Market Size of Mexico General Surgical Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.80 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Mexico General Surgical Devices Market Analysis
The Mexican general surgical devices market is expected to record a CAGR of around 4.8% during the forecast period.
- COVID-19 had a significant impact on the growth of the market. According to the National Center for Biotechnology Information (NCBI) article published in December 2021, the COVID-19 pandemic, along with the implemented health policies, was associated with a decrease in donations, waiting list additions, and transplantation, particularly at public institutions which care for the most vulnerable. Thus, the reduction of transplantation surgeries during COVID-19 in Mexico impacted the market growth during the pandemic period.
- However, the reopening of the hospitals and clinics during the post-pandemic relaxations contributed to the market's growth and is expected to reach pre-pandemic growth levels in the coming five years.
- Certain factors accelerating the market's growth include rising demand for minimally invasive devices, a rise in road accidents and chronic diseases, technological advancements in general surgical devices, and increasing unmet healthcare needs in the country.
- For instance, the data published by the International Transport Forum (ITR) in 2021 showed that 61,421 people were injured in road traffic accidents in Mexico. In addition, in 2020, over 21,242 injured persons were hospitalized in Mexico. Therefore, the burden and increasing road accident cases within Mexico are estimated to boost the demand for surgeries, thereby driving the growth of the studied market.
- Also, the rise in the geriatric population prone to chronic diseases is expected to drive the market's growth. For instance, the UN World Population Ageing updated report in October 2020 revealed that the population of Mexicans aged 65 and more is anticipated to grow to 26,416 thousand by 2050.
- Thus, factors such as increased injury cases, a growing geriatric population, and high demand for advanced general surgical devices are likely to drive the growth of the Mexico general surgical devices market. However, the high capital expenses needed to produce surgical equipment are expected to restrain the market's growth over the forecast period..
