Mexico Ultrasound Devices Market Size

Mexico Ultrasound Devices Market Analysis

The Mexico Ultrasound Devices Market size is estimated at USD 197.94 million in 2024, and is expected to reach USD 262.51 million by 2029, growing at a CAGR of 5.85% during the forecast period (2024-2029).

COVID-19 significantly impacted the ultrasound devices market in Mexico, as ultrasound imaging helped monitor patients affected by COVID-19. For instance, according to an article published by PubMed Central in April 2022, a study was conducted in Mexico City which showed that lung ultrasound (LUS) helped diagnose lung involvement in neonates and follow up with patients affected with COVID-19, which gave more information, and reduced exposure compared to traditional examination. Thus, such factors affected the growth of the studied market during the pandemic. However, as the pandemic has subsided currently, the usage of ultrasound devices has gone back to pre-pandemic levels in the country; thus, the Mexico ultrasound devices market is expected to have stable growth during the forecast period of the study.

Ultrasound devices are used in imaging procedures to diagnose various diseases such as gall bladder and kidney stones, urological disorders, and cardiovascular diseases. Thus, the rising prevalence of such chronic illnesses is anticipated to boost the growth of the ultrasound devices market in Mexico during the study's projected period. For instance, according to an article published by PubMed Central in June 2022, Mexico is said to have a high incidence of prostate cancer. Moreover, according to a report published by PubMed Central in March 2022, urolithiasis (UL) is a condition where stones form in different parts of the urinary tract. The source also stated that UL is considered a health problem, and its prevalence has increased considerably in developing countries, including Mexico.

Additionally, according to an article published by SciELO in March 2021, Mexico has a high prevalence of congenital heart defects. It is said to have a majority of 7.4 out of 1,000 newborns every year. Thus, the high prevalence of such chronic diseases in the country is expected to boost the growth of the studied market.

Moreover, ultrasound devices are widely used for imaging fetuses during the gestational period, so the high pregnancy rate in the country is also expected to increase the adoption of these devices during the forecast period. For instance, according to an article published by PubMed in November 2022, Mexico ranks among the Organisation for Economic Co-operation and Development (OECD) countries with the highest prevalence of teenage pregnancies, with an estimated fertility rate of 70.6 births for every 1,000 adolescents every year. Hence, with the high majority of teenage pregnancies in the country, the usage of ultrasound devices is expected to increase for fetus monitoring procedures.

Thus, the factors such as the rising prevalence of chronic diseases and the increasing number of pregnancies in Mexico are expected to boost the market growth during the forecast period of the study. However, the lack of skilled labor to handle advanced equipment is expected to hinder market growth.