes 

                                                5.2.2.1 Ministries Involved

                                                5.2.2.2 Criteria and Conditions

                                5.2.3 List of Forms & Documents

                                5.2.4 Product Control Guidelines specified by the Government

6. Sources

7. Disclaimer

 

Looking to buy the report?

Need a report that reflects how COVID-19 has impacted this market and its growth?

Looking to customize report?

Email

Message

By submitting, you confirm that you agree to our privacy policy