Mexico Hospital Supplies Market Size

Mexico Hospital Supplies Market Analysis

The Mexican hospital supplies market is expected to grow at a CAGR of 11.5% during the forecast period.

The COVID-19 pandemic significantly impacted the hospital supplies market in Mexico. The high number of patients admitted to hospitals increased the demand for patient monitoring devices, mobility aids, personal protective equipment, and other supplies required for hospital use. Due to the high number of COVID-19-infected patients, the demand for sanitizers and disinfectants increased. Thus, a huge demand for disinfectants and sterilizers was seen, which positively impacted the market studied. Moreover, developments in providing patient care during the pandemic's later phase increased in Mexico.

For instance, according to the data updated by UNESCO, in September 2021, the Carlos Slim Foundation (CSF), along with several regional foundations, academic institutions, and the government of the country, formed a productive public-private collaboration and financed the conversion of the largest convention center in Mexico into a temporary COVID-19 hospital streamlined for patient referral, admission, treatment, clinical monitoring, discharge, and household follow-up to mitigate the impact of the pandemic using a digital health platform in Mexico. Thus, the pandemic impacted the market studied considerably, and the abovementioned factors created tremendous growth opportunities.

Factors such as increased incidences of infectious and chronic diseases, growing public awareness about hospital-acquired infections, and an increase in the geriatric population and in-patient admissions in hospitals are primary contributors to the overall growth of the hospital supplies market in Mexico.

The burden of communicable (infectious) diseases is constantly growing in Mexico. The incidence and prevalence of human papillomavirus (HPV), among other diseases, is high in Mexico, increasing the demand for disease diagnosis and treatment. The HPV information center report published in October 2021 stated that the prevalence of HPV 16 and 18 among adult women with normal cytology is 4.1%; with low-grade cervical lesions, the prevalence is 15.3%; with high-grade cervical lesions, it differs to 37.7%; and with cervical cancer, the prevalence changes to 65% in Mexico. Additionally, ]according to the source above, the age-standardized incidence rate of cervical cancer cases attributable to HPV is 12.6 per 100,000 women per year. As HPV is the common cause of cervical cancer among women, the need for early diagnosis is high. Thus, it is expected to create demand for hospital supplies for diagnosis purposes, thereby driving the growth of the market.

Moreover, continuous product launches and developments coupled with strategic activities by the major players in the market are anticipated to drive the growth of the market. For instance, in September 2021, Co-Diagnostics Inc. received approval for sale in Mexico by the Mexican Department of Epidemiology ("InDRE") for the Logix Smart Influenza A/Influenza B/COVID-19 "ABC" Test. This aligns with the government's objective to provide affordable, state-of-the-art diagnostic products around the country, which is expected to boost the market. Furthermore, according to the data published by the OECD in 2022, the total number of hospitals increased to 4,995 in 2021 from 4,707 in 2019 within the country. Thus, such factors are anticipated to fuel the growth of the market during the forecast period.

Therefore, due to the abovementioned factors, the market for hospital supplies is anticipated to witness growth over the forecast period. However, stringent regulatory frameworks and the emergence of home care services are the factors that are predicted to hinder the market growth during the forecast period.